Mobile banking extends the convenience and control of online banking to anywhere our customers are, said Sanjay Gupta, e-commerce executive for Bank of America. If you own a cell phone with mobile internet access, you are connected to your finances anytime, anywhere. We’re pleased to continue to set the standard for introducing industry-leading financial tools for customers.
The rollout began in March 2007 and the service now reaches more than 20 million online customers across the US. Using the web built into most current cell phones or smartphones, consumers can check balances, pay bills and transfer money between accounts and to other Bank of America customers.
To ensure a high level of security is executed, the bank has developed a unique end-to-end security feature that ensures information remains encrypted when sent between the mobile phone and the bank. Moreover, customers are protected with the bank’s SiteKey security service, as well as its zero liability online banking guarantee.
The web-based service is accessible via most major carriers that have mobile internet access and requires no downloading of software. According to the bank, more than 85% of the 200 million mobile phone subscribers in the US currently have the capability to access mobile internet through their cell phones.
