Citibank Launches Citibank Bill Manager, A Complete Online Bill Management Service; Bill Payment and Presentment Services Provided Through Paytrust

Business Wire, Oct 12, 2000

Business Editors/High Tech Writers

NEW YORK & LAWRENCEVILLE, N.J.--(BUSINESS WIRE)--Oct. 12, 2000

Citibank, the largest issuer of credit cards, today announced the launch of the Citibank(R) Bill Manager, an online bill management service for Citibank credit card customers that is powered by Paytrust(R), a leading Internet service that allows consumers to receive, review, pay and organize bills online.

The Citibank Bill Manager is an addition to the existing suite of financial offerings provided to credit card customers through Account Online which gives Citibank cardmembers secure, immediate access to their MasterCard or Visa credit card account information, 24 hours a day, 7 days a week. Citibank Bill Manager is now available at www.accountonline.com.

The Citibank Bill Manager brings the 3 million Account Online customers the e-convenience of managing their credit card accounts and all their other monthly bills online through Account Online. With this service, Citibank continues its tradition of applying technology to financial services to improve the banking experience for their customers.

"With the launch of the Citibank Bill Manager, we are offering an important new payments service for our customers," said Steve Freiberg, President and CEO of Citi Cards in North America. "Now customers who enjoy the convenience of receiving and paying their Citibank cards statement online can receive and pay all their bills online backed by the convenience and security of Account Online. The Citibank Bill Manager allows our customers to leverage the convenience of the Internet to significantly reduce the time it takes to pay bills. We are very pleased to be working with Paytrust to provide this exceptional service to our customers."

The introduction of the Citibank Bill Manager is the latest in a series of recent announcements which demonstrates Citigroup's commitment to providing a comprehensive suite of online consumer financial products and services, accessible anywhere, on any device, at any time, in a secure and private manner.

Through this new service, Citibank Bill Manager customers receive notifications of incoming bills through email reminders, review bill information from anywhere via the Internet, schedule payments from any of their check writing accounts, and access their bill history online with the Citibank Bill Manager. Additional conveniences include a data download feature that allows information sharing with personal financial management software and subscriber-defined payment rules that can automatically pay selected bills. As an added incentive to try the service, consumers who visit the Account Online site can enroll for a three-month trial period. Following the trial, subscribers pay a monthly fee of $8.95.

"Citibank has historically been the leader in offering new financial services to its tremendous customer base, and we're proud to be working with such a leader and innovator in the banking industry," said Edward G. McLaughlin, CEO for Paytrust. "This is an important strategic step for Paytrust as well as a notable move in the banking industry. Citibank clearly understands the compelling nature of the Paytrust service, and the value this partnership can bring to its customers."

The electronic bill presentment and payment market continues to grow and Citibank Bill Manager is meeting what the industry demands. The industry is predicted to grow to over 40 million households viewing and paying their bills online by 2005. "Consumers are migrating to online bill payment and presentment and we've been there to serve them with the latest advances in technology," noted Antony Jenkins, Chief Operating Officer for Citigroup's Internet Payment Services. "It has always been important to us to provide our customers a straightforward and secure way to pay their Citibank bills. Citibank Bill Manager takes this promise one step further by providing an easy, convenient and secure way for our cardmembers to pay all their bills."

Citibank cardmembers can register for Citibank Bill Manager at www.accountonline.com.

About Citibank

Citibank is a member of Citigroup (NYSE:C), the premier global financial services company providing some 100 million consumers, corporations, governments and institutions in 100 countries with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, insurance, securities brokerage and asset management. The 1998 merger of Citicorp and Travelers Group brought together such brand names as Citibank, Travelers, Salomon Smith Barney, CitiFinancial, and Primerica under Citigroup's trademark red umbrella. Additional information may be found at: www.citigroup.com.

About Paytrust

Using proprietary technology, Paytrust delivers 100 percent of a subscriber's bills online or to a wireless device for complete bill delivery and management, far surpassing traditional bill pay-only services. Paytrust subscribers receive bill notifications and reminders via email rather than physical mail, and they can review their bill information from anywhere they have access to the Internet. Through Paytrust, customers can issue payments directly from any check writing account, view automatic checkbook balancing and download and analyze data in their personal financial management software.