Bank of America Corp. has begun selling a passcode-generating card for online banking customers who would pay a $20 fee to improve their online security.
The Charlotte company announced the availability Monday of its SafePass card, which generates a one-time-use, six-digit code when a customer squeezes a corner of the card.
The code supplies an additional factor of authentication for online banking sessions.
Customers also can elect to get an optional passcode as a text message to their cell phones, a free service that B of A has offered since last year, if they do not want to use the card. The card is not combined with the customer's payment card and contains no information that could identify the customer or account.
The card "extends the additional layer of security to customers who prefer to receive it through a card instead of their mobile phone," Lance Drummond, B of A's e-commerce and ATM executive, said in a press release.
