PayPal has announced an iPhone app that now allows users to transfer checks into their PayPal balance for free by simply taking a photo with the iPhone. Version 2.7 of the app lets people transfer cheques into their PayPal accounts simply by photographing it and then uploading the image. Mobile Check Capture, a service powered by BankServ, is a new feature added to the recently released iPhone 2.7 app. “With PayPal Mobile Check Capture on the iPhone, there’ll be no more checks lying around the house for months — a user can transfer a check to his account as soon as he receives it by just snapping a photo,” said Laura Chambers, PayPal’s senior director of mobile. Laura insists, “Once you’ve photographed your check, just hold on to it for 15 days and then you can throw it away. If you’re anything like me, you’ll love this new feature and the fact that you can skip your next trip to the bank when you receive a check.” Moreover creating one-of-its-kind record, more than $100,000 of checks have been received by PayPal’s new app in just the first 36 hours. Laura quips, “We knew that this would be popular but we had no idea just how much pent up demand there was for a quick, easy way to deal with checks.” So instead of visiting the bank, check out www.PayPal.com/mobile or download the app directly from iTunes.