E*TRADE from Morgan Stanley Brokerage Account ATM Refund Policy

No ATM fees - anywhere nationwide via unlimited ATM fee refunds

Neither E*TRADE from Morgan Stanley or Morgan Stanley Private Bank will charge you a fee for withdrawing funds from any institution's ATM, but the owner/operator of the ATM may charge a fee. You may be eligible for a refund.

E*TRADE/Morgan Stanley Private Bank will refund the amount of the owner/operator's fee by the end of the same day that the withdrawal occurred to your eligible account if certain criteria is met:

• Brokerage accounts are eligible for five ATM refunds per month. Qualified customers with a Morgan Stanley Private Bank Account(s) and $50,000 or more in combined E*TRADE from Morgan Stanley account(s) and employee stock plan accounts (including vested in-the-money options, stock option plan shares, ESPP shares, and released restricted stock) as of the day prior to the date the ATM fee is charged or who execute at least 30 stock or option trades during the prior calendar quarter in their linked E*TRADE from Morgan Stanley account(s) will receive unlimited ATM refunds.
• For bank accounts, please visit http://etrade.com/rateandfee for additional information and important details about eligibility and how the ATM fee refund will be applied.

Two transactions will appear on your statement. There will be a transaction for the total withdrawal (ATM fee plus withdrawal amount) and a second transaction for the refund of the ATM fee. Note that the online transaction history and the new available balance may not appear updated until the following morning.

In the event E*TRADE/Morgan Stanley Private Bank in its sole discretion determines that there has been either fraudulent or excessive use of the feature on a given account, E*TRADE/Morgan Stanley Private Bank reserves the right to remove this feature and not refund the ATM fees.