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Online Banking:  Basics
  (Bankrate.com)

 

Online Banking:  Is it for YOU?
  (Motley Fool)

Notes

Rates shown are annual percentage yield (APY) and may not be current.

eBill is a service where your bills are sent electronically, or mailed & scanned, and presented to you online, usually in conjunction with BillPay.

The Personal Financial Software (PFS) interface identifies the bank's links to your software (Quicken, Money, Managing Your Money).

OFX, the Open Financial eXchange standard, enables you to process electronic transactions directly from your personal financial software (e.g. Quicken, Microsoft Money) without entering transaction information online and in your software.

QIF, the Quicken Interchange Format, provides a download interface (usually multiple steps) for electronic transactions, but eliminates duplicate entries.

 

Comparison of Online Banks (rates may not be current)
Online Bank Check
APY		 From To Fee MMA
APY		 From To Fee Bill
Pay		 # 
Pmts		 eBill PFS
Interface		 Free ATM / month Updated Comment
American Bank pcbanker.com 5.40% 100 10K $0 0.00%
2.75%
4.25%
4.50%		 0
1K
10K
25K		 1K
10K
25K
50K		 $0
$0
$0
$0		 free all   n/a $6 4/23/01

Tiered Rates Decline as Balance Increases
American Express Banking 2.00%
2.00%		 100
2500		 2500
Up		 $7.50
$0		 4.00%
4.00%		 100
5K		 5K
Up		 $5
$0		 free all   n/a $6 4/23/01  
BankDirect.com 0.00%
3.25%
4.25%		 100
2500
10000		 2499
9999
Up		 $15
$0
$0		 0.00%
4.50%		 500
10K		 10K
Up		 $0
$0		 free all   OFX 4 / 1.50 4/23/01

 
Bank of America 0.25%
0.25%		 100
5000		 4999
Up		 $20
$0		 1.50%
1.50%
4.00%
4.25%		 2500
5000
10K
25K		 5K
10K
25K
50K		 ?
$0
$0
$0		 n/a n/a   QIF ? 4/23/01 Combine balances to avoid service charge, free ATM at BoA ATMs only
Bank One 0.00%
0.00%		 100
500		 500
Up		 $3
$0

n/a

 n/a n/a n/a 4.95 all   QIF ? 4/23/01  
Charter One Bank 5.00%
5.00%		 50
2500		 2500
Up		 $12 2.24%
5.25%		 100
10K		 10K
Up		 $10
$0		 free all ü QIF ? 4/23/01 Billl Pay is currently free
Citibank

?

 ? ? ? ? ? ? ? free all   QIF? 4 / 4/23/01 Info not readily available
Commerce Bank 0.00%
1.00%		 100
1000		 1000
Up		 $0
$0		 1.77%
2.25%		 1K
25K		 25K
Up		 ?
$0		 ? ?   ? ? 4/23/01  
directbanking.com 4.00% 100 Up $0 0.50%
3.00%
4.75%		 0
2500
10K		 2500
10K
Up		 $15
$0
$0		 free all   OFX? ? 4/23/01 Ads don't match fee schedule...
ebank.com 3.75% 500 Up $10 4.25%
5.00%		 1K
10K		 10K
Up		 $0 free all   QIF 6 4/23/01 Billpay free for 6 mos.
ETRADE Bank 0.00%
3.15%
3.25%		 0
1K
10K		 1K
10K
25K		 $5
$0
$0		 2.50%
5.25%
5.50%		 1K
15K
50K		 15K
50K
Up		 $20
$0
$0		 free all   ???

all

4/23/01  
everbank.com 0.00%
4.01%		 500
1500		 1500
Up		 $5
$0		 4.6% 1500
1500		 1500 $5
$0		 free all   QIF $6* 4/23/01 Introductory 5.01% APY, * ATM rebate if you mail receipts
First Internet Bank of Indiana 3.75% 100 Up $0 4.59% 100
4K		 4K
Up		 $5
$0		 free all   QIF $6 4/23/01  
First National                              
First Tennesee Bank                              
First Union                              
Fleet                              
Huntingdon                              
Juniper.com 2.53%   100  

n/a

n/a

     3.95 20 ü ??? $6 3/29/01 Billpay free for 6 mos.
Key Bank                              
Lighthousebank.com                              
National InterBank                              
nBank.com 5.69%   2500   n/a n/a     free all   ??? $6   Delay for new payees
Netbank.com 3.05%   50   5.25% 100     free all   OFX  ?  

OFX coming, acquiring Compubank
Ohio Savings Bank                              
SFNB.com 4.00%   100   3.00% 1000     free 35   QIF

0

    
U.S. Bank                              
USAA 1.26%   1000   n/a n/a     4.95 all ü QIF  ?  

 
Virtual Bank                              
Wachovia                            

Merging w/ First Union

Wells Fargo                              
wingspan.com 3.14%   1000   n/a n/a     free all ü ??? $5    
 

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