Allstate Opens Internet Bank

As part of its strategy to become a broad-based financial services provider, Northbrook, Ill.-based Allstate Corp. has opened Allstate Bank. The bank's FDIC-insured products and services include CDs, money market, savings and checking accounts, home mortgages and more. Consumers can obtain account and rate information and open bank accounts through Allstate agencies in California, as well as nationally on www.allstatebank.com and through a toll-free number. Bank customers have around-the-clock access to their accounts at more than 225,000 ATMs, where they can withdraw cash, obtain account balances and transfer funds. Deposits can be made at 15,000 participating ATMs. Allstate Bank will not charge ATM fees and will reimburse customers up to $5 per moth for ATM fees charged by other banks. Allstate formed a strategic alliance with Cendant Mortgage, a subsidiary of New York City-based Cendant Corp., to offer mortgages and refinancing services to its bank customers nationwide.