Customers with a Working Capital Management Account--which includes cash management and investment services--are eligible for the new service, called WCMA Cash Manager. The service is designed for businesses with annual revenue of $5 million to $100 million.

WCMA Cash Manager provides clients with online financial-analysis tools and information about cash management, financing, and retirement planning, according to Merrill Lynch.

Clients have access to current account information, including loan balances and checking, deposit, and credit-card activity. They can arrange to have WCMA Cash Manager automatically withdraw funds from their accounts at other banks and deposited into a WCMA account, and can also sign up for a monthly electronic bill-payment service. Customers can access WCMA Cash Manager at www .businesscenter.ml.com.

Indy Lube, an automotive service company in Indianapolis, is an early user of the new online service. Each of Indy Lube's 23 company-owned locations and seven franchises makes a nightly deposit into a local bank account. Overnight, monies from each account are consolidated into Indy Lube's WCMA account. "You have a lot more earning power when you pool all your money together into one account, rather than spreading it out in 20 or 30 separate accounts," says Indy Lube controller Lisa Warrum.

Each morning, Warrum can verify the previous night's transactions online. "In general, the more funds in your account, the better rates you're going to earn on that account," she says.

Merrill Lynch's WCMA is available for $150 annually; WCMA Cash Manager is available to account holders for $25 per month.