WINSTON-SALEM, N.C., Sept. 11 /PRNewswire-FirstCall/ -- BB&T will host
a free educational webinar Sept. 18 to discuss the benefits of the modern
"virtual vault," which allows banks to expand commercial vault services
beyond their geographic and brick-and-mortar boundaries.
"Commercial Vault Services in the Virtual Environment," the seventh in
an ongoing series of payments-related webinars from BB&T, will be presented
from 2 p.m. to 3 p.m. (EDT) by John Sherry, Deposit Product manager for
BB&T Commercial Vault Services. Online registration is available at
http://www.BBT.com/paymentswebinar .
Virtual vaults, such as BB&T's Vault360 service, allow banks to accept
and process large cash or check deposits from commercial clients operating
anywhere in the continental United States.
They are designed for "cash-heavy" retailers, such as grocery store and
restaurant chains that use armored couriers to deliver their deposits to
the bank. The service allows clients to make all of those deposits with one
bank, even if they operate outside of the bank's footprint.
Banks who provide virtual vault services typically partner with armored
couriers to transport check and cash deposits to one of many commercial
vault centers across the country for next-day processing and crediting. The
service also lets banks convert eligible check items into electronic
deposit transactions, saving clients a trip to the bank.
By consolidating their deposit relationships with one bank, clients can
free up capital by eliminating minimum balance requirements at multiple
institutions, idle funds and excess fees.
With $136.5 billion in assets, Winston-Salem, N.C.-based BB&T
Corporation (NYSE: BBT) is the nation's 14th largest financial holding
company. It operates nearly 1,500 financial centers in 11 states and
Washington, D.C. More information about the company is available at
http://www.BBT.com .
SOURCE BB&T Corporation
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Related links:
http://www.BBT.com
http://www.BBT.com/paymentswebinar
http://www.prnewswire.com/comp/809325.html /
CONTACT:
John Sherry, Product Manager, Commercial
Deposits, +1-704-954-1928, or Jeff Nichols, Vice President,
Corporate Communications, +1-336-733-1472, both of BB&T
Corporation
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