News Releases

Back to News Releases

SunTrust Enhances Online Cash Manager Tool for Small and Mid-Market Businesses

PRNewswire-FirstCall
ATLANTA
Oct 30, 2006

SunTrust Banks, Inc. announced today an enhancement of its Online Cash Manager service, building upon its strength in providing financial services to small and mid- market businesses. Users of the service now have the ability to transfer payments and cash advances between business checking accounts and commercial loans and lines of credit.

According to Derrick Ragland, Senior Vice President and head of Business Banking at SunTrust, Online Cash Manager is now an even more effective tool for business owners to simplify their operations. "Since its introduction last year, Online Cash Manager has successfully filled the gap between retail and corporate functionality, and proven it is not simply a beefed-up consumer package or watered-down corporate product. Now, with its increased capabilities for transferring funds, it offers more benefits and value to our clients."

SunTrust Online Cash Manager is an easy-to-use solution for accessing account information, making payments and transfers, and performing other check services, such as retrieving copies online. It also features multi-tiered authority that can help minimize the risk of fraud by allowing for easy monitoring of online activity, delegating of specific tasks to individuals within the company, as well as assigning unique user passwords that can be managed and changed as frequently as needed.

The service is available in three levels with varying capabilities depending on a businesses' specific needs -- Online Cash Manager; Online Cash Manager Plus; and Online Cash Manager Premium.

"The business banking segment is an important area for us at SunTrust," said Mr. Ragland. "As part of our commitment to small and mid-size business owners, we are constantly looking for ways to enhance our service to help our clients run their businesses more effectively and efficiently."

SunTrust Banks, Inc., headquartered in Atlanta, is one of the nation's largest banking organizations, serving a broad range of consumer, commercial, corporate and institutional clients. As of September 30, 2006, SunTrust had total assets of $183.1 billion and total deposits of $124.4 billion. The Company operates an extensive branch and ATM network throughout the high- growth Southeast and Mid-Atlantic states and a full array of technology-based, 24-hour delivery channels. The Company also serves customers in selected markets nationally. Its primary businesses include deposit, credit, trust and investment services. Through various subsidiaries the Company provides credit cards, mortgage banking, insurance, brokerage, equipment leasing and capital markets services. SunTrust's Internet address is suntrust.com

First Call Analyst:
FCMN Contact: hugh.suhr@suntrust.com

SOURCE: SunTrust Banks, Inc.

CONTACT: Hugh Suhr of SunTrust Banks, Inc., +1-404-827-6813