Compass Bank to Offer Online Business Banking Through Intuit's QuickBooks Software

Business Wire, Dec 17, 1996

BIRMINGHAM, Ala.--(BUSINESS WIRE)--Dec. 17, 1996--Compass Bank announced today that it will offer its business customers online banking and online bill payment services through QuickBooks 5.0, the latest version of Intuit's number one best-selling small business accounting software.

QuickBooks 5.0 is expected to be widely distributed through most software retail outlets by mid-January 1997 when CompassPC for Business Banking also will be available.

A First for Small Business Customers

CompassPC for Business Banking through QuickBooks 5.0 will provide customers with the first accounting software solution to include complete online banking and online bill payment capabilities.

Using QuickBooks, Compass business customers can check balances, transfer funds between Compass accounts and even pay vendors online. Just as CompassPC through Quicken and BankNOW are designed for personal finance customers, CompassPC for Business Banking through QuickBooks is tailored specifically to meet the financial needs of the small businessperson.

About QuickBooks

QuickBooks ease of use will bring complete and powerful accounting capabilities to small business owners. Users can quickly set up an entire business with QuickBooks, making it easy to create custom invoices, enter sales, record customer contacts, track time, perform job costing, manage inventory, handle payroll and even prepare for tax time.

By including online banking and online payment capabilities, QuickBooks 5.0 allows customers to manage their cash in a fast, easy and efficient way.

"Our small business customers want to be able to easily determine their account balances and transfer money between accounts," said Charles Bretz, Compass senior vice president for alternative delivery.

"CompassPC for Business Banking through QuickBooks 5.0 gives our customers this capability and allows them to do their banking and bill paying through the same software program they use to manage their books," Bretz stated.

Additional information about CompassPC for Business Banking through QuickBooks 5.0 can be obtained by calling 1-800-COMPASS.

Compass Bank is a subsidiary of Compass Bancshares, Inc., an $11.6 billion bank holding company with 208 bank offices in Alabama, Florida and Texas.

Intuit, QuickBooks and Quicken are registered trademarks and BankNOW is a trademark of Intuit Inc.

CONTACT: Compass Bancshares, Inc., Birmingham

Ellen Laden, 205/933-3554

Charles Bretz, 205/933-3962