iPhone bank deposits

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USAA already released an iPhone application in May that allows members to check their bank balances, transfer money, find nearby ATMs and make other inquiries using their iPhones (and it's not the only one). Mobile banking is expected to grow. But thisnew check-depositing process will add a new dimension to the group's existing services. The iPhone check-depositing process won't be the first time USAA has offered offsite deposits from back customers, though. Back in February 2007, the bank introduced a process in which customers could scan their checks into their home computers and then transmit the images to the back for deposit.

After using the new iPhone application, customers won't have to send the deposited checks to the bank later, but are advised to void the documents or save them for safekeeping, according to The New York Times report. Due to concerns about fraud and theft, only customers who are able to obtain credit accounts or have insurance with USAA will be eligible to use the new service.
PC World