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NBD INTRODUCES FREE SMALL BUSINESS CHECKING ACCOUNT

 NBD INTRODUCES FREE SMALL BUSINESS CHECKING ACCOUNT
 DETROIT, April 15 /PRNewswire/ -- Today's small business owners are


actively involved with their businesses. They cannot afford to take time away from their business operations to handle complex checking accounts designed for larger businesses.
 NBD has created a simple business checking account structured like a personal account for small businesses with low checking activity, said James W. VanderMale, NBD director of Retail Products Group.
 "Through our new small business checking account, NBD is offering business customers free checking for maintaining a monthly average balance of $5,000 and staying within set activity levels," he said. "But if the $5,000 average balance cannot be maintained, customers are charged a monthly maintenance fee of only $10, which is still a reasonable price for a business checking account.
 "And if customers exceed the allowed activity levels, they can easily calculate the activity fee because the service charges are clear and predictable."
 With the NBD small business checking account, customers can waive activity fees if they do not exceed more than 50 debits (withdrawals or checks paid), 25 credits (deposit tickets or other credits) and 75 deposited items (checks) within one month. If customers exceed these numbers, then their account will be charged for each additional item. If customers use miscellaneous services such as a wire transfer or stop payment on a check, their account is charged on a straightforward, per-item basis. And the new small business checking account is protected up to $100,000 under the Federal Deposit Insurance Corporation.
 VanderMale also said that NBD will return canceled checks at no extra charge. Some financial institutions charge customers for this service.
 Small businesses that may benefit from this checking account are restaurants, a card or dress shop, a computer consultant or roofing company, professional groups such as lawyers or accountants and social clubs such as the local bowling league.
 This new checking account is just another way NBD caters to the needs of small businesses. For several years, NBD has helped finance small businesses through the NBD Small Business Development Office. The office can help small business owners develop business plans, determine the financial resources they need and provide access to alternative federal or state funding sources.
 NBD Bank is the 19th largest bank in the country with 339 branches in Michigan and offices in London, Frankfurt, Tokyo, Hong Kong, Toronto and Windsor, and an Australian affiliate with offices in Adelaide, Melbourne and Sydney. It is the lead bank of NBD Bancorp (NYSE: NBD), the nation's 24th largest bank holding company. Headquartered in Detroit, NBD Bancorp also operates banks in key Illinois, Indiana, Ohio and Florida markets.
 -0- 4/15/92
 /CONTACT: M. Renee Ahee of NBD Bank, 313-225-2596/
 (NBD) CO: NBD Bank; NBD Bancorp ST: Michigan IN: FIN SU: PDT


ML -- DE008 -- 8545 04/15/92 09:39 EDT
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Copyright 1992 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Apr 15, 1992
Words:475
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