On-Line Banking: U.S. Bancorp Launches Home Banking Product

First Bank System Inc., a subsidiary of U.S. Bancorp, has introduced ChextraBanking Online, a home banking product.

ChextraBanking Online uses Meca's Managing Your Money product to let customers access account information, transfer funds between accounts, pay up to 15 bills a month, and schedule bill payments through their PCs. The software and setup are free for the first 30 days, after which there is a $5.95 monthly fee.

It includes an E-mail feature that lets customers send comments or questions to First Bank representatives at any time.

It also lets customers create and manage budgets, track investments, and do tax and retirement planning.

Bill Veeneman, manager of on-line services at U.S. Bancorp, said its customers were ready for an on-line service. "Our vision is to provide anytime, anywhere access for our customers, and the market is growing to require an on-line product."

The software is a customized product that operates by direct dial through the PC.

"We believe Managing Your Money gives us the opportunity to brand the product and maintain our presence. But we want to encourage Meca to evolve the product," said Mr. Veeneman. "I think the next generation will interface with the web site."

ChextraBanking Online is available to bank customers through branches, a toll-free number and an application form at the bank's Web site.

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