Bank of America’s Mobile Banking Service Grows to 500,000

CHARLOTTE — Six months after rolling out its Mobile Banking service to consumers nationwide, Bank of America today said it has reached a record 500,000 active mobile customers. According to a recent TowerGroup report, that’s more than all other U.S. banks combined.

Bank of America, the nation’s leader in online banking with 23 million active online customers, introduced Mobile Banking service in March to consumers in selected markets and expanded the service across the country in May.

“We’re thrilled with the initial customer response and expect this trend to continue as more people discover the convenience of accessing their accounts while on-the-go,” said Lance Drummond, e-Commerce and ATM executive for Bank of America. “Mobile Banking gives our customers the freedom, control and security to bank anywhere, anytime.”

With Mobile Banking, consumers can use phones that have Internet access to:

• Check balances on their checking, savings and credit card accounts, as well as mortgages and home equity lines held with Bank of America.
• Pay their bills and e-bills.
• Transfer money between accounts and to other Bank of America customers.
• View transactions for checking and savings accounts, mortgages and home equity lines, including posted and pending transactions.
• Access directions to ATMs and banking centers.

Customers are protected with the bank’s SiteKey ® security service, as well as its Zero Liability Online Banking Guarantee. To help protect customer information, the bank has developed a unique end-to-end security feature that encrypts information when sent between the mobile phone and the bank.

The Web-based service is accessible via most major carriers that have mobile Internet access and requires no downloading of software. To access Mobile Banking, customers simply go to the Web browser on their mobile phone and enter www.bofa.mobi. Once on the site, customers enter their Online Banking ID and passcode to access their accounts.

For more information on Bank of America’s online and mobile banking services, consumers can visit www.bankofamerica.com/anywhere.

About Online Banking

Bank of America is a leading provider of online financial services, and its online site, www.bankofamerica.com, has received widespread recognition. The site is among the top 50 of all U.S.-based Internet properties in terms of unique visitors monthly, and No. 1 among business and finance sites, according to comScore Media Metrix. Nielsen/NetRatings ranks Bank of America as the top online full-service bank destination in terms of audience, page views and active reach on the site. Bank of America has ranked No.1 in Javelin Strategy & Research’s safety scorecard four years in a row. BusinessWeek called the SiteKey™ security service one of the best products of 2005. Bank of America won the Webby Award in 2006 and the Webby People’s Choice Award in 2006 and 2007 in the online banking/bill pay category. Global Finance magazine named bankofamerica.com the best consumer Internet bank in the world and ranked the bank No. 1 for its bill payment and presentment and online consumer credit sites.

About 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 57 million consumer and small business relationships with more than 5,700 retail banking offices, more than 17,000 ATMs and award-winning online banking with more than 22 million active users. Bank of America is the No. 1 overall Small Business Administration (SBA) lender in the United States and the No. 1 SBA lender to minority-owned small businesses. The company serves clients in 175 countries and has relationships with 98 percent of the U.S. Fortune 500 companies and 80 percent of the Fortune Global 500. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange.

# # #

November 28, 2007

Reporters May Contact:
Betty Riess
415.622.6397
Betty.riess@bankofamerica.com