Bank of America Launches iPhone App

Bank of America may have been on the cutting edge of mobile banking via the iPhone, but now the United Services Automobile Association (USAA), a privately held bank and insurance company, is launching an iPhone app that will let customers deposit their checks electronically ,Christian Science Monitor reports.

Meanwhile, the privately held financial services and insurance company USAA (United Services Automobile Association) serves only current and former members of the US Armed Services and their families, but even with that limitation, it currently has 7.2 million members , Register reports.

This really is not that big of a surprise for those of us USAA members who deposit checks since we have been able to scan checks in and have them deposited automatically for a couple of years. I never mail in checks and after scanning them I just note on them they were deposited via the Deposit @Home service and then file them away. This updated iPhone application should be a faster and simpler solution than having to scan in the check’s front and back though and I look forward to trying it out ,ZDNet reports.