Mobile banking finds new users, thanks to Apple’s iPhone

“Banks are making it easier than ever for consumers to access account information on their mobile devices,” Ben Worthen reports for The Wall Street Journal.

“Big banks are offering new services or improving existing ones that allow people to access their accounts while on the go. In January, Bank of America Corp. launched an updated software application that allows consumers to check their balances and pay bills through Apple Inc.’s iPhone. Wells Fargo & Co. has begun promoting a service that lets business clients approve wire transfers through their cellphones. And mobile banking is at the center of a major new ad campaign from Chase, a division of J.P. Morgan Chase & Co, which is offering a service that lets customers check their balances and get other information via text messages,” Worthen reports. “Smaller banks are beginning to invest in mobile services as well.”

Worthen continues, “Overall, the number of people in the U.S. that use mobile-banking services grew to 3.1 million in 2008 from 400,000 in 2007, and that number is expected to hit seven million this year, according to ABI Research.”

“Bank of America now has 1.9 million active users of its mobile-banking service, up from one million at the end of June 2008. About 29 million people use the bank’s online-banking service from a computer,” Worthen reports. “About 40% of Bank of America’s mobile customers access the service through an iPhone or an iPod touch; more than 60% of the people who use BankPlus’s service do so via an iPhone or a BlackBerry.”

Full article here.

MacDailyNews Take: Bank of America? What’s that, the U.S. Congress’ new name?

[Thanks to MacDailyNews Readers “James W.” and “Judge Bork” for the heads up.]

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