Tuesday, August 20, 2013

Bank of America hits 1 million small business mobile customers

Bank of America updates us quite a bit on how its mobile banking business is going, but Tuesday brings the first news I can recall on how it's performing among small businesses: The bank says it has now hit 1 million small business customers on its mobile platform.

The Charlotte bank's small business mobile app allows owners to check accounts balances and transactions, transfer money and make bill payments through their phone. It also have a remote deposit capture feature, which lets small businesses take pictures of a check to deposit them.

The milestone follows what for a time was a regular drumbeat of big numbers among retail customers. In May, CEO Brian Moynihan said the bank had crossed 13 million mobile banking customers.