Going to the bank to deposit a check took another step toward obsolescence today as USAA bank customers using mobile devices on the Android platform now can deposit checks using their phones.
USAA's Mobile App for Android, introduced over the weekend to the Android MarketTM, offers access to banking, insurance and stock-trading services as well as USAA's popular Deposit@Mobile feature. That feature allows eligible members to instantly deposit checks simply by submitting an image of the front and back of an endorsed check via the phone. USAA's app is designed for use on version 1.6 or newer of the Android operating platform.
USAA's Mobile App for the iPhone was launched last May. In August, USAA added Deposit@Mobile and in just five months, USAA customers have deposited more than $300 million using their iPhones.
More than 1.2 million of USAA's 7.3 million members - an industry-leading 16 percent - access USAA's mobile platforms to conduct financial transactions.
"The popularity of USAA's mobile platform clearly demonstrates that USAA members are comfortable using this technology and welcome the convenience it offers," said Jeff Dennes, USAA's executive director of mobile technology. "With this expansion to Android-supported mobile phones, going to the bank to deposit a check soon may be as antiquated as black-and-white TVs."
"Our members work with some of the most sophisticated technology in the world as part of their military jobs," said USAA's CEO, retired Army Maj. Gen. Joe Robles. "So it's no surprise that they are embracing our mobile services to help manage their personal financial needs."
Other innovations coming soon from USAA include a person-to-person application that will allow USAA banking customers to transfer money to others simply by using their mobile device.
The mobile strategy and associated technology is being developed in-house by USAA's research and development team, located at the company's lab within its headquarters in San Antonio.
"These tools are being developed by people who understand our culture of service and the unique needs of our customer base," said Dennes.