AT&T rolls out mobile banking

If you’re an AT&T subscriber as well as a customer of Wachovia, SunTrust, Bancorp South, FirstBank, Synovus, Regions Financial Corp, America First Credit Union, or Arvest Bank Group, you’ll now be able to view your balances and conduct online bill paying right from your cell phone. The nation’s No. 1 wireless carrier has teamed with Firethorn Holdings and CheckFree in addition to these banks in order to brings its subscribers and added convenience. The application is set to be pre-loaded on all new handsets introduced by AT&T later this year. It can also be downloaded to over 30 of AT&T’s existing models.

“The ability to perform banking functions using a wireless handset is attractive for people who need to make financial decisions on the go — business travelers, college students, and anyone who desires the flexibility that wireless delivers,” said Mark Collins, VP of Consumer Data at AT&T’s wireless unit, in a statement.

The process is to first sign up with your bank or credit union. This can be done each firm’s online banking site. Customers will then get a code which links the mobile banking application to their bank account. Of course, a PIN will be required to access the application.

Once enrolled, subscribers can use the application to view account balances and history, transfer funds, and pay bills. All data is encrypted for security purposes and service is immediately deactivated if a cell phone is lost or stolen.

And guess what? It’s free. Okay, well, not really. It costs in the form of data transfers, which can be costly on a per-minute basis. Users are encouraged to sign up for AT&T’s mobile web, which starts at $10 per month. [Information Week]]]>