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Small business customers of Chase Manhattan Bank can now make tax payments and pay their employees over the Internet.
Chase already offers its small business customers a number of Web-based services that are informational and transactional such as checking account balances, transferring funds and paying bills.
The two new services, however, are part of an enhanced offering that also allows customers to view credit information, link with personal accounts, and retrieve 13 months of business payment information.
The tax service allows small businesses to make required tax deposits without a trip to a branch and to pay taxes electronically. The payroll service allows employers to transfer money electronically from the small business' account to accounts of the employees' choosing. For employees that don't have any checking or savings account, the service allows employees to be paid through a special Chase account accessible via automated teller machine.
In other Chase Manhattan news, the bank recently won out in tough competition to become the administrator of the National Tobacco Growers Settlement Trust. The trust was established last fall as part of the settlement agreement between the U.S. government and major cigarette companies. The companies must contribute over $5 billion in the next 12 years to the trust. Chase recently mailed $250 million to 400,000 tobacco growers as part of the settlement agreement.
Copyright © 2000 Bankers' Hotline. Originally appeared in Bankers' Hotline, Vol. 10, No. 4, 4/00
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