E*TRADE
E*TRADE, an on-line investing service, has announced an alliance with National Processing Company (NPC) to use NPC's VirtualPAY Internet funds transfer system.
The E*TRADE/VirtualPAY alliance allows customers to use their checking accounts to move funds into their on-line trading accounts and avoid mailing a check or using wire transfer. VirtualPAY is free to E*TRADE customers.
NPC's VirtualPAY is a funds transfer system developed specifically for consumers to use their personal checking accounts safely and securely on the Net.
NPC is an automated clearing house wired in with the nation's commercial banking system on the national electronic clearing network. VirtualPAY confirms the transfer request instantly and initiates the interaction with the commercial banking system to electronically debit the money from the checking account and deposit it to the appropriate E*TRADE account.
For more information contact E*TRADE on the Web at http://www.etrade.com.
