To: David H. Zimmer who wrote (8131 ) 7/19/1999 7:30:00 AM From: AugustWest Respond to of 20297
Commerce Bank begins Net access to its accounts Arrival Time: 13:08 - 07/16 1999 Source: The Kansas City Star Commerce Bank has rolled out an Internet banking product. The Kansas City bank's new product allows its customers free access to their bank accounts. They can transfer money between accounts, verify balances and view recent transactions. In addition, customers can pay their bills through the new system. Bill payment costs $6.95 a month for up to 20 payments, although the first two months are free. "Internet banking really makes access to your bank accounts very, very easy," said James Rucker, Commerce's executive vice president in charge of retail administration. "You can learn what's going on with your accounts 24 hours a day, seven days a week." The new system does not replace Commerce's 3-year-old online banking products that use Intuit's Quicken and [Microsoft] Money software programs. Besides letting home computer users gain access to their accounts and pay bills, those programs let customers do financial planning, as well as chart their spending patterns, budgets and the like. The new Internet banking product is good for customers who don't want an elaborate system. Rucker says it is particularly handy for people who travel, because it lets them get into their bank accounts wherever they can use the Internet. They don't need any particular computer program. The system uses encryption technology that makes the system as secure as possible, Rucker said. Customers are given unique personal identification numbers. Customers can learn more about the new system or enroll in it by going to the bank's Web site at www.commercebank.com. Banks have been rolling out Internet services recently, and others plan to do so. [UMB Financial Corp.], also of Kansas City, updated its lineup last month and began offering three online banking products. But some frustrated customers reported that not all the systems worked well, and some complained that they could not get harried UMB technicians to answer their calls. UMB quickly hired 13 technicians to augment the seven it started with. It also waived fees for July and sent out clearer instructions. A spokesman Wednesday said most of the wrinkles had been ironed out. To reach Charles R.T. Crumpley, call (816) 234-4454 or send e-mail to ccrumpley@kcstar.com (Copyright 1999)