Banknorth Enhances Online Services With Tie-In to PFM Software

New tool allows Internet customers to access account info via Quicken, QuickBooks and Microsoft Money programs

PORTLAND, Maine - Banknorth Group, Inc. has enhanced its online banking services for its member banks with a new tool that allows customers to use popular personal financial management (PFM) programs such as Quicken(R) from Intuit and Microsoft(R) Money to manage their Banknorth finances over the Internet.

Banknorth member banks include Peoples Heritage Bank in Maine, Banknorth Massachusetts, Banknorth Connecticut, Bank of New Hampshire, Banknorth Vermont and Evergreen Bank in upstate New York.

Banknorth customers who use - or would like to use - personal finance management software to track and analyze their finances can now simultaneously have direct online access to their Banknorth checking and savings accounts, allowing them to download balances and transaction history, transfer funds between eligible accounts and pay bills.

"It's a powerful, easy-to-use tool that gives people direct access to their accounting information, as well as Banknorth web services within the software," said Executive Vice President Barbara Ream, the Director of eCommerce at Portland, Maine-based Banknorth. "It's the latest example of Banknorth's commitment to an array of online services to best meet the needs of our personal and business customers."

The new service, available to online customers in all six northeast states Banknorth serves, supports the following popular PFMs: Microsoft Money, Quicken Deluxe for Windows, Quicken Deluxe for Mac (2002 only), Quicken Home and Business and QuickBooks.

Customers who take advantage of the service can synchronize their online banking needs with their financial management software at home or the office. For example, they can schedule and send instructions to pay a bill from Quicken or Microsoft Money at home and later log onto Banknorth's online banking system elsewhere to view or edit that same bill payment.

"It's just a very efficient, cost-effective, user-friendly way to manage your finances," Ream said.

There is no additional cost for the added service to Banknorth customers enrolled in the company's Internet banking services. Persons who are not current users of Microsoft Money, Quicken, or QuickBooks can purchase any of the programs from local retailers or by visiting each software manufacturer's site on the Internet (www.intuit.com and www.microsoft.com/money).

Banknorth customers already have the option to pay their bills online by signing up for the bank's electronic bill-payment service. Called eBillPay, the program costs about $3 to $7 a month, depending on the type of account, and includes 15 transactions (there is a 35 cent charge for each additional bill payment). Unlike some banks' bill-payment systems, eBillPay offers customers the ability to pay anyone - not just certain large companies. From making a recurring mortgage payment and paying utility bills to making a one-time payment for the local lawn service, the eBillPay service is a major time saver for those who use it.

The tie-in with personal financial management software is just the latest example of Banknorth's commitment to using the Internet to enhance customer service. Earlier this year, Banknorth introduced online mortgage services and online banking for small businesses.

Banknorth Group (NASDAQ: BKNG) is one of the 35 largest commercial banking companies in the U.S. with $21 billion in assets and nearly 300 branches at banking affiliates in six northeast states. Banknorth, NA, a Banknorth Group subsidiary, is the parent company of Peoples Heritage Bank in Maine, and other banking divisions in New Hampshire, Massachusetts, Connecticut, Vermont and upstate New York. The company and its banking affiliates also operate subsidiaries in insurance, investments, a money management firm and a leasing company. Other subsidiaries and divisions provide services in asset-based lending, mortgage services, private banking, merchant services and other financial services. For more information about Banknorth, visit the company online at www.banknorth.com.

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