Union Bank to Offer New Back-Office-Conversion Product

  
    
  
  
    
      Union Bank of California, N.A., has announced the expansion of its 
      remote deposit suite of services to include a back-office-conversion 
      product permissible by the latest National Automated Clearing House rule 
      effective March 16th.
    
    
      The new product will allow businesses to convert eligible checks to ACH 
      debits in the back office rather than at the point of sale. Using this 
      new service, businesses can transmit an ACH file to the bank for 
      processing and posting to the account.
    
    
      “This new ACH rule allows us to expand our 
      remote deposit product capability and further complements our national 
      processing strategy,” said JoAnn Bourne, 
      executive vice president of commercial deposits and treasury management. “We 
      are looking forward to the rollout of the back-office-conversion product 
      to our business customers.”
    
    
      Benefits to business clients include faster access to funds, elimination 
      of trips to the bank and/or courier expenses, reduced bank fees by 
      consolidating banking relationships to one bank, and more efficient 
      clearing of check payments.
    
    
      “The cost savings and operational efficiencies 
      are the key motivators for our business clients to adopt BOC,” 
      said Alok Ahuja, senior vice president and head of product management 
      and development. “BOC allows our business 
      clients to enjoy the benefits of ACH without impacting the customer 
      check out process.”
    
    
      Based in San Francisco, UnionBanCal Corporation (NYSE:UB) is a bank 
      holding company with assets of $52.6 billion at December 31, 2006. Its 
      primary subsidiary, Union Bank of California, N.A., had 321 banking 
      offices in California, Oregon and Washington, and 2 international 
      offices at December 31, 2006. The company's Web site is located at www.unionbank.com.