Bank of America has been serving millions of customers today and it provides online as well as offline banking services. Bank of America has made banking more easier for people and people feel secure to deposit their savings at the bank. It is a huge financial institution and along with Merrill Lynch Wealth Management, it retains a huge market share in its respective offerings. Bank of America also has operations under commercial banking but it has compulsorily not maintained retail branches in all the 50 states at United States, District of Columbia and around 40 other countries.
Apart from all this, Bank of America has also faced many state and federal lawsuits about claims that it defrauded investors. It had to pay $2.43 billion in the year 2012 for settling a class-action suit that involved allegations that Bank of America was not able to disclose to investors about the actual financial health Merrill Lynch. The bank has also been accused of making risky mortgage loans and misrepresentation of the quality of the loans to investors. It was also sued by U.S. government in the year 2013 and after that, they agreed to pay $16.65 billion.
But despite all this, Bank of America continues to provide its services to its customers and offer the best for customers’ satisfaction.
As stated earlier, Bank of America also offers online services for its customers. It is helpful for those who don’t have ATM cards or don’t like to step out of their house for making small transactions. Every bank ensures that the information of customers and their bank savings remain secure while making online transactions. So, that’s where two-factor authentication comes into use. It combines some information about which only you are aware of like a password, phone, code card or anything else.
But there have been instances where if someone uses his or her account on one device, the authentication process happens for the first time but it is still continued for the second or third time when he or she decides to use the online portal of the bank. This has proved to be a matter of irritation for many people and if you are going through the same, you can disable the two-factor authentication by following these steps –
- Sign in to Online Banking.
- Choose ‘Manage SafePass’ under ‘Profile & Settings’.
- Choose ‘Unsubscribe’ for every mobile phone that has been listed in there.
You must remember that even if you text ‘STOP’ from your phone, it cannot end the SafePass service.