Cingular Wireless plans to offer a service through its handsets early next year that would allow customers to perform banking functions much like they do on their computers today. The phone banking functionality is being provided through a deal with Firethorn Holdings, and would be free, save for bandwidth usage.

The Wall Street Journal says that the effort is aimed at offsetting falling revenues from voice plans. The feature is common among European operators, however Cingular would be the first of the major U.S. carriers to banking functionality. There is a catch, however; the bank itself must allow the service. While the WSJ says the carrier is already negotiating with banking institutions, no deals have been finalized.