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A number of E*TRADE Bank customers have written to Consumerism Commentary to inform me of this recent news. E*TRADE is planning to move its banking customers to Discover Bank. I have a savings account at E*TRADE but I have not yet received any communication from the bank. Thanks to E*TRADE’s fast external ACH transfers, the ... Continue reading this article…
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It’s not your imagination. Banks are now looking for ways to actively discourage new deposit accounts. It’s not just through lowering interest rates, they are scaling back marketing. It makes sense from a business standpoint; the economy is not so great, so companies are saving their operating expenses. Here is a summary of the most recent ... Continue reading this article…
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E*TRADE has decided to discontinue its collection of index mutual funds. If you hold shares of ETSPX (S&P 500 index fund), ETRUX (Russell 2000 index fund), ETTIX (technology sector index fund), or ETINX (international index fund), E*TRADE or your broker will automatically sell your shares by March 27, 2009. Even though index funds are likely the ... Continue reading this article…
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Looking for the latest interest rates? View our current and historical savings account interest rates page. The following information was posted on February 14, 2009, and is no longer current. Happy Valentine’s Day! E*TRADE Bank is celebrating the holiday by encouraging customers to go forth and be materialistic and to leave less money in the bank; ... Continue reading this article…
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Ever get the feeling that someone is trying to get you to spend your money, perhaps to stimulate the economy? Banks seem to offer no encouragement for deposits lately. Here are some of the latest interest rate drops over the past few days.
Dollar Savings Direct has dropped from 4.0 percent to 3.5 percent APY (2.0 percent ... Continue reading this article…
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HSBC Direct must have heard that I was planning to transfer some of my savings to the bank, which until yesterday had been offering 3.0 percent APY. Following other banks that lowered interest rates for the new year, HSBC dropped their interest rate 13 percent to 2.6 percent APY and is now 1.55 percent APY as of May ... Continue reading this article…
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Highlights: Discover Bank, FNBO Direct, ING Direct, HSBC Advance, Ally Bank. There are two main criteria I use to determine the best online savings account and to choose where to put my money when it comes to short-term savings: interest rates and customer service. Interest rates are important because I don’t want my money to lose ... Continue reading this article…
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Note: As of October 28, this deal is no longer available. This is just a quick reminder that the promotion for the $25 bonus offered by E*TRADE Bank ends today. In order to qualify for the $25, you must open your account by today and fund the account with at least $5,000 by Monday, November 10. ... Continue reading this article…
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Note: As of October 28, this deal is no longer available. E*TRADE Bank is currently offering a $25 bonus for opening a new savings account, but the promotion is ending soon. If you’re interested in earning this easy money, there are a few dates you should know: Monday, October 27, 2008 is the deadline for opening ... Continue reading this article…
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Note: As of October 28, this deal is no longer available. I’ve been waiting for the right time to open an online savings account at E*TRADE Bank. My company stock is held at E*TRADE, and as soon as I sell my stock purchases from the past twelve months, I will move the proceeds into a ... Continue reading this article…
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With some anticipating rate increases from the Federal Reserve, we might start seeing more banks increasing the interest rates offered on savings account. E*TRADE Bank is ready, and they’ve announced an increased from 3.15 percent to 3.30 percent APY starting tomorrow, July 2. I keep my company stock purchase plan investment with E*TRADE, though not by my choice. ... Continue reading this article…
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Active stock trading has more in common with gambling than it does with investing. On top of that, it’s expensive gambling. When you step up to a quarter slot machine, you know each bet will cost a quarter. You don’t lose a nickel on each spin as a “transaction fee.” In ... Continue reading this article…
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Following E*trade’s announcement that they were slightly increasing the interest rate on their Complete Savings Account to 3.15 percent, I’ve updated the list of savings and checking account interest yields. There have been a number of changes since the last update, including the following.
UFB Direct dropped from 3.35 percent to 3.01 percent. Kirkpatrick Bank’s Savings Square dropped from ... Continue reading this article…
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On Thursday, E*Trade Bank will increase the interest it pays on the Complete Savings Account from 3.01 percent to 3.15 percent APY. It’s a small move but it could be a good sign for savers if other banks follow suit. My company stock purchase plan account is held at E*TRADE and I plan on opening a savings ... Continue reading this article…
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