Money-rates.com is reporting that the rate decreases of interest rates by the Federal Reserve has not diminished the attractive deals on online checking accounts that online banks are offering.
(PRWEB) November 12, 2007 -– Money-rates.com is reporting that the rate decreases of interest rates by the Federal Reserve has not diminished the attractive deals on online checking accounts that online banks are offering. A recent survey by the site indicated that the nations 100 largest banks were offering a rate on their basic checking account almost four points below that of the online bank checking rates posted by money-rates.com.
According to web site editor, Clark Schultz, The amazing part of online banks is that not only are online banks offering higher rates and lower fees than brick-and-mortar banks, but 2007 has seen large growth in the rewards programs offered by online banks which are largely unavailable at your local bank."
Rewards programs offer incentives like cash, gifts, airlines miles, and even iPods to customers who use their online checking account for direct deposit, online bill payment, or auto-debit. Each participating bank has their own unique program with their own unique restrictions or requirements. Money-rates.com is currently reporting on over five banks which are offering APY yields on their online checking account of over 6.00% if the requirements of the Rewards Program are met. These programs are not designed for people who like to greet their teller by their first name, but are designed for savvy online investors looking to reap the benefits from the competition among online banks.", Schultz added.
In addition to updating visitors on online checking deals, Money-Rates.com provides with a constantly updated stream of online bank deals for deposit accounts, credit cards, and mortgage products.
About Money-Rates.com -- Money-Rates.com is a leading source of bank rate information, financial news and savings advice. Since 1999, the company has functioned as an invaluable source for individual investors in their financial-based decisions.
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