The Charlotte based banking behemoth Bank of America (NYSE: BAC) seems to be heeding the client demand for mobile banking products. Today, the firm launched new mobile banking products and service enhancements including Mobile Check Deposit, Person-to-Person Email and Mobile Transfers and Mobile App Alerts. With these new offerings, Bank of America customers now have the ability to completely manage their finances through their mobile device – from depositing a check, to paying friends and family, to reviewing balances and much more.
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.”
Bank of America’s new Mobile Check Deposit function allows customers to deposit checks easily and securely without making a trip to the ATM or banking center. Once customers download the updated mobile application onto their tablet or smartphone, they can use the app to snap photos of the check and follow a few simple on-screen instructions to complete the deposit. Mobile Check Deposit is currently available on iPad® and will be available in the coming weeks on iPhone®, Google Android™ smartphone or tablet and Windows® Phone. Person-to-Person Email and Mobile Transfers allow customers to conduct person-to-person transfers via online banking or a smartphone using only an e-mail address or mobile phone number.
The new capability eliminates the need for customers to share personal account information, providing stronger protection from identity theft and making person-to-person transfers easier to complete. Bank of America consumer customers only complete a one-time enrollment in their online banking account. Then using online banking or the mobile banking app, customers can send funds to persons with a U.S.-based bank account from their Bank of America accounts without a fee.
In addition to paying people and depositing checks on the go, Bank of America has updated its mobile application so that customers can manage account alerts via their mobile device. Through the added Mobile App Alerts feature, customers can elect to receive push notifications of these alerts on their mobile device, another convenient option to stay informed about their accounts. Bank of America offers more than 50 alerts, including alerts for low balances, online card usage and irregular card activity. It is currently available for iPad®, and will be available in the coming weeks on the iPhone®, Google Android™ smartphone or tablet and Windows® Phone.