A roll-out of PC banking by the largest independent mortgage lender. It's not even a bank, and IMO this won't move the stock. But it makes me think the BIG banks must be getting pretty close to similar announcements.
Countrywide Offers Electronic Banking
Turns Bill Time into Free Time
CALABASAS, Calif., April 28 /PRNewswire/ -- Countrywide Home Loans, the
nation's largest independent mortgage lender, announces a partnership with
CheckFree that will bring the convenience of automated debit service to
consumers. Debuting this month, the new Countrywide Electronic Banking
Service is designed to simplify monthly financial tasks by eliminating time-
consuming manual bill paying.
"Offering electronic banking is a natural extension of the services
Countrywide provides," said Tom Boone, managing director of Countrywide's loan
administration. "This use of technology not only helps simplify bill paying
but allows consumers to budget, track and categorize their monthly expenses.
For those consumers whose own bank or credit union does not offer electronic
banking, this is an especially welcome service enhancement."
To take advantage of this new service, consumers can request and install
free software on their Windows-compatible personal computer. Fixed payments,
such as mortgage or auto loans, need to be entered only once and will be paid
on a regular schedule pending further notice from the user. Payment data is
transmitted with a personal security code to CheckFree using a computer modem.
No special on-line service provider or Internet access is required, and, since
all information is entered off-line, the user's security is not compromised.
CheckFree then disburses funds from the user's checking account via electronic
transfer or check. These debits will then appear on the regular monthly bank
statement.
Countrywide Electronic Banking Service requires no special banking
relationship; virtually anyone with a checking account, a computer and bills
to pay can realize the benefits of this service. Countrywide is providing
consumers free service for 30 days, with a $9.95 per month charge thereafter,
deducted from the designated checking account.
For more information about enrolling in Countrywide Electronic Banking
Services and receiving CheckFree's free software, call 800-669-5891.
CheckFree is a wholly owned subsidiary of CheckFree Holdings Corporation,
Inc. Founded in 1981, CheckFree (http://www.checkfree.com) is the leading provider
of electronic commerce services, software and related products for 2.2 million
consumers, 1,000 businesses and 850 financial institutions. CheckFree
designs, develops and markets services that enable its customers to make
electronic payments and collections, automate paper-based recurring financial
transactions and conduct secure transactions on the Internet.
Founded in 1969, Countrywide Home Loans, Inc. originates, purchases, sells
and services loans for single-family homes. To meet the needs of all mortgage
customers, Countrywide offers a full range of mortgage products, including
fixed-rate and adjustable conventional, government and jumbo loans. Low down
payment programs with more flexible guidelines are also available. An Upfront
Rate Protection program allows buyers to lock an interest rate while they shop
for a home. The company is headquartered in Calabasas, California, and has
offices in more than 400 locations across the country.
SOURCE Countrywide Home Loans, Inc.
CONTACT: Mark Benhard or Jumana Bauwens, 800-796-8448, both of
Countrywide Home Loans, Inc. /Company News On-Call:
prnewswire.com or fax, 800-758-5804, ext. 102559
Company News On Call: prnewswire.com or fax,
800-758-5804, ext. 102559
Web Site: countrywide.com
prnewswire.com |
