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National InterBank

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#1 markber


    1 billion bucks

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Posted 24 December 2002 - 05:22 AM

Quick note:

I can recommend National InterBank to high-income customers who can maintain $1500 balance on their checking accounts. If you open both checking and savings accounts in National InterBank and keep $1500 balance on your checking account, you will get 25 free bill payments, $4.50/month ATM rebates, online check images and 2.5% (as of 12/25/2002) APY of Money Market Savings account. If you fail to keep $1500 balance, you will be charged $6 fee for bill payment. APY of National InterBank Savings account is among the highest in the industry (as of 12/25/2002)

I can not recommend National InterBank to low-income customers because its checking account requires $1500 minimum balance to get free bill payment. National InterBank does offer free ATM rebates. However, many online banks offer both free bill pay and ATM rebates with no/very small minimum balance requirement (State Farm Bank, Farm Bureau Bank, Bank of Internet, etc). National InterBank offers this account with no online ACH transfers, email alerts, and e-bills. You can get much better terms elsewhere. For example, the interest checking account of First Internet Bank of Indiana with $500 minimum balance requirement gives you free bill payment, ACH-in transfers, e-bills, email alerts, and ATM rebates. National InterBank is not the best bank for low income customers.

Check also other internet branches of Union Federal Bank: