Bank of America Introduces Leading-Edge Mobile Banking for More Than 21 Million Online Banking Customers

CHARLOTTE, N.C., Feb. 13 /PRNewswire/ -- Bank of America Online Banking customers will be able to use their cell phones and smartphones when they're on-the-go to check account balances, pay bills and transfer money with the launch of secure mobile banking, the bank announced today.

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.

"We're taking convenience and control to a new level by providing customers with the ability to stay connected with their finances even when they're on the go," said Sanjay Gupta, e-Commerce executive for Bank of America. "If you have a cell phone, you have the opportunity to take advantage of the latest innovation from the country's leading online bank."

The service will be accessible to consumers who have mobile Internet access via Verizon Wireless, Sprint-Nextel, Cingular and T-Mobile. More than 85 percent of mobile phone subscribers in the U.S. currently have the capability to access mobile Internet through their cell phones. Customers will also be able to use a wide variety of mobile phones and devices, including Motorola, Nokia and LG handsets or popular smartphones, such as Palm Treo(TM), RIM Blackberry(R) or Motorola Q(TM).

Using the mobile browser on their cell phone or smartphone, consumers will be able to access a full range of Online Banking services, including:

   - Check account balances for checking, savings and credit card accounts,
     mortgages and home equity lines held with Bank of America.
   - Pay bills.
   - Transfer funds between Bank of America accounts.
   - View transaction details for Bank of America checking and savings
     accounts, mortgages and home equity lines, including posted, pending
     and scheduled transactions.

"Now consumers can verify their account balances at the check out counter to ensure they have enough funds in their accounts or pay their bills while commuting to work or waiting in line," Gupta added.

Customers accessing Online Banking from their cell phone or smartphone are protected with the bank's SiteKey (R) 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 ensures information remains encrypted when sent between the mobile phone and the bank.

To activate mobile banking, customers will simply register through the bank's Online Banking service at bankofamerica.com. Once registered, customers can begin using the Internet browser on their mobile phone to access their accounts, similar to how they use their computer to access Online Banking services.

Bank of America customers already can access locations of ATM and banking centers from their mobile phone browser. In addition, they can receive a variety of e-alerts via e-mail or as a text message on their mobile phone that helps them detect possible fraud and keep track of their accounts.

Bank of America has been a leader in introducing innovative online services, such as free online bill pay, SiteKey(TM), free online equity trades and Business 24/7(TM).

About Online Banking

Bank of America is a leading provider of online financial services, and its online site, http://www.bankofamerica.com/, has received widespread recognition. Bank of America has the most online bankers in the world, according to Financial Insights. The site is among the top 50 of all U.S.-based Internet properties in terms of unique visitors monthly, and No. 1 among business and finance sites, according to comScore Media Metrix. Bank of America ranked No.1 in Javelin Strategy & Research's Identity Fraud Safety Scorecard in 2004 and 2005. BusinessWeek called the SiteKey(TM) security service one of the best products of 2005. Bank of America won the Webby Award and Webby People's Choice Award in 2006 in the online banking/bill pay category. Global Finance magazine named bankofamerica.com the best consumer online banking site in the U.S. and ranked the bank No. 1 for its online investment management services, bill payment and presentment, information security initiatives and integrated consumer bank site. In 2006, Nielsen/NetRatings said Bank of America is the top online full-service bank destination in terms of audience, page views and active reach on the site. In 2005, the site was ranked among the Forbes Best of the Web.

Bank of America

Bank of America is one of the world's largest financial institutions, serving individual consumers, small and middle market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk-management products and services. The company provides unmatched convenience in the United States, serving more than 55 million consumer and small business relationships with more than 5,700 retail banking offices, through more than 17,000 ATMs and award-winning online banking with more than 21 million active users. Bank of America is the No. 1 overall Small Business Administration (SBA) lender in the United States and the No. 1 SBA lender to minority-owned small businesses. The company serves clients in 175 countries and has relationships with 98 percent of the U.S. Fortune 500 companies and 80 percent of the Global Fortune 500. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange.