First Citizens Bank to Launch eBanking August 30

New Internet banking service to provide highest level of security for convenient on-line banking

August 24, 1999

RALEIGH, N.C. — First Citizens Bank will launch eBanking Monday, Aug. 30, offering customers easy access to one of the most secure Internet banking services available.

"First Citizens' eBanking offers customers exactly what they want — Internet banking that features one of the safest and most secure systems on the market," Vice Chairman James B. Hyler Jr. said. "This state-of-the-art technology is an exciting complement to the convenience of Telephone Banking, ATMs and the one-on-one customer service we provide at our traditional and in-store branches. The time is right for eBanking at First Citizens Bank."

One of eBanking's unique safety features is the use of a secure customer ID number and password: Account information is only accessible when customers enter their ATM card number and an eight-digit password they select. eBanking does not use customers' social security numbers as passwords.

Special software is not needed to use eBanking; it works with a current Internet connection and a standard web browser. All eBanking transactions will be conducted in "real time," meaning there is no wait for information to be processed or downloaded.

The basic eBanking service is free. eBanking gives customers access to their First Citizens accounts through the Internet and allows them to perform transactions such as checking balances, making account transfers, placing stop payments and ordering checks. Customers can export data to personal-finance software or other spreadsheet applications. Customers also can use a transfer function to make payments directly to First Citizens credit products.

For a small monthly fee, customers may sign up for eBanking's Bill Pay option, which lets them pay one-time or recurring bills on-line to anyone, directly from their checking accounts via the Internet.

Bill Pay gives customers the ability to regularly schedule payments on everything from credit cards and mortgage loans to department store charges and utility company accounts. Payments will be debited from their accounts the day they are scheduled to be paid, and the funds will be sent either electronically or by check the following business day.

"Just like our Telephone Banking service, our ATM locations and in-store branches, eBanking is one more way we are serving our customers who may prefer different ways of banking," said Jamie Duke, group vice president of First Citizens Direct. First Citizens has offered customers computer banking through its PC Banking product since 1996. "Now with eBanking, our customers can have convenient on-line access without having to dial a new number or install software on their PC," Duke said.

Opening an eBanking account is easy. Customers will be able to enroll by calling 1-888-FC DIRECT (1-888-323-4732) and selecting option #2, or by stopping by their local First Citizens branch. To access accounts on-line, customers will visit First Citizens' web site at www.firstcitizens.com and select the eBanking option. eBanking will feature on-line help and secure e-mail to customer service representatives.

eBanking will be available to First Citizens' retail customers in North Carolina, Virginia and West Virginia on Aug. 30. A promotion inviting new customers to sign up for eBanking will begin Sept. 30. eBanking will be offered to business customers in the first quarter of 2000. Customers can learn more about First Citizens' eBanking service by visiting the bank's web site and viewing an on-line demonstration.

First Citizens operates more than 365 branches in 211 cities and towns in North Carolina, Virginia and West Virginia. Headquartered in Raleigh, the bank has $9.63 billion in assets. First Citizens Bank is committed to providing superior financial services to individual customers and small to mid-sized businesses. The bank has been working on its Year 2000 (Y2K) preparedness strategy since 1996 and is now ready for the Year 2000 date change. For more information on the bank's Year 2000 program, call toll free 1-877-Y2K-4-FCB (1-877-925-4322), email us or visit our web site.

For more information, contact:
Barbara Thompson
(919) 716-2716
First Citizens Bank