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PNC FINANCIAL CORP TO JOIN VISA ACH PROCESSING NETWORK

 PNC FINANCIAL CORP TO JOIN VISA ACH PROCESSING NETWORK
 PITTSBURGH, April 13 /PRNewswire/ -- PNC Financial Corp


(NYSE: PNC), one of the largest processors of Automated Clearinghouse (ACH) transactions, today announced that it has signed a letter of intent to use the VisaNet ACH, a private-sector alternative to the ACH operated by the Federal Reserve System.
 "PNC has long been an innovator in ACH processing," said Robert Edwards, senior vice president and manager, PNC Corporate Services. "With VisaNet, we can offer our business customers more timely processing and flexibility in scheduling, as well as greater efficiency and security in handling ACH transactions."
 Edwards noted that PNC will continue to use the Federal Reserve ACH, which transfers funds throughout the banking system. "With PNC's data processing flexibility, we can use the most appropriate ACH system to process transactions, including direct deposits of payroll, pensions and dividends; pre-authorized debit programs, such as PNC's ZipCheck; and corporate trade payments."
 Visa has operated an all-electronic ACH for financial institutions in the western United States since 1987. Since establishing a national settlement capability in 1991, Visa has been working to expand participation in the system on a nationwide basis. The VisaNet ACH serves more than 200 financial institutions and currently processes 13 million transactions monthly.
 PNC Financial Corp, headquartered in Pittsburgh, is the nation's 15th-largest bank holding company, with assets of $44.9 billion. It operates approximately 500 community banking offices in Pennsylvania, Kentucky, Ohio, Indiana and Delaware and conducts business through additional offices in 16 states.
 PNC's principal banking affiliates include: Pittsburgh National Bank, Pittsburgh; Provident National Bank, Philadelphia; Citizens Fidelity Bank, Louisville, KY; Central Trust, Cincinnati; Bank of Delaware, Wilmington, DE; Northeastern Bank, Scranton, PA; Marine Bank, Erie, PA; PNC National Bank, Wilmington, DE; Hershey Bank, Hershey, PA; and The First Bank and Trust Company, Mechanicsburg, PA.
 -0- 4/13/92
 /CONTACT: Jonathan Williams of PNC Financial, 412-762-4550(o) or 412-359-0979 or Nancy Johnson of Padilla Speer Beardsley, 612-871-8877, for PNC Financial/
 (PNC) CO: PNC Financial Corp ST: Pittsburgh IN: FIN SU: JVN


AL -- MN007 -- 7692 04/13/92 11:12 EDT
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Publication:PR Newswire
Date:Apr 13, 1992
Words:348
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