25 October 2014

USAA offers direct deposit through UPS store network

15 June 2011  |  5879 views  |  0 Source: USAA

USAA Federal Savings Bank customers nationwide now can enjoy the convenience of depositing checks through USAA Easy Deposit at more than 1,900 pre-identified The UPS Store® locations near their home or work.

Since offering the free service in select markets last fall, nearly 130,000 checks totaling close to $193 million were forwarded from The UPS Store locations for deposit by USAA members.

USAA Federal Savings Bank is the first financial institution to offer remote deposit capture in retail outlets. USAA Easy Deposit, which uses the same technology that enables check deposits from a smartphone, is the latest banking solution to make life simpler for USAA members. In 2006, USAA launched its Deposit@Home® service, which enables qualified bank members to deposit checks by scanning and submitting them to usaa.com from a home computer.

USAA Bank expanded this capability by launching USAA Deposit@Mobile® in August 2009. Since then, nearly 6.1 million checks totaling more than $3.5 billion have been forwarded for deposit by qualified USAA members from mobile devices.

"Our members are highly mobile; that's why we strive to stay at the forefront of making banking services accessible and convenient from anywhere," said David Bohne, president of USAA Federal Savings Bank. "With this new agreement, members can visit any of the pre-identified The UPS Store locations to deposit a check in seconds. USAA Easy Deposit is one of the many ways we make it easy for our members to bank with us."

"Our franchisees are pleased to be part of a solution that helps USAA customers do their banking," said Stuart Mathis, president of Mail Boxes Etc. Inc. (MBE), franchisor of The UPS Store brand. "USAA Easy Deposit is a great example of how business organizations can make their customers' lives easier by maximizing technology and tapping into our nationwide network of convenient The UPS Store locations."

Here's how the safe process works: USAA members with a USAA checking account or savings account provide their USAA ATM or debit cards to The UPS Store associate, who swipes the card, selects the type of account and scans the check through remote deposit capture. USAA systems receive tthe forwarded check information and process the deposit. The UPS Store associate receives confirmation and returns the voided check to the USAA member. After USAA Bank receives the check from The UPS Store, the deposit, in most cases, is immediate and can be verified through account alerts, usaa.com, usaa.mobile or by calling USAA. It's that simple and safe. Members do not need their account number, PIN or a deposit slip. To help make the process secure, personal information is not required or shared with non-USAA personnel. The entire process takes less than a minute.

USAA members can find the locations offering the service by visiting usaa.com or accessing an application on their Android™ or iPhone® mobile device.

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