TIME Magazine reported this week that CitiBank unveiled a new product that enables users to bank by phone. The free service, called Citi Mobile, allows customers to pay bills, check account balances and transfer funds, regardless of which wireless carrier they use.
According to CitiBank's Web site, Citi Mobile "is a convenient, secure, and easy-to-use service that lets you do your day-to-day banking on your mobile phone. You can use it to pay bills, transfer money, see your balances and activity, find a Financial Center or ATM and connect directly to Customer Service—right from your cell phone."
While Wachovia and Bank of America have recently come out with similar offerings, Citi Mobile is the first downloadable mobile banking service offered by a major bank in the U.S. Citi Mobile has been designed to work on a wide range of phones across several U.S. wireless carriers.
The service is currently available now in southern California and plans to expand nationwide this summer.
View the entire article at Time Magazine's "Banking Goes Mobile"