Skip to main content
No. of Recommendations: 2
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.html

There 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.
Print the post Back To Top
No. of Recommendations: 1
Great find, GoCowboys!...more banks for me to add to www.ibankdesign.com 's list of OLBs.
Print the post Back To Top
No. of Recommendations: 0
** Earthstar Bank: http://www.earthstarbank.com

They are making money:

http://www3.fdic.gov/idasp/strureport.asp?PassCert1=35561&PassCert2=35561&inActive=A&IDForm=INSTSTRU&INREPTLEV=DRSLineLevel+%3D+40

From 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

Print the post Back To Top
No. of Recommendations: 0
3.00% Annual Percentage Yield

That'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.
Print the post Back To Top
No. of Recommendations: 1
3.00% Annual Percentage Yield

That'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

Print the post Back To Top
No. of Recommendations: 0
Thanks for the info on these two new banks. Note that Earthstar Bank is another Pennsylvania institution.
Print the post Back To Top
No. of Recommendations: 0
Yep...Net Bank is the best of all online banking.
Print the post Back To Top