Bank of America introduces mobile banking

As cell phones become more sophisticated in the functions they offer, it wasn't too long before big business followed the entertainment industry in jumping on the wireless broadband technology bandwagon.

Case in point: Bank of America recently announced that its online customers will soon be able to use their cell phones and smart phones to check account balances, pay bills and transfer funds. Yesterday, the bank formally launched the secure mobile banking initiative for its 21 million online banking customers. The service will kick off in March in Tennessee and will roll out across the country by mid-2007.

"We're taking convenience and control to a new level by providing customers with the ability to stay connected with their finances even when they're on the go," said Sanjay Gupta, e-commerce executive for Bank of America Corp. (NYSE:BAC), in the statement. Customers who have mobile Internet access through Verizon Wireless, Sprint Nextel, Cingular Wireless or T-Mobile will be able to access the new service.

As a Bank of America customer (in Massachusetts), I look forward to remotely checking my (usually small) balance anywhere or anytime. I'm sure Citibank and others have similar plans in the works. (Now when will I be able to withdraw cash from my cell phone???)