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Bank On Your Mobile

The Bank of America goes beyond using mobiles merely for debit and credit updates. It has introduced the mobile banking facility that allows its customers to completely track their bank accounts on their mobile phones. The account holders can access their accounts 24X7, wherever they may be, through their snazzy or simple mobiles. This facilitates transfer of funds to make Bank of America debt repayments or fund transfers to another bank account. It also helps them track transactions, set up bank alerts and receive account information on their mobile phones. Obviously, this proves to be a great advantage for customers as they can prevent overdraft fees on their checking account and overlimit fees on their credit card. Last week, we spoke about how mobile banking is evolving. So is going beyond simple transactions also a step in this direction?

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