Provident Bank is offering retail customers access to ShareBuilder, the online service that lets clients invest in stocks automatically in regular, dollar-based amounts.
Retail investors using the ShareBuilder Internet site will be able to invest in more than 4000 stocks and 60 index securities on a weekly, monthly or one time schedule directly from their Provident chequeing or savings account.
The ShareBuilder account has no minimums, annual fees or inactivity fees. Purchases can made for $4 per recurring purchase of individual stocks or $12 per month for unlimited purchases of stock.
"For new investors, ShareBuilder eliminates financial barriers to entering the stock market," says Jim Sandul, online banking manager, Provident Bank. "With no minimums and low transaction fees, ShareBuilder is an ideal service that makes investing for the future available to everyone."
To promote the new service, the bank is offering each new client that opens an account before 30 April, 2002, a $25 credit to his/her account.