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Fidelity Launches Mobile Deposit iPad App for IRAs

The broker updated its iPad app so that investors can make 2011 contributions to their IRAs in time for the April 17th deadline.

As the April 17 deadline for making 2011 contributions to individual retirement accounts approaches, Fidelity Investments launched an iPad application giving investors the ability to make mobile deposits directly to their Fidelity IRAs via the tablets.

The mobile deposit feature is an update to the Fidelity App for iPad launched today and available from the App Store. According to Fidelity, the firm is the first major online brokerage to offer mobile check deposit through an iPad. Since Fidelity receives approximately 45 percent of annual IRA contributions within the 28 days leading up to the April tax deadline, this new deposit feature provides investors with an easy and efficient way to meet the savings deadline. Using the iPad camera, they can take a picture of the check and immediately send it to Fidelity for deposit into their traditional or Roth IRAs, as well as into any non-retirement (brokerage) account, the company said.

“Fidelity has a long history of addressing customer needs and providing investors with service and innovation they cannot get elsewhere,” commented Richard Blunck, EVP of digital distribution at Fidelity, in the release. As an IRA leader "in helping millions of people plan for retirement," in the release, Blunck said, "We continue to invest significantly in offerings that make it simple and easy for our customers to successfully manage their finances. Our mobile deposit feature is designed to help them more conveniently meet a key IRA deadline.”

The news followed Fidelity's May 11th mobile check deposit offering for non-retirement accounts via its mobile app for the iPhone. Since that time, deposits made through Fidelity’s mobile apps have been increasing steadily, the online broker said.

Other recent improvements to Fidelity’s iPad app include: world market performance and news for key equity market indices, with real time streaming quotes and watch lists and news; advanced, interactive charting, including 10 popular technical indicators and at the ability to display three charts at once on-screen and customize for color, chart style and timeframe; investor trends and ideas from third party content provides including Zacks, Investment Research, Recognia, First Rain and Econoday; and visually enhanced elements such as “heat mapping” to indicate movement in a customer’s portfolio and an interactive “click wheel” to view balances from multiple accounts.

Ivy is Editor-at-Large for Advanced Trading and Wall Street & Technology. Ivy is responsible for writing in-depth feature articles, daily blogs and news articles with a focus on automated trading in the capital markets. As an industry expert, Ivy has reported on a myriad ... View Full Bio

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