Over $1.5 million in checks deposited via iPhone

The United States Automobile Association bank, also known as USAA, recently released a free iPhone app that allows users to deposit checks using their iPhone’s built-in camera.

Five days after it’s release, this app has seen immense success, processing over $1.5 million in checks.
According to the Washington Post, “A spokesperson told us that the app has already been installed nearly 150,000 times, and more than 58,000 users have already elected to update it.”

Considering that this app has had so much success after only 5 days of availability, I would not be at all surprised if banks such as Wells Fargo, Bank of America, etc started to release (or update) iPhone apps that would allow the user to deposit checks via iPhone.

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