Internet Banking Now Available for Hibernia's Small-Business Customers; Convenient Features Save Time for Busy Entrepreneurs

Business Wire, Dec 16, 1999

NEW ORLEANS--(BUSINESS WIRE)--Dec. 16, 1999--

Hibernia National Bank has launched its Internet-banking service for small businesses following the successful debut of its award-winning consumer version earlier this year.

The small-business version of Bank Online@Hibernia.com(TM) is similar to the one for personal-banking customers. Clients can check deposit and loan account balances, transfer funds, stop payments and reorder checks 24 hours a day. Now, small-business owners can access all their Hibernia business accounts, including a menu displaying available credit and balance information for line-of-credit accounts. The basic service is free.

"Small-business owners typically work long hours and can use the convenience of 24-hour banking when they're balancing the books at midnight," said Jennifer Weed, Hibernia's vice president and e-commerce manager. The service allows customers to set their own banking hours, manage their accounts from any desktop or portable computer with Internet access and pay bills without stamps or envelopes.

Because of its user-friendly features, the service recently was recognized as one of the world's best Internet-banking sites when software-maker Corillian Corp. won the 1999 Microsoft Industry Solution Award for "Best Internet Banking Application." Corillian worked with the bank in tailoring its financial-services application, Voyager eFinance Suite, to Hibernia customers' needs.

"About 2,000 small businesses currently access their Hibernia accounts over the Internet," Weed said. "Since we just launched the product, this is a sign our clients want this service."

Especially convenient, the electronic bill-payment feature helps the user avoid late-payment fees and provides a permanent record of transactions. The bill-pay service is free for three months and costs $4.95 per month for up to 20 payments. Additional payments are $.35 each.

"The bill-pay feature provides faster, more detailed records of payments," Weed continued. "The account history lists the bill's due date as well as the dates the check was created, processed and cleared the account."

To use this feature, clients write checks on their computer and schedule payment, even as much as a year in advance. Recurring bills, such as rent, insurance or loan payments, can be automatically paid each month. Once the payment is scheduled, Hibernia will either transfer funds electronically or print and mail a check to the payee.

And, Hibernia has a bill-pay guarantee. If an online bill payment is scheduled at least five business days before the due date, and a late fee or penalty occurs because the funds did not arrive on time, Hibernia will reimburse late fees up to $50.

To save more time for busy business owners, the system automatically links and "speaks" to, or interfaces with, Quicken2000 and Microsoft(R) Money 99, the latest versions of two popular bookkeeping-software applications. Account information is transferred directly to the software and automatically reconciled, reducing hours of data entry and erroneous key strokes.

For larger businesses with multiple account users, Hibernia offers TABBSNET. This system provides multiple-user passwords, same-day loan payments, wire-transfer initiation and more. TABBSNET is a browser-based application with dial-up access to business accounts and will soon be available through the Internet. There is a monthly fee for this service.

For more information on TABBSNET, contact Hibernia's Treasury Management Department toll-free at 1-888-822-2274.

Customers can sign up for Bank Online@Hibernia.com at Hibernia's Web site, www.hibernia.com, or they can call 1-877-HIBERNIA (1-877-442-3764). Those who are not customers can apply for an account online.

Hibernia is a $15.0-billion-asset organization with 249 banking locations in 33 Louisiana parishes and 13 Texas counties. It is either first, second or third in deposit share in 31 Louisiana parishes and six Texas counties. Hibernia's Louisiana markets represent approximately 80% of the state's population and 84% of its deposits. Its Louisiana deposit share is 22%. Hibernia has successfully completed upgrades to all mission-critical computer systems and is now ready for the Year 2000.

The company's common stock (HIB) is listed on the New York Stock Exchange. Hibernia news releases; product, service and Year 2000 readiness information; and other useful data can be accessed through the company's Internet site at www.hibernia.com. Requests for information about Hibernia products and services can be e-mailed to mailus@hibernia.com.