Comments on: Review Of E*Trade Bank High Interest Savings and Checking Accounts

By: Tiffani

Tiffani — Thu, 27 Aug 2009 15:23:14 +0000

I’m getting really competitive rates with a product called easyGROW Checking at First Bank & Trust. You can go to easyGROWchecking.com for the info (including the current interest rate); but to summarize, it is a free high-yield account that also offers ATM fee refunds when I meet the three qualifications: using my debit card at least ten times, receiving e-Statements, and having a least one direct deposit or automatic payment each cycle. I do all of those things anyway, so it’s been really easy for me to qualify…and they send me an email each month to let me know if I met the qualifications. I have to admit, I love not having to worry about whether or not an ATM is on my network, and the interest is already starting to add up. It only takes $100 deposit to open the account, and there is no minimum balance.

By: LAX

LAX — Tue, 04 Aug 2009 02:18:18 +0000

I have had eTrade for years and really like the ability to use it as my central cash portal. Being able to transfer funds to/from all my other bank accounts is convenient since I do occasionally chase a promotional interest rate. As someone mentioned above, they used to be competitive with internet banks for checking & savings rates, but not anymore.

Also, someone above incorrectly stated they don’t offer after-hours trading – in fact, they do. A supplemental on-line application is required that approves immediately and provides access to after-hours trading.

By: steve

steve — Tue, 30 Jun 2009 17:45:32 +0000

I’m happy you’ve had good experiences, but I have been frustrated by excessive eTrade fees and I finally closed my account. Guess what – I was charged an additional $10 to get a check! A wire transfer would have been more. Does any other brokerage charge you to close your account?

If you are an active trader, eTrade may be fine. If you prefer to make and hold investments, watch out for all the hidden eTrade fees. They’ll add up to more than $100 a year.

By: Pilm

Pilm — Wed, 24 Jun 2009 22:25:47 +0000

I’ve had E-Trade for several years now and agree they have a good setup for their brokerage and bank platforms. And for awhile their bank rates were quite competitive with high yield online banks, but that has changed now, so their rates are among the poorest around. But on the positive side, they allow me to transfer money to and from any of my other linked online accounts for free (I have almost a dozen links). And when I’m ready to toss money into the market, transfers from my E-trade bank to brokerage account are instant, so I can invest funds in the market from my bank account in a matter of minutes. They also have a good bond investment section. The one thing they do not have is after hour trading, which on occasion would be nice.

By: Raymond

Raymond — Fri, 01 May 2009 08:33:51 +0000

Amen to that Desman,

I love the convenience that all-in-one broker/banks like Etrade can offer. Being able to pull up a single online account and access your credit cards, bank checking, bank savings, CD deposits, and brokerage investments from a single source is a huge, huge plus in my book. The most aggressive of interest rate chasers will probably prefer to run multiple financial accounts to go after the best rate offers available, but the majority of us will probably be content with the convenience that one stop shopping provides.

By: Desman

Desman — Fri, 01 May 2009 08:00:51 +0000

Currently, I have an Ing Direct account (CDs and Savings), Scottrade (Stocks), Citi (Credit Card) and Chase (Checking and Savings). Now that I opened an ETrade account last month, I plan on canceling all other accounts because ETrade can do it all. Their credit card has the same no annual fee and rewards as my Citi credit card, the CD rates are comparable to ING Direct, commission is similar to Scottrade (plus I get 100 free) and the interest rates on the savings and checking accounts blow Chase out of the water. I’m happy to be able to logon to one website to keep track of all my financial information.

By: Chrissie

Chrissie — Sat, 25 Apr 2009 18:34:50 +0000

I like Etrade Bank so far…they have provided me decent service with a beautiful online banking and trading interface. I especially like using these one stop shopping all in one banks/brokers. I hate spreading my accounts over the place and like their integrated nature. E-Trade has a pretty great 100 trade commission free promotional offer going on right now with their IRA accounts. Thought you’d like the heads up

By: Junior

Junior — Sun, 11 Jan 2009 06:26:44 +0000

Had absolutely no idea E*trade was so diverse. Thanks for the heads up.