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U.S. BANK SET TO OFFER HOME BANKING IN JANUARY; MICROSOFT'S MONEY 3.0 SOFTWARE PROVIDES PC ON-LINE ACCESS TO U.S. BANK ACCOUNT INFORMATION

 PORTLAND, Ore., Dec. 7 /PRNewswire/ -- High convenience banking takes on a new meaning beginning in January, when U.S. Bancorp (NASDAQ: USBC) and its U.S. Bank subsidiaries introduce the region's most advanced and convenient access to home banking via the personal computer. U.S. Bank customers in Oregon, Washington, Idaho, Nevada and Northern California will be able to use home banking to handle many routine banking transactions.
 U.S. Bancorp released details of its UBANK On-Line home banking access today, as Microsoft Corp. unveiled Microsoft Money 3.0, the only personal finance software product on the market that provides electronic banking from the personal computer, using a feature called Bank On-Line.
 Bank On-Line is being rolled out with three leading regional financial institutions: U.S. Bancorp, First National Bank of Chicago and Michigan National Bank. National Payment Clearinghouse, Inc. (NPCI) is facilitating Bank On-Line by providing network switch and processing services.
 Using UBANK On-Line, U.S. Bank customers will be able to access their checking, savings, money market, creditline and credit card accounts; check balance information; transfer funds between accounts; and download transaction information into their Microsoft Money software. Microsoft Money 3.0 includes an automatic account balancing feature as well as a variety of financial planning and investment tracking capabilities, on-line bill paying and stock quotes.
 "U.S. Bank is delighted to offer this extraordinary type of access to our customers," said Rick Comandich, senior vice president and manager of convenience banking for U.S. Bancorp. "Most people want to better control their finances but don't have the time to do it. With Microsoft Money's Bank On-Line feature, customers don't need to manually enter transaction data, as with other personal finance software. They can download data directly from their U.S. Bank accounts and use their time at the computer for information management, financial planning and investment tracking."
 Comandich noted that Bank On-Line and other features of Microsoft Money 3.0 make it suitable for owners of small businesses as well as individuals. "Research shows that 40 percent of homes and 56 percent of small businesses in the Pacific Northwest own personal computers. With user-friendly software such as Microsoft Money 3.0, we expect that a significant number of people will be interested in on-line banking," said Comandich.
 "The Bank On-Line feature helps people manage their core finances," said Comandich. "The Pay On-Line feature allows customers to pay most bills electronically, quickly and easily. And Quotes On-Line helps them manage an investment portfolio, whether real or projected."
 To utilize UBANK On-Line, customers will need a U.S. Bank account, an IBM-compatible computer with Microsoft Windows operating system, version 3.1, Microsoft Money 3.0, and a standard modem, 1200-baud or faster. Most customers will access UBANK On-Line through a local, toll-free telephone number.
 Cost for UBANK On-Line will be $7.95 a month for U.S. Bank customers, with package pricing for additional features such as bill paying and stock quotes. Customers will be able to sign up for UBANK On- Line, to include a free trial period, in early 1994. Microsoft expects the Microsoft Money 3.0 product to be available in late January. The software initially will retail for $34.95, suggested retail price.
 Comandich noted that the new Bank On-Line access through Microsoft Money is a major improvement over proprietary home banking products of the past because it saves consumers time. "U.S. Bank customers can access banking services with an off-the-shelf financial management software product," he said. "Through our partnership with Microsoft and NPCI, we have quickly developed and brought to market a high-quality means for customers to bank from home in a much more user-friendly way."
 U.S. Bancorp is the largest bank holding company headquartered in the Northwest, with assets of $21 billion as of Sept. 30, 1993. U.S. Bancorp is one of the nation's 35 largest bank holding companies, and has consistently ranked among the top tier of these companies in performance and capital strength. Banking subsidiaries include U.S. Bank of Oregon; U.S. Bank of Washington; U.S. Bank of California; U.S. Bank of Nevada; U.S. Bank of Idaho; and U.S. Bank (Canada). Other financial services businesses include U.S. Bancorp Mortgage Co. and U.S. Bancorp Securities and Trust Group.
 -0- 12/7/93
 /CONTACT: Hannah Graziano, Public Relations, of U.S. Bank, 503-275-5245, or Cindy Duryee, Public Relations, of U.S. Bank, 206-344-5311; or Mary Ruble, Public Relations, of U.S. Bancorp, 503-275-6200/
 (USBC)


CO: U.S. Bancorp; Microsoft Corp.; First National Bank of Chicago;
 Michigan National Bank ST: Oregon, Washington, Idaho, Nevada, California IN: FIN SU: PDT


RB -- SE007 -- 1305 12/07/93 13:01 EST
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Publication:PR Newswire
Date:Dec 7, 1993
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