I deposit my checks from my house. I simply hook my laptop up to the scanner and scan the front and the back of the check and voila. Yet, I have become so spoiled by the ease of depositing checks at my house that I have actually had the audacity to think that it is a hassle. Even crazier, I just learned that this annoyance has already been addressed. My bank, USAA, has actually made an application in which I can deposit a check by taking a picture of the front and back of the check with my iPhone. The online demo actually goes through the whole process in one minute and forty five seconds. It shows a thirteen year old girl depositing her birthday check from grandma while sitting in a café. I can do anything a thirteen year old girl can do. I used to be one.
USAA recognizes their customers’ tendency to be fast adapters to technology. Their website points out that their adoption rate for mobile apps is 14% which is 3 times as high as other big banks. Within three days of the launch of this application on August 11th (my birthday by the way….yes, I turned 30 at our MIT orientation) $1.5 million dollars in checks had been deposited via iPhone.