Bank of America Introduces New eBanking Checking Account for Customers Who Prefer to Bank On-The-Go

In Exchange for Using an ATM for Deposits and Withdrawals and Receiving Paperless Statements, eBanking Customers Pay No Monthly Maintenance Fee

CHARLOTTE, N.C.--()--Bank of America today introduced eBanking, a new banking solution for customers who prefer to bank through convenient electronic channels and receive their statements online.

“Bank of America is listening to its customers and developing innovative products and services that respond to their changing needs and preferences,” said Susan Faulkner, Deposit and Card Products executive. “eBanking is only one of a number of new and forthcoming solutions that will allow Bank of America customers to choose how they want to bank with us, as well as how they want to pay for the service and products we provide.”

“eBanking is designed for customers who prefer the convenience and control of banking on their own schedule, whenever and wherever they choose,” she added. “Our customers have highly individualized needs, and we’re strengthening relationships with them by developing the products, services and solutions that will help them to manage their finances more effectively.”

eBanking customers who make deposits and withdrawals through Bank of America’s convenient electronic channels and receive online paperless statements pay no monthly maintenance fee, regardless of their account balance or number of transactions in a given month. Otherwise, the customer pays for the value of the account through an $8.95 monthly maintenance fee.

Customers who routinely prefer to do their banking in person or receive paper statements have the option to choose from other Bank of America accounts that may better fit their banking needs.

“More and more of our customers prefer to bank on-the-go – using online banking, ATMs, mobile banking and receiving statements electronically,” said David Owen, Payments Products executive. “eBanking was developed in direct response to the changes in how our customers want to bank. To meet those needs, we specifically designed this solution for those customers who prefer to bank how they want, when they want.”

Bank of America is uniquely positioned to offer this type of choice to its customers. eBanking customers can take advantage of the bank’s industry-leading solutions, including:

  • Nearly 13,800 deposit image-enabled ATMs across the country allow customers to feed checks and cash directly into the ATM slot and receive an image of their deposit on their ATM receipt.
  • Award-winning online banking provides more than 29 million active customers with fast, easy and safe access to their accounts.
  • Online bill pay lets customers pay virtually anyone, set up recurring payments and set up bill pay reminders. Customers can pay bills when or wherever they choose.
  • Mobile banking enables customers to use their mobile phones to check account balances, pay bills and transfer money. More than 5 million Bank of America customers manage their finances on-the-go through mobile banking.
  • Text banking lets customers stay connected to their account activity by receiving account and balance information within seconds through any mobile device that can send and receive text messages.
  • Automated alerts let customers know when their balances are low or when a payment is due so they can manage their balances and avoid overdraft or late payment fees.

Bank of America

Bank of America is one of the world's largest financial institutions, serving individual consumers, small- and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving approximately 57 million consumer and small business relationships with 5,900 retail banking offices, more than 18,000 ATMs and award-winning online banking with 29 million active users. Bank of America is among the world's leading wealth management companies and is a global leader in corporate and investment banking and trading across a broad range of asset classes serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to more than 4 million small business owners through a suite of innovative, easy-to-use online products and services. The company serves clients through operations in more than 40 countries. Bank of America Corporation stock (NYSE: BAC) is a component of the Dow Jones Industrial Average and is listed on the New York Stock Exchange.

www.bankofamerica.com

Contacts

Reporters May Contact:
Don Vecchiarello, Bank of America, 1.980.387.4899
don.vecchiarello@bankofamerica.com

Contacts

Reporters May Contact:
Don Vecchiarello, Bank of America, 1.980.387.4899
don.vecchiarello@bankofamerica.com