AmSouth Bank's New Free Checking Account Includes Higher CD Rate for Customers 50 or Older.Business Editors BIRMINGHAM, Ala ALA aminolevulinic acid. Ala alanine. ala (a´lah) pl. a´lae [L.] a winglike process. .--(BUSINESS WIRE)--July 7, 2003 With interest rates at the lowest levels in decades, AmSouth Bank (NYSE NYSE See: New York Stock Exchange :ASO ASO arteriosclerosis obliterans. ASO 1 Administrative services organization, see there 2 Allele-specific–oligonucleotide hybridization 3 Anti-streptolysin O, see there ) has introduced a free checking account with a timely extra feature: a higher rate on certificates of deposit. The new account is the 50+ Absolutely Free Checking account, which offers customers 50 years or older no monthly fees, no minimum balance requirements other than the initial opening deposit, unlimited check writing, free AmSouth logo checks and a free AmSouth CheckCard. The account also offers customers a bonus 1/4 percent on most CDs, including the popular AmSouth Flexible CD, which allows the customer to choose the terms and rates. If rates rise, for instance, CD holders can upgrade to the higher rate once during the term of the CD. As the Federal Reserve has cut short-term interest rates Short-term interest rates Interest rates on loan contracts-or debt instruments such as Treasury bills, bank certificates of deposit or commerical paper-having maturities of less than one year. Often called money market rates. 13 times in the past 2 1/2 years, savers and those who depend on interest income have been hit particularly hard. AmSouth understands the needs of this age group and developed an account that not only offers free checking but also provides the opportunity for a higher interest rate on CDs. The new account also features free Telephone Bill Payment, free Internet Banking with Bill Pay and a 25 percent discount on safe deposit box A safe deposit box (sometimes incorrectly called a safety deposit box) is a type of safe usually located in groups inside a bank vault or in the back of a bank or post office. rentals. To qualify for 50+ Absolutely Free Checking, the primary account holder opening the account must be age 50 or better and present a minimum opening balance of $50. About AmSouth AmSouth Bancorporation AmSouth Bancorporation was a bank holding company headquartered in Birmingham, Alabama, operated as a subsidiary of Regions Financial Corporation. AmSouth was previously known as First National Bank of Birmingham first organized in 1872. is a regional bank holding company with $42 billion in assets, 600 branch banking offices and more than 1,200 ATMs. AmSouth operates in Tennessee, Alabama, Florida, Mississippi, Louisiana and Georgia. AmSouth is a leader among regional banks in the Southeast in several key business segments, including consumer and commercial banking, small business banking, mortgage lending, equipment leasing Equipment Leasing is a financing option to lease equipment for a certain amount of time. Leasing Benefits
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