USAA Bank Customers Will Be Able to Deposit Checks by iPhone

USAA bank is going to update its iPhone app this week. After this update, USAA bank customers having iPhone will be able to Deposit their checks by iPhone.

Customers need to take picture of the both sides of the Check with iPhone camera and send it which will be used to obtain the necessary information for deposit.

We’re essentially taking an image of the check, and once you hit the send button, that image is going into our deposit-taking system as any other check would.
said Wayne Peacock, a USAA executive vice president.

There will be no need to mail those deposited checks on a later date; however, it should be voided then filed or discarded. In order to reduce fraud, this facility will be available only to those the customers who are eligible for credit and have USAA insurance. So, 60% of 7.2 million total customers qualifies.

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