Magazine article American Banker

PNC Program Allows Transfers with outside Accounts

Magazine article American Banker

PNC Program Allows Transfers with outside Accounts

Article excerpt

PNC Bank Corp. has begun offering an unusual remote banking program that provides Internet access and lets customers conduct business with the bank's competitors.

The program, based on a customized version of Managing Your Money software from Meca Software LLC, was introduced in December.

"We added a couple of key things (to Managing Your Money), said Martin E. Evancoe, vice president and manager of on-line banking for PNC. "We added a browser to it, which was our version of a customized Netscape browser, and we added external transfers, the ability to move money back and forth from PNC bank to other financial institutions."

Last summer, PNC began offering customers the ability to bank on-line through Intuit Inc.'s Quicken personal financial management software. At yearend, the bank added Managing Your Money to its product line.

Because of the browser embedded in PNC's Managing Your Money program and an arrangement the bank has made with MCI Communications Corp. for Internet access, PNC customers who sign up for the Meca software can have free access to the bank's Web site whether or not they already have Internet service, Mr. Evancoe said.

For $17.95 a month, customers can get unlimited Internet access through PNC, he said.

Moreover, customers can use the on-line banking program to transfer money among accounts with other institutions, like mutual fund companies and insurance providers.

"We're trying to position ourselves as the gateway," Mr. Evancoe said. "People can go to our Web site or others, like Fidelity's, and all of the time they see our logo spinning there. …

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