Bank of America (BofA) has launched new mobile banking
products and service enhancements via which customers can deposit
cheques using their mobile banking app.

BofA’s new mobile check deposit function
allows customers to deposit cheques without making a trip to the
ATM or bank branch by clicking a photo of the cheque with the
mobile device in use and following on-screen instructions to
complete the deposit.

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The mobile-banking enhancements also include
person-to-person email and mobile transfers and mobile app alerts.
According to BofA, the new offerings will give customers the
“ability to completely manage their finances through their mobile
device”.

At present the cheque deposit service is
available on iPad and will, reportedly, be available on iPhone,
Google Android smartphone or tablet and Windows Phone
platforms by mid-August.

Aditya Bhasin, consumer marketing and online
and mobile executive, said:

“Our customers are living in a more connected
world and that extends to their financial lives. This ‘always-on’
environment calls for more convenience, control and flexibility,
and we are providing it. Our new capabilities deliver the full bank
in our customers’ hands.”

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The person-to-person email and mobile
transfers is an enhancement to BofA’s existing online banking
person-to-person transfer service –
an open payment processing network powered by clearXchange and
owned by Bank of America, JPMorgan Chase and Wells Fargo. 
Through the added mobile app alerts feature, customers can also
manage account alerts and elect to receive push notifications of
alerts on their mobile device.