Depositing checks via iPhone: Last link in paperless revolution

This could be one of the last links in a completely paperless existence: depositing a paper check with your iPhone. Stepping up to do its part in the paperless revolution is the USAA bank, rolling out an iPhone app this week that lets you snap a pic of each side of a check and e-send it into the bank for deposit.

After that, you can just tear up and toss that check if you're as paper-averse as we are, or you might just want to scribble "void" on it and stow it away for your records. Either way, this looks like a great digital way to eliminate that last link that requires you to use the currently floundering U. S. Postal Service.

There is a slight catch: the USAA Bank is only open to active-duty military personnel, but we're hoping this is an idea that might catch on industry-wide. Then, maybe we can all finally go paperless, with paper check supplanted by e-transactions such as direct deposit and PayPal, getting rid of paper altogether. The future is bits, people.

Via New York Times