Deposit checks with iPhone photos

Here’s a new and interesting concept — A bank by the name of USAA has recently released an updated version of their iPhone app that will actually let users deposit checks without ever leaving their home.

How it works is you take a picture of the front and the back of your check, using the iPhone’s built-in camera, upload the pictures and that’s it, you’re done. A minor catch is that you have to be eligble for credit or hold insurance through USAA for this to work but otherwise, the system seems flawless.

Let’s hope other banks who have iPhone apps, like Bank of America, begin utilizing a similar system.