E-Trade Login: E-Trade is a comfortable option for current brokerage customers. It is also best for another customer because of no minimum balance requirements and more. Keep reading to learn more.
What is E-Trade?
E-Trade, also known as Morgan Stanley Private Bank. It is one of the pioneers in online trading, E-Trade brokerage provides a host of commission-free trading options.
It also provides basic checking and savings accounts as a comfort to brokerage customers who will like to save their money under the same roof.
Let’s check out some features that will make you consider Morgan Stanley Private Bank(E-Trade).
APY
E-Trade Bank’s Premium savings account gets a 20% APY on every balance deposit without any minimums. The Bank states that it is 20 times higher than the national average. This makes it one of the top-yielding savings Accounts.
Benefits
One of the benefits you get from using E-Trade or Morgan Stanley Private Bank is to use it with a brokerage account to promote quick deposits and withdrawals.
Also, you get to borrow using a line of credit against your asset. The best part is most of the Accounts have no fees or minimum deposit requirements. The overall fees are low compared to other banks, and most of them can be waived.
If you do not overdraw your account, you can send a wire transfer, or need extra service, you may not need to pay any fee at E-Trade bank.
Products
E-Trade Bank has limited account options, which include Checking accounts, and savings accounts.
Checking Accounts
E-Trade Bank has two Checking accounts: the standard E-Trade Checking account and the enhanced Max-Rate Checking account. Both accounts do not need a minimum opening deposit and they are FDIC-insured up to $250,000. Customers enjoy free online bill pay service, plus a free debit card and non-stop debit and check transactions.
The Max-Rate Checking account is an interest-bearing account. It has a monthly service fee of $15, which can be avoided by setting up a direct deposit of $200 or more for each month, and also if you maintain a minimum average monthly balance of $5,000. Customers can get their cash in over 2 million ATM locations across the globe and also get non-stop refund fees at any ATM in the U.S.
The E-Trade Checking account has most of the features of the Max-Rate account. But, in E-Trade checking account, you are not required to pay interest and you do not earn ATM fees refund.
Morgan Stanley Private Banking Savings Account
E-Trade Bank also has a savings option which is also a great option as a result of the APY of 20% on all balances. It requires no account minimum and no monthly service fee.
It is also FDIC-insured up to $500,000, which is double of checking accounts. In addition, you can make transfers to and also from your brokerage account immediately without any amount.
How To Open an Account
Opening an E-Trade Bank account is not hard, all you need to do is make a schedule to visit one of the branches close to you. Or, you can do it online.
During the process, you will have to select the account type, you have various options which include: a retirement account, an Investment option, and more. Also, make sure your personal details are available. You will need the following:
- Name
- Address
- Date of birth
- Employer’s name and address
- Email address
- Phone number
- S. permanent residential address
- Social Security number
You will create a login and password. In addition, If you need to make payment to the account, you will need a routing number and bank account to transfer cash to your new E-Trade bank account.
Logging In to Your E-Trade Account
Once you have set up your account and created your Login, logging in is simple. All you need to do is follow the steps below:
- Go to https://us.etrade.com/home
- Click on “Log on”
- Enter your user ID and password
If you forgot your password or user ID, you can retrieve them easily. All you need to do is provide your user ID for the case lost password and your email address for the lost user ID.
However, if the situation persists, contact call 800-387-2331 to try to get help.
4 Tips for Protecting Your E-Trade Login and Account
Use the following steps to protect your E-Trade Bank account.
- Set a unique password in your place of work
- Register in two-factor authentication
- Update your contact information
- Activate voice ID, or make use of a verbal password when you are putting a call through to the financial organization.
Customer Service
Branches are available in select major cities in the states of California, Arizona, Florida, Washington, D.C., Colorado, Georgia, Massachusetts, Michigan, Illinois, Minnesota, New York, New Jersey, North Carolina, Pennsylvania, Texas, Oregon, and Washington.
Contact 1-800-387-2331 for further assistance.
E-Trade Bank vs. Competitors
E-Trade Bank also competes with other traditional and online banks even though it is created primarily for customers of the bank’s brokerage division.
E-Trade Bank vs. Bank of America
Bank of America has a range of banking products. It owns approximately 4,200 financial center locations compared to the 29 provided to E-Trade’s traditional bank customers.
However, E-Trade gives more interest rates when compared to Bank of America for all balances.
E-Trade Bank vs. Wells Fargo
Wells Fargo is a full-service institution, it provides over 7,200 branch locations and has several accounts. Hence, it is best for people looking for large products and value sizes.
The edge E-Trade has is that it provides non-stop ATM fee refunds with its Max-Rate Checking account compared to the $2.50 to $5 Wells Fargo charges for non-Wells Fargo ATM transactions
FREQUENTLY ASKED QUESTIONS
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Is E-Trade good for beginners?
E-Trade is a great option for anyone searching for low-fee banking or a quality brokerage account. The banking and brokerage interfaces are easy and user-friendly enough for anyone looking to get started with investing.
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Is it free to trade on E-Trade?
Most trades are generally free. There are no commissions on U.S.-listed stocks, ETFs, and options. But, futures contracts are $1.50 each. Options contracts are $0.65 each and drop down to $0.50 once you hit 30 trades in a quarter.
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How does E-Trade make money?
E-Trade makes money off its options and futures contract fees, and also on the mutual funds it offers.
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How much money do you have to start with on E-Trade?
No account minimum is required to invest with E-Trade.