An Introduction to Amsouth Bank:
AmSouth Bank is better known as 'the relationship people' for its concrete bonding with customers. Based in Birmingham, Alabama, it mainly functions as a Regional Bank Holding Corporation. The AmSouth bank was started business in 1972 and is a wholly owned subsidiary of AmSouth. It has a sound asset base of $49.5 billion and offers a diversified range of products through more than 650 branches spread over the Southeast America. C. Dowd Ritter is the Chairman, President and CEO of AmSouth Bank.
Services provided by AmSouth Bank:
Checking Account:
The checking accounts from AmSouth Bank offers value-added benefits designed in a simple and convenient way.
The Positively Free Checking Account helps one get rid of the usual minimum balance feature. The first order of checks are free and one has the facility to write unlimited checks. Besides, free Visa CheckCard and free internet banking is also provided. A 50+ Positively Free Checking Account is available for people above 50 years of age. It has extra provisions like no monthly fee and cash back with check card awards.
A Free Interest Checking Account holder can earn interest on the amount of money in his account. The daily simple interest is paid out every month and the interest rate is different for different tiers. The additional benefits are similar to those available in case of a Positively Free Checking Account.
A
MOR Linked Checking Account helps one earn interest on bank accounts and investments. Besides the benefits related to other checking accounts, it allows one to withdraw money from other banks' ATMs at no extra cost and needs to maintain a minimum daily balance of $25,000 in order to waive monthly service fee.
Savings Account:
A savings account in AmSouth Bank can earn one good interest and also serve as a reserve during emergency.
A savings account can be opened for $50 and no monthly fee is required if minimum balances are observed. Interest on the balance is compounded daily and paid out monthly. One can save 30% on the rentals for safe deposit boxes.
A Money Market Accountcan be opened for $100. other features are same as above
A Platinum Relationship Money Market Account can be opened by depositing $15,000. One also needs to maintain a minimum daily balance of $15,000 or pay a monthly fee of $15. Other benefits are same.
Loans:
The lending business of AmSouth Bank is recognized by the US Department of Housing and Urban Development. The home loan products are simply tailor made to fit one's needs. It includes 97% and 100% LTV(Loan to Value) mortgages, HELOC(Home Equity Line of Credit), Rural Housing Loans, VA Loans and many others.
AmSouth Bank recently took up a consolidation drive to merge all its subsidiaries into itself. Thus
AmSouth Bank of Alabama, AmSouth Bank of Florida, AmSouth Bank of Georgia, AmSouth Bank of Tennessee and AmSouth Bank of Walker County will become a single entity and will provide its services under one name. Thus it will make the bank a leader in the Southeast and will help it in becoming a prompt service provider.