Paramount Bank Announces No-Fee Deposit Services for Businesses

Paramount Bank Now Offers Deposit Services PLUS

Business Customer Courier Service Free of Charge



Apr 20, 2001, 01:00 ET from Paramount Bank

    FARMINGTON HILLS, Mich., April 20 /PRNewswire Interactive News Release/
 -- Paramount Bank has announced it is offering all deposit services free of
 charge to its business customers with a minimum monthly balance of $3,000.
 The no-fee services include monthly banking fees, per check fees, per deposit
 slip fees, wire-in fees, domestic wire-out fees, check ordering fees,
 cashier's check fees, teller transaction fees, courier service fees and more.
 These fees at other Detroit-area banks can cost businesses $500 a month or
 more and may require a much higher average balance.
     "A business can spend thousands of dollars a year in banking fees," said
 Jeffery Sugg, President of Paramount Bank, "this is especially painful for
 smaller businesses."
     "We want to build our bank business on relationships, not transaction
 fees," said Sugg.  "People are tired of being nickeled and dimed every time
 they do their banking.  We are creating a business that is totally customer-
 oriented.  We want to know them, to work with them, we want them to know us.
 They can come to Paramount Bank and know we won't be charging them a fee every
 time they walk in the door."
     With bank fees increasing at a rate higher than the rate of inflation and
 Michigan noted as one of the most expensive states for banking fees, Paramount
 Bank will be the only bank in Michigan and just one of very few banks in the
 country to offer no fee services.
     Paramount Bank, committed to being the most customer friendly bank in the
 Detroit area also offers free courier service to its business customers
 maintaining a minimum balance of $3,000 per month.  Paramount Bank will handle
 all the banking needs of business customers and their employees at their
 business location.  Very few banks offer courier service and none of them
 offer it free of charge.
     Paramount Bank, founded in 1998, was established to serve the financial
 needs of the community, its businesses and citizens with products that meet
 the needs of today's customer.  Paramount offers a full range of banking,
 lending and mortgage services.  Paramount Bank currently has two full-service
 locations in Oakland County: Farmington Hills and Birmingham and a loan
 production office in Macomb County in Clinton Township.
 
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                http://tbutton.prnewswire.com/prn/11690X14379858
 
 

SOURCE Paramount Bank
    FARMINGTON HILLS, Mich., April 20 /PRNewswire Interactive News Release/
 -- Paramount Bank has announced it is offering all deposit services free of
 charge to its business customers with a minimum monthly balance of $3,000.
 The no-fee services include monthly banking fees, per check fees, per deposit
 slip fees, wire-in fees, domestic wire-out fees, check ordering fees,
 cashier's check fees, teller transaction fees, courier service fees and more.
 These fees at other Detroit-area banks can cost businesses $500 a month or
 more and may require a much higher average balance.
     "A business can spend thousands of dollars a year in banking fees," said
 Jeffery Sugg, President of Paramount Bank, "this is especially painful for
 smaller businesses."
     "We want to build our bank business on relationships, not transaction
 fees," said Sugg.  "People are tired of being nickeled and dimed every time
 they do their banking.  We are creating a business that is totally customer-
 oriented.  We want to know them, to work with them, we want them to know us.
 They can come to Paramount Bank and know we won't be charging them a fee every
 time they walk in the door."
     With bank fees increasing at a rate higher than the rate of inflation and
 Michigan noted as one of the most expensive states for banking fees, Paramount
 Bank will be the only bank in Michigan and just one of very few banks in the
 country to offer no fee services.
     Paramount Bank, committed to being the most customer friendly bank in the
 Detroit area also offers free courier service to its business customers
 maintaining a minimum balance of $3,000 per month.  Paramount Bank will handle
 all the banking needs of business customers and their employees at their
 business location.  Very few banks offer courier service and none of them
 offer it free of charge.
     Paramount Bank, founded in 1998, was established to serve the financial
 needs of the community, its businesses and citizens with products that meet
 the needs of today's customer.  Paramount offers a full range of banking,
 lending and mortgage services.  Paramount Bank currently has two full-service
 locations in Oakland County: Farmington Hills and Birmingham and a loan
 production office in Macomb County in Clinton Township.
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X14379858
 
 SOURCE  Paramount Bank