In today's world, plastic is the way to go. Cash is so 1920. Checks are so 1980. But those things will not die! If you are a customer of USAA, the next time someone gives you a check, save yourself a trip to the bank and use USAA Deposit@MobileIt's so simple and easy to use that you might never go to the bank again. I've successfully used it on my iPhone and will definitely continue to do so. Here's how it works;
1)Download the app HERE
2)Follow the app's instructions for taking a picture of the check (front and back)
3)Click "deposit"
4)Void the check you have in your hand
Viola! The amount is then transferred to your account. No driving to the bank, no waiting for the amount to process
Viola! The amount is then transferred to your account. No driving to the bank, no waiting for the amount to process
Essentially, they have just shortened the process of check processing. When we deposit our checks manually, the bank takes a snapshot of the check for their (and our) records. The amount is then processed and deposited. In this scenario we take our own snapshots of the check instead of the bank doing so. It saves everyone time. The only delay is saved for the bank running the numbers on the check to be sure it's not fraud. The only downside is that USAA is still the only one with this feature for the iPhone. However, I'm sure it won't be long before others such as Citi Bank and Chase try their hand as well.
Nearly 50% of USAA Federal Savings Bank's customers are activity duty military members. According to Executive VP Wayne Peacock, this app will give their customers the highest level of customer service, whether they can access a bank or not.
From USAA:
"Our members are on-the-go and need to be able to manage their accounts at all times, from any location. 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."
Check it out for yourself
Dom is an associate editor for The Everythingist
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