"Small business customers have told us they need financial management tools that will allow them to handle tasks like payroll processing without diverting their focus from managing their businesses. Wachovia is committed to working with customers to provide direct solutions or indirect solutions through high-quality, third-party providers of related services," said A. Michael Wilkerson, Wachovia’s Small Business sales manager. "In our search to identify a provider of payroll services for small businesses, Paychex emerged as the clear leader with its emphasis on quality service and innovation at competitive prices."
Paychex has more than 100 locations and 350,000 clients nationwide. Recently, Paychex announced an innovative Flexible Pay Package, which simplifies the account reconciliation process for small businesses while providing employers a number of choices in the way they pay employees.
With the Flexible Pay Package, an employer can offer employees a wide range of payment options, including traditional paper check, direct deposit or a payroll debit card. Funds are transferred from the employer’s bank account in a single debit transaction, making account reconciliation a one-step process.
Wachovia Small Business bankers have completed training to assist companies in evaluating their payroll needs and will provide an introduction to a Paychex sales representative if customers are interested in learning more about services offered.
Earlier this year, Wachovia introduced the Wachovia Business Power program that enables businesses to gain cost savings on eight frequently used vendor services without having to pay fees or complete paperwork to join the program. In May, Wachovia announced that it would begin offering three new banking card options – the Wachovia Business Check Card, Business Banking Card and Business Deposit Only Card – to help small businesses manage how they and their employees make purchases, deposits and withdrawals.
Information on Wachovia’s full suite of services for businesses can be obtained by contacting a Wachovia banker, calling Wachovia Business Support at 800-994-9222 or visiting Wachovia’s Web site at www.wachovia.com.
Wachovia Corporation (NYSE: WB), with dual headquarters in Atlanta and Winston-Salem, N.C., is a leading financial holding company serving regional, national and international markets. As of June 30, 2000, Wachovia had assets of $70.8 billion. Member companies offer consumer and commercial banking, bank card, asset and wealth management, capital markets and investment banking, brokerage and insurance services. Wachovia Bank, N.A., the principal subsidiary, has nearly 700 offices and 1,400 ATMs in Florida, Georgia, North Carolina, South Carolina and Virginia.
Paychex (NASDAQ: PAYX) was founded in 1971 and is based in Rochester, N.Y. The company is a national provider of payroll processing, human resource and benefits outsourcing solutions for small to medium-sized businesses.
