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WACHOVIA TO INTRODUCE DEBIT CARD IN AUGUST

 ATLANTA, July 22 /PRNewswire/ -- Wachovia customers in Georgia and North Carolina will be able to use their new automated teller machine card as a debit card in August, when the bank introduces the Wachovia Banking Card with Visa Check.
 Wachovia will be the first bank nationwide to have Visa Check appear on its ATM cards. Visa check card is the new term for the product previously called Visa Debit.
 The Visa Check feature allows checking account customers to make purchases with their ATM card at merchants displaying the Visa logo. Authorized transactions are deducted automatically from the available balance in the customer's checking account.
 "We think Visa Check will be a popular service for many transactions that consumers now handle with cash or a check," said W. Doug King, manager of Retail Banking Support Services for Wachovia Corporation (NYSE: WB). "Visa Check eliminates the need to carry large amounts of cash, the inconvenience of writing checks and providing identification, and the delay involved when cashiers must obtain approval for personal checks."
 In addition to supermarkets, gas stations and retail outlets, Visa Check can be used at places that often do not accept personal checks, such as restaurants and out-of-town merchants. Visa check cards are accepted at more than 10 million locations worldwide.
 In a typical Visa check card transaction a customer presents a Wachovia Banking Card bearing the Visa logo at the cash register. The cashier passes the card through an authorization terminal, through which the bank tells the merchant whether the customer's transaction has been approved. The customer then signs the sales draft. The process takes about 20 seconds. More than 27 million debit card transactions are conducted in the United States each month, according to Visa U.S.A.
 The Wachovia Banking Card with Visa Check will be free the first six months. After that a $1 monthly fee, allowing unlimited use of the card for purchases, will be charged.
 Wachovia Corporation is the parent company of Wachovia Bank of North Carolina; Wachovia Bank of Georgia and South Carolina National Bank, a leading debit card issuer.
 -0- 7/22/93
 /CONTACT: National media: Nancy P. Lovelace, 919-770-5696; North Carolina media: Ken Brown, 919-770-6692; or Georgia media: Don Guthrie, 404-332-4237/
 (WB)


CO: Wachovia Corporation ST: Georgia, North Carolina IN: FIN SU: PDT

RA-TG -- AT018 -- 4728 07/22/93 16:07 EDT
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Publication:PR Newswire
Date:Jul 22, 1993
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