US Bank Offers Check Deposits Via iPhone

Getting a step closer to completely paperless banking, some customers of USAA will be able to deposit checks using their iPhones.

An updated version of the bank’s mobile app out this week accepts checks that have been photographed with the iPhone.

In the demo above, a bank exec first enters the amount of the check, then lines it up on a desk to take a picture, flips it over to take a shot of the signature. After checking that the images lined up properly and hitting “submit,” the check is in the bank’s system.

“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,” Wayne Peacock, a USAA executive vice president, told the New York Times.

The check doesn’t have to be mailed or deposited afterward, customers are advised to void or file it. To avoid fraud trouble, only customers with credit and some kind of insurance are eligible — an estimated 60 percent of the bank’s customers. Since USAA‘s customer base is largely military personnel, for those overseas it might just be the ticket.

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The last time I deposited a check, the ATM scanned it directly, but as long as you don’t need to get cash out or do something else this is a nice time saver, especially if you’re a straight shooter.

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Nicole Martinelli is a San Francisco native who has lived in Milan and Florence, Italy. She's written for Wired.com, The New York Times and Newsweek. You can find her on Twitter , Facebook and Google+.

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Posted in iPhone, iPhone 3G, iPhone 3G S, News | Tagged: mobile banking |

firesign3000
fraud waiting to happen? why yes. yes it is.
rudmer90
I’m a USAA member, and can say that this is NOT fraud waiting to happen. For years now, USAA has allowed members to deposit checks by scanning them through a program on their website called deposit@home, and has not run into significant fraud issues. This is simply an extension of deposit@home, and one more reason why USAA is an amazing bank and insurer.
gq330
Why would it be fraud? You have to have an account to deposit? If you are depositing checks that are bad they would catch that quickly? Your account is insured anyway. USAA is one of the few banks out there that has their act together. I am also a member who uses the scan feature. It is so easy it is almost surreal. I have never had one problem.
http://www.icmobile.it Redazione Ic Mobile
there is an other metod to follow the customers and not only to use Iphone to offer Check deposit, this is only an other channel. The solution is called “IC Mobile”, includes a number of applications for iPhone is a complete system for managing sales campaigns … and much more! . Main feature is especially strong integration between the software components core system: GPS and Google Maps, Browser, Calendar, Contacts and Mail.
With “IC Mobile” make available to the business (banks, networks of promoters, companies, vendors, etc..) Functionality integrated agenda for planning and management commitments, interaction with the client and portfolio management, contact management and outcomes, access to mobile customer record, monitoring and reporting, georeferencing of its customers, management appointments sales campaigns, customer contact, communication with vendors and more.
We believe that “IC Mobile” with its modules and its versions: Free and will be available at the Apple Store, Light with management by spreadsheet and Pro with a server management company could become the real business personal assistant.
Great simplicity and usability of the solution were the guidelines in the implementation of this CRM system and reporting, engaging and able to facilitate the relationship with the customer.
We believe that future models of service winners will be those characterized by the ability for customers to be increasingly Anywhere – Anytime, this is possible and feasible with the solutions and modules “IC Mobile” http://www.icmobile.it http://www.icmobile.biz – (sorry, you need Javascript to see this e-mail address)