| By Jim Bruene on February 6, 1998 8:22 AM | Comments (0) |
Chase Manhattan
Chase Manhattan Bank (New York; $281 billion; 3.6 million ATM cards) has joined the online banking elite, crossing the quarter-million subscriber mark. Here are the five largest North American banks. CIBC (Toronto, Canada; CDN$283 billion; 4.8 million ATM cards) is also nearing the quarter-million threshold, reporting 200,000 users on March 4, 1998.
Source: company reports, industry estimates
(1) For free services, this number of subscribers isn’t particularly meaningful. Number of users is a far better gauge. But of the five, only BankBoston has reported regular users, which are 50-60% of subscribers.
(2) Monthly fee for lowest priced online option. Some charge additional fees for access through Quicken or Money.
(3) Bill pay is optional. The fee is waived at Wells with a $5,000 deposit balance and at Nations and BankBoston with premium checking accts. Additional transaction fees may apply for heavy users.
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