GMAC Bank partners Ameritrade for online brokerage

GMAC Bank partners Ameritrade for online brokerage

US-based GMAC Bank has teamed up with Ameritrade to provide customers and employees with access to a suite of online brokerage services.

The two companies have launched an exclusive Ameritrade/GMAC Bank co-branded Web site from which users will have the opportunity to purchase stocks and mutual funds through the Ameritrade Brokerage trading platform. Visitors to the site will be able to access real-time account information and advanced subscription services such as streaming quotes, and analytical tools for screening and charting.

The partnership is the first for GMAC Bank, the financial services subsidiary of General Motors, which opened in August. GMAC Bank offers a core set of FDIC-insured deposit products and plans to augment its existing product mix with other traditional banking services and offerings from select "best in class" third-party financial services providers, such as Ameritrade.

"This is a strategic alliance that combines Ameritrade's strong branded brokerage and technological investment infrastructure with GM and GMAC's marketing power and large affinity base - it's win-win for both companies," says Jeff Johnson, president/CEO of GMAC Bank

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