MENLO PARK, Calif. - E-Trade Bank has introduced an Internet banking service for Oracle Corp. employees.
Oracle, a Redwood Shores, Calif., provider of database and Internet software, is offering its employees customized banking products on a Web site cobranded with E-Trade, which was seeking a low-cost customer acquisition channel.
Employees are offered bonus rates, lower minimum balance requirements, and connections to etrade.com, where they can access integrated banking and brokerage accounts. The companies hope eventually to make the site a venue for managing a suite of financial products and services.
E-Trade has also installed at Oracle's headquarters an automated teller machine that accepts deposits and carries no withdrawal fees.