Bank of America To Begin Cell Phone Banking

For everyone who has ever wanted to transfer funds while riding the bus, Bank of America’s cell phone banking system is about to go live. From their Press Release:

Bank of America’s free mobile banking service, delivers more convenience and control to customers by providing secure access to their banking information anywhere, anytime. The bank is launching the service in Tennessee beginning in March and will roll mobile banking out to markets across the country through mid-year.

BOA claims to have some sort of special encryption action going on, and they claim that 85% of cell phone users have the capability to access their new service. The service is open to those of you who have Verizon Wireless, Sprint-Nextel, Cingular and T-Mobile, and works on a variety of phones. Are you into this? Sort of freaks us out to tell you the truth, but we have an anti-cell phone bias.—MEGHANN MARCO

Bank of America Introduces Leading-Edge Mobile Banking for More Than 21 Million Online Banking Customers (Press Release
) [PRNewswire]

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  1. josh1701 says:

    I agree with Meghann, if you’re already using a phone, why don’t you just use their telephone banking service?

  2. Steve says:

    If nothing else, it would be convenient to be able to check your balance via cell phone and maybe transfer funds to avoid overdraft charges. It is kind of scary, though, given that all your data could be floating around, but I can’t imagine that it’s any less secure than if you were to do online banking on your laptop over wi-fi, especially on a public hotspot.

  3. madktdisease says:

    uh, my old bank, citizens’ bank, was doing that years ago. how is this new? all i had to do was set a seperate PIN, call teh 800 number, and i could check my balance and transfer money, as well as listen to the last umpteen transactions. and i’d rather hide my money in my mattress than use BoA.

  4. muddgirl says:

    Certain accounts at my bank (BofA) are charged for telephone transactions (3 free a month, or something), while online transactions are free. Of course, I still would not feel comfortable using my cell phone in a public place to access my account.

  5. lookzgood2me says:

    I just hope they have that guy singing the U2 song while I’m on hold.