USAB - USABancShares.com Message Board

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Non-Tech : USAB - USABancShares.com

USAB 75.00

0.0%

Dec 29 4:00 PM EST

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To: Michael Lipman who wrote (2175)	10/18/1999 12:42:00 AM
From: dharampal luthra	of 2419

Hello Michael Lipman!! Thanks for sharing that. Street.com is very respectable and guides a lot of Internet Investments. The more I look at USABancShares.com the more I realize that the stock has been used for a roller coaster ride in both up and down directions and very few people have done their due diligence. This bank was about to acquire another bank when they decided to go for the internet instead and I think that it was a very smart move inspite of the initial developmental expense. I am absolutely amazed and left speechless when I see the basher(s) on Yahoo (with their faces hidden behind numerous identities) compare it with the on-line banking offered by B&M banks and other irrelevant comparisons let alone suggestions of selling before SPO and buying back later and then not sticking with that either. Reminds me of a well known magazine that is famous for drawing a conclusion first and then looking for "near" and slanted facts to make a point. Sells like crazy at grocery stores. I have to hand this to the Americans (now I am one too) - there are a lot of smart people here and a lot more trusting folk that fall for anything that 'sounds' factual - and even a lot more that believe anything that is said with the right jargon. The missing ingredient in most cases is - the power and courage to accept the truth regardless of the source(race, color etc) based on their OWN good judgement and the power to question relentlessly (not by spamming but by digging deeper) and then accepting the well explored concepts. USABancShares can be compared to NetBank and Wingspan bank and the like but not to the Non-interest bearing on-line operations of the large Brick and Mortar Banks. It can also not be compared with brokerages offering Internet banking - because their PRIMARY mission is Brokerage. An internet only bank is a powerful tool for increased efficiency - (a) fewer mailed checks with fewer people processing them manually. (b) lower costs leading to interest income being shared between banks and customers (c) immediate access to your STATEMENT on-line showing all the deposits and payments (from Free Bill Pay) (d) access to virtually all ATMs when you are travelling without charge 5 times a month (e) Ability to check your bank activity even if you go and reside abroad for sometime. Example: I can pay my mortgage and other bills from Timbktoo if needed. On a personal level I have done some leading edge stuff before that the masses discover later (I went from Merril Lynch to Waterhouse as one of their first customers eons ago). In switching from a large bank to this one for my checking activity is , I believe, just another of such moves. Lately I did have one concern and I myself am to blame for that. I had been believing and had been telling friends that the DEPOSITS take 10 days to clear. I just re-checked and found that it is true for only the first month as a customer and later on it is only 2-5 business days. 10 day waiting period had been a road-block to get my friends to accept the switching. Now we shall see. Ideally I would like to see a legislative move whereby you could deposit checks in any bank so that your account could be speedily credited without involving the US Post office ( I know you are saying - snail mail). BUT then DIRECT-DEPOSIT is a near perfect answer to that dilemma for most people. As for the teething troubles this bank had lately - let us not forget that AOL and EBAY and YAHOO ( and today SI earlier) are not immune either. Harry p.s (I have written to Yahoo for solving the problem of their reputation being on the line for letting their message boards run amok and they have promised to do something and I already did note some changes e.g. You cant post URLs anymore..or is that a glitch.)

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