What’s a bank that has only one physical branch to do to better serve their nearly 7-million customers? Turn to the iPhone for help. That’s just what Texas-based bank USAA is doing to help facilitate check deposits for their growing number of clients.

apple-iphone-3g

Their new iPhone app will let select clients deposit checks freely by simply taking a picture of the front and back of the check without having the need to mail the check to the bank. Of course, due to stringent banking measures, there will be safeguards to this new system which is why only select clients can use this service. Only those who are eligible and have some form of credit with USAA will be allowed to use this novel and hassle free way of depositing checks.

Here's a demo of the new USAA iPhone app:

For the record, this isn't the first time USAA has come out with a unique and alternative banking service. Three years ago, they allowed clients to send it scanned checks for deposit so that they wouldn’t have to leave their homes. That basically became the foundation for this new iPhone service which they also intend to roll out to other phones and platforms later this year.

Will other banking institutions follow suit? While we certainly hope so, our prediction is that some will probably do, but not a whole lot. With fraud still a serious problem for banks despite of all the measures that are in place already, we’re not sure if banks will be willing to invest in a new system that can, in all honesty, still be used to cheat one’s way through in earning a quick buck or two. However, as mobile technology becomes more in everyday life, it’s high time banks take advantage of this and offer more up innovative services such as this one in order to facilitate banking transactions easier and faster for their clients.

[source]