As the banking industry makes a major shift into online banking, a sea change is occurring: Internet-only banks are popping up everywhere in response to customer demand. Consumers who like to do most- to all of their banking online have new choices, as a result of these big changes in banking markets.

In looking over Internet banking deals, I recently came across one of these newer financial institutions. PerkStreet Financial promises to do business differently than traditional banks. The Boston-based bank’s website states that PerkStreet is designed for customers “who prefer to use their computers, ATMs, and phones–not branches” to do business.

To that end, PerkStreet is currently offering a cash bonus when you sign up for a checking account. You get $50 when you open a checking with at least $250, then use your debit card 25 times for non-PIN transactions. The deal is good through April 30, 2010, according to PerkStreet’s website. PerkStreet also says they boast “the nation’s largest surcharge-free ATM network.”

If you are going to use the term “perk” in your bank’s name, you better have some debit card rewards on hand. PerkStreet debit card holders receive a very simple rewards program; you can choose between coffee, music, or cash back. Although you pick your reward category when you sign up, the bank’s website says you can switch whenever you want to. Basically, spending $200 with your debit card will earn you a cup of coffee at affiliates like Starbucks or Dunkin Donuts, while throwing down $100 on your card gets you a song at iTurns, Amazon, or Rhapsody. The cash back option is actually redeemable in gift cards.

Here at BankShout, we are seeing more and more banks like PerkStreet come on the scene, as younger consumers in particular get frustrated with older banking business models and poor customer service interactions. Banking is changing, and quickly. If you would like to check out PerkStreet, visit their website here.