US Bank Offers Check Deposits Via iPhone
10:51 am, August 10th, 2009, Nicole Martinelli
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.
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.
Posted by Nicole Martinelli in News, iPhone, iPhone 3G, iPhone 3G S | Comment on this article
fraud waiting to happen? why yes. yes it is.
firesign3000, on August 10th, 2009 at 11:46 am
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.
rudmer90, on August 10th, 2009 at 2:11 pm
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.
gq330, on August 11th, 2009 at 9:25 am
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Redazione Ic Mobile, on October 6th, 2009 at 10:12 am