According to MoCo News, USAA, a bank which caters to the military, reported that $1.5 million in checks have already been deposited via an iPhone app that was launched three days ago.

The app allows iPhone owners to scan a check via the iPhone’s camera and deposit it into a USAA account. The USAA iPhone app has been installed on around 150,000 iPhoness and was updated by 58,000 users, so far.

USAA is currently working on BlackBerry, Palm Pre and Android verisons of the banking application.

For a video demo of the USAA iPhone check deposit app, read our original article. . West Virgina Federal Credit Union launched a simpler iPhone deposit app last week.