Bank of America has signed up over seven million customers to its free online banking service.
Bank of America started the year with 4.7 million Web banking customers. The number of consumers using online bill payment services increased to three million during the year, compared to 1.8 million at the start of 2003.
Sanjay Gupta, e-Commerce executive at Bank of America, says there are several reasons for the rapid growth, aminly that customers are becoming more comfortable in handling finances online: "We expect that trend to continue, as customers find that they can do more of their banking online, 24 hours a day."