USAA Bank iPhone app lets customers deposit checks electronically

The United States Automobile Association (USAA)—a privately held bank based in San Antonio, TX—will allow its customers to deposit checks using its iPhone application starting this week. The iPhone application will allow users to deposit checks simply by taking a picture of both sides of the check with the iPhone’s camera. That’s it. The entire process is done electronically, and the physical check can be voided, filed, or discarded.