BankAmerica Corp. has renewed a multi-million-dollar contract with MCI Telecommunications Corp. that extends the companies' relationship through 1999.
The Washington-based company has been the primary long-distance carrier for the $242.9 billion-asset bank's principal subsidiary since 1993. Exact financial terms of the contract were not disclosed.
MCI also holds long-distance contracts with Citicorp of New York and First Union Corp. of Charlotte, N.C., said an MCI spokesman.
Under the contract, MCI operates a communications network, dubbed MCI Vnet, that links employees in all of Bank of America's 2,000 branches via four-digit extensions rather than through conventional seven-digit numbers plus area codes.
MCI also provides the toll-free links to Bank of America's human resources area, and to its call centers, home banking, and consumer lending operations.
The bank's operations in 13 foreign countries will be serviced with private voice and data communications lines, said the MCI spokesman.