Banks faces trouble while trying to switch people from paper to email. Due to the growing fraud on online banks, investors keep a distance from online bank. Although most banks aim to switch users to online banking as this has lower costs for them � no cost of postage or paper.
Some banks such as Credit Union charge people some amount of money if they want their bank statement by post. But bank of America is promoting online banking by giving away 5 dollars to those who stop their delivery of paper statement. Even on their website there is this link that allows users to test these services so that they become accustomed with the system.
I think is a good way to spread this new culture. Online banking is profitable both for the bank and the investor. Hence, by cultivating this online- banking culture, banks ensure more profit not only for themselves but in the long term they can offer better interest rates (as their expenses are reduced)
In order to ensure their customers, they are also giving Norton Protection at 50 % off. To add to this high-tech culture Bank Of America has also introduced Mobile Banking too. Besides to make online banking more user friendly their link
provides guidance to the users who are new to online banking. Such guidance ascertains a person about the registration steps and make one feel more secure.
Their online facilities include downloading a personal financial management software
Download your accounts,
Track investments
Pay bills directly through Financial Management software.
Viewing balances and transactions for Bank of America checking, savings, money market and credit card accounts.
Pay your bills online
Transfer funds online.
Track taxable entries and tax deductible items.
Plus their online banking user guide gives members directions about online banking. Hence, their promotion campaign is quite elaborate which harbingers a great success and profit for the company.
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