Bank of America Emphasizes Simple Ways to Manage Money

"Customers told us they want simple ways to manage their money and track their accounts when, where, and how they want," said Liam McGee, President, Global Consumer & Small Business Banking, Bank of America. "We're encouraging customers to take control through a variety of industry-leading tools and resources -- all of which are free to them."

The tools, which combine convenient new innovations in technology with dependable resources to safeguard consumers, provide greater control and access to account information. "Our research shows that if we equip consumers with this account information, they become more empowered to manage their finances and more satisfied with their banking experience," added Bruce Hammonds, president, Bank of America Card Services.

• Online Banking allows customers to view their accounts and know where they stand with their latest checking, savings and credit card account activity. Customers can track activity, transfer funds and pay bills anytime, anywhere they have a computer with Internet access.
• E-alerts are messages sent to customers' computers, PDAs or mobile phones that they can individually customize to better manage their accounts and also help protect against identity theft.
• Account Linking helps ensure that funds are automatically transferred from a customer's savings account, line of credit, or credit card to his/her checking if payments exceed the checking account balance.

"Consumers can build a smart and simple personal finance strategy if they have access to clear information and easy-to-use products and services," noted Julie Morgenstern, best-selling author and an expert on organization and time management. "By educating consumers about these tools, Bank of America is helping their customers play a more active role in their financial management."