USAA bank iPhone app processes $1.5 million in check deposits since Tuesday

USAA's iPhone banking application, which lets users deposit checks by taking a photograph of the deposit, has processed $1.5 million in deposits in its first three days, mocoNews reports.

The application, which requires users to snap a photo of the front and back of a check before they can throw it away, and which we reported about on Tuesday, has been installed 150,000 times.

The company is reportedly preparing a version for BlackBerry, Palm's webOS, and Google Android.