NationsBank unveils 'PC Banking' Transfer money via your computer, or pay your bills

Banking

March 01, 1996|By Bill Atkinson | Bill Atkinson,SUN STAFF

NationsBank Corp. unveiled yesterday a personal computer banking service that allows its customers to pay their bills, transfer money between funds and check stock quotes from their home computers.

The service, called NationsBank PC Banking, should be available to customers in the Baltimore and Washington area by fall, company officials said yesterday.

Fees for the service vary from region-to-region, and NationsBank did not have specific charges for the Baltimore/Washington area, but a spokesman said they will be similar to those in North Carolina and South Carolina.

Customers in those states receive free bill paying if they have a Deluxe checking account, which requires a balance of at least $3,500 in their savings account. They will also receive the service free if they have $10,000 in a money market account or single certificate of deposit, or have a NationsBank loan of $10,000 or more.

Customers who don't meet those standards pay $5.95 a month for the first 20 transactions, 50 cents for each one thereafter.

The software to run bill paying and other services is called Managing Your Money, and it's free to all NationsBank checking account holders if ordered through the Charlotte, N.C.-based banking company or picked up at one of its branches.

"This is the day we've been working toward for the past year," said Rick Parsons, president of direct banking for NationsBank, which is the country's third-largest bank with $187 billion in assets.

Managing Your Money is based on software designed by Stamford, Conn.-based MECA Software Inc., which NationsBank and Bank of America purchased in 1995.

Mr. Parsons declined to say how much the company invested in the project. He also declined to release numbers on how much it will cost NationsBank to service a customer who banks from home versus a customer who uses a teller.

He said NationsBank services 5 million households, and 35 percent of those customers have home computers. The company expects to enroll 100,000 PC Banking customers by the end of the year.

Chuck Hieronymi, senior vice president of customer access development for NationsBank, said about 65 percent of the company's customers in the Baltimore and Washington metropolitan area have home computers.

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