Bank of
America’s 21 million online banking customers are being offered
an advanced secure mobile banking service to allow them to check
balances, pay bills and transfer money.
The service is more advanced than many of the mobile banking
schemes offered in the UK, with bill paying and money transfers
being allowed.
The free service will be offered to online customers across the
US. The service will be launched in Tennessee at the beginning of
March and will be rolled out across the country from mid-year, said
the bank.
"We are taking convenience and control to a new level by
providing customers with the ability to stay connected with their
finances when they're on the go," said Sanjay Gupta, e-commerce
executive at Bank of America.
The service will be accessible to consumers who have mobile
internet access via operators
Verizon Wireless,
Sprint-Nextel,
Cingular and
T-Mobile.
More than 85% of mobile phone subscribers in the US currently
have the capability to access mobile internet through their cell
phones, said the bank.
However, as in the UK, many US mobile users have not enabled
their mobile internet functionality on their phones, or do not use
it.
Using the standard mobile browser on their phone, users of the
service will be able to check account balances for current, savings
and credit card accounts, as well as balances on mortgages and home
equity lines held with Bank of America.
They will also be able to pay bills, transfer funds between Bank
of America accounts, and view transaction details.
Customers accessing online banking from their mobile are
protected with the bank's
Sitekey security service, as well as its
Zero Liability Online Banking Guarantee.
To help protect customer information, the bank has developed an
end-to-end security feature that ensures information remains
encrypted when sent between the mobile phone and the bank.
To activate mobile banking, customers register through the
bank's online banking service at
www.bankofamerica.com.
Once registered, customers can begin using the internet browser on
their mobile phone to access their accounts, similar to how they
use their computer to access the same services.
Bank of America customers can already access locations of ATM
and banking centres from their mobile phone browser. In addition,
they can receive a variety of e-alerts via e-mail or as a text
message on their mobile phone, that helps them detect possible
fraud and keep track of their accounts.
Alliance & Leicester and
HSBC in the UK have recently launched more limited mobile
banking services.
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