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E*Trade
www.etrade.com
E*Trade has the Web figured out with a fast loading,
nice looking, and relatively uncluttered front page.
E*Trade (Palo Alto, CA; $5.5 billion managed; 182,000 active
accounts) will become the first brokerage to offer in-bound online funds
transfer from any checking account in the United States. The discount
brokerage will use National Processing Company’s (NPC) VirtualPAY
system for info on NPC’s first
implementation with Mobil Oil). The online transfers initiated
from E*Trade’s Web will be free; so not only will they be more convenient
for users, they will be cheaper than mailing a personal check or
transferring funds by wire. NPC, a publicly traded affiliate of National
City Bank, is the second largest processor of credit and debit card
transactions handling 2.5 billion transactions annually.
Contacts: Judy Balint is SVP at E*TRADE, 415.842.8600. Carl Sammons is
SVP Electronic Commerce at NPC Corporate Services, 502.364.2000.
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