What makes a good on-line bank? Speed of service, for one thing. The site should load quickly and smoothly. Customer service should be exceptional. Operators should be standing by, literally. We are, after all, taking about your money here.
Other things to check:
- Does the bank offer insurance against on-line theft?
- In general, what type of security safeguards does the bank use?
- Does the bank charge a fee for online deposits and withdrawals?
- How soon after making a deposit are funds available?
- Is there an on-line account setup fee?
- What does the bank charge for ATM transactions?
- Can you download bank statement data into Quicken, MS Money or other software?
Having said that, here are our choices...an heir and a spare... for the best on-line banking sites for minorities and women.
1. Bank of America On-Line
In 2005, according to the Greenlining Institute, the bank made $24,288,800 in Small Business Administration (SBA) loans to African Americans (out of almost $177 million in total Bank of America SBA loans). While this is a pittance, it is more than most other banks lent to African Americans that year.
Forty one percent (41%) of Bank of America's employees are minority. Sixty percent (60%) are female.
2. American Express Bank FSB
American Express Bank FSB is a credit card bank. They claim to have made 2,578,159
For more information, see: http://www.minorityfinance.com/
http://www.minorityfinance.com/
