There are a few new internet-only banks, or at least I have never heard of them before.** Earthstar Bank: http://www.earthstarbank.com** interSTATENETBANK: http://www.isnbank.org/index2.htmlThere are a few others. Check out the Online Banking Report list:http://www.onlinebankingreport.com/cgi-bin/web_banks/db.cgi?db=default&uid=default&sb=1&Institution=&Headquarters_Country=United+States&Headquarters_State=---&Type=---&Service_Provider=---&Internet_Only_Bank=Internet-Only+with+no+branches&view_records=+Search+If this link doesn't work, just go to http://www.onlinebankingreport.com and click on "True Web Banks," and fill in the appropriate search criteria.
Great find, GoCowboys!...more banks for me to add to www.ibankdesign.com 's list of OLBs.
** Earthstar Bank: http://www.earthstarbank.comThey are making money:http://www3.fdic.gov/idasp/strureport.asp?PassCert1=35561&PassCert2=35561&inActive=A&IDForm=INSTSTRU&INREPTLEV=DRSLineLevel+%3D+40From their web site:Checking Accounts Star Strata Checking for $500.00 and up 2.96% Interest Rate 3.00% Annual Percentage Yield Interest rates and Annual Percentage Yields are current as of 10/08/02 and may change daily. Earn interest with Star Strata Checking if you maintain a minimum average daily balance of $500.00. The features of Star Strata Checking include:Interest calculated daily, paid and compounded monthly per strata Free Online and Telephone banking Free order of first 200 checks Free check images returned with your monthly statement Free ATM or Visa Debit card with 24-hour access to your accounts Free Overdraft Protection from either Star Strata Money Market or Statement Savings (Overdraft Lines of Credit also available) Free Direct Deposit of payroll and retirement benefits Unlimited check writing privileges Minimum balance requirement of $100.00 to avoid a $5.00 monthly fee (waived for seniors over 55) Free online bill payment for the first six months. After six months, no online bill payment fee will be assessed as long as your combined Star Strata Checking and Star Strata Money Market account balances exceed $3500. If the combined balances fall below $3500, a $4.00 monthly fee would be charged for the bill payment service. Insured up to $100,000.00 by the FDIC per depositor I don't see any ATM rebates.Jeff
3.00% Annual Percentage YieldThat's obviously a teaser rate, since their MM account is playing 2.50%APY, and their short-term CDs are even lower.I'd guess 0.75% for their "real" checking APY.
3.00% Annual Percentage YieldThat's obviously a teaser rate, since their MM account is playing 2.50%APY, and their short-term CDs are even lower.I'd guess 0.75% for their "real" checking APY. Why is it obvious when the web site does not indicate a rate reduction after a period of time?I currently get 2.7% in my checking account where the short-term CD and savings rates are lower. 3.0% is not out of place for an internet-only bank. Your guessing is not relevant for these banks.jk
Thanks for the info on these two new banks. Note that Earthstar Bank is another Pennsylvania institution.
Yep...Net Bank is the best of all online banking.
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