MetLife Bank offers high yield savings account, certificates of deposit, and money markets. MetLife Bank is a subsidiary of MetLife, Inc, a company best known for their insurance products (annuities, car insurance, homeowners insurance, etc.). The bank has more than 100,000 customers and is one of the top 150 commercial banks in the United States, with more than $4.5 billion in customer deposits (as of 10/1/07).
Accouts can be opened online or via phone. If you use the online application, the account can be funded via an ACH transaction (eletronic transfer). To confirm your identify a signature card will be sent that you need to fill out and mail back along with your signarure but the account can be opened and used before this is done. I was also told by a customer service rep that they do a soft pull on your credit to make sure there is no fraud. Presumably this will not impact your credit score.
Bauer Financial gives MetLife Bank a rating of 3 1/2 stars out of 5 (good) for safety and soundness.
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