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USAA bank to allow iPhone-facilitated check deposits

While the US is decidedly and unbearably behind the curve when it comes to mobile banking, the iPhone is managing to spark some creativity in the space. Case in point: USAA, a privately-held bank and insurance peddler, will be updating its iPhone app soon with a new check deposit feature. As you might have been able to conclude from the image above, USAA’s app will allow account holders to capture images of a check and deliver them securely to the bank’s servers. The bank will then process the check and deposit the funds in the customer’s account. There will be no need to go to a branch to follow up or even mail the check to the bank for verification — snap a few pics and you’re done. Awesome. The new feature will only be available to certain customers; those “who are eligible for credit and have some type of insurance through USAA.” According to the bank’s EVP however, about 60 percent of the bank’s customers will meet these requirements and therefore be able to use this great new feature when it becomes available. While the technology involved is nothing groundbreaking, this is yet another example of of the iPhone spawning creative new solutions and services. Let’s just hope Apple approves the app.

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Zach Epstein

Zach Epstein has been the Executive Editor at BGR for more than 10 years. He manages BGR’s editorial team and ensures that best practices are adhered to. He also oversees the Ecommerce team and directs the daily flow of all content.

Zach first joined BGR in 2007 as a Staff Writer covering business, technology, and entertainment. His work has been quoted by countless top news organizations, and he was recently named one of the world's top 10 “power mobile influencers” by Forbes. Prior to BGR, Zach worked as an executive in marketing and business development with two private telcos.