Sometime this week USAA, a small private bank, will be rolling out an app for the iPhone that will allow you to deposit checks without having to make a trip to the bank. The bank serves millions of military personnel and their families which will make it easier for those who are stationed overseas by greatly decreasing the amount of time it would take for a check to be deposited. As a member, you will be able to snap a picture of the check (both sides) and submit it for deposit and not be required to send the check in.

To prevent/limit fraud for pilot run, USAA is only offering this app to customers that can show proof of insurance or line of credit through the bank. It is estimated that more than half of the members qualify. This could still be a big risk to USAA by opening this hole up. But, over time, I’m sure more banks will be soon to follow and security measures will be improved.

A great futuristic concept and time-saver for a USAA member.

USAA in the App Store

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