E*TRADE Bank Earns Bankrate.com's Top Ranking for True.net Checking Account Industry Experts Confirm the Best Checking Deal Is Online

Apr 03, 2001, 01:00 ET from E*TRADE Group, Inc.

    ARLINGTON, Va., April 3 /PRNewswire/ -- E*TRADE Bank, a wholly-owned
 subsidiary of E*TRADE Group, Inc. (NYSE:   ET), and the nation's largest
 pure-play Internet bank, again earned top honors for its checking account
 in a nationwide survey just released by Bankrate.com, the Internet's leading
 consumer finance marketplace and flagship site of Bankrate Inc.
 (OTC Bulletin Board:   RATE). E*TRADE Bank first earned a number-one ranking in
 November 1999.
     E*TRADE Bank's True.net interest checking account outdistanced the
 nation's top one hundred brick-and-mortar banks to win a number-one ranking
 based on its combination of premium rates, low fees and high-value features.
 The award-winning account offers an annual percentage yield of 3.15 percent,
 along with free printed checks, free unlimited online bill payments, free
 Internet account access and no monthly fees, all for a low minimum balance of
 only $1,000. Bankrate.com's panel of industry experts compared E*TRADE Bank to
 the leading brick-and-mortar banks because of the Internet bank's ranking as
 the 18th largest federally-chartered savings bank nationwide.
     "E*TRADE Bank's True.net checking account is a clear winner among both
 industry experts and our value-conscious customers," said Arlen W. Gelbard,
 General Manager, E*TRADE Bank. "This survey makes clear that we've locked up
 the leadership position and continue to pull away from the competition by
 leveraging technology to create superior value for customers."
     In addition to premium rates and no-fee features for a minimum balance of
 $1,000, the account offers a free ATM/Debit card that gives customers
 unlimited ATM access to their funds. This includes both free cash withdrawals,
 through the E*TRADE Access Network of more than 10,000 ATMs nationwide, as
 well as access to the CIRRUS(R) national ATM network.
     Bankrate.com surveyed 1,246 accounts at the 353 largest financial
 institutions in the 35 largest U.S. markets. The rankings are based on a
 $1,500 monthly balance held in a checking account for one year, with an
 average of 12 transactions a month and one bounced check per year.
     Setting the pace as a leader in the banking industry, E*TRADE Bank created
 a branchless banking model in 1989, when it was known as TeleBank. Replacing
 brick-and-mortar branches with service through electronic delivery channels
 including the Internet, telephone, ATM and fax, E*TRADE Bank leverages
 technology to reduce operating costs and pass the savings back to consumers as
 premium rates with no or low fees, anytime/anywhere/any device access and
 superior customer service.
 
     About E*TRADE Bank
     E*TRADE Bank is a wholly-owned subsidiary of E*TRADE Group, Inc. Deposits
 at E*TRADE Bank are insured up to $100,000 by the FDIC. E*TRADE Bank is the
 nation's largest pure-play Internet bank, and is the only pure-play Internet
 bank to be ranked among the top 18 federally chartered U.S. savings banks
 based on both assets and deposits, as reported by FDIC data as of
 March 26, 2001. E*TRADE Bank had over $11.2 billion in assets, more than
 $5.8 billion in deposits and over 362,000 customer accounts as of
 December 31, 2000. E*TRADE Bank can be accessed at etradebank.com or
 800-ETBANK-1.
 
     About E*TRADE
     E*TRADE is a global leader in online personal financial services, offering
 value-added investing, banking and research features, premium customer service
 and a redundant, proprietary Stateless Architecture(R) infrastructure. In
 addition to the U.S., E*TRADE presently serves customers in Australia, Canada,
 Denmark, Korea, Japan, New Zealand, Norway, South Africa, Sweden, and the
 U.K., through branded web sites. E*TRADE Securities, Incorporated (Member
 NASD/SIPC), and its parent company, E*TRADE Group, Inc., have offices in
 Northern California and in other major business centers in the U.S. and
 worldwide.
 
     About Bankrate.com
     Bankrate.com is owned and operated by Bankrate Inc. Bankrate.com is
 the Internet's leading consumer finance marketplace, with an average of
 1.6 million unique visitors per month connecting with more than
 4,800 financial institutions in 157 markets in 50 states. Bankrate operates a
 portfolio of personal finance channels, including banking, investing, taxes
 and small-business finance. It is the leading aggregator of 100 financial
 products, including mortgages, credit cards, new and used auto loans, money
 market accounts and CDs, checking and ATM fees, home equity loans and online
 banking fees.
     Bankrate provides financial applications and information to a network of
 more than 130 partners including MSN, Yahoo, America Online, CNN and Smart
 Money. The company's information is also distributed through more than
 100 national and state publications.
 
     Important Notice:
     E*TRADE, E*TRADE Bank, Destination E*TRADE and Stateless Architecture
 are trademarks or registered trademarks of  E*TRADE Group, Inc. or its
 subsidiaries. The statements contained in this news release that are
 forward-looking are based on current expectations that are subject to a number
 of uncertainties and risks, and actual results may differ materially. The
 uncertainties and risks include, but are not limited to, changes in market
 activity, market acceptance of the Destination E*TRADE web site, anticipated
 increases in the rate of new customer acquisition, the conversion of new
 visitors to the site to customers, seasonality, the development of new
 products and services, the enhancement of existing products and services,
 competitive pressures (including price competition), system failures, economic
 and political conditions, changes in consumer behavior and the introduction of
 competing products having technological and/or other advantages. Further
 information about these risks and uncertainties can be found in the
 information included in the annual report filed by the company with the SEC on
 Form 10-K (including information under the caption "Risk Factors") and
 quarterly reports on Form 10-Q.
     E*TRADE Bank and E*TRADE Securities, Inc. are affiliated but separate
 companies. Investment products made available from E*TRADE Securities, Inc.
 are not insured by the FDIC, are not guaranteed deposits or obligation of
 E*TRADE Bank and are subject to investment risk, including loss of principal
 amount invested.
     System response and account access time may vary due to market conditions,
 trading volume, system performance and other factors.
 
     CONTACT:  Deborah Newman of E*TRADE Bank, 703-247-3702, or
 dnewman@etradebank.com.
 
 

SOURCE E*TRADE Group, Inc.
    ARLINGTON, Va., April 3 /PRNewswire/ -- E*TRADE Bank, a wholly-owned
 subsidiary of E*TRADE Group, Inc. (NYSE:   ET), and the nation's largest
 pure-play Internet bank, again earned top honors for its checking account
 in a nationwide survey just released by Bankrate.com, the Internet's leading
 consumer finance marketplace and flagship site of Bankrate Inc.
 (OTC Bulletin Board:   RATE). E*TRADE Bank first earned a number-one ranking in
 November 1999.
     E*TRADE Bank's True.net interest checking account outdistanced the
 nation's top one hundred brick-and-mortar banks to win a number-one ranking
 based on its combination of premium rates, low fees and high-value features.
 The award-winning account offers an annual percentage yield of 3.15 percent,
 along with free printed checks, free unlimited online bill payments, free
 Internet account access and no monthly fees, all for a low minimum balance of
 only $1,000. Bankrate.com's panel of industry experts compared E*TRADE Bank to
 the leading brick-and-mortar banks because of the Internet bank's ranking as
 the 18th largest federally-chartered savings bank nationwide.
     "E*TRADE Bank's True.net checking account is a clear winner among both
 industry experts and our value-conscious customers," said Arlen W. Gelbard,
 General Manager, E*TRADE Bank. "This survey makes clear that we've locked up
 the leadership position and continue to pull away from the competition by
 leveraging technology to create superior value for customers."
     In addition to premium rates and no-fee features for a minimum balance of
 $1,000, the account offers a free ATM/Debit card that gives customers
 unlimited ATM access to their funds. This includes both free cash withdrawals,
 through the E*TRADE Access Network of more than 10,000 ATMs nationwide, as
 well as access to the CIRRUS(R) national ATM network.
     Bankrate.com surveyed 1,246 accounts at the 353 largest financial
 institutions in the 35 largest U.S. markets. The rankings are based on a
 $1,500 monthly balance held in a checking account for one year, with an
 average of 12 transactions a month and one bounced check per year.
     Setting the pace as a leader in the banking industry, E*TRADE Bank created
 a branchless banking model in 1989, when it was known as TeleBank. Replacing
 brick-and-mortar branches with service through electronic delivery channels
 including the Internet, telephone, ATM and fax, E*TRADE Bank leverages
 technology to reduce operating costs and pass the savings back to consumers as
 premium rates with no or low fees, anytime/anywhere/any device access and
 superior customer service.
 
     About E*TRADE Bank
     E*TRADE Bank is a wholly-owned subsidiary of E*TRADE Group, Inc. Deposits
 at E*TRADE Bank are insured up to $100,000 by the FDIC. E*TRADE Bank is the
 nation's largest pure-play Internet bank, and is the only pure-play Internet
 bank to be ranked among the top 18 federally chartered U.S. savings banks
 based on both assets and deposits, as reported by FDIC data as of
 March 26, 2001. E*TRADE Bank had over $11.2 billion in assets, more than
 $5.8 billion in deposits and over 362,000 customer accounts as of
 December 31, 2000. E*TRADE Bank can be accessed at etradebank.com or
 800-ETBANK-1.
 
     About E*TRADE
     E*TRADE is a global leader in online personal financial services, offering
 value-added investing, banking and research features, premium customer service
 and a redundant, proprietary Stateless Architecture(R) infrastructure. In
 addition to the U.S., E*TRADE presently serves customers in Australia, Canada,
 Denmark, Korea, Japan, New Zealand, Norway, South Africa, Sweden, and the
 U.K., through branded web sites. E*TRADE Securities, Incorporated (Member
 NASD/SIPC), and its parent company, E*TRADE Group, Inc., have offices in
 Northern California and in other major business centers in the U.S. and
 worldwide.
 
     About Bankrate.com
     Bankrate.com is owned and operated by Bankrate Inc. Bankrate.com is
 the Internet's leading consumer finance marketplace, with an average of
 1.6 million unique visitors per month connecting with more than
 4,800 financial institutions in 157 markets in 50 states. Bankrate operates a
 portfolio of personal finance channels, including banking, investing, taxes
 and small-business finance. It is the leading aggregator of 100 financial
 products, including mortgages, credit cards, new and used auto loans, money
 market accounts and CDs, checking and ATM fees, home equity loans and online
 banking fees.
     Bankrate provides financial applications and information to a network of
 more than 130 partners including MSN, Yahoo, America Online, CNN and Smart
 Money. The company's information is also distributed through more than
 100 national and state publications.
 
     Important Notice:
     E*TRADE, E*TRADE Bank, Destination E*TRADE and Stateless Architecture
 are trademarks or registered trademarks of  E*TRADE Group, Inc. or its
 subsidiaries. The statements contained in this news release that are
 forward-looking are based on current expectations that are subject to a number
 of uncertainties and risks, and actual results may differ materially. The
 uncertainties and risks include, but are not limited to, changes in market
 activity, market acceptance of the Destination E*TRADE web site, anticipated
 increases in the rate of new customer acquisition, the conversion of new
 visitors to the site to customers, seasonality, the development of new
 products and services, the enhancement of existing products and services,
 competitive pressures (including price competition), system failures, economic
 and political conditions, changes in consumer behavior and the introduction of
 competing products having technological and/or other advantages. Further
 information about these risks and uncertainties can be found in the
 information included in the annual report filed by the company with the SEC on
 Form 10-K (including information under the caption "Risk Factors") and
 quarterly reports on Form 10-Q.
     E*TRADE Bank and E*TRADE Securities, Inc. are affiliated but separate
 companies. Investment products made available from E*TRADE Securities, Inc.
 are not insured by the FDIC, are not guaranteed deposits or obligation of
 E*TRADE Bank and are subject to investment risk, including loss of principal
 amount invested.
     System response and account access time may vary due to market conditions,
 trading volume, system performance and other factors.
 
     CONTACT:  Deborah Newman of E*TRADE Bank, 703-247-3702, or
 dnewman@etradebank.com.
 
 SOURCE  E*TRADE Group, Inc.