$1.5 million in checks deposited via iPhone app

Budi Putra — Sat, 15 Aug 2009 07:35:46 +0000

At least $1.5 million in checks have already been deposited via an iPhone app, which launched just five days ago, according to United Services Automobile Association bank. The app has been installed nearly 150,000 times, and more than 58,000 users to update their accounts.

USAA has just updated its free iPhone application, adding the ability to deposit checks wirelessly. Just taking a photo of both sides of the check using iPhone’s camera, then you can send the check’s image directly to USAA.

In order to reduce fraud, only qualified USAA customers –who had eligible credit score and insurance from USAA– can make deposits into their accounts over the air.

[via Washington Post]

Bank allows depositing of checks using iPhone pics

Shane McGlaun — Mon, 10 Aug 2009 16:59:49 +0000

When payday rolls around I often end up forgetting to go to the bank and deposit my checks. My bank has branches inside local grocery stores and Walmart locations where I am several times per week and I still forget to make deposits.

iPhone owners who use USAA bank and meet certain conditions can now get a free iPhone app that allows them to make deposits by simply taking images of the front and back of a check. Customers don’t even have to mail the check in later.

The conditions are that the user has to have credit with the bank and must have some type of insurance through the bank. I wonder if the credit requirement is to be sure that the bank can charge you in some way should a check prove to be bad.

[via NYTimes]

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$1.5 million in checks deposited via iPhone app

Bank allows depositing of checks using iPhone pics