Bank of America is one of the well-known bank stocks at the market and comes among the four big U.S. banks and millions of Americans are aware about this. The roots of this bank can be traced back to 1904 and at that time, Bank of Italy was established by Amadeo Giannini at San Francisco. It was initially established for serving working-class citizens in one area and specifically Italian-Americans and the bank saw its growth at a fast pace and eventually came to be known as Bank of America in 1930.
The disruptive payment technologies have soared in terms of popularity in the last few years and the internet-only banks have increased and so, Bank of America has emerged as a leader in the digital banking technology and has also adopted it. The bank was ranked in the first position in the year 2016 in terms of online banking and mobile banking functionality and has launched around 8,500 cardless-enabled ATMs. 20% of their deposit transactions are now made with the help of the mobile platform and is now up from 16% around one year ago. Around 22 million customers of the Bank of America have been using the mobile platform of the bank.
Well, on the other hand, Bank of America also faces different errors at a certain point of time. The major issue is being faced at the SafePass service. SafePass is needed for increasing limits for certain types of transfers ad uses a 6-digit one-time code for authorizing the funds transfer. Users of Verizon network have said that the SafePass is not working on their side. Also, they received a message from the bank stating that SafePass messages are not working because of problems with VerizonWireless. Others said that SafePass is not sending the code with a text. Users have been unable to make transactions as a result of this SafePass issue. Well, if you are facing the same, you can follow these steps to fix the problem by yourself –
- Check that you have entered your details correctly.
- Ensure that your account has not been blocked by the bank.
- Contact the bank customer care and see if there is some server issue going on.
- Quit SafePass and open it again and try to make the transaction again.
