BofA extends mobile phone banking services

Bank of America has extended its remote banking service so that customers can now access their accounts by Internet-enabled cell phones from anywhere in the United States.
Bank of America began rolling out its mobile banking service to consumers in March and now is providing the service to more than 20 million online customers across the country.
Using the Web browser built into most current cell phones or PDAs, consumers can check balances on their checking, savings and credit card accounts, as well as mortgages and home equity lines held with Bank of America; pay their bills; transfer funds between accounts and to other Bank of America customers; and view transactions for their accounts.
“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.”
Like computer-based banking, the mobile phone service includes protection from the bank’s SiteKey security service, as well as a “zero liability” online banking guarantee. A unique end-to-end security feature ensures information remains encrypted when sent between the mobile phone and the bank, BofA said.
“We’ve created a pocket-sized bank that can be taken anywhere,” Gupta said.
Bank of America is not the only large bank turning customers’ cell phones into automated teller machines. Wachovia and Citibank also offer similar services.