Ameritrade Announces Expanded Online Features.Business Editors OMAHA Omaha, city, United States Omaha (ō`məhä, –hô), city (1990 pop. 335,795), seat of Douglas co., E Nebr., on the west bank of the Missouri River; inc. 1857. , Neb.--(BUSINESS WIRE)--Nov. 21, 2000 Introduces Instant Account Opening and Online Statements Utilizing the power of the Internet to enhance the services it offers, Ameritrade Holding Corporation (Nasdaq: AMTD AMTD Arithmetic Mean Temperature Difference AMTD Automatic Magnetic Tape Distribution AMTD Affordability and Manufacturing Technology Demonstration ), one of the world's leading providers of online brokerage services and a technology innovator within the brokerage industry, today introduced two new online features - Instant Account Opening and Online Account Statements. "Instant Account Opening and Online Account Statements enable our customers to more fully realize the potential of online investing," said Jack McDonnell, president of Ameritrade, Inc. "By offering these new features, our customers have faster and easier access to their accounts so that they can move at the speed of the market." Instant Account Opening This new service allows Ameritrade, Inc.'s prospective and current customers to submit their account information and funds electronically, reducing time delays for funds to be deposited into an account. Instant Account Opening is the fastest way for individuals to open and fund a new individual or certain joint cash account, and will also eliminate costs incurred by customers in wire and overnight mail fees. Individuals, who log on to www.ameritrade.com and complete the online process, can deposit money into their new Ameritrade accounts by submitting a US driver's license Noun 1. driver's license - a license authorizing the bearer to drive a motor vehicle driver's licence, driving licence, driving license license, permit, licence - a legal document giving official permission to do something number and by using their personal checking account. Once the information is verified, funds are posted into the new online account. To address the integrity of account information sent over the Internet, Ameritrade utilizes a multi-level server system with encryption software Encryption software is software whose main task is encryption and decryption of data, usually in the form of files on hard drives and removable media, email messages, or in the form of packets sent over computer networks. for transaction security. Online Account Statements The launch of online account statements means customers have access to their monthly account information sooner. Online account statements have the same information as the versions currently mailed to customers. The only difference is that customers have direct access to their electronic statements, which can be available up to three to five business days earlier than those sent by mail. The new option also may make it easier for individuals to store account information. Through the new, electronic option, Ameritrade customers can access their statements through the Ameritrade website. They can save the information directly onto their computers to view and print whenever they want. Individuals can access past statements since June of 2000, making it easier in archiving and compiling com·pile tr.v. com·piled, com·pil·ing, com·piles 1. To gather into a single book. 2. To put together or compose from materials gathered from several sources: financial information to send to accountants, tax advisors A tax advisor is a financial expert especially trained in tax law. Some countries require tax advisors to verify the balance sheets of companies above a certain size. Individuals usually require tax advisors to minimize taxation, to avoid learning the details of tax law in and the Internal Revenue Service. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. McDonnell, the new offerings will help the company to continue as the industry's low-cost producer. "Ameritrade's ongoing technology investment allows us to offer enhanced services Enhanced service is service offered over commercial carrier transmission facilities used in interstate communications, that employs computer processing applications that act on the format, content, code, protocol, or similar aspects of the subscriber's transmitted information; while strengthening our operating leverage Operating Leverage A measurement of the degree to which a firm or project relies on fixed rather than variable costs. Notes: The higher the degree of operating leverage, the greater the potential danger from forecasting risk. . Features like Instant Account Opening and Online Account Statements will reduce the cost per account, and enhance our customers' investing experiences through faster, more efficient service." About Ameritrade Holding Corporation Ameritrade Holding Corporation (www.amtd.com) is a pioneer of the online brokerage industry with a 25-year history of providing a customer-focused approach to brokerage services. The Company provides brokerage and clearing services to self-directed individual consumer investors and to financial institutions through its subsidiaries. Ameritrade, Inc. is a leading online brokerage firm and received Money magazine's highest five-star rating for overall performance(a). Ameritrade, Inc. sits comfortably at the top of the Keynote keynote /key·note/ (ke´not) in homeopathy, the characteristic property of a drug that indicates its use in treating a similar symptom of disease. Consumer 40 Internet Performance Index(b), which tracks homepage loading speed. Other principal subsidiaries of Ameritrade Holding include: Accutrade, Inc. (www.accutrade.com), a brokerage delivering superior levels of personal service and support to its clients; AmeriVest, Inc. (www.amerivestinc.com), a provider of third-party brokerage services and other financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. to commercial banks, credit unions and thrift institutions Thrift institution An organization formed as a depository for primarily consumer savings. Savings and loan associations and savings banks are thrift institutions. ; FreeTrade.com, Inc. (www.freetrade.com), a licensed virtual broker that operates exclusively over the Internet and provides commission-free trades to the experienced individual investor; and Advanced Clearing, Inc. (www.advancedclearing.com), a securities clearing firm providing clearing services to each subsidiary as well as other financial institutions. (a) Best Online Brokers, June 2000 (b) March 19, 2000 - Present |
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