Bank of America (BofA) has rolled out a suite of new mobile banking products and service enhancements including mobile check deposit, person-to-person email and mobile transfers and mobile app alerts, to provide customers more control and convenience.
Customers will now be able to manage their finances through their mobile device from depositing a cheque, to paying friends and family, to reviewing balances and much more.
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Bank of America consumer marketing and online and mobile executive Aditya Bhasin said, "Our customers are living in a more connected world and that extends to their financial lives."
"Our new capabilities deliver the full bank in our customers’ hands," Bhasin added.
Bank of America’s new mobile check deposit function enables users to deposit cheques easily and securely without visiting the ATM or bank branches. After downloading the app, the user can click photos of the cheque using their smartphone and follow a few simple on-screen instructions to complete the deposit.
Another offering – person-to-person email and mobile transfers – helps customers to easily conduct person-to-person transfers through online banking or a smartphone using only an e-mail address or mobile phone number.
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By GlobalDataIn addition, the new service abolishes the need for customers to share personal account information, providing stronger protection from identity theft and making person-to-person transfers easier to complete.
After completing one-time enrollment in their online banking account, BofA’s customers using online banking or the mobile banking app, can send funds to persons with a US-based bank account from their Bank of America current account or savings account without a fee.
The lender said that person-to-person email and mobile transfers, powered by clearXchange, is an enhancement to its existing online banking person-to-person transfer service. The new service opens payment processing network owned by Bank of America, Chase and Wells Fargo.
