By Ranjan Bhaduri
July 15, (THAINDIAN NEWS) Bank of America has planned an unique initiative to lure new users and retain the existing ones. The new checking account that is being offered by the bank does not require the customers to have any balance and above all it is free. The word free is applicable as long as the customers do not require paper statements and resort to Bank ATMs mostly in place of the branches. While this may seem rudimentary to some people for some other customers living a jet set life this is a boon. Besides, a lot of work can be done through the ATMs these days. The bank is calling the new account eBanking.

The payment product executive of the bank David Owen said that the new account is a response to what the customers are demanding these days. A lot of tech savvy customers feel more comfortable doing transaction and accessing account information through the web and their mobiles. They do not like the idea of spending time by going to the bank branches physically. Both youngsters and executive users feel this way.

The customers of the bank who will use this account will get their monthly statement oblige instead of getting mails. For all other accounts being offered by the bank the users have to maintain a minimum balance and also a fee for getting various facilities. It was launched experimentally in Georgia and encouraged by the response there the bank has decided to start it all over the USA. The account will be made available to all user of the bank from the first week of August as Bank of America has reported.