USAA To Allow Check Deposits Via iPhone

Customers of USAA will soon be able to deposit checks using their iPhones, according to the New York Times.

This week, the bank will update its iPhone application to allow customers to take photos of the front and back of checks and then submit the photos as if an actual check was being deposited. The check could then be voided and thrown away.

Most USAA customers will be eligible for the program. According to the Times, “only customers who are eligible for credit and have some type of insurance through USAA will be permitted to use the deposit feature … about 60 percent of the bank’s customers qualify.”

USAA has only one branch, in San Antonio, Texas.

A full version of the article is available here.