7 On-line Banking Success Stories

You have seen their ads and you may have wondered if they are worth a second look. What am I talking about? Online banks! Also recognized as world wide web banks, these are financial institutions who provide the majority of their banking solutions over the net. Typically, on the internet banks provide consumers high savings charges, low loan rates, and a mix of other solutions. Let's appear at 7 winners in this fast growing field:

1. E Trade Bank Part of E Trade Financial, the discount internet stockbroker. E Trade Bank provides checking accounts, dollars markets, and certificates of deposits as well as a VISA credit card.

2. Netbank Along with offering checking and dollars marketplace accounts, Netbank gives mortgage and property equity lines of credit to customers. With tie-ins to affiliated businesses Netbank also presents Auto, Homeowners, Condo/Co-op & Renters Insurance and Life, Health, Long Term Care & Dental Insurance.

3. Virtual Bank VirtualBank, a division of Lydian Private Financial institution, is a federally chartered financial institution regulated by the Office of Thrift Supervision. The bank offers checking, savings, and credit card providers to buyers.

4. Ever Bank This leading web provider of banking providers offers the most extensive, and varied solutions of any on the internet institution. Ever Bank delivers business and personal checking accounts, mortgages, residence equity loans/lines of credit, reverse mortgages, a VISA credit card, and world currency accounts. This latter category is for investing in Deposit accounts and CDs denominated in any major world currency.

5. Emigrant Direct Part of Emigrant Savings Financial institution which traces its roots back to 1850 as a service provider to Irish immigrants. Emigrant has $10 billion in assets and more than $1 billion in net worth. It operates as a full service bank through 36 branches in the New York metropolitan area, and through EmigrantDirect.com. Emigrant offers only consumer companies on the net; their high paying savings account is a chief investment vehicle.

6. ING Direct ING is a global financial institution of Dutch origin offering banking, insurance and asset management to over 60 million private, corporate and institutional clients in more than 50 countries. ING offers mortgages, loans/lines of credit, savings accounts, certificates of deposit, and funds marketplace mutual funds through another division.

7. MetLife Bank Yes, MetLife. A division of insurance powerhouse Metropolitan Life, MetLife Financial institution delivers savings accounts, certificates of deposit, income market accounts, mortgages, and IRAs to consumers.

If you are banking exclusively with a "brick and mortar" institution you may well be missing out on high paying investment options or competitive loan rates that easily undercut many traditional banking entities. These on-line banking success stories are only component of a growing number of savvy providers, some of whom are definitely worth a closer look by you, the consumer.

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