USAA, a privately held bank and insurance company is allowing your iPhone to be a lot more helpful then just being able to check your balance and transfer funds from one account to another. They are updating their iPhone applications to allow its customers take a photo of the front and back of their checks for deposit. USAA's VP explained to The NY Times that once you send the images the deposit is automatically added to your account as if you were making a physical deposit. From there you can void the check and either keep it for your own records, destroy it, make paper origami, build an investment piñata, what ever your little financially sound heart desires.
Of course in order to use this app from the Gods of ease you need to either have a credit account or have some kind of insurance coverage through USAA. So we are considering getting umbrella insurance from USAA, because we can't stand it when we forget our umbrellas at resturants and coffee shops when it rains. That, or wait until our current banks get with the times. BofA, Chase, we're looking in your direction.
via Gizmodo
