BB&T to offer check-image deposit service for business clients

WINSTON-SALEM, N.C. – BB&T business clients soon will have a faster and more efficient way to make deposits with a new electronic service from BB&T subsidiary Creative Payment Solutions Inc. With BB&T OnSite Deposit, clients use a scanner attached to their computer to create a digital image of their check for secure transmission to BB&T and same-day deposit. BB&T will be among the first financial institutions to offer the remote deposit service as the financial industry continues its move toward paperless banking following the Check 21 law that went into effect in October. Check 21 allows banks to convert paper checks into substitute checks, reducing the time and cost of moving paper checks between banks.

Following a pilot program, BB&T OnSite Deposit will be available April 1. “BB&T OnSite Deposit will give our business clients an affordable, self-service option to make check deposits at their leisure, from any of their offices, from anywhere in the world and on their schedule, even nights or weekends,” said Lee Leslie, BB&T’s commercial deposit product manager. “It should also eliminate most geographical barriers in the traditional deposit processes for clients with multiple offices and with distant locations.”

“A key feature of the product is its simplicity,” said Harold Williams, senior vice president of Creative Payment Solutions. “Clients simply connect the scanner to their computer and insert the self-installing software disc that comes pre-configured for their BB&T account. In a matter of minutes, they’re ready to make deposits.” BB&T OnSite Deposit will offer scanners for small- and large-volume deposit clients and provide easy-to-use Windows-based software that allows clients to see and verify scanned checks and deposit amounts prior to transmitting electronically. The typical scanner is similar to the size of a shoe box and automatically feeds the checks through the scanner. Depending on the model used, scanning time will range from less than a second to a few seconds. BB&T OnSite Deposit is the first of a series of new products for business clients to
be introduced in 2005. BB&T AllSite Deposit, planned for introduction this spring, will allow clients to capture cash and check deposits nationwide.

About BB&T
Winston-Salem-based BB&T Corporation (NYSE: BBT) and its subsidiaries offer full-service commercial and retail banking and additional financial services such as insurance, investments, retail brokerage, corporate finance, treasury services, international banking, leasing and trust. BB&T operates more than 1,400 financial centers in the Carolinas, Virginia, Maryland, West Virginia, Kentucky, Tennessee, Georgia, Florida, Alabama, Indiana and Washington, D.C. With $100.5 billion in assets, BB&T Corp. is the nation’s ninth largest financial holding company. More information is available at www.BBandT.com.

About Creative Payment Solutions
Creative Payment Solutions is a wholly owned subsidiary of BB&T Corporation. Established in 2003, CPS offers electronic payment products and services to financial institutions for re-sell to their clients under the financial institutions’ brand and product requirements. CPS systems allow financial institutions to operate their electronic payment processing systems in an Application Service Providers (ASP) environment. CPS offers NSF recovery service (RCK), telephone check (TEL), remote deposit and remittance (ARC), and electronic lockbox.