MoneyAisle is a really cool tool that is still under a lot of people’s radar, despite the huge amount of press coverage it has received. MoneyAisle has been written about in the likes of The Wall Street Journal, The New York Times, CNN, and Money Magazine. Check out the news coverage here.

The service has been such a runaway success that MoneyAisle generated $100 Million in bank CD deposits in Quarter 4 last year!

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Azam are pleased to be working on behalf of the fantastic Steak Digital on the MoneyAisle affiliate program. MoneyAisle is a unique US banking auction site; it has patent pending technology.

How does MoneyAisle work?

MoneyAisle uses a real time online auction to enable Americans to find great rates on Bank CDs and High-Yield Savings accounts, for free. The banks actively bid against each other in live auctions, this enables the customer to get the best rate every time.

MoneyAisle’s exclusive technology enables consumers to find a great rate on their savings account for free. It is like a futuristic version of a comparison website. An auction model for a product like this is very innovative, but also very fitting in the tough economic times we are experiencing.

MoneyAisle has over 100 FDIC insured banks, pre-screened using independent VERIBANC® ratings, for the live auctions. Once the best rate has been achieved, the consumer can choose to accept their offer in order to take advantage of the great rate.

Video showing how MoneyAisle operates

Power to the consumer

The MoneyAisle auction model gives the power back to the consumer, to ensure that the banks are doing their best to provide the best deal they can. It works like a reverse auction. In a traditional auction the seller wins because buyers bid higher and higher until the product is sold. With the MoneyAisle auction the sellers (the banks) compete against each other to bring the price down.

MoneyAisle offers CD rates and High Yield Savings accounts. CDs provide an excellent low risk investment, something that we are all searching for in such gloomy financial times. With unemployment in the US at a 25 year high it would be wise to scrape together some savings into a deposit account.

Wouldn’t it be great if other products picked up this reverse auction model? Can you think of any other applications where a system like this could work? I personally think that a reverse auction system like this could be adapted to suit almost any market, do you agree?

Interested in becoming a MoneyAisle affiliate?

  • MoneyAisle is a US initiative and as such partners should have US traffic.
  • Commissions are paid out when a deposit is made.
  • Commission is paid based on the amount deposited and has been recently increased. Affiliates can earn up to $125.00 for Jumbo CDs. The average deposits from affiliate activity are $62,000 – that’s a $44.00 commission.
  • The program is on Commission Junction. Sign up here.

Publishers are given permission to use any of the MoneyAisle-made videos in MoneyAisle.com’s YouTube channel on quality, family-friendly websites. Copy is also available for publishers: contact louise.goldstein [at] steakdigital.co.uk for details.