E*TRADE is widely recognized for its online brokerage platform, but it also offers a suite of digital banking products. Customers can open deposit accounts—including savings, checking, and certificates of deposit (CDs)—through its platform.
In this review, we outline E*TRADE Bank’s account offerings, key features, and common use cases.
APYs
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Up to 4.00%8
8. 0.70% Savings APY Boost Earn up to 4.00% Annual Percentage Yield (APY) on SoFi Savings with a 0.70% APY Boost (added to the 3.30% APY as of 12/23/25) for up to 6 months. Open a new SoFi Checking and Savings account and pay the $10 SoFi Plus subscription every 30 days OR receive eligible direct deposits OR qualifying deposits of $5,000 every 31 days by 3/30/2026. Rates variable, subject to change. Terms apply at sofi.com/banking#2. SoFi Bank, N.A. Member FDIC.Up to 3.85%1
Barclays Tiered Savings Annual Percentage Yields (APYs) are accurate as of 01/13/2025 and may change at any time without prior notice, before or after the account is opened. The APYs are determined by the Balance Tiers (Tiers) and the amount deposited. The same rate may apply to multiple Tiers and Tiers may change without notice. APY is calculated based on the Tier into which the end of day account balance falls. Fees could reduce the earnings on the account. No minimum balance to open, but for interest to post to your account you must maintain a minimum balance that would earn you at least $0.01. Please see the Compare Account Page for current Tier and APY information. The APY for the Barclays Tiered Savings account for balance tiers greater than $250,000 are currently 10X the national average of 0.46% APY, based on the national average of savings account rates published in the FDIC’s National Rates and Rate Caps, accurate as of 09/16/2024.Online access
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Table of Contents
Overview
E*TRADE Bank operates as an online-first institution backed by Morgan Stanley. Its deposit accounts are offered through Morgan Stanley Private Bank, National Association, Member FDIC, and are designed to integrate with its brokerage platform for centralized account management.
| Category | Products offered |
|---|---|
| Checking | Max-Rate Checking Account; Checking Account |
| Savings | Premium Savings Account |
| CDs | Certificates of Deposit (various terms) |
Because it is primarily a digital bank, account access is handled through its website and mobile app rather than physical branches.
Key features
E*TRADE Bank provides standard online banking functionality with a focus on accessibility and integration. Features include:
- Fully online banking experience: Open and manage accounts through the web platform or mobile app
- Integration with brokerage accounts: Transfer funds between banking and investment accounts
- No monthly maintenance fees on most accounts: Many deposit products do not charge ongoing account fees
- ATM access and reimbursements: Checking accounts include access to a large ATM network with reimbursements
- Mobile check deposit: Deposit checks using the mobile app
- Bill pay and transfers: Schedule payments and move funds between accounts
- Tiered interest structures: Some accounts offer rates based on balance levels
Pros and cons
Pros
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No monthly maintenance fees on most accounts
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Multiple deposit account options
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Integration with investment platform
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Nationwide ATM access with reimbursements
Cons
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Limited physical branch availability
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Some accounts may have minimum balance requirements
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Interest rates may vary by balance tier
Use cases
E*TRADE Bank accounts can support a range of everyday and longer-term financial needs. The checking accounts can be used for routine spending, bill payments, and ATM withdrawals, while savings accounts may be used to hold cash and earn interest.
CDs can be used to set aside funds for a fixed term with predetermined returns, and the platform’s integration may appeal to those who want to manage banking and investing within a single ecosystem.
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About our contributors
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Written by Amanda HankelAmanda Hankel is a managing editor at LendEDU. She has more than seven years of experience covering various finance-related topics and has worked for more than 15 years overall in writing, editing, and publishing.
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Edited by Kristen Barrett, MATKristen Barrett is a managing editor at LendEDU. She lives in Cincinnati, Ohio, with her wife and their pack of senior rescue dogs. She has edited and written personal finance content since 2015.