Seems an awesome idea to deposit the checks via iPhone! But please don’t mess it up with the iTunes Universal Payment System. Its just a 3rd party effort.

USAA bank is not a too famous bank to rank in top 20 of the US but they are well known with their initiative of check submission from home after scanning it on a scanner. Now they have introduced another revolutionary way of phone banking that doesn’t restrict you to the online demands. Yes! If someone has handed over a check ( or cheque ) to you, you need not worry! They are making the process so simple that you’ll have to take the snap of the both sides of the check to send it over to the bank via the iPhone App, no need to email the snaps.

At first glimpse, I thought, it would be a crap idea, but now I think its great because you don’t need others to have online banking accounts, even if they do it the traditional way, you can proceed online. Further more, to make the process clean and secure, USAA bank has restricted the service to the customers with strong banking record. According to the bank resources, about 60% of the customers are eligible.

Details regarding to the price availability and terms and conditions are not yet known.

[NYTimes]

• Apple Design Application Reveals Possible iPhone 5 Design Details
• How To: Secure Your iTunes Account
• Only iPhone 3GS and iPod Touch 3G Getting Multitasking With iPhone OS 4
• iPhone OS 4: iBooks Comes to iPhone And iPod Touch
• iPhone 4S Release Day: Photos, Information on Finding an iPhone