BestCashCow.com Unveils Web’s Most Extensive and Interactive Source of U.S. Bank and Bank Rate Data

New York, NY (I-Newswire) March 2, 2011 - BestCashCow.com today unveiled its new site, which gives consumers the most comprehensive source of consumer bank information and bank data on the Web. The site now tracks over 7,000 FDIC-insured banks, 7,000 credit unions, 130,000 local branches, and over 2,000,000 local and national savings account rates, CD rates, mortgage rates and home equity loan rates. With the new site, the company also introduced location-based features integrated with Google Maps that show users all of the financial institutions in every zip code across the United States. By combining these local features with the site’s rate information, consumers can analyze local and national online banks to quickly find the most convenient place to establish a banking relationship, and identify where they can earn the highest rates of return without increasing risk.

Helping Consumers Easily Put $30 Billion Per Year into Their Pockets
According to the FDIC’s latest Statistics on Depository Institutions report, U.S. commercial banks currently possess over $6.2 trillion in total time and savings deposits – much of which is held in low yield accounts. Without the resources to quickly search comprehensive bank rates, the majority of U.S. consumers are not maximizing what they can earn on their cash. If these same consumers collectively earned a mere .5 percent better rate – 50 basis points more – they could see up to $30 billion in additional savings deposited directly into their wallets each year.

“While online banking continues to grow and to be an important development in the consumer banking sector, many consumers still prefer to do banking face-to-face,” said Ari Socolow, Co-Founder and Editor-in-Chief of BestCashCow.com. “By offering the most national online and local rates and never before seen local data in one single, easy-to-use resource, BestCashCow.com provides consumers the best of both options.” Added Sol Nasisi, Co-founder and Chief Economist: “We’re confident that almost everyone who comes to the site will find an easy way to save or earn more without sacrificing the safety and security of their money. While bank rates are at historically low levels, BestCashCow helps make the best of a low rate environment."

Helping Consumers Understand Who They Are Banking With
While every bank on the site is FDIC insured and almost all credit unions are NCUA insured, BestCashCow.com also offers tools to help consumers understand who they might be banking with. Data includes the financial institution’s assets, history, branch footprint, Texas ratio, return on equity and capitalization. “Information is exploding online and we believe consumers also want to know and understand more about the institutions that they entrust with their hard-earned money,” added Mr. Nasisi.

Helping Banks Reach Consumers
BestCashCow.com will soon also give financial institutions a platform to directly engage and interact with their customers. Banks can log on to update their rate information, test different marketing offers, provide detailed national and local profiles and interact with current and prospective customers more often and more effectively.

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About BestCashCow.com:
BestCashCow is the most comprehensive source of consumer bank information and bank data on the Internet. The website now tracks over 7,000 FDIC-insured banks, 7,000 credit unions, 130,000 local branches, and over 2,000,000 local and national savings account rates, CD rates, mortgage rates and home equity loan rates.

Company Contact Information
BestCashCow.com
Ted Rossman
Phone : 212-255-0080 x13