More than one million customers constitute signed users base of Web-based mobile

[img_assist|nid=8137|title=|desc=|link=none|align=left|width=100|height=42]More than one million customers constitute the signed users base of Web-based mobile banking service introduced last year by the Bank of America.
The service was launched by BoA in March 2007 to online banking customers in selected markets. The service was expanded across the US in May.
Any customer having mobile Internet access may use the free service. Here subscribers can check balances, pay bills, transfer funds, view posted and pending transactions and locate banking centers and ATMs.

Viewing account balances is most popular with almost all customers, transactions review is made by 80 percent of users and 40 percent use their handsets to transfer funds or pay bills.

"Mobile Banking provides consumers with the convenience of managing their finances on-the-go, right from their handheld device," says Lance Drummond, e-commerce and ATM executive for Charlotte, N.C.-based BoA. "We see over 100,000 users daily on peak high-usage days."

The use of the service is growing every month whereas in May 2008 alone over four million account sessions were registered.

As per BoA 2/3 of its customers using mobile banking services are individuals at the age of 35 while 4/5 of users are around 45.