No Bank Visit Necessary With iPhone Check Cashing

So much banking can be done online these days that it’s about time we did away with cashing checks at the bank. USAA Bank, a military-centric company whose sole branch is in San Antonio, will update its iPhone application so customers can scan and cash checks over the Internet. The bank already allows customers to cash checks from home using a scanner, so this seems like a logical next step, and one I’d very much be interested in seeing from my bank. You need credit and some type of insurance with USAA to qualify, but it’s estimated that 60 percent of customers already do. Here’s hoping for the death of the deposit slip. [via the New York Times]