READING, Pa. - 1stwebbankdirect, the Internet-only subsidiary of Sovereign Bank, has entered a comarketing agreement with Multimedia Tutorial Services, Inc.
A link on Multimedia's Web sites will direct customers to 1stwebbankdirect and will provide Multimedia customers access to banking services. The bank will pay Multimedia account acquisition and annual royalty fees for new accounts, money market deposits, approved loans, credit lines, and mortgages generated from the relationship.
Multimedia, of Brooklyn, N.Y., provides electronic business customer support services and educational products.
Prospective 1stwebbankdirect customers will be able to receive a set of Multimedia's Math Made Easy or Reading Made Easy tutorials. The bank will pay Multimedia for each set of tutorial videos or CDs given to its customers.