BB&T - News Releases

BB&T introduces new small business checking account

Jul 15, 2008

WINSTON-SALEM, N.C., July 15 /PRNewswire-FirstCall/ -- BB&T Corporation (NYSE: BBT) today introduced a new checking account designed to help small business owners avoid fees and save money.

Business Value 500 Checking will replace BB&T's Business Constant Checking product and offer several benefits, including:

  -- 500 free transactions per month
  -- free cash deposits up to $20,000
  -- free personal checking accounts for up to three business owners
  -- free automatic overdraft protection transfers (from a money market
     savings account or BB&T Visa Business credit card)
  -- free online banking and bill pay
  -- free business check card
  -- Visa business rewards credit card with no annual fee

"This is a new business checking product that will reinforce our standing as a top-ranked small-business friendly bank, and more importantly, help our valued small business clients save money in a tough economic environment," said Commercial Deposits Product Manager April Ellerbe.

Small business owners can avoid a $25 monthly maintenance fee with any of the following balances:

  -- $5,000 minimum daily
  -- $15,000 average monthly
  -- $50,000 average per month in a business investor's deposit account
  -- A combined $50,000 average per month among several BB&T business
     deposit products, including business CDs or outstanding business loans

BB&T today also said its 3-year-old Free Business Checking product now will include free cash deposits as high as $10,000 (up from $5,000).

With no minimum balance requirements or monthly maintenance fee, Free Business Checking offers 150 free transactions per month, free online banking and bill pay, a free business check card, a BB&T Visa business credit card with no annual fee, and a free personal checking account.

The U.S. Small Business Administration annually ranks BB&T among the nation's top "small business-friendly" financial holding companies.

With $136.4 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 BBT.com.

SOURCE: BB&T Corporation

CONTACT: April Ellerbe, Vice President, Commercial Deposits,
+1-704-954-1922, or Jeff Nichols, Vice President, Corporate Communications,
+1-336-733-1472, both of BB&T Corporation

Web site: http://www.bbt.com/

Company News On-Call: http://www.prnewswire.com/comp/809325.html