These first A2A transactions were initiated at an American Eagle Federal Credit Union (AEFCU) ATM in East Hartford, Connecticut. Consumer deposit accounts at WCTA Federal Credit Union in New York, and Banknorth, N.A. in Massachusetts, were the recipients of the inaugural money transfers, as facilitated by the NYCE Network.

NYCE A2A enables the real-time transfer of money between two accounts at federally-insured financial institutions that participate in the NYCE Network. Consumers will find the access, immediacy, cost and method of A2A transfers almost identical to the other ATM and electronic banking transactions that they now routinely make.

NYCE's A2A is made possible by its Enhanced Message Structure (EMS) payments processing services that enables all 2,200 NYCE members to offer a suite of "card not present" real time funds transfer services to financial institutions' cardholders, using the NYCE Network infrastructure already in place for NYCE ATM and POS PIN debit purchase transactions. NYCE financial institutions individually determine how to send A2A - whether through ATM, web, phone, or with assistance from financial institution branch personnel.

"We applaud American Eagle for their payments vision and drive that launched A2A transfers via NYCE, a 'live in production' milestone that reflects NYCE's commitment to bring to market the next generation of electronic financial payments," said Dennis F. Lynch, President and CEO, NYCE Corporation. "A2A creates new revenue opportunities for our Participants while giving consumers greater flexibility and convenience in managing their money electronically. We are just months away from having all of our financial institution Participants, like WCTA and Banknorth, technically certified to receive A2A credits to their depositors' accounts."

"We are delighted to be the first with the capability to send and receive A2A transactions across the NYCE Network, said William Dokas, President and CEO of American Eagle Federal Credit Union. "Today's real-time world moves so quickly, and A2A is an exciting offering that is a natural complement to the convenience already offered by NYCE ATM and PIN POS services. This new service is a key differentiating use of real time EFT technology at all of our 21 ATMs. In the very near future, A2A will also be available on our e-banking platform for American Eagle cardholders choosing to send money from their PCs."

AEFCU introduced A2A, built awareness, and encouraged use of A2A by launching a customer awareness campaign consisting of a promotional newsletter, a website announcement, in-branch closed circuit TV advertisements, on-hold messages on AEFCU's customer service line, and updated checking and ATM brochures. "Because this service is new to both our members and the marketplace, we wanted to make sure they not only knew it was available, but also appreciated its potential for convenience," said Mr. Dokas.

To transfer funds using NYCE's A2A product, the sender simply needs the receiver's ATM/debit card number embossed on the front of the card. The receiver's PIN and expiration date are never required to conduct any transaction. The transaction to fund the money transfer is always authenticated by the sender's financial institution, as is the case with all EFT transactions.

Like all transactions routed through the NYCE Network, A2A money transfer transactions are switched immediately in real time, and settled in the ordinary course with all other network transactions. A2A is processed as "two transactions in-one": first, an authenticated debit from the account of the sender is conducted at a financial institution's ATM, e-banking website, phone banking session, or in-person teller. Second, a credit is made to the receiver's account without the receiver having to participate in the transaction. The receiver may withdraw the transferred funds in accordance with the depositing financial institution's services and policies. Both the sender and the receiver must have accounts with financial institutions that are members of the NYCE Network.