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National City Receives NACHA Quality Award for
Integration of Check and Electronic Payment Systems
San Antonio, Texas, April 11, 2005 –
NACHA - The Electronic Payments Association
presented one of its 2005 Kevin O'Brien ACH Quality
Award today to National City Corporation. National
City is being recognized as a financial institution
receiver of ACH payments for the complete
integration of the company's paper-based checking
account and electronic payment systems.
"Quality is a critical component of any payment
product or process, and this year's NACHA Quality
Awards are excellent examples of improvements that
help make check conversion the highest quality
product possible," said Elliott C. McEntee,
President and CEO of NACHA. "Congratulations to
National City on winning one of this year's NACHA
Quality Awards."
National City's integration of its paper and
electronic payment system allows it to recognize an
ACH debit it receives that is a converted check. On
a customer's checking account statement, the item is
reported in the "Checks" section, complete with
check number, and then identified as a "Converted
Item" which is also reported in the "Debits/Charges"
section. Customers also know the check was paid when
accessing online banking or voice response units.
Any converted business check presented on a business
account that has controlled disbursement, account
reconcilement, positive pay or stop payments is also
passed to those systems for reporting and review.
"It is up to National City to make sure that our
clients' payment reporting needs are met," said Mary
Ann Francis, senior vice president and manager of
Global Trade and Treasury Product Management at
National City. "Our business clients' checks are
being converted today. By integrating our check and
electronic systems, National City ensures that our
clients have full reporting of their payments as
well as complete access to treasury management
services."
"National City's systems integration is a best
practice that addresses customers' needs about
locating and understanding transactions reported on
their account statements, and facilitates additional
services that are provided to business customers,"
said McEntee.
The Kevin O'Brien ACH Quality Award is presented
annually to one of more organizations to recognize
best practices in ACH participants' efforts to
maintain and improve the quality of ACH services and
the integrity and reliability of the ACH Network.
The award is named for the late Kevin O'Brien,
NACHA's Chairman in 1999-2000.
The ACH Network is a national electronic payments
system used by the nation's 20,000 financial
institutions and an estimated 4.8 million businesses
and 145 million Americans. ACH payments include
Direct Deposit of payroll, Social Security benefits
and tax refunds, Direct Payment of consumer bills,
e-checks, business-to-business payments, and Federal
tax payments. In 2004 there were more than 12
billion ACH payments made, worth $28.7 trillion.
About NACHA - The
Electronic Payments Association
NACHA is the leading
organization in developing electronic solutions to
improve the payments system. NACHA represents more
than 11,000 financial institutions through direct
memberships and a network of regional payments
associations, and 650 organizations through its
industry councils. NACHA develops operating rules
and business practices for the Automated Clearing
House (ACH) Network and for electronic payments in
the areas of Internet commerce, electronic bill and
invoice presentment and payment (EBPP, EIPP),
e-checks, financial electronic data interchange
(EDI), international payments, and electronic
benefits transfer (EBT). Visit NACHA on the Internet
at www.nacha.org.
About National City
National City
Corporation (NYSE: NCC), headquartered in Cleveland,
Ohio, is one of the nation's largest financial
holding companies. The company operates through an
extensive banking network primarily in Ohio,
Illinois, Indiana, Kentucky, Michigan, Missouri and
Pennsylvania, and also serves customers in selected
markets nationally. Its core businesses include
commercial and retail banking, mortgage financing
and servicing, consumer finance and asset
management. For more information about National
City, visit the company's Web site at
NationalCity.com.
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