Verizon Wireless today announced a new mobile banking service that allows customers of Wachovia, SunTrust, FirstBank, and BancorpSouth to get full access to their accounts using only their cell phones. Customers will be able to check balances, make payments and transfer money between accounts of the same bank. The service will be powered by Firethorn Holdings LLC a Qualcomm company that specializes in mobile banking and payments.

Verizon Wireless customers who own an LG Chocolate, EnV, VX8700, VX8600, VX 9400 or the Samsung SCH-a950 can download the application for free by clicking on Menu/Get It Now/ Get Going/Get New App/ Business/Tools* (data usage fees apply).  For security purposes once the application is installed you will need to register your phone with your financial institutions online banking service before you can begin using the service.

Read full press release after the jump here