Anyone use NetBank?

[Queasy]

Link

The Alpharetta-based, Internet-only bank will announce today an agreement with UPS that allows the financial institution's 270,000 account holders to make next-day deposits or mortgage payments at United Parcel Service's 3,800 stores nationwide.

The move gives NetBank something of a bank branch network without having to lay a single brick. The 9-year-old online bank has cited its freedom from real estate as an advantage in containing costs, keeping fees low and reacting quickly to changes in the banking marketplace.

Terms of the agreement between NetBank and UPS were not disclosed, though NetBank will pay UPS a fee for the overnight mailings.

I work near NetBank's Alpharetta office so I'm able to make a deposit there with the ATM they have in their lobby. Being able to make quick deposits is one thing that has hurt them and I would have left them a long time ago if I hadn't had the option of making deposits at their office.

 

[kranky]

Can't read the link w/o registering, but I can see why the UPS Stores are into this. Just think, they can charge $8.00 to pack every deposit!

 

[Queasy]

BugMeNot.com is your friend.

 

[kranky]

Originally posted by: Queasy
BugMeNot.com is your friend.

Indeed - thanks.

I can see why it would be an annoyance to have to make deposits via the mail. For people who move all their funds electronically it probably wouldn't matter.

The thing that occurs to me is how many potential customers would be swayed by this.

 

[RossMAN]

Local credit union + ING Direct and/or EmigrantDirect = 🙂

 

[Queasy]

Originally posted by: kranky
I can see why it would be an annoyance to have to make deposits via the mail. For people who move all their funds electronically it probably wouldn't matter.

Actually, making deposits via the mail is pretty easy. It just takes up to a week for the deposit to post. So, if you're impatient, like I am, it's not that great of a deal.