Thursday, September 17, 2009

MoneyAisle Auction

We've got an announcement for everyone today concerning a change in a MoneyAisle policy. This will not affect how users are able to use MoneyAisle to find rates on CDs or High-Yield Savings accounts, but in the interest of full transparency we wanted to announce it to all of you.

Beginning soon, MoneyAisle is going to host some advertisements on our site. When we initially launched, we told all of you that MoneyAisle was completely ad-free. Please be aware that our change in this matter will not affect the rates you see when you run a MoneyAisle reverse auction and will not affect which banks win an auction. We are committed as strongly as ever to fair competition, and to getting our customers the best rates possible in the MoneyAisle network.

So what does this mean for you, the MoneyAisle consumer? Because we're allowing banks to add some messaging, you'll be aware of some deals or promotions they may be running if you open an account with them - higher APYs for multiple accounts, bonuses for opening checking accounts - that sort of thing. Again, none of this will affect the rate you see at the auction end or how our innovative reverse auction process works. We believe as firmly as when we launched that when banks compete with each other in live competition, the consumer ultimately wins.

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