Synovus Invests in FDIC Liquidity Guarantee Program

(BUSINESS WIRE)--Synovus (NYSE: SNV), the Columbus, Georgia-based financial services company, will participate in the Federal Deposit Insurance Corporation’s (FDIC) Temporary Liquidity Guarantee Program beyond the initial 30-day program offered by all banks in conjunction with the FDIC. This FDIC program allows Synovus to offer 100% deposit protection for non-interest bearing deposit transaction accounts regardless of dollar amount at FDIC-insured institutions. Non-interest bearing deposit transaction accounts are usually payment-processing accounts, such as payroll accounts used by businesses, which frequently exceed the current maximum limit of $250,000. The Liquidity Guarantee Program can be voluntarily offered by banks to customers through the end of 2009. There is no cost to customers to receive the additional FDIC insurance.

“The benefit for our customers is that there is no limit on FDIC insurance coverage for their deposits in these types of accounts at any Synovus bank,” said Richard Anthony, Chairman and CEO of Synovus. “We understand the desire customers have during this difficult economic climate to be guaranteed they will always have access to their money.”

Additionally, Synovus’ Shared CD and Money Market accounts offer customers the unique opportunity to access up to $8 million in FDIC insurance by spreading deposits across its 32 separately-chartered banks.

-----
www.fayettefrontpage.com
Fayette Front Page
www.georgiafrontpage.com
Georgia Front Page

SunTrust Extends Deposit Cut-Off Time for Online Check Deposit Service

/PRNewswire-FirstCall/ -- SunTrust Banks, Inc. (NYSE:STI) announced today that it has extended the daily deposit cut-off time for its Online Check Deposit service from 5:30 p.m. until 8:30 p.m. ET -- a market-leading deadline. This additional three hours provides an even longer window for clients to receive same-day credit for checks and other eligible items deposited through Online Check Deposit. The service allows businesses to save time by using a SunTrust certified scanner to capture check images and transmit them electronically to SunTrust from their office.

"As current economic conditions continue to make every dollar count more and pressure businesses to find ways to improve efficiencies around daily cash management tasks, we're pleased to offer this enhancement to the service and provide faster access to their cash," says David Fuller, executive vice president and division head of SunTrust Treasury & Payment Solutions. "With Online Check Deposit, clients can focus more on the success of their businesses and less on the day-to-day administrative tasks -- such as driving to the bank."

To learn more about the benefits of Online Check Deposit and to view a demo please visit: www.suntrust.com/onlinecheckdeposit .