Bank of America, the nation's leading provider of online and mobile banking services, today announced the release of the SafePass Card.
The new wallet-sized card essentially builds on SafePass, a one-time-use, six-digit code sent as a text message to consumers' mobile devices to authorize and help safeguard sensitive transactions. This offering from Bank of America is the latest in a host of security features that provide individual, small business and brokerage customers with an extra layer of security against unauthorized transactions.
"The introduction of the SafePass Card extends this additional layer of security to customers who prefer to receive it through a card instead of their mobile phone," said Lance Drummond, e-Commerce and ATM executive for Bank of America. "Now, customers have an additional way to access security products that help them to manage their finances safely on-the-go."
The benefits of using the SafePass service include:
- Additional layer of security for online transfers and BillPay
- Authorizing new individual or company payees
- Allows for increased transfer limits
- Supplementing the security of SiteKey authentication for
transactions from unrecognized computers and mobile devices
The new SafePass Card is one of Bank of America's strongest protections guarding against Online Banking fraud and identity theft. Customers simply push the embedded button on the card to receive a one-time-use, six-digit security code. Should the SafePass Card be lost or stolen, the card contains no personal account information for authentication purposes.
The SafePass Card is available for a one-time fee of $19.99, while the mobile-phone-based SafePass is still a free service to all customers.