Also from the Bull Market Report...
E*TRADE LAUNCHES E*TRADE BANK
E*Trade Group, Inc. (EGRP, $25, down $5) on Tuesday launched E*Trade
Bank,
the first all-electronic bank to offer consumers FDIC-insured banking
products and services fully integrated with an all electronic brokerage
offering. Less than three months after E*TRADE finalized its historic
merger with Telebank, the nation's largest pure-play Internet bank,
E*Trade Bank's virtual doors opened today via the Destination E*Trade
web
site located at www.etrade.com.
The newly launched E*Trade Bank combines the superior value of
interest-bearing checking, high yielding CDs, money market and savings
accounts, and unlimited online bill payment, with the tools, information
and educational resources of the world's most visited online investing
site. This integrated functionality includes a single login process,
which allows E*Trade customers to view combined bank and brokerage
account
balances using just one password for all of their accounts. Customers
can
also transfer funds between their brokerage accounts and FDIC-insured
checking, savings and money market accounts, using a seamless interface
on
a single Web page.
COMMENT: This is what we have been waiting for from E*Trade, an
integrated platform for banking and brokerage. E*Trade has created a
true
one-stop financial shopping services portal with one login and one site.
This allows people to better control their financial lives with easy
transferring of funds between brokerage accounts and bank accounts. We
knew this was going to be coming down the road but E*Trade has moved
much
faster than previously expected. This only increases our belief that
E*Trade will be one of the major financial services players in the years ahead. |
