USAA is offering its consumer banking customers remote deposit. The new service is called Deposit@Home and enables consumers to make deposits from their home or office using a desktop scanner. A java applet recognizes the consumers scanner and imports the image directly to the USAA site where the consumer is directed to crop the image.
Deposit@Home has the potential to expand USAA's checking and savings customer base because until now USAA has relied on mail deposits. The company partnered with UPS on an expedited deposit program, but it is being replaced by Deposit@Home. USAA banking customers are reimbursed for fees when they use other banks ATMs.
It's easy and quick to use and deposits are posted immediately before 8:00 PM Central and the next day after 8:00 PM Central. The consumer receives a receipt with both front and back images of the check and is instructed to VOID and then destroy the item.
USAA offers banking, insurance, and brokerage services to military members and their families. I've had their insurance for years and recently moved my brokerage accounts over. With the new Deposit@Home service there is no reason not to move my checking account. I just wish they offered business banking services!
During her time at Glenbrook, Erin focused on client engagements in business payments, cross-border transactions, bill payment, and the intersection of corporate finance, banking, and ERP/accounting. She has nearly twenty years of experience leading increasingly complex payment initiatives for corporate clients and advising financial institutions and payment technologists on the development of their payment capabilities.
Erin is also the founder of Forte Financial, a consulting firm focused on corporate finance efficiency, technology, and process improvement. She is a past president of the Financial Women’s Association of San Francisco and also a two-term past president of the San Francisco Treasury Management Association. Erin is no longer with Glenbrook, but contributed greatly during her time at the firm.