Transfer Money Disclosure

In giving my authorization to E*TRADE Securities LLC (“ETS”) or Morgan Stanley Smith Barney LLC (“MSSB,” and together with ETS, the “Company”) to establish a Transfer Money link between my E*TRADE from Morgan Stanley (“E*TRADE”) brokerage or Morgan Stanley Private Bank account and an account at another financial institution (hereafter, "external funding account"), I certify that I have authority over the external funding account. I authorize the Company to initiate ACH transfers between my E*TRADE account (held at either ETS or MSSB) or Morgan Stanley Private Bank account and the external funding account as long as such transfers are in compliance with US laws.

In the event that I am routed through the deposit verification process when verifying the external funding account my authorization allows Morgan Stanley Private Bank to initiate two small deposits (each under $1.00) to the account that I have enrolled. After I provide the deposit information to the Company to confirm my authority over the external funding account, I authorize Morgan Stanley Private Bank to thereafter reverse the sum of the verification deposits credited to my external funding account by ACH. Both verification deposits and reversals will be labeled as MORGAN STANLEY PRIVATE BANK TRANSFERS. I understand that no additional charge will be incurred as a result of verifying my external funding account(s).

The following limitations apply to Transfer Money transactions with external funding accounts:

1. Maximum initial transfer of $50,000 to new E*TRADE accounts.
2. Maximum initial transfer of $10,000 to new Morgan Stanley Private Bank accounts.
3. New users (by User ID) are limited to one linked external funding account for 60 calendar days after initiating an incoming transfer from the linked external funding account.
4. For all transactions between an E*TRADE account and an external funding account, Transfer Money has an aggregate transfer limit of $100,000.00 for each of the accounts selected. This limit includes the aggregate of all ACH deposits and withdrawals originated at the Company. Once a transfer is submitted successfully, it is assigned a status of 'In Progress' and the corresponding dollar value is decreased from each of the selected accounts' transfer limit. These transfer limits are lifted once they are confirmed and posted by the Company. Scheduled Transfers will not be considered in the calculation of transfer limits.
   
   A $100,000.00 transaction limit applies for all transactions between a Morgan Stanley Private Bank account and an external funding account.

I acknowledge that this authorization may be revoked only by providing written notice or online revocation to ETS, MSSB and/or Morgan Stanley Private Bank, in such time and manner as to afford each above listed entity a reasonable opportunity to act upon it.
Please review our Instant Verification Terms & Conditions for additional details.

Please print and retain a copy for your records.