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| My URLwire covers only top Web launches, Web events and industry happenings. I post a selection of them here which are designed for online headline pointer services to cover via headline link. Request the advance Email version by sending your editorial interests to eric@urlwire.com |
| URLwire for Thursday, September 23, 1999 | |||||
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| PNC Bank To Host Online CD Auction Starting Today | |||||
| The bank, located online at http://www.pncbank.com, will join the online auction trend this week when it conducts an online auction for Certificates of Deposit (CDs). Beginning Sept. 23 and extending through Sept. 27, consumers can visit the site to place a bid. |  |
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Fifty CDs are available
to participants who will vie online to submit winning bids. A second auction
will begin on Sept. 30 and extend through Oct. 4. The event will
auction 12-month, $5,000 certificates of deposit. The maximum opening bid
accepted will be 10% APY (annual percentage yield). This compares favorably
to 5.28% APY, which is the current one-year national average for CDs according
to Bank Rate Monitor. The actual CD APY will be established by participants
on the online bidding floor.
“By piloting this auction, PNC Bank is offering participants an opportunity to obtain an annual percentage yield that may be higher than one they could obtain through more traditional means,” said Martin Evancoe, senior vice president of Electronic Commerce for the Regional Community Bank. “Online auctions are extremely popular and give consumers a fun and convenient way to shop at pncbank.com. If consumers respond favorably to the sale, we will host additional auctions in the future.” Those interested in the auction need to simply visit www.pncbank.com and click on the PNC Bank Auction Zone icon. Auction participants register and are asked to select a password. The registration and bidding process takes only a few minutes. Participants then bid on a CD. If they fall out of the pool of winning bids at any time, they will have an opportunity to bid again up to the close of the auction. The auction site was created using OpenSite Technologies Concierge service. OpenSite has developed the software for more than 300 customer sites including John Deere, Sharper Image and CNET. The auction is another innovative feature of www.pncbank.com. The site also includes online auto and home equity loan applications with 15-second responses; online bill payment; access to deposit applications; AccountLink, which gives up-to-the minute account information and allows the transfer of funds between accounts; and Learning Link featuring consumer information on a series of financial topics. PNC Bank Corp. (NYSE: PNC),
headquartered in Pittsburgh, is one of the largest diversified financial
services organizations in the United States. Its major businesses include
Regional Community Banking, Corporate Banking, PNC Advisors, Mortgage Banking,
Secured Finance, Asset Management and Mutual Fund Servicing.
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This is a private Web-based version of Eric Ward's URLwire. URLwire is a low frequency E-mail news alert service which covers significant Web launches, events, and online happenings, and is sent only to writers, reporters, Web guide editors, and site reviewers who earn a living covering the high end of the Web. It is matched personally by me to your subject interests, not automated, and importantly, not annoying. Send your exact subject interests to: Eric@urlwire.com (Voice 423.637.2438). Online news headline linking services are welcome to link to this story. |
