E*Trade Creates Bank Portal

Online brokerage E*Trade Inc. Tuesday
launched an online banking portal designed to integrate its brokerage
services with common banking transactions.

E*Trade Bank is the result of the company’s acquisition of Internet bank Telebank. The portal offers FDIC-insured
features such as CDs, money market and savings accounts, unlimited online
bill payment and E*Trade’s (EGRP)
investment and financial planning resources. Customers can link their bank
accounts with their brokerage accounts for easy accessibility, the company
said.

E*TRADE Bank is a component of the company’s strategy to aggregate customer
assets, diversify its revenue
streams and maximize profitability, said Christos M. Cotsakos, chairman of
the board and chief executive officer of E*TRADE Group.

“We believe E*TRADE Bank will establish a new standard for personal
financial management worldwide, giving
customers even more compelling reasons to consolidate a growing share of
their assets at E*TRADE,” said Cotsakos. “And when your mission is to put
power and choice in
consumers’ hands, they respond with their consistent support and increasing
business.”

The company has in the works a plan to provide a nationwide network of
Financial Service Kiosks through its acquisition of Card Capture Services,
Inc., one of the nation’s largest independent ATM networks.

Get the Free Newsletter!

Subscribe to our newsletter.

Subscribe to Daily Tech Insider for top news, trends & analysis

News Around the Web