Bank of America hits 500,000 mark for m-banking in six months

Six months after rolling out its m-banking service to consumers nationwide, Bank of America says it has reached a record 500,000 active mobile customers. According to a recent TowerGroup report, that's more than all other US banks combined.

Bank of America, the US's leading online bank with 23m active online customers, introduced m-banking in Q1 2007 to consumers in selected markets and expanded the service across the country in Q2 (MPW 95, 105).

"We're thrilled with the initial customer response and expect this trend to continue as more people discover the convenience of accessing their accounts while on-the-go," says Lance Drummond, executive, e-commerce and ATM, Bank of America. "Mobile Banking gives our customers the freedom, control and security to bank anywhere, anytime."

Customers 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 a unique end-to-end security feature that encrypts information when sent between the mobile phone and the bank.

The web-based service is accessible via most major carriers that have mobile internet access and requires no downloading of software. To access, customers simply go to the web browser on their mobile and enter www.bofa.mobi. Once on the site, customers enter their Online Banking ID and passcode to access their accounts.