In less than one year, San Antonio-based USAA's [email protected] remote deposit function for mobile devices has seen more than 1.5 million checks deposited for a total of more than $928 million, the bank said in a release.
While the bank only has one physical branch, it now sees 35 percent of all checks deposited using remote deposit capture.
“Nobody wants to take valuable time to drive to the bank and stand in line to deposit a check,” said USAA Federal Savings Bank President David Bohne. “With [email protected], it takes less than two minutes to deposit a check at anytime and from anyplace.”
The bank first offered remote deposit capture to its customers in 2007. In August 2009, it released its [email protected] app, which allows customers to take photos of checks with an Apple iPhone or Android mobile device and wirelessly deposit money. On an average week, the USAA sees 50,000 checks and $30 million deposited via the mobile remote deposit capture app.
“The vast majority of all deposits can be handled without ever taking a step inside the bank,” added Bohne. “We’re committed to making our members’ lives easier and will continue to come up with ways to help them handle their banking and personal finances on their own schedules and from wherever they choose to do so.”
Recently New York-based Chase also added remote deposit capture functionality to its iPhone app.