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Deposit a Check from Anywhere; USAA Deposit@Mobile for the iPhone
[August 11, 2009]

Deposit a Check from Anywhere; USAA Deposit@Mobile for the iPhone

SAN ANTONIO --(Business Wire)-- USAA today launched the first mobile deposit capability for the iPhone (News - Alert), meaning qualifying banking members can now use their iPhones to deposit a check from ball fields, PTA meetings, neighborhood gatherings, or anywhere else they can get a wireless signal.

The new USAA Deposit@Mobile feature, available on the company's popular USAA Mobile App for the iPhone is secure and simple to use. Eligible members can snap a photo of both sides of a signed check with their iPhone's built-in camera, and then transmit the image to USAA through the phone. USAA systems immediately verify the deposit information and signature to complete the transaction.

The new capability builds on USAA's Deposit@Home® service, introduced in 2006, which lets qualifying members scan and deposit checks using their home computer and scanner. In most cases, deposits are immediately available for use.

"Our members are on-the-go and need to be able to manage their accounts at all times, from any location," said Wayne Peacock, USAA's executive vice president of Enterprise Business Operations. "Nearly 50 percent of our 1 million mobile users are active-duty military, who may be deployed anywhere. The convenience of mobile access is essential to delivering the highest possible level of customer service." USAA Deposit@Mobile is the latest enhancement to the USAA Mobile App for the iPhone, launched in May, which enables qualifying USAA members to manage insurance, investment and bank accounts on a single, safe and secure platform. The feature-rich, 4-star-rated app is free, and has been downloaded nearly 140,000 times from Apple's (News - Alert) iTunes store.

USAA Mobile Platform In addition to the robust USAA Mobile App, USAA also offers its members the ability to access account information and transact business via SMS text messaging, a mobile banking application and its mobile Web site, USAA members can request auto insurance ID cards, place stock trades, transfer funds and much more using USAA's mobile services. Approximately 14 percent of USAA's 7.2 million members interact seamlessly with USAA via their mobile devices.

"USAA members are embracing the mobile channel at a very fast pace, saving themselves significant time and energy," Peacock said. With competitive rates, low fees, free ATM withdrawals anywhere and now complete mobile access, there's no reason for our members and prospective members to bank anywhere but USAA.

More USAA mobile statistics include: Ninety-seven percent of USAA members own a mobile device, compared to 89 percent for the general population.

USAA customers have conducted more than 13.3 million mobile transactions so far this year double its 2008 total.

The adoption rate for mobile services at USAA is 14 percent - three times greater than other leading banks report.

"USAA is investing in next-generation technology to consistently deliver a seamless, cross-channel customer service experience," said Peacock. "We look forward to expanding our mobile services to other open platforms like BlackBerry®, Google's Android (News - Alert) devices and to expanding our capabilities to help members manage their finances wherever life - or duty - takes them." About USAA USAA, a diversified financial services group of companies, is among the leading providers of financial planning, insurance, investments, and banking products to members of the U.S. military and their families. For the past three years, BusinessWeek magazine ranked USAA among the top two "Customer Service Champs," highlighting our legendary commitment of providing highly competitive financial products for 7.2 million members. For more information about USAA, or to learn more about membership, visit

To view a video of how USAA Deposit@Mobile works, click here:

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