Word: netbank
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...should be, but too many e-banks have provided customer service that is virtual, as in virtually nonexistent. One ex-patron says he spent 40 minutes on hold every time he called NetBank. Jim Bruene, editor of Online Banking Report, agrees that virtual banks need faster service. "Now you're lucky to get an e-mail response in two days," he says. "At some point, that response at a good wired bank will be in two minutes...
...accounts with an average of triple the interest and half the maintenance fees of off-line banks, according to Bankrate.com Now, with slow customer growth and high marketing costs, the e-field is narrowing. Bank One is grounding WingspanBank.com after a $150 million launch. CompuBank sold its accounts to NetBank in March, and Lighthousebank is looking for a buyer...
...INTEREST If you don't really care about ever walking into an actual bank building, consider online banks, which are now offering better rates and lower fees than many bricks-and-mortar versions, plus access to ATMs. Both NetBank, which last week said it had signed up 8,000 new customers in the first quarter (bringing its total to near 25,000), and Telebank offer about 3% on checking. That compares with an average of .95% at most U.S. banks and thrifts. Meanwhile, money-market accounts, many of which offer checking privileges, pay a healthy...
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