Bank Accounts

ONE GOOD thing about last winter's Allfirst Financial mess was that, despite the combustion of $691 million in bad currency bets, the bank's deposits were safe, backed up by Allfirst reserves and government insurance. Another good thing is that depositors worried anyway. When the Baltimore bank's adventures hit the papers in February, the first thing many customers asked was whether Allfirst would implode and whether they should hurry to claim their cash. Many people did hurry. This newspaper reported that tens of millions of dollars in refugee Allfirst greenbacks flowed into branches of Allfirst's competitors in February.

NEW YORK - When the new Nassau County, N.Y., treasurer took office in January, he was shocked to find that not only did Nassau have more than 100 separate bank accounts, but no one even knew how much money they contained. "Who's watching what the balances are? Who's making sure the money is in interest-bearing accounts?" Henry Dachowitz asked. The answer, he soon learned, was no one. Dachowitz's discovery highlights the breakdown in Nassau County of one of the most rudimentary functions of government: As it pays out $100 million on tax grievances every year and struggles with more than $2 billion in debt, this suburb of New York City has lost track of a significant amount of offsetting revenue that dribbles in in nickels and dimes.

After 53 years of fund raising for the Clarksville volunteer fire department, its Ladies Auxiliary has come to this: Members say the men in the department took control of their events, took over their bank account and chastised them for buying food baskets for the needy - even though fire officials later spent more than $300 on Orioles tickets. But the Ladies are fighting back: They're leaving. No more country breakfasts, no more craft shows, no more flea markets - at least not for the benefit of the Clarksville fire department.

Bank of America Corp. launched yesterday a service that allows customers to use cell phones and Palm hand-held computers to access their bank accounts and check stock quotes. The service currently is available only to Bank of America private banking clients - an industry phrase that applies to those with at least $1 million or more to invest - in Baltimore, Washington and Dallas and Fort Worth, Texas. "Private bank clients increasingly are on the move, and we need to facilitate that mobility by providing more convenient and technologically advanced ways to access our products and services," said Kathleen Gibson, Bank of America Private Bank region president.

His name is Z-Rex. He's 65 million years old, measures 25 feet tall and 40 feet long and is the largest male Tyrannosaurus rex fossilized skeleton ever unearthed. And, judging by past auctions, he can be yours for about $8 million. But you'd better act fast. The fossil, which went up for auction Monday on the Web site Millionaire.com, will be available for purchase only until 8 p.m. Feb. 10. Which means that if you want to be the first one on your block to have a real T. rex in your living room (and your dining room, and your kitchen, and your basement)

Ask your friends and co-workers if they know anyone who banks online, and the response you get may well be a blank stare. But maybe not for long.Consumers have been slow to click on to cyberbanking, yet the Internet may still live up to its promise as the new growth frontier for banks.Today, 3.3 million computer-savvy households do their banking through the Internet, paying bills and transferring money between accounts -- up from 2.5 million in 1998, according to a report issued in June by Forrester Research.

THE POOR pay more than the middle class for almost every financial service you can think of. They either lack access to banks, mistrust the banks they see or can't afford the minimum deposits. About 12 million households in the United States do without accounts.Instead, they patronize "fringe banks" such as check-cashing stores or lenders who advance small sums against future paychecks -- always for high fees. The poor also pay more for money orders, wire transfers abroad, even postage stamps.

A 47-year-old "identity thief" who authorities said developed an illicit talent for stealing mail and using it to gain access to people's credit and savings accounts was sentenced yesterday to 105 months in federal prison.Mark Gregory Young of Baltimore, described by prosecutors as a wily fraud artist who has been stealing people's identities for more than 25 years, stole more than 6,000 pieces of mail from North Baltimore mailboxes and postal trucks last year. At times, he dressed as a mailman to commit the thefts, prosecutors charged.

Rookie wide receiver Patrick Johnson could not stomach the thought of allowing a contract squabble to delay his arrival at his first training camp.Yesterday, nearly four weeks before Ravens rookies will report to camp, Johnson relieved his anxiety and fattened his wallet by signing a three-year, $1.65 million contract that includes a $675,000 signing bonus."

It used to be said that winning a major championship was worth $1 million to a player on the PGA Tour. Inflation has helped drive up the price over the years, and Tiger Woods pushed the overall market up some more with his victory last year in the Masters.But much has to do with the player who wins, and how much he is already doing in terms of endorsements, how often he is playing in the overseas tournaments with their lucrative appearance fees for certain American players and how many corporate outings he already has scheduled.