Mobile Banking Is Here
November 19, 2007
For certain consumers, mobile banking is here. Recently, AT&T announced that it now offers mobile banking to Wachovia and SunTrust customers. This is according to the San Antonio Business Journal.
By teaming up, Wachovia and SunTrust customers will now have the option to view their account balances and transaction history, electronically transfer funds, and electronically pay bills from their AT&T wireless handsets. As you might imagine, these wireless transactions will be encrypted for security purposes.
As AT&T is the country’s biggest wireless communications company it is well suited for this service. AT&T is offering the new banking service for download on more than thirty of its most popular cell phones. That will add up to nearly thirty million devices that are currently on the market. Later this year, the mobile banking program and application will be pre-loaded on new cell phones. However, consumers will have to have an AT&T wireless plan in order to use the mobile banking features.
“The ability to perform banking functions using a wireless handset is attractive for people who need to make financial decisions on the go — business travelers, college students and anyone who desires the flexibility that wireless delivers.” This is according to Mark Collins, vice president of consumer data for AT&T’s wireless unit