The Internet access checking account at telebank is an outstanding product from a bank perspective and consumer perspective. There are no fees for internet access and the bill pay feature and the account has an interest rate of 3.10 percent on balances from $2,500 - $10,000. How many people have checking accounts with interest rates like that? The only drawback is the minimum balance on the account which is $2,500. (or $1,000 if you have a Savings or Money market account as well) The number of new Internet accounts at Telebank is growing exponentially right now and the future looks very strong. make no mistake though, this is not how Telebank has produced it's terrific growth in the past. It was done with telephone banking. In the last 3 months new deposits have been far in excess of expectations and there is no end in sight. The Internet access checking is just the latest addition to the bank's growth. The savings account has been attracting a lot of business lately as well. With an interest rate of 5.12 percent at the minimum balance, it is far better than most savings accounts around the country. Recently the stock has fallen drastically from it's high, and I would say it is one of the most undervalued stocks in the market right now. Telefool
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