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MaQ
10/26/09

In reply to Trick Yourself Into Saving Money With the Spend/Save Coin Bank
It's a concept, with flaws visible. #coinbank
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anexanhume
10/26/09

In reply to Trick Yourself Into Saving Money With the Spend/Save Coin Bank
No "blow it all on hookers" compartment? How is this helping me again? #coinbank
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SuprXY
08/10/09

In reply to Bank Lets Customers Deposit Checks With iPhone Photos
They have had a program like that previously where you could scan the check and it will instantly deposit. I thought it was the greatest thing I've ever seen in banking, but this is a much easier way to do it. As a USAA customer I'm happy about this. One thing though, insurance isn't enough. I wasn't able to use that deposit option until after I had a credit account with them. I already had homeowners and car insurance through them, but wasn't eligible. Unless they are changing their requirements for the iphone app, it has to be a credit account. Also, some people have mentioned the restrictions on USAA membership. They have recently changed their requirements, and you basically just have to know someone who has an account. You no longer have to be military or a dependent. A lot of military people are kind of annoyed by that.
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FooSchnickens promoted this comment SuprXY was starred SuprXY was unstarred

FooSchnickens - BPH Free
08/10/09

@SuprXY: Wow that's kinda odd. I mean, they can't be hurting bad enough to allow just anyone to get an account there. Not that I'm against it, I love being through USAA (and probably will be for life) and I'm sure there are lots of others who can benefit from their services.
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DeusExMach wonders what the hell happened to his star.
08/10/09

In reply to Bank Lets Customers Deposit Checks With iPhone Photos
Can't use the iPhone living in rural North Dakota, otherwise I'd pick one up. It'd come in real handy once my mobile PC repair company goes online.
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GroverRufus
08/10/09

In reply to Bank Lets Customers Deposit Checks With iPhone Photos
The chances of fraud are fairly small. First there is a 5K limit on the amount deposited, secondly you can only deposit in to your own account so any fradulent check would be quite simple to find. To be a USAA member you are or have served in the U.S. Military and USAA tends to have a lot more of your business than justyour checking and savings. USAA is a terrific company and very focused on customer service.
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FredicvsMaximvs promoted this comment farcedude approved this comment GroverRufus was starred GroverRufus was unstarred

FredicvsMaximvs
08/10/09

@GroverRufus: I agree with everything you say about USAA. I'd like to add that you can also have an account with them if you are/were a dependent of a military person.
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Nick
08/10/09

In reply to Bank Lets Customers Deposit Checks With iPhone Photos
alright, to all you silly folks that immediately try to find a way to defraud a company -- shut yo' mouth, sucka. yes, there are ways to try and sucker a little bit of money out of the bank, however, there is a limit, for most people, as to how much you can deposit (usually several thousand) and the fraud will be discovered and USAA don't f*ck around when it comes to catchin' folks who try it. on a lighter note -- USAA isn't going to stop with just the iPhone. currently in production are apps for other major devices and those folks with other smart phones will soon be able to deposit@mobile, too.
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UGAdawg
08/10/09

In reply to Bank Lets Customers Deposit Checks With iPhone Photos
USAA is fantastic! I have them for my insurance and I've been given great customer service over the years. This service offering wouldn't surprise me. I checked the service and it looks like you're credit is checked before the service is allowed. You are assessed any fees if the check does not clear or is fraudulent. So it's scan at your own risk.
"Go Army! Beat Navy!"
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farcedude promoted this comment UGAdawg was starred UGAdawg was unstarred

farcedude
08/10/09

@ugadawg: Goddamit, why do you people have to bring this up. Now I have to respond. GO NAVY! BEAT ARMY!
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whatne1wuddo
08/10/09

@farcedude: Aren't you guys on the same team?
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farcedude
08/10/09

@whatne1wuddo: [en.wikipedia.org]
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Edited by farcedude at 08/10/09 12:19 PM farcedude was starred farcedude was unstarred

farcedude
08/10/09

@farcedude: [en.wikipedia.org]
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JuliaFlorus
08/10/09

In reply to Bank Lets Customers Deposit Checks With iPhone Photos
I used to work there and so I can tell you that they've been doing this for years. Before the iPhone, their customers would scan their checks and deposit online. Two reasons why this will work for them. 1. All their members are active or former military so less desperate-for-money deadbeats. 2. Their tech department is unreal. These guys are very cutting edge and they've been working on that app ever since the iPhone came out. It may not be obvious but there are a lot of safety measures that they're taking to make sure that the images are legitimate.
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FredicvsMaximvs promoted this comment Keeping it Reil approved this comment JuliaFlorus was starred JuliaFlorus was unstarred

appletoad
08/10/09

In reply to Bank Lets Customers Deposit Checks With iPhone Photos
Need to commit check fraud? Yep, theres an app for that.
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debbyherbenick
08/10/09

In reply to Bank Lets Customers Deposit Checks With iPhone Photos
Absolutely!! But I'd want my bank to get on board as the major hassle would be switching to USAA for this feature.
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Curves
08/10/09

In reply to Bank Lets Customers Deposit Checks With iPhone Photos
This is a good idea. So long as the routing and account numbers as well as the $ amount are clear. If this goes well, it will picked up by a lot of banks. It will also be picked up by a lot of criminals, but, thats the price we pay for new technology and practices, its exploited for both good and bad.
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TheSonOfKrypton
08/10/09

In reply to Bank Lets Customers Deposit Checks With iPhone Photos
Hahahahha. They'd be wise to only enable this feature for the 3GS.....Any other iPhone is gonna have a hell of a time focusing well on a check without macro mode.
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CyrusFigulus
08/10/09

In reply to Bank Lets Customers Deposit Checks With iPhone Photos
This screams take a signed check from someone, photoshop the signature print it out and apply on top of a blank check and fill in all your desired numbers followed by some zeros.
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Nick: I love Nick promoted this comment CyrusFigulus was starred CyrusFigulus was unstarred

Nick
08/10/09

@CyrusFigulus: well, in a word -- no. there is a certain amount of trust that goes into accepting deposits remotely like this. that is why credit products are required and also why there is a limit to how much can be deposited. (several thousand) secondly, if someone were to do that it would also involve the bank from which the check was drawn and probably the FBI. sooooo, don't try to get cute.

PS
the FBI is also eligible for USAA as well as the military.
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Edited by Nick at 08/10/09 10:51 AM Nick was starred Nick was unstarred

digidt
08/10/09

In reply to Bank Lets Customers Deposit Checks With iPhone Photos
There is NO WAY this feature can end poorly for USAA. Nope. NO ONE is going figure out how to defraud this system. Not going to happen.
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DustyButt™
08/10/09

@digidt: Fraud happens with physical checks and it didn't ruin banks.
If you think about it, it's MORE secure this way. Think about all of the items involved... First you have to open the account, then buy an iPhone, and register the software.
Then fake a check with whatever info you had to gather about the targeted account.
The false check data that you transmit is probably tagged, possibly with information about it's capture location and nearby networks, and your phone's ID and information. Not to mention all of the info that can be accumulated using cell records about that particular iPhone, which no doubt includes GPS history and records from AT&T.
People are acting like you could just draw a check using a crayon and they'll post it to your account.
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farcedude promoted this comment Edited by DustyButt™ at 08/10/09 9:28 AM DustyButt™ was starred DustyButt™ was unstarred

tande04
08/10/09

@digidt: Never saw "Catch Me if You Can"? They're not opening themselves up to any kind of fraud that hasn't been around since the advent of checks. If nothing else the decrease in time that it takes a check to go through the system this way will probably prevent some fraud.
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Jrsy Devil's Advocate®
02/19/09

In reply to Humping Piggy Banks: Another Day, Another Dollar on the Sex Farm
Gives new meaning to the phrase, money shot..
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