Banking
Rates and Fees
| Bank Yields | Premium Savings Account | Max-Rate Checking | Checking |
|---|---|---|---|
| Annual percentage yield (APY)1 | 3.50% ($500,000+) |
0.05% ($50,000+) |
0%—Checking is a non-interest-bearing account |
| Minimum monthly balance | No account minimums are required to maintain this account | An average monthly balance of $5,000 is required to avoid a fee. Please see the monthly fees section below to learn how to waive this fee. | No account minimums are required to maintain this account |
| Monthly fees | No monthly account fees | $15 if your minimum account balance is not met You can avoid the monthly fee by meeting any of the following minimums:
|
No monthly account fees |
| Minimum opening deposit | $02 |
$02 |
$02 |
| FDIC Insurance | At least $500,000 |
At least $250,000 |
At least $250,000 |
2. Account must be funded within 30 days to remain open.
Earn competitive interest rates with low account fees
Rate information
Please visit our bank rates sheet for information regarding interest rate tiers, current interest rates, and corresponding annual percentage yield (APY). Your interest rate and APY may change at any time.
Compounding and crediting frequency
Interest is compounded daily. Interest will compound from the date of deposit to the last full day before the date of withdrawal. Interest will be credited to your account on a monthly basis. If you close your account before interest is credited, you will receive the accrued interest through the last full day prior to the account closure.
Minimum initial deposit
No minimum initial deposit is required to open this account. However, account must be funded within 30 days to remain open.
Minimum balance
No minimums balance is required to avoid monthly account fees.
Fees1
Bank check request
$15 for each
Competitive yields
Except for fixed-rate certificates of deposit, which earn the same interest rate through maturity, the interest rate and annual percentage yield (APY) on deposits can change as often as daily, at our discretion, without prior notice to you. Information on current interest rates and APYs can be found by visiting etrade.com/ratesheet. The interest rate and the corresponding APY for all individual or trust deposits more than $10,000,000 and all commercial deposits more than $99,000 are subject to negotiation by the parties.
Calculation method
We use the daily balance method to calculate interest on accounts. This method applies a daily periodic rate to the principal in the account each day. Interest begins to accrue no later than the business day we receive credit for the deposit of non-cash items (for example, checks).
If a minimum average balance is required to avoid a fee, the average balance is calculated by adding the principal in the account for each day of the period, and dividing that figure by the number of days in that period.
Tiered-rate accounts
On tiered-rate accounts, we apply the interest rate for the balance tier of your end-of-day balance against the entire balance of your account. Different rates may apply to different tiers.
This schedule will assist you in comparing the terms of our deposit products. They are part of our Account Agreement with you.
A Max-Rate Checking Account lets you do more with less
Rate information:
Your interest rate and annual percentage yield (APY) may change at any time. Please visit etrade.com/ratesheet for information regarding interest rate tiers, current interest rates, and corresponding APYs.
Compounding and crediting frequency
Interest is compounded daily. Interest will compound from the date of deposit to the last full day before the date of withdrawal. Interest will be credited to your account on a monthly basis. If you close your account before interest is credited, you will receive the accrued interest through the last full day prior to the account closure.
Minimum initial deposit
No minimum initial deposit is required to open this account. However, account must be funded within 30 days to remain open.
The monthly fee set forth below is waived for customers who meet at least one of the following minimums: 1) set up a direct deposit* of $200 or more per month to the account, or 2) maintain an average monthly balance of at least $5,000 in the account on or after the end of the second statement cycle, or 3) maintain an average monthly balance of at least $50,000 in linked Morgan Stanley Private Bank accounts on or after the end of the second statement cycle, or 4) have a combined balance of $50,000 or more in linked E*TRADE Securities and employee stock plan accounts (including vested in-the-money options, stock option plan shares, ESPP shares, and released restricted stock) on the date the monthly fee is charged, or 5) have executed at least 30 stock or options trades during the prior calendar quarter in linked E*TRADE Securities accounts.
* Direct Deposit is a deposit initiated by an institution other than E*TRADE which is processed via Automated Clearing House (“ACH”). The most common forms of Direct Deposit are Paychecks, Pension Checks and Social Security Checks
Fees
$15 monthly fee |
Monthly fee may be waived if certain conditions are met |
| $0 for each | Coverdraft Protection transfer |
| $0 for each | Bank check request |
| $0 | For each standard check reorder |
| $0 early close out fee | Will be assessed if the account is closed out within the first 120 days |
| $0 stop payment fee | Stop payment request for an issued check |
See Additional Services and click on “See complete rate and fee schedule” for other fees that may apply.
We keep service fees low
Check reorder (standard quantity) |
$8.75 per reorder for Independent Checking, $8.25 for the Money Market account (fee waived for Checking and Max Rate accounts) |
| Bank Check Request | $15 per item (fee waived for Checking and Max Rate accounts) |
| Loan payments by Check | $10 per item |
| Loan check payment returned for insufficient funds | $25 per item |
Check returned for non-sufficient funds |
$25 per item (fee waived for Checking and Max Rate accounts) |
Coverdraft Protection |
$5 per transfer (fee waived for Checking and Max Rate accounts) To enroll account, call us at 800-387-2331 |
Digital Security ID |
$25 per device Waived for customers who maintain a combined balance of $50,000 or more in linked E*TRADE Securities, Morgan Stanley Private Bank, and employee stock plan accounts (including vested in-the-money options, stock option plan shares, ESPP shares, and released restricted stock); or who execute at least 30 stock or options trades during a calendar quarter in their E*TRADE Securities account. |
| Minimum balance fee | Independent Checking: $10 (Not available for new account opening) To avoid the monthly fee, the account holder must 1) maintain an average monthly balance of $1,000 or more on or after the end of the second statement cycle, or 2) maintain an average monthly balance of at least $1,000 in linked Morgan Stanley Private Bank accounts on or after the end of the second statement cycle, or 3) have a combined balance of $50,000 or more in linked E*TRADE Securities and employee stock plan accounts (including vested in-the-money options, stock option plan shares, ESPP shares, and released restricted stock) on the date the monthly fee is charged, or 4) have executed at least 30 stock or options trades during the prior calendar quarter in linked E*TRADE Securities accounts.
Money Market: $10 (Not available for new account opening) To avoid the monthly fee, the account holder must 1) maintain an average monthly balance of $1,000 or more on or after the end of the second statement cycle, or 2) maintain an average monthly balance of at least $1,000 in linked Morgan Stanley Private Bank accounts on or after the end of the second statement cycle, or 3) have a combined balance of $50,000 or more in linked E*TRADE Securities and employee stock plan accounts (including vested in-the-money options, stock option plan shares, ESPP shares, and released restricted stock) on the date the monthly fee is charged, or 4) have executed at least 30 stock or options trades during the prior calendar quarter in linked E*TRADE Securities accounts.
Max-Rate Checking: $15 To avoid the monthly fee, the account holder must 1) set up a direct deposit of $200 or more per month to the account, or 2) maintain an average monthly balance of at least $5,000 in the account on or after the end of the second statement cycle, or 3) maintain an average monthly balance of at least $50,000 in linked Morgan Stanley Private Bank accounts on or after the end of the second statement cycle, or 4) have a combined balance of $50,000 or more in linked E*TRADE Securities and employee stock plan accounts (including vested in-the-money options, stock option plan shares, ESPP shares, and released restricted stock) on the date the monthly fee is charged, or 5) have executed at least 30 stock or options trades during the prior calendar quarter in linked E*TRADE Securities accounts |
| Wire transfers | $0 per incoming wire $25 per outgoing wire if done online (fee waived for Checking and Max Rate accounts) $25 per outgoing wire if done by telephone (domestic or international) |
Premium Savings Account
| Daily Balance | Interest Rate | Annual Percentage Yield1 |
|---|---|---|
| $0 to $4,999.99 | 3.44% | 3.50% |
| $5,000 to $49,999.99 | 3.44% | 3.50% |
| $50,000 to $99,999.99 | 3.44% | 3.50% |
| $100,000 to $499,999.99 | 3.44% | 3.50% |
| $500,000+ | 3.44% | 3.50% |
(no minimum monthly account fees, yields subject to change daily, withdrawal limits apply, $0 deposit to open)2
Checking Account
| Daily Balance | Interest Rate | Annual Percentage Yield1 |
|---|---|---|
| $0+ | 0.00% | 0.00% |
(non-interest-bearing account, no minimum balance required, IRA not available, $0 deposit to open)2
Max-Rate Checking Account
| Daily Balance | Interest Rate | Annual Percentage Yield1 |
|---|---|---|
| $0 to $4,999.99 | 0.05% | 0.05% |
| $5,000 to $49,999.99 | 0.05% | 0.05% |
| $50,000+ | 0.05% | 0.05% |
($5,000 minimum balance,3 yields subject to change daily, IRA not available, $0 deposit to open)2
Money Market Account (no longer available to new accounts4)
| Daily Balance | Interest Rate | Annual Percentage Yield1 |
|---|---|---|
| $0 to $4,999.99 | 0.01% | 0.01% |
| $5,000 to $49,999.99 | 0.01% | 0.01% |
| $50,000 to $99,999.99 | 0.01% | 0.01% |
| $100,000+ | 0.01% | 0.01% |
($1,000 minimum balance,5 yields subject to change daily)
Complete Savings Account (no longer available to new accounts4)
| Daily Balance | Interest Rate | Annual Percentage Yield1 |
|---|---|---|
| $0+ | 0.01% | 0.01% |
(no minimum balance, no minimum monthly account fees, yields subject to change daily, withdrawal limits apply)
Independent Checking (no longer available to new accounts4)
| Daily Balance | Interest Rate | Annual Percentage Yield1 |
|---|---|---|
| $0+ | 0.01% | 0.01% |
($1,000 minimum balance5, yields subject to change daily)
Daily Compounding: Deposits insured to at least $250,000 by the FDIC
1. As of . Rates are subject to change daily and fees may reduce earnings.
2. Account must be funded within 30 days to remain open.
3. To avoid a $15 monthly fee, the account holder must 1) set up a direct deposit of $200 or more per month to the account, or 2) maintain an average monthly balance of at least $5,000 in the account on or after the end of the second statement cycle, or 3) maintain an average monthly balance of at least $50,000 in linked Morgan Stanley Private Bank accounts on or after the end of the second statement cycle, or 4) have a combined balance of $50,000 or more in linked E*TRADE Securities and employee stock plan accounts (including vested in-the-money options, stock option plan shares, ESPP shares, and released restricted stock) on the date the monthly fee is charged, or 5) have executed at least 30 stock or options trades during the prior calendar quarter in linked E*TRADE Securities accounts.
4. Not available for new account opening.
5. To avoid a $10 monthly fee, the account holder must 1) maintain an average monthly balance of $1,000 or more on or after the end of the second statement cycle, or 2) maintain an average monthly balance of at least $1,000 in linked Morgan Stanley Private Bank accounts on or after the end of the second statement cycle, or 3) have a combined balance of $50,000 or more in linked E*TRADE Securities and employee stock plan accounts (including vested in-the-money options, stock option plan shares, ESPP shares, and released restricted stock) on the date the monthly fee is charged, or 4) have executed at least 30 stock or options trades during the prior calendar quarter in linked E*TRADE Securities accounts.