August 10th, 2009

USAA Takes Mobile Banking To The Next Level – Deposit Checks by iPhone

Today NYTimes.com broke the news that this week USAA Bank plans to introduce a check deposit feature to their iPhone application. This feature will enable customers to photograph both sides of a check with the phone’s camera and send/deposit a check straight through the phone.

Watch video below that illustrates how this new feature will work:

Back in May of this year, USAA annouced the launch of their iPhone and iPod Touch application. With all of these options USAA has indicated that their 10-month-old service (as of May/09) is already used by 11.4% or 800,000 of its 7 million members. It also seems that USAA’s members are mobile active, with more than 13 million logins since May, about 3% of its nearly 500 million annual customer contacts.

About the banks

USAA Federal Savings Bank

Established in 1983, USAA Federal Savings Bank (FSB) and its two subsidiaries, USAA Savings Bank and USAA Relocation Services Inc., (the "Bank") provide a full range of financial products and services to the military community worldwide. The mutual insurance company serves more than 6 million member customers, primarily military personnel, military retirees, and their families.