US bank leads with secure mobile service


US bank leads with secure mobile service

Antony Savvas

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 free service, which is more advanced than current UK schemes, will be offered to 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 the middle of this year, said the bank.

Using the standard mobile browser on their phone, users will be able to check balances for current, savings and credit card accounts, as well as balances on mortgages and home equity lines held with Bank of America. Customers will also be able to pay bills, transfer funds between Bank of America accounts and view account transactions.

An end-to-end security feature ensures customer data remains encrypted when sent between the mobile phone and the bank. Customers using the service are also protected with the bank's Sitekey ID verification service.

In the UK, Alliance & Leicester and HSBC last year launched more limited mobile banking services on the Monilink network from Morse.

Alliance & Leicester kicks off mobile banking service

HSBC to offer banking on mobiles

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