provider of Internet banking services to members of the Sam's Club division of Wal-Mart Stores Inc. of Bentonville, Ark.
Holders of Sam's Club's new Elite Membership Card will be eligible for Telebank's services.
For an annual fee of $100, cardholders also get discounts on long-distance rates, home improvement, roadside assistance, insurance, auto-buying, and pharmacy services through a host of other partnerships.
Sam's Club will promote Telebank through direct mail and kits that will be made available in stores, a Telebank spokeswoman said.
The branchless bank will send promotional e-mails to Sam's Club members. No link will be established from Sam's Club's Web site to Telebank's.
Telebank intends to offer discounted financial services to people who buy products or services through Sam's Club, the spokeswoman said.
For example, it might waive automated teller machine fees for one year for people who open an account with the bank and sign up for an Internet service provider through Sam's Club.