USAA launches iPhone cheque deposit app

USAA launches iPhone cheque deposit app

USAA bank has launched an application that enables customers to deposit cheques by taking photos of them with an iPhone.

The Deposit@Mobile feature lets eligible members snap a photo of both sides of a signed cheque with their iPhone's built-in camera, and then transmit the image to USAA through the phone.

USAA systems immediately verify the deposit information and signature to complete the transaction.

USAA has around 7.2 million members - mostly military personnel and their families that are stationed around the world - but only one physical branch.

This has led to a focus on online and mobile services. It rolled out a service enabling members to scan and deposit cheques using their home computer back in 2006 and claims around 14% of customers use its various mobile banking options, which include an iPhone app launched in May.

Wayne Peacock, EVP, enterprise business operations, USAA, says: "Nearly 50 percent of our 1 million mobile users are active-duty military, who may be deployed anywhere. The convenience of mobile access is essential to delivering the highest possible level of customer service."

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