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FirstMerit Adds Services for 'Owner-Managed Businesses'
AKRON, Ohio -- Growing business demands and increased banking activity for business owners has prompted FirstMerit Corp. to retool its business services, the bank said Wednesday.The bank introduced an array of new services intended to benefit businesses. Among them: FirstMerit Free Business Checking, FirstMerit Visa Rewards Program, FirstMerit Business Resource Center and an upgraded FirstMerit e Connect treasury management system."We believe in business partnerships, and partnerships are about anticipating client needs and providing the right services to help them achieve financial success," said James Balchak, vice president, business and institutional marketing manager. "These service enhancements are based on discussions with business owners and analysis of their banking behaviors."FirstMerit's Free Business Checking is designed to eliminate monthly transaction-limit fees, the bank said. The new FirstMerit Free Business Checking account offers increased monthly transaction use to accommodate businesses that make up to 150 check and deposit transactions a month. The account also provides unlimited automated teller machine, automated clearing house, credit card and Internet banking transfer transactions. Additionally, many other business checking accounts have increased check and deposit transactions limits, and unlimited electronic transactions.The FirstMerit Visa Rewards program is intended to allow business owners to earn rewards on every dollar spent when they use their Visa credit card and Visa check card to make purchases. Those who enroll for the first time will receive 10,000 points just for signing up, the bank said.FirstMerit Business Resource Center features a Web-based knowledge center for every aspect of running a business, the bank said. Information is available by industry and market, and also offers a wide range of articles written by business experts. In addition, the site offers special savings on products and services commonly used by business owners and managers.FirstMerit e-Connect Treasury Management, an online business banking system that allows funds collection, disbursement and transfer, balance and transaction viewing, as well as wire transfers, will give users access to additional loan reporting. Based on his account agreement, a user can choose three to four reports from 10 different types of reports and pay down on a loan or line of credit by transferring funds from his account at FirstMerit. This will allow customers to better manage and understand their true costs of capital, the bank said.FirstMerit Corp. (Nasdaq:FMER) is a diversified financial services company headquartered in Akron that had assets of $10.5 billion as of March 31, and 161 banking offices in 24 counties in Ohio and western Pennsylvania. FirstMerit serves more than 45,000 business owners and provides a complete range of banking and other financial services to consumers and businesses through its core operations. Visit First Merit at www.firstmerit.com"