bofa Archives • Page 54 of 58 • CardFlash®

Talking ATMs

5, Country, Priority, UNITED STATESBy Robert McKinley 05/23/2001

Citibank has installed New York’s first talking ATMs, launching a sixteen-month plan to install a talking ATM at each of Citibank’s Financial Centers and its ATM centers across the country. Citibank joins Bank One, BofA, Wells Fargo and Mellon in the migration to talking ATMs. Citibank said yesterday it has also installed five talking ATMs in California. The ATMs, using text-to-speech technology, deliver audible information privately through an earphone so that persons who are blind, or who may otherwise have difficulty reading an ATM screen in print, can independently use the ATM. Last month, Bank One installed its first talking ATMs in Illinois and Ohio. Bank One installed 30 of the newly developed ATMs in the Chicago and Columbus areas. By the end of the year the bank plans to install 100 additional talking ATMs in these and other markets. Mellon Bank announced in February the installation of eleven talking ATMS in Pittsburgh, Philadelphia, and Harrisburg. Last summer, Bank of America installed its first fifteen talking ATMs in California. BofA announced that over the next three years, more than 2,500 talking ATMs will be installed in California and Florida. In April 2000, Wells Fargo installed twenty talking ATMs in the San Francisco Bay Area, Los Angeles and San Diego. Wells Fargo is currently upgrading 1,500 ATMs in California. (CF Library 4/20/00; 6/6/00; 2/22/01; 3/30/01; 4/26/01)

Foreign Currency

5, Country, Priority, UNITED STATESBy Robert McKinley 05/18/2001

Bank of America introduced of a new service that enables consumers to order foreign currency and foreign currency ‘Travelers Cheques’ over the Web using credit cards as payment. The service is similar to one introduced in Oct 1999 by Chase called ‘Currency-to-Go’. Customers for the BofA service can purchase up to US$5,000 in foreign currency or foreign currency Travelers Cheques. Orders of up to US$1,000 can be delivered via UPS to the customer’s home or business within two to three business days. Orders of more than US$1,000 must be picked up at any Bank of America full service location. BofA customers may also deposit foreign currency into their checking or savings accounts when they have currency they want to sell back or exchange for U.S. cash. Chase Manhattan offers 75 different foreign currencies and ‘Travelers Cheques’ online with no fees or commissions for next-day delivery. FedEx overnight home delivery is free for orders of $500 or more, with a $10 shipping charge for orders below that amount. (CF Library 10/7/99)

1Q/01 Performance

5, Country, Priority, UNITED STATESBy Robert McKinley 05/11/2001

Only two of the top eleven bank credit card issuers have experienced an uptick in both delinquency and chargeoffs during the first quarter compared to the first quarter of 1999. Three issuers reported declines in both delinquency and chargeoffs compared to 1Q/99 data. Citigroup and Providian reported increases in both delinquency and chargeoffs while MBNA, Discover and Fleet reported decreases in both delinquency and chargeoffs. As an average, chargeoffs have declined from 5.99% to 5.42% among the top issuers over the past 24 months. While delinquency and chargeoff figures have been rising for the past four quarters they remain well below historical industry highs.

TOP U.S. ISSUERS
DELINQUENCY CHARGE-OFFS
ISSUER 1Q/01 1Q/99 1Q/01 1Q/99
Citigroup* 2.00% 1.46% 4.84% 4.72%
MBNA** 4.60% 4.65% 4.35% 4.36%
Banc One 4.33% 4.51% 5.81% 4.89%
Discover** 6.34% 7.08% 4.79% 6.28%
Chase* 1.99% 1.95% 5.05% 6.11%
BofA NA NA 4.37% 6.01%
Cap One** 4.72% 4.56% 3.75% 3.93%
Fleet 4.75% 5.12% 5.55% 7.36%
Providian** 7.64% 4.91% 9.34% 7.62%
Wells Fargo NA 2.13% 5.54% 6.99%
Household 3.68% 3.61% 6.27% 7.59%
AVG NM NM 5.42% 5.99%

*90 day delinquency ** includes other consumer receivables
Source: Standard & Poor’s; CardData (www.carddata.com)

BofA Internet Exec

5, Country, Priority, UNITED STATESBy Robert McKinley 04/30/2001

Bank of America announced that John Rosenfeld, a former global e-business leader with General Electric, will join the bank as Consumer e-Commerce executive. In this position, he will be responsible for executing the company’s growth strategy for meeting consumer financial needs through digital delivery channels www.bankofamerica.com.

His immediate priorities will center on continuing to expand the electronic reach of the bank, building out customer self-service applications and adding new online services that will help broaden and deepen customer relationships. Bank of America is the nation’s leading provider of online financial services, with more than 3.2 million online banking customers.

Rosenfeld joins the company from General Electric Aircraft Engines, where he was responsible for building an e-commerce infrastructure that today does more than $1 billion worth of aircraft business through the Internet. This included launching a customer Web center and establishing direct procurement links between GE and key customers.

“John is joining Bank of America at a time when digital technology is expanding our opportunities to enhance the customer experience with greater speed, convenience and self-service capabilities,” said Amy Brinkley, Consumer Products executive. “He’s going to help us leverage the tremendous strengths of our franchise to bring customers the choices they want and need through the Internet.”

James D. Dixon, bankofamerica.com executive, said that Rosenfeld would bring a new perspective that will help Bank of America as it aggressively develops its e-commerce capabilities. “John’s experience at GE and other companies shows that he understands that the Internet is more than just another delivery channel – it’s a way to offer customers more value, more access and better choices,” Dixon said. “We are eager to get him on board.”

In addition to his experience at GE, Rosenfeld’s career includes leadership of e-commerce and Internet operations at Lexmark International and seven years as a Special Forces captain in the United States Army. He will locate to Charlotte, N.C., and begins his Bank of America assignment April 30.

About Bank of America

One of the world’s leading financial services companies, Bank of America is committed to making banking work for customers like it never has before. Through innovative technologies and the ingenuity of its people, Bank of America provides individuals, small businesses and commercial, corporate and institutional clients across the United States and around the world new and better ways to manage their financial lives. The company enables customers to do their banking and investing whenever, wherever and however they choose through the nation’s largest financial services network, including approximately 4,400 domestic offices and 13,000 ATMs, as well as 38 international offices, a telephone banking network that handles over a half billion calls a year and an Internet Web site that provides online access for over 3 million customers, more than any other bank. Bank of America stock (ticker: BAC) is listed on the New York, Pacific and London stock exchanges.

BofA 1Q/01

5, Country, Priority, UNITED STATESBy Robert McKinley 04/23/2001

Thanks to higher credit card outstandings Bank of America’s chargeoffs fell during the first quarter compared to one year ago. BofA reported $23.2 billion in first quarter outstandings compared to $22.8 billion for 4Q/00 and $19.1 billion for 1Q/00. Chargeoffs fell from 5.43% for 1Q/00 to 4.37% for first quarter 2001. Fourth quarter chargeoffs were 4.31%. Card fee revenue rose 18%, reflecting increased purchase volume as well as the continued sharp rise in debit card usage. BofA also reported a $140 million gain from the sale of an interest in the Star ATM network. The yield on BofA’s card portfolio slipped a bit from 12.43% for 4Q/00 to 12.41% for the first quarter. For complete details on BofA’s 1Q/01 results visit CardData ([www.carddata.com][1]).

[1]: http://www.carddata.com/

BofA Card Head

5, Country, Priority, UNITED STATESBy Robert McKinley 04/20/2001

Bank of America announced yesterday that Bond Isaacson will take over as Payments executive for its Card Services division. Isaacson began working for VISA in March 1999 as EVP of Member and Merchant Sales and as president of e-VISA. At VISA he was responsible for all e-commerce business and strategy. At BofA, Isaacson will be responsible for all electronic payments solutions and will take charge of strategic development, executing tactical design and implementing initiatives that will promote new forms of electronic payments. Bank of America is the number one issuer of debit cards, the number one deployer of ATMs and the seventh largest bank issuer of credit cards, based on outstandings, in the U.S. It also has more than 3 million online customers. Prior to joining VISA, Isaacson worked for 19 years at IBM. As an IBM financial services marketing executive, Isaacson previously directed IBM’s sales and IT-implementation efforts for the retail and global-finance business units of Bank of America. He also worked with the bank-holding company (formerly NationsBanc) to negotiate the formation of the Integrion Financial Network.

Top 10 Accounts

5, Country, Priority, UNITED STATESBy Robert McKinley 02/26/2001

The nation’s leading bank credit card issuer also leads all major players with the highest charge volume per active account. According to CardData, First USA/Bank One has the highest average balance per active account. Sub-prime leaders, Capital One, Providian and Household posted the lowest average balances and charge volume.

TOP 10 ANALYSIS
(as of 12/31/00)

RANK/ISSUER Avg Bal Avg YTD Vol
1. Citigroup $3322 $7121
2. MBNA $2488 $3724
3. First USA $3365 $6851
4. Discover $1979 $3786
5. Chase $2742 $4606
6. Providian $2342 $2307
7. BofA $2761 $6193
8. Cap One $1268 $2094
9. Household $1689 $3667
10. Fleet $2774 $3604

Avg Bal – per active account; Avg YTD vol – per active account
Source: CardData (www.carddata.com)

BofA on LendingTree

5, Country, Priority, UNITED STATESBy Robert McKinley 02/14/2001

LendingTree, Inc., the leading online loan marketplace and loan exchange technology provider, today announced that Bank of America will soon be offering credit cards to qualified consumers at [http://www.LendingTree.com][1]. This agreement increases the scope of the relationship that LendingTree has with Bank of America. Bank of America also uses LendingTree’s loan exchange technology, Lend-X, to power its online mortgage lending channels.

![][2]

LendingTree currently enables consumers to obtain multiple loan products by visiting the site, filling out one simple loan request form, and comparing multiple loan offers they receive within one business day. To date, more than 80,000 consumers have received credit cards through LendingTree.com.

Bank of America

One of the world’s leading financial services companies, Bank of America is committed to making banking work for customers like it never has before. Through innovative technologies and the ingenuity of our people, Bank of America provides individuals, small businesses and commercial, corporate and institutional clients across the United States and around the world new and better ways to manage their financial lives. The company enables customers to do their banking and investing whenever, wherever and however they choose through the nation’s largest financial services network, including more than 4,400 domestic offices, 13,000 ATMs, 38 international offices, a telephone banking network that handles more than a half billion calls a year and an Internet Web site that provides online access for more than 3 million customers, more than any other bank.

Bank of America stock (ticker: BAC) is listed on the New York, Pacific and London stock exchanges. The company’s Web site is [http://www.bankofamerica.com][3]. News, speeches and other corporate information may be found at .

About LendingTree, Inc.

LendingTree (Nasdaq: TREE) is the leading online loan marketplace and loan exchange technology provider. LendingTree’s unique loan technology, Lend-X, powers the online loan marketplace at LendingTree.com, as well as the online lending resources of other institutions. At LendingTree.com qualified consumers may receive multiple loan offers, within one business day, in response to a single loan request for home mortgages, home equity loans, personal loans, automobile loans, and credit cards. The site also provides access to small business loans. More than 100 banks and lenders compete for consumers’ business in the LendingTree loan marketplace at [http://www.lendingtree.com][4], providing consumers with an unprecedented level of control over the lending process, by enabling them to compare and review multiple loan offers and accept the loan offer that is best for them. The banks and lenders in the LendingTree marketplace generate new business that meets their specific underwriting criteria at reduced acquisition costs. For more information, or for a full listing of the more than 100 banks and lenders in the LendingTree marketplace please go to [http://www.lendingtree.com][5].

About Lend-X(SM)

Lend-X(SM) is LendingTree’s online loan exchange technology that enables companies to quickly and easily embed a customized private label or co-branded loan marketplace into their site. Lend-X(SM) technology has the flexibility to support a variety of different business models. Lend-X provides a fast, adaptable and reliable online lending solution for lenders and non-lenders alike with valuable access to LendingTree’s online lending exchange with more than 100 banks and lenders. In conjunction with LendingTree’s services, Lend-X can be used to provide access to loans for customers of lenders and non-lenders alike. Lend-X(SM) clients include: Bank of America, Freddie Mac, S1 Corporation, priceline.com, Sallie Mae, CNBC.com, Home Account, MSN Money Central, Autobytel.com, Wachovia, EDS’ Wendover, Fleet Bank, Citizens Bank, and Affinity Plus Federal Credit Union.

[1]: http://www.lendingtree.com/
[2]: /graphic/lendingtree/lendingtree.gif
[3]: http://www.bankofamerica.com/
[4]: http://www.lendingtree.com/
[5]: http://www.lendingtree.com/

BofA Biz Check Card

5, Country, Priority, UNITED STATESBy Robert McKinley 02/12/2001

Bank of America, the largest debit card issuer in the United States, today announced that it will begin offering its Business Check Card in California. The card is tailored to small and medium-size businesses, giving these customers the ability to make business purchases anywhere the Visa symbol is displayed and wherever merchants accept ATM cards for payment.

Purchases are deducted directly from the customer’s business checking account with no monthly fees or interest charges. With its additional use as an ATM card for business customers, the Business Check Card helps growing and established businesses track and manage expenses without using a credit card or checks.

“We have issued more than 400,000 Business Check Cards across the franchise and its popularity has far exceeded our expectations,” said Len Ferman, product manager. “Businesses really appreciate the product’s benefits of convenience and superior money management for making payments, as compared to other payment methods often used by small businesses such as checks and cash.”

Business Check Card customers are also protected by the bank’s zero liability policy. Under this policy, customers are not responsible for unauthorized transactions, as long as the customer notifies the bank promptly and follows the bank’s instructions.

Monthly transaction activity is detailed for business customers on their regular checking account statements and can also be accessed through the Online Business Banking Web site. For more information, visit [http://www.businesscheckcard.com][1]

To order a Bank of America Business Check Card:

* Go to [http://www.businesscheckcard.com][2] * Call toll-free at 1.888.600.4000 * Visit a Bank of America Banking Center

To open a Bank of America Business Checking account:

* Call toll-free at 1.888.600.4000 * Visit a Bank of America Banking Center

Bank of America is a financial services company committed to making banking work for customers like it never has before. Through innovative technologies and financial ingenuity, Bank of America provides individuals, small businesses and commercial, corporate and institutional clients across the United States and around the world new and better ways to manage their financial lives.

The company enables customers to do their banking and investing whenever, wherever and however they choose through the nation’s largest financial services network, including more than 4,400 domestic offices, 13,000 ATMs, 38 international offices, a telephone banking network that handles more than a half billion calls a year and an Internet Web site that provides online access for more than 3 million customers, more than any other bank.

[1]: http://www.businesscheckcard.com/
[2]: http://www.businesscheckcard.com/
[3]: http://www.bankofamerica.com/

BofA Comm Card

5, Country, Priority, UNITED STATESBy Robert McKinley 10/12/2000

Bank of America lifted the curtain Wednesday on the ‘Bank of America VISA Commercial Card’, the first card designed specifically for mid-size companies. The new card allows companies to streamline payment processes and reduce costs by combining multiple card functions into one program that integrates Internet reporting, automated card maintenance, multiple spending control options, security and expandability. The Internet reporting system allows companies to review employee expenditures and provides the means to manage the information via a basic output file that easily can be converted to merge into an existing accounting system. Cardholders can also have Web-based access to view their ‘Commercial Card’ accounts and, if authorized, to reallocate transactions. Cardholders can use the ‘Plan A Trip’ feature to shop for the best airfare, hotel and car rental rates, create their own itinerary and directly book their travel to the ‘Bank of America Commercial Card’ account. To view BofA’s new commercial card visit CardWatch ([www.cardwatch.com][1]).

[1]: http://www.cardwatch.com/

Web ATMs

5, Country, Priority, UNITED STATESBy Robert McKinley 09/14/2000

Bank of America confirmed this morning it is moving forward with plans to deploy Web-enabled ATMs. The new technology will enable customers to view copies of cancelled checks, buy or trade stocks, or receive messages from the bank at the ATM. BofA says it will install 22 of the special ATMs by year end. The first group of the Web-enabled ATMs will be placed in 12 locations in Charlotte, NC and 10 locations in Atlanta. Following the pilot, the bank expects a wider rollout of Web-enabled ATMs in 2001. The Web-enabled ATMs are part of the bank’s recently announced banking center strategy, which will involve a major overhaul of the company’s 4,500 banking centers. The new Web ATMs can be reprogrammed from a centralized delivery point as functions are added or deleted, cutting down the time and effort needed to change ATM screens nationwide. Web technology also enables BofA to offer full-motion color video with sound during transaction sequences, high-quality color photos and touch-screen capabilities.

BofA Pix Cards

5, Country, Priority, UNITED STATESBy Robert McKinley 09/12/2000

Bank of America is bringing picture-perfect security to customers in Florida with its introduction of the Photo Security Check Card and Photo Security Credit Card. Bank of America, the largest Check Card issuer, is the first bank in this state to offer the check card product.

Each Photo Security Card features a customer’s photograph and signature. Both the Check Card and Credit Card offer a new level of protection against card fraud and theft. Merchants who accept the card for payment can easily verify a customer’s identification by just looking at the card. Customers are additionally protected by the Bank of America coverage of any liability incurred for properly reported unauthorized transactions and 24-hour monitoring of suspicious account activity.

The Photo Security(R) Cards are available free of charge to new and existing Bank of America checking account customers and credit card customers. Customers can sign up to receive the cards at Florida banking centers, where customers’ photographs are taken onsite.

“Bank of America is committed to protecting our customer’s financial relationship. With the introduction of Photo Security cards, we will reduce fraudulent use of our customer’s Check Cards and set the standard for consumer protection among financial institutions,” said Katherine Lacoste, senior vice president for Consumer Card Sales at the Charlotte-based bank.

The Photo Security Check Card can be used for ATM transactions as well as for purchases anywhere the Visa(R) symbol is displayed. The Check Card offers the convenience and ease of a credit card, but purchases are deducted directly from the customer’s checking account with no monthly fee or interest charges.

Bank of America was the first bank to offer complete liability protection for its Check Cards and ATM cards. Before its leading industry move in 1997 to waive liability, customers could be held responsible for unauthorized transactions.

Bank of America is the largest check card issuer with more than 22 million cards issued. Additionally, Bank of America has more than 13,000 ATMs nationwide. Bank of America is also the third largest bank credit card issuer, as measured by purchase volume.

Bank of America (NYSE: BAC), with $680 billion in assets, is the largest bank in the United States. It has full-service operations in 21 states and the District of Columbia and provides financial products and services to 30 million households and two million businesses, as well as international corporate financial services for business transactions in 190 countries. The company’s stock (ticker: BAC) is listed on the New York, Pacific and London stock exchanges, and certain shares are listed on the Tokyo Stock Exchange.

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