good news for Bank of America customers

[muzikool]

I remember seeing BoA mentioned in some previous threads, so I know there are some customers here who might be happy about this.

CHARLOTTE, N.C. (AP) -- Bank of America Corp. is rolling out a new online banking security system aimed at making it harder for cyberthieves to crack customer accounts, an effort that comes as the industry struggles with a recent string of high-profile security breaches.

"We definitely want to lead the industry by making online banking more secure," Bank of America e-commerce executive Sanjay Gupta said. "Right now, more than 50 percent of (banking) transactions take place online."

The Charlotte-based bank already leads the U.S. market with 13.2 million online banking customers and 6.4 million people who pay bills online.

Bank of America launched its new online security system, called SiteKey, last month in Tennessee. It is being rolled out this week in Virginia, Maryland and Washington, D.C., and should be available nationwide by the fall.

Full Story

 

[Jewelzz]

I don't think the bitching was about online secutiry, it was the BofA f*cks it customers a number of ways.

 

[Son Goku]

I think there was a slight mention to this... But yes, the complaint was more wrt over-draft fees and other such matters as I remember.

Good news nonetheless...though from one matter which I got in email, it does still bring up question of their backup tapes and the possiblity of them getting lifted from the UPS truck. BoA was, as I remember taking some steps following that...

As with any sort of security, it's as good as it's weakest point. If one has a world class security system at the front door, which is hard to crack...but then leaves the back door wide open; people wanting the info won't try to get through the front door. Not worth their time, when there's an easier point to poke a hole through their security...

 

[gonaads]

Damn... and here i'm thinking that they were gonna do away with their fvcked up ATM fees.


Yeah riiiiiiite.


And they say they want "to lead the way in making online banking more secure". Soooo, does that mean that all this time we were really never secure...? Scarry thought.

 

[muzikool]

What's the deal with the ATM fees? I'm asking because I don't know, and I'm thinking about becoming a BoA customer. It's the most pleasing option from what I've looked at so far.

 

[gonaads]

What's the deal with the ATM fees? I'm asking because I don't know, and I'm thinking about becoming a BoA customer. It's the most pleasing option from what I've looked at so far.

This is an old story, but it's worth the read.

http://www.cnn.com/ALLPOLITICS/time/1999/11/22/ATM.war.html

Here is some info from B of A on their ATMs:

http://www.bankofamerica.com/search/?question_box=ATM fees&ui_mode=question

Here is their schedule of fees:

http://www.bankofamerica.com/accessiblebanking/pdf/05-11-3000B.pdf

 

[muzikool]

Ok, thanks.

My bank now charges for non-bank ATM usage, so I guess I'll already be used to that. BoA has more ATMs around though, plus I hardly ever use them.

I would bypass the fees because of direct deposit into checking, and then a percent of that transferred to savings in order to eliminate the savings fee as well. I think doing all of that gets me checking and savings accounts with no fees!