- I'm extremely jealous of USAA's Deposit@Home feature. Depositing a check just by snapping a photo in an iPhone app? Yes, please.
- I've received an answer about the required linked account before, but I still don't like it. ING really can do everything I need from a bank - dealing with another one is just annoying.
- It sounds like you two are talking about depositing checks into an ING account by mail? I didn't even know that was possible. The only thing I use my linked checking account for is making deposits and then transferring them to ING. Why isn't this option mentioned in any help topics regarding deposits?
I use USAA and it is awesome. I have never used deposit@home because I generally go for direct deposit, but maybe I'll try it. They give you pre-paid stamped envelopes for depositing checks. That is what I use for the rare times I have to cash a random check. Now that I live in NYC with copious blue boxes, it is even easier.
To join USAA you have to be a veteran or a relative of a veteran. I'm lucky that both of my parents were in the Navy. I've tried other banks and always felt I was getting shafted in some way. USAA, on the other hand consistently makes you feel like you are getting a good deal.
Depositing a check by snapping a photo with a phone? That's pretty fancy! But perhaps it's something we should take a look at.
EFT is mostly inaccessible to customers. Checks work, and would avoid the bank #1 in my process, but take extra time to clear. Wire transfers work, but would charge me a decent sized fee every time.
Basically, it shouldn't be so difficult to transfer money between banks at the customer's level. But I also understand that interbank coordination is done at a higher level than any one bank. So ING for example can't just say "here's a new interface" and let people go for it.
I suppose my question is: how do we advance the banking system in areas that require system-wide simultaneous upgrades?
That said banks in the US have been very very slow to make this technology easy for customer's to use, partially because they just suck at user friendly technology, and partly because they don't want to make it too easy for people to move their money to an account at another bank.
In a way, I think we HAVE said "here's a new interface" and let people "go for it".
You also talk about the trouble of mailing a check 5000 miles (it's closer to 4000, but who's counting?). I'm sympathetic: what kind of system would you prefer? For instance, do you think you should be able to scan the check at your PC and enter it that way? Would you rather have a payments system so that you don't need to use checks at all? Nothing will happen magically tomorrow, but I'd be very interested to hear what HN readers think, and I'd keep it in mind as we work to improve our systems!
Starting a bank is HARD... I wish you luck in your endeavor, but it MAY be easier to find a "good" bank (different people may have different ideas about what that means) and support them. You are certainly welcome to pass on your good ideas to someone like me.