Suasion Web Picks: Internet-Only Banking Sites

E-Trade Bank

• Online application for savings and checking accounts, loans, insurance and credit.
• Free bill payment.
• Vast amount of information on investing and retirement.
• Monthly fee ($10/month) waived for checking balances above $1000.
• ATM use is free within the E-Trade network of more than 15,000 ATMs; other ATM fees reimbursed if balance is over $5,000.
• Active trades with E-trade can get quick transfers to and from E-trade Securities.
• DRAWBACK: Higher minimum balance than others.

NetBank

• Netbank, the first to offer an internet-only banking service, provides:

• Well designed and easy to navigate web site.
• Free bill payment and account aggregation.
• No minimum balance requirement.
• 1.5% interest on deposits.
• Has a low $3 service charge per month for accounts with an average daily balance of $500 or more. If your average daily balance is below $500, there is a $9 service charge .
• Ability for users to apply for loans, credit cards, foreign currency, or traveler’s checks overnight and even manage investments for $19 flat rate with UVEST.
• A network of no-fee ATMs and an ATM location tool.

Everbank

• No fees with minimum of $1,500.
• Below $9,999 1.76% APY to 100,000 or more 2.25% APY.
• Free bill payments.
• Efficient and friendly customer service.
• Track credit card expenses.
• Apply for mortgage.
• Low cost online trading starts at only $19.95 with Evertrade Direct Brokerage Inc.
• DRAWBACK: No account aggregation feature; only $6/month for ATM allowance; deposits can take up to 5 days to hit an account.

Suasion Resources is a financial marketing agency that has provided marketing consulting to the industry for the last two decades. Applying our unique approach to the art of persuasion, we have helped develop fresh innovative marketing approaches for many of the country's leading financial services firms. In the process, we have created some of the industry's best marketing practices. Our approach places at our clients disposal an uncommon level of both talent and technique in the areas of strategy formulation, creative development and implementation offered on a totally integrated basis from a single source.