Morgan Stanley Private Bank, National Association Rate and Fee Schedule
Important: Effective on or about, October 31, 2023, changes will be made to this Rate & Fee Schedule. View the upcoming enhancements.
Rates
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 over $10,000,000 and all commercial deposits over $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 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.
Coverdraft Protection: Coverdraft Protection is available for checking accounts and money market accounts. You must affirmatively enroll an eligible account to receive coverage. If you overdraw your eligible account, we may use our Coverdraft protection service to transfer funds from another one of your bank accounts (where the accounts are held by the same parties and are under the same primary taxpayer identification number) to cover the overdraft. Transfers are at our sole discretion and may be made in $100 increments. A fee may be assessed to your eligible account for each transfer, as noted below. Coverdraft protection does not involve the lending of funds, but rather transfers of available funds between your accounts.
Premium Savings Account
Rate Information: Your interest rate and APY may change at any time. Please visit etrade.com/ratesheet for information regarding this account's 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: There is no minimum initial deposit required to open an account. However, your account must be funded within 30 days to remain open.
Minimum Balance: There is no minimum balance requirement.
Online Statements: Premium Savings Account requires that all account statements be delivered electronically. Account statements will be delivered online instead of via mail.
Transaction Limitations: Withdrawal limits apply. Account holders are allowed up to six withdrawals or transfers (for example, using Transfer Money) from their account in any calendar month. Inbound Transfer Money Transactions are not subject to any limits. If transaction limitations are exceeded, we may close the account, or convert it to a Checking account or remove the account's transfer and draft capacity. Funds may be transferred to another Bank account by written request signed by the account holder(s), by telephone request through Bank personnel, over the Internet, or by electronic funds transfer, if you subscribe to such services. See your Account Agreement for additional details.
Fees:
- $15 fee for each Bank Check request in excess of one per calendar month
- See "Additional Fees Applicable To All Bank Accounts" for other fees that may apply
Complete Savings Account
(Not available for new account opening)
Rate Information: Your interest rate and APY may change at any time. Please visit etrade.com/ratesheet for information regarding this account's 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 Balance: There is no minimum balance requirement.
Online Statements: Complete Savings Account requires that all account statements for this and any other Morgan Stanley Private Bank, National Association account (as applicable) be delivered electronically. Account statements will be delivered online instead of via mail.
Transaction Limitations: Withdrawal limits apply. Account holders are allowed up to six withdrawals or transfers (for example, using Transfer Money) from their account in any calendar month. Inbound Transfer Money are not subject to any limits. If transaction limitations are exceeded, we may close the account or convert it to a Checking account or remove the account's transfer and draft capacity. Funds may be transferred to another Bank account by written request signed by the account holder(s), by telephone request through Bank personnel, over the Internet, or by electronic fund transfer, if you subscribe to such services. See your Account Agreement for additional details.
Fees:
- $15 fee for each Bank check request in excess of one per calendar month
- See "Additional Fees Applicable To All Bank Accounts" for other fees that may apply
Independent Checking Account
(Not available for new account opening)
Rate Information: Your interest rate and 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 Balance: To avoid the monthly fee set forth below, 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, National Association 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 from Morgan Stanley accounts (held at Morgan Stanley Smith Barney LLC), 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 from Morgan Stanley accounts.
Fees:
- $10 monthly fee if the minimum balance requirement is not met
- $5 for each Coverdraft Protection transfer
- $10 for each Bank Check request
- $8.75 for each standard check reorder, waived for customers who maintain an average monthly balance of $50,000 or more in linked Morgan Stanley Private Bank, National Association accounts, or a combined balance of $50,000 or more in linked E*TRADE from Morgan Stanley accounts (held at Morgan Stanley Smith Barney LLC), 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 fee is charged; or who execute at least 30 stock or options trades during the prior calendar quarter in their linked E*TRADE from Morgan Stanley accounts
- See "Additional Fees Applicable To All Bank Accounts" for other fees that may apply
Additional Features:
- Unlimited debit card and check transactions
- Unlimited domestic ATM fee refunds if the customer maintains an average monthly balance of $5,000 or more in the account by the second statement cycle. This fee is also waived for customers who maintain an average monthly balance of $50,000 or more in Morgan Stanley Private Bank, National Association accounts, or a combined balance of $50,000 or more in linked E*TRADE from Morgan Stanley accounts (held at Morgan Stanley Smith Barney LLC), 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 fee is charged; or who execute at least 30 stock or options trades during the prior calendar quarter in their linked E*TRADE from Morgan Stanley accounts.
- Unlimited online bill pay
- Free initial checkbook
Checking Account
Rate Information: This is a non-interest-bearing account.
Minimum Initial Deposit: There is no minimum deposit required to open an account. However, your account must be funded within 30 days to remain open.
Minimum Balance: No minimum balance is required to maintain this account.
Fees:
- See "Additional Fees Applicable To All Bank Accounts" for other fees that may apply
Additional Features:
- Unlimited debit card and check transactions
- Unlimited online bill pay
- Free initial checkbook
Max-Rate Checking Account
Rate Information: Your interest rate and 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: There is no minimum deposit required to open an account. However, your account must be funded within 30 days to remain open.
Minimum Balance: To avoid the monthly fee set forth below, the account holder must 1) set up a direct deposit* of $200 or more per month to the account (a combination of direct deposits totaling $200 does not satisfy this requirement), 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, National Association 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 from Morgan Stanley accounts (held at Morgan Stanley Smith Barney LLC), 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 from Morgan Stanley accounts.
*Direct Deposit is a deposit initiated by an institution other than Morgan Stanley 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 if the minimum balance requirement is not met
- See "Additional Fees Applicable To All Bank Accounts" for other fees that may apply
Additional Features:
- Unlimited domestic ATM fee refunds, regardless of account balance
- Unlimited online bill pay
- Unlimited debit card and check transactions
- Free checkbook orders
Money Market Account
(Not available for new account opening)
Rate Information: Your interest rate and APY may change at any time. Please visit etrade.com/ratesheet for information regarding this account's 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 Balance: To avoid the monthly fee set forth below, 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, National Association 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 from Morgan Stanley accounts (held at Morgan Stanley Smith Barney LLC), 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 from Morgan Stanley accounts.
Transaction Limitations: Withdrawal limits apply. Account holders are allowed six withdrawals or transfers from this account in any calendar month (ATM withdrawals excluded). Checks are considered transacted by the date the check clears, not by the written date. If transaction limitations are exceeded, we may close the account or convert it to a Checking account or remove the account's transfer and draft capacity. Funds may be transferred to another Bank account by written request signed by the account holder(s), by telephone request through Bank personnel, over the Internet or by electronic fund transfer, if you subscribe to such services. See your Account Agreement for additional details.
Fees:
- $10 monthly fee if the minimum balance requirement is not met
- $5 for each Coverdraft Protection transfer
- $8.25 for each standard check reorder, waived for customers who maintain an average monthly balance of $50,000 or more in linked Morgan Stanley Private Bank, National Association accounts, or a combined balance of $50,000 or more in linked E*TRADE from Morgan Stanley accounts (held at Morgan Stanley Smith Barney LLC), 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 fee is charged; or who execute at least 30 stock or options trades during the prior calendar quarter in their linked E*TRADE from Morgan Stanley accounts
- $15 fee for each Bank Check request in excess of one per calendar month
- See "Additional Fees Applicable To All Bank Accounts" for other fees that may apply
Additional Features:
- Unlimited ATM access
- Free initial checkbook
- Unlimited ATM fee refunds if the customer maintains an average monthly balance of $5,000 or more in the account by the end of the second statement cycle. This fee is also waived for customers who maintain an average monthly balance of $50,000 or more in linked Morgan Stanley Private Bank, National Association accounts, or a combined balance of $50,000 or more in linked E*TRADE from Morgan Stanley (held at Morgan Stanley Smith Barney LLC), 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 fee is charged; or who execute at least 30 stock or options trades during the prior calendar quarter in their linked E*TRADE from Morgan Stanley accounts.
Certificates of Deposit ("CDs")
(Not available for new account opening)
Rates: All fixed-rate CDs have rates that are fixed from the date of deposit until their maturity date. The APY is based on no withdrawal of credited interest and no redemption prior to the stated maturity date.
Compounding and Crediting Frequency: Interest is compounded daily. Interest will compound from the date of deposit until the last full day before the date of withdrawal using the daily balance method. Interest will be credited to your account on a quarterly basis.
Time Requirements: The initial maturity date of your account will be based on the minimum initial deposit date and the term you have selected.
Transaction Limitations: You may only make one deposit into or withdrawal from your account during the one-week grace period immediately following maturity. A new maturity date will be calculated from the date of the deposit or withdrawal, as applicable.
Early Withdrawal Penalties: Certificate of Deposit customers agree to keep funds on deposit for a fixed period of time. Unless otherwise provided, partial withdrawals and additional deposits are not permitted. If we permit an early withdrawal of principal from a CD, we may impose an early withdrawal penalty. Tax penalties also may apply to premature distributions from IRAs. If we permit a withdrawal of principal before the stated maturity, we may impose a penalty equal to one-half of the interest payable over the term of the CD whether earned or unearned. The penalty will be assessed based upon the portion of the principal that is withdrawn. We may elect not to impose a penalty for a withdrawal of principal following the death or adjudication of incompetence of any account owner if the account was opened before such adjudication and not extended or renewed after that date.
Withdrawal of Interest Prior to Maturity: Interest earned and credited to the account may be withdrawn with no penalty. However, the APY assumes interest will remain on deposit until maturity. A withdrawal will reduce earnings.
IRA CDs: IRA CDs must be for a term of one year or longer. Only interest distributions and required minimum distributions are penalty free. All other distributions are subject to the early withdrawal penalty described above, regardless of the age of the account owner. There is a seven calendar day revocation period for IRAs.
Fixed-rate CDs: The interest rates and corresponding APYs for these accounts are fixed for the term of the account from the date of deposit.
PrimeLink CDs: The interest rate for this product is tied to the Prime Rate as reported in the Wall Street Journal. The interest rate is variable and will automatically change when the Prime Rate increases or decreases. No notice will be provided when there are changes in the interest rate and APY for variable-rate products. Early-withdrawal penalties for PrimeLink CDs are based on the interest rate at the time of withdrawal. The penalty is equal to one-half of the interest payable over the term of the CD whether earned or unearned. The penalty will be assessed based upon the portion of the principal that is withdrawn. Early-withdrawal penalties may be waived in the event of death or legal incompetence of any owner.
Renewal Policy – IRA CDs: Unless we provide otherwise, IRA CDs will automatically renew at maturity at the current rate for the same term, type and amount. You will have seven calendar days after the maturity date to withdraw funds without penalty. Interest will be paid during the grace period at the rate offered on new, similar accounts as of the maturity date. If you close the account during the grace period, interest will accrue past the maturity date through the last full day prior to the account closure. You will be subject to the early-withdrawal penalties stated above if you close the account after the grace period. We reserve the right to change the rate of interest for automatically renewable accounts at each renewal period. If we elect not to permit the renewal of an automatically renewable time deposit, we will notify you in advance.
Renewal Policy – Non-IRA CDs: Non-IRA CDs will not automatically renew at maturity. Upon maturity, the balance of your account will be distributed to you directly via check disbursement (or other disbursement method that we may make available and is selected by you), and your account will be closed. Interest will not be paid on any balances after the maturity date.
Maturity: The term for each CD is specified on the account application.
Additional Fees Applicable to All Bank Accounts
The following fees apply to all accounts and are in addition to any other fees that may be assessed against an account:
| Item | Amount | Description |
|---|---|---|
| Incoming Wires | $0 | There will be no charge for wires deposited into your account. |
| Outgoing Wires | $25 per wire | There is a $25 fee to wire funds out of your Morgan Stanley Private Bank account. (For Checking and Max-Rate Checking accounts, this fee is waived for wire transfers places online.) |
| Overnight Mail | $25 | There is a $25 fee for expedited delivery of account related requests. Standard first class USPS delivery of account requests is free unless otherwise noted. |
| Returned Deposits | $25 | There is a $25 processing fee for deposits made into your Morgan Stanley Private Bank account that are returned due to insufficient funds or stop payment requests. (For Checking and Max-Rate Checking accounts, this fee is waived.) |
| Stop Payment Requests | $25 per check or transaction | There is a $25 fee for each check or transaction you would like us to stop payment on from your Morgan Stanley Private Bank account. (For Checking and Max-Rate Checking accounts, this fee is waived.) |
| Research | $25 per hour | There is a $25 fee for each hour of research you request from a Morgan Stanley Private Bank financial services representative. |
| Paper Statement Copy | $5 | There is a $5 fee for each duplicate statement copy (or any paper statement copy for Complete Savings Accounts) you would like us to print and mail to you directly. If you have electronic statements, printable account statements are available for free at etrade.com. |
| Insufficient Funds | $25 per item | There is a $25 fee for each item we attempt to pay from your account but are unable to process due to insufficient or uncollected funds. Uncollected funds are deposits in your account that are still on hold and are unavailable to pay debits drawn on your account. This fee can be avoided by verifying your available balance prior to making debits from your account and ensuring that all deposit holds have been lifted. (For Checking and Max-Rate Checking accounts, this fee is waived.) |
| Paper Check Copy | $0 | There will be no charge for any check copy you would like us to print and mail to you directly. |
| Outgoing IRA Full Account Transfer | $75 | There is a $75 processing fee for transferring your full E*TRADE from Morgan Stanley IRA account to another institution. |
| Legal Process | $75 | There is a $75 minimum fee, plus any research and copy fees, for legal processing affecting your account (e.g., subpoenas and levies). |
| Digital Security ID Token | $0 | There will be no charge for the E*TRADE CompleteTM Digital Security ID and/or any additional tokens. |
| Verification of Deposit | $5 per request | There is a $5 fee for each request to verify funds on deposit in your E*TRADE from Morgan Stanley account. Deposits into your E*TRADE from Morgan Stanley account can be verified for free in your account transaction history at etrade.com. |
The E*TRADE CompleteTM Digital Security ID and any additional tokens will be provided at no cost to you. We, at our sole discretion, may impose a fee for this service in the future or may discontinue the service. To learn more about customer qualifications, please visit etrade.com.
Morgan Stanley Private Bank does not assess any fee for ATM use, but fees may be imposed by the owner or operator of the ATM or network. Morgan Stanley Private Bank will refund the amount of the owner/operator's fee by the end of the same business day that the withdrawal occurred to your eligible account.
Morgan Stanley Private Bank imposes a charge equal to 1% of the transaction amount (including credits and reversals) for non-U.S. currency and foreign transactions.
See our Bill Pay Terms & Conditions for fees charged in connection with our online internet bill payment service.
Note: The fees, rates and benefits described in this schedule were current as of the date of publication, but are subject to change. You can obtain current information by calling us at 800-387-2331. Prices listed are subject to sales tax wherever applicable.
Banking products and services are provided by Morgan Stanley Private Bank, National Association, Member FDIC.
Securities products and services are offered by Morgan Stanley Smith Barney LLC, Member SIPC.
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