Answer Financial Adds Internet Banking From Telebank to Its Benefits Platform.
LOS ANGELES--(BUSINESS WIRE)--Sept.21, 1999--
Banking services from the nation's largest Internet bank -- Telebank -- have been added to the expanding menu of 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. available from the Insurance Answer Center (IAC (1) (InterApplication Communications) The interprocess communications capability in the Macintosh starting with System 7.0. Many IAC events take place behind the scenes. ) at www.answercenter.com.
IAC's parent, Answer Financial Inc. (AFI AFI American Film Institute
AFI Awaiting Further Instructions
AFI Armed Forces Insurance
AFI A Fire Inside (band)
AFI Air Force Instruction
AFI Australian Film Institute
AFI Agencia Federal de Investigación ), announced that its members who belong to employee and affinity groups have access to the preferential banking services free of charge as of Sept. 17, 1999.
IAC members will be offered preferred Telebank accounts that provide premium yields on savings, lower minimum deposits, free Internet checking and unlimited electronic bill payments, as well as the Telebank ATM Refunder(TM) Program.
"The Insurance Answer Center offers an ideal and secure platform for our Internet banking services at a volume that will allow us to offer preferred status to AFI's customers," said Mitchell H. Caplan, president and chief executive officer of Telebanc Financial Corp., holding company of Telebank.
"We are always seeking ways to provide better value for IAC members," noted Alan Snyder, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. and founder of Answer Financial Inc. "The Insurance Answer Center's mission is to provide consumers with information, choice and convenience. Telebank is a perfect match, offering these key elements via desktop, laptop or telephone."
IAC members can compare rates and coverage on life, auto and homeowners insurance, as well as annuities, and purchase these products from more than 80 top-rated companies via the Internet or phone. The company will add a new product to its offering every six weeks. In the past 12 weeks, it has added prepaid legal services legal services n. the work performed by a lawyer for a client. from three providers and home warranty A Home warranty is an insurance contract that covers the repair and replacement costs of home appliances. The warranty generally covers equipment and appliances such as dishwashers, plumbing systems, electrical systems etc. plans.
Telebank offers FDIC-insured interest checking, money market checking, savings and CD accounts. All Telebank accounts have paid yields in the top 1 percent nationally since 1989, and its money market accounts pay double the national average. Telebank is the only Internet bank to be ranked among the top 50 U.S. federally chartered savings banks savings bank, financial institution that, until recently, performed only the following functions: receiving savings deposits of individuals, investing them, and providing a modest return to its depositors in the form of interest. . Telebank has also received the highest safety rating from Veribanc Inc., the most widely quoted independent bank-rating service.
Founded in June 1997 by seasoned financial services executives, IAC and its affiliates are the licensed insurance agency subsidiaries of Answer Financial Inc., which provides auto, home, life insurance and annuity products from 80 insurance carriers as well as prepaid legal services from three providers. The IAC can be contacted over the Internet or by its toll-free phone service 24 hours a day, seven days per week.
Offered exclusively to employers and affinity groups, the service provides extensive and unbiased information, along with side-by-side quotes of competing insurance products. Insurance companies are selected by AFI based on product, independent third-party rating, customer service quality and technological capability.
Insurance companies do not pay to participate in the Insurance Answer Center, and the IAC does not accept incentives to advertise or promote a given product or carrier over another.
Telebank is a wholly owned subsidiary Wholly Owned Subsidiary
A subsidiary whose parent company owns 100% of its common stock.
In other words, the parent company owns the company outright and there are no minority owners. of Telebanc Financial Corp.(NASDAQ NASDAQ
in full National Association of Securities Dealers Automated Quotations
U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :TBFC TBFC Tony Buck Fan Club ), the nation's largest and fastest-growing Internet bank, providing high-value FDIC-insured financial products and services to customers in all 50 states through low-cost electronic delivery platforms, including the Internet, telephone, ATM and facsimile.
By eliminating the costs of branches, Telebank is able to offer significantly higher rates and lower fees than brick-and-mortar banks and deliver these services worldwide through the safety and convenience of the Internet. Telebank has nearly 80,000 customer accounts, more than $1.3 billion in deposits and over $2.6 billion in assets. Telebank can be accessed at www.telebank.com or 800/TELEBANK.