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Bank of America Bringing New Mobile Features to a Premiere Class Platform

Adds Mobile Check Deposit, Person-to-Person Email and Mobile Transfers and Mobile App Alerts to Provide Customers More Control and Convenience

Thursday, July 26, 2012 3:00 pm EDT

Dateline:

CHARLOTTE, N.C.

Public Company Information:

NYSE:
BAC
"Our new capabilities deliver the full bank in our customers’ hands."

Bank of America today launched new mobile banking products and service enhancements including Mobile Check Deposit, Person-to-Person Email and Mobile Transfers and Mobile App Alerts. With these new offerings, Bank of America customers now have the ability to completely manage their finances through their mobile device – from depositing a check, to paying friends and family, to reviewing balances and much more.

“Our customers are living in a more connected world and that extends to their financial lives. This ‘always-on’ environment calls for more convenience, control and flexibility, and we are providing it,” said Aditya Bhasin, Consumer Marketing and Online and Mobile executive. “Our new capabilities deliver the full bank in our customers’ hands.”

Check deposits go mobile

Bank of America’s new Mobile Check Deposit function allows customers to deposit checks easily and securely without making a trip to the ATM or banking center. Once customers download the updated mobile application onto their tablet or smartphone, they can use the app to snap photos of the check and follow a few simple on-screen instructions to complete the deposit. Mobile Check Deposit is currently available on iPad® and will be available in the coming weeks on iPhone®, Google Android™ smartphone or tablet and Windows® Phone.

Sending money is easier than ever

Person-to-Person Email and Mobile Transfers allow customers to easily conduct person-to-person transfers via online banking or a smartphone using only an e-mail address or mobile phone number.

The new capability eliminates the need for customers to share personal account information, providing stronger protection from identity theft and making person-to-person transfers easier to complete.

Bank of America consumer customers only complete a one-time enrollment in their online banking account. Then using online banking or the mobile banking app, customers can send funds to persons with a U.S.-based bank account from their Bank of America checking account or savings account without a fee.

Person-to-Person Email and Mobile Transfers is an enhancement to Bank of America’s existing online banking person-to-person transfer service. The new service is powered by clearXchange, the open payment processing network owned by Bank of America, Chase and Wells Fargo. It is currently available in the mobile app on iPad®, iPhone®, Google Android™ smartphone or tablet, Kindle Fire™ and Windows® Phone or via mobile browser in select states and nationwide by mid-August.

Stay informed on the go

In addition to paying people and depositing checks on the go, Bank of America has updated its mobile application so that customers can manage account alerts via their mobile device. Through the added Mobile App Alerts feature, customers can elect to receive push notifications of these alerts on their mobile device, another convenient option to stay informed about their accounts. Bank of America offers more than 50 alerts, including alerts for low balances, online card usage and irregular card activity. It is currently available for iPad®, and will be available in the coming weeks on the iPhone®, Google Android™ smartphone or tablet and Windows® Phone.

Bank of America offers customized, downloadable applications for the most popular mobile platforms, including iPhone®, iPad®, Google Android™, BlackBerry®, Windows® Phone, Google Android Tablet™ and Kindle Fire™.

In addition, Merrill Edge gives its customers access to downloadable apps for iPhone®/iPod Touch®, Google Android™ and BlackBerry® mobile devices. These apps give Merrill Edge customers “anywhere/anytime” access to their investment accounts and current market activity.

For more information on the new mobile banking enhancements, visit bankofamerica.com/mobilebanking.

Bank of America

Bank of America is one of the world's largest financial institutions, serving individual consumers, small- and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving approximately 56 million consumer and small business relationships with approximately 5,600 retail banking offices and approximately 16,200 ATMs and award-winning online banking with 30 million active users. Bank of America is among the world's leading wealth management companies and is a global leader in corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 4 million small business owners through a suite of innovative, easy-to-use online products and services. The company serves clients through operations in more than 40 countries. Bank of America Corporation stock (NYSE: BAC) is a component of the Dow Jones Industrial Average and is listed on the New York Stock Exchange.

For more Bank of America news, visit the Bank of America newsroom.

www.bankofamerica.com

Merrill Edge is available through Merrill Lynch, Pierce, Fenner & Smith Incorporated (MLPF&S), and consists of the Merrill Edge Advisory Center (investment guidance) and self-directed online investing.

Banking products are provided by Bank of America, N.A. and affiliated banks, Members FDIC and wholly owned subsidiaries of Bank of America Corporation.

www.merrilledge.com

Investment products:

Are Not FDIC Insured   Are Not Bank Guaranteed   May Lose Value

© 2012 Bank of America Corporation. All rights reserved.

Contact:

Reporters May Contact:
Tara Burke, Bank of America, 1.203.292.6590
tara.a.burke@bankofamerica.com