Six months after announcing free online bill payment for new customers, Bank of America said it has reached a record 1.5 million active, online bill payers.
The announcement in May about free online bill payment has helped generate interest in paying bills online through :
* The number of customers using online bill payment increased from 1 million to 1.5 million during the first six months of the promotion.
* The overall number of active Online Banking subscribers grew from 3.1 million to 4.35 million in six months, reinforcing Bank of America’s lead in the industry.
* Since the beginning of the year, the number of people using Bill Pay increased by 74%.
* In the past two years, customers increased the number of bills they paid through Online Banking from 3 million a month to 8.3 million a month.
“We’re thrilled with the way customers are finding the benefits of free online bill payment,” said John Rosenfeld, Consumer and Small Business e- Commerce executive. “The response has exceeded our expectations. We’re leading the way with a national trend of people discovering the convenience of paying their bills online.”
With Online Banking and Bill Pay, customers can view their accounts, transfer money between accounts and receive and pay bills for free.
About Bank of America
Bank of America is a leading provider of online financial services. Bank of America was named among the Best of the Web by Forbes and Top Financial Web site by Nielsen NetRatings, based on traffic. Global Finance magazine named bankofamerica.com the world’s best consumer Internet banking site. Bank of America stock (ticker: BAC) is listed on the New York, Pacific and London stock exchanges.
