Has anyone seen any analysis as to the effect on BOFI or other internet based banks of rising interest rates relative to B & M banks?
I have not. I know that Matt in the MF's Where the Money Is constantly brings this up, but it doesn't make sense to me. I have just deposited money with BofI through my company and am getting 1.05% compared to the .35% I was getting and 0 for my company checking. If money market rates go up to 3% I assume BofI would pay 3.7%. I don't know that, but that is my assumption...I am also very interested if someone has a better explanation/thought process on this.
BOFI will always beat the B&M interest rates or they will tank because that is essentially the tangible advantage they offer, the primary intangible is better customer service. Were you asking if the B&M's will fight back? I think BOFI still tops them. They are simply not encumbered the same way.But, I don't have any analysis you can find by Googling.
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