E*TRADE review
Updated September 28, 2026 · VaultCue Editorial Team · Facts checked September 26, 2026
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Our verdict
E*TRADE suits US savers who want an easy-access account with a monthly fee of $0 and a minimum deposit of $0, and its variable rate of 4.25% clears the site median of 3%. The trade-off is rate rank: it ranks 128 of 473 on headline rate, so it suits parking cash.
Key facts
- Best for
- Parking cash in the US with penalty free access and a variable rate.
- Headline rate
- 4.25%↗
- Rate type
- Variable↗
- Minimum deposit
- $0↗
- Deposit protection
- FDIC up to USD 250,000↗
- Access terms
- Unlimited, penalty-free access to cash, 24/7; interest compounded daily and credited monthly; no ongoing balance requirements↗
- Monthly fee
- $0↗
- Account kind
- Easy access↗
- Legal entity
- Morgan Stanley Private Bank, National Association↗
- Headquarters
- United States↗
- Founded
- 1982↗
- Support channels
- Phone, Help-centre↗
- Pricing model
- No monthly fee
- Official website
- etrade.com
Everyday accounts
- Currency conversion fee
- 0% to 1%↗
- Local account details
- Us-ACH↗
- Transfer fee
- $0 per incoming wire, $25 per outgoing wire if done online (waived for Checking and Max-Rate Checking accounts)↗
- Features
- Free ATM withdrawals, Joint account
Facts checked September 26, 2026, 6 sources
Apps and profiles
- Get the app
- Google Play
Pros and cons
Pros
- Unlimited, penalty free access to cash, with interest compounded daily and credited monthly and no ongoing balance requirements to stay open.
- Deposits are covered by FDIC up to USD 250,000.
- Support runs on phone and help centre, so a phone line and a help centre are both there.
Cons
- The rate is variable, so the return can fall as market rates move.
- Outgoing wires done online carry a fee, waived for Checking and Max-Rate Checking accounts.
- Currency conversion fees run 0% to 1% and transfers run over US ACH (us ach), so the account is built around a single market.
Who it suits
- US savers who want cash out on demand and a variable rate of 4.25%.
- People holding a larger balance who care more about FDIC up to USD 250,000 than about squeezing out extra yield.
- Anyone keeping a checking account open alongside, since wire fees are waived for Checking and Max-Rate Checking accounts.
Who should look elsewhere
- Rate hunters: AXI Card Tarjeta y Credito shows 21.59% and Plazo ES shows 24.19%, well past the 4.25% here.
- Euro and Latin American savers: PayPal Colombia runs on a wallet with a headline rate of 3.3%, while this account moves money over US ACH (us ach).
- Planners wanting a fixed rate or a notice period: this is an easy access account paying a variable rate.
Rates and terms
The account pays a variable rate of 4.25%, so the return follows the market rather than being fixed for a term. Interest is variable by design, which suits a saver who wants to keep access while the rate moves. Readers comparing easy-access accounts should weigh the rate first, since nothing here is locked in.
How E*TRADE compares
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9.4 vs 9.0
9.4 vs 8.1
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9.4 vs 8.0
9.4 vs 9.5
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9.4 vs 9.0
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9.4 vs 8.5
9.4 vs 8.5
9.4 vs 8.5
9.4 vs 8.4
9.4 vs 8.3
9.4 vs 9.0
Where E*TRADE is available
- Available
- United States
- Licence in United States
- Federal Deposit Insurance Corporation (FDIC), Member FDIC, certificate 34221 (34221), checked September 26, 2026
- Licence in United States
- National Futures Association (NFA), Member NFA (E*TRADE Futures LLC), checked September 26, 2026
- Licence in United States
- FDIC (FDIC cert 34221), checked September 26, 2026
Countries from the brand (Source, checked September 26, 2026)
Frequently asked questions
What rate does the E*TRADE savings account pay?+
The savings account pays a variable rate of 4.25%, compounded daily and credited to the account monthly. Because the rate is variable, the figure can move with market rates, so what you see today is not locked in for the life of the balance.
What does it cost to keep the account open?+
The monthly fee is $0 and the minimum deposit is $0, so running the account costs nothing. The charge to watch is transfers: incoming wires are free, while outgoing wires done online carry a fee that is waived for Checking and Max-Rate Checking accounts.
Is the money in the account protected?+
Deposits are covered by FDIC up to USD 250,000, so cash is insured with the bank rather than held as an investment. The account sits with Morgan Stanley Private Bank, National Association, a US bank listed with the regulator as FDIC cert 34221.
Can I take money out whenever I want?+
Access terms give unlimited, penalty free access to cash at any time, and there are no ongoing balance requirements to keep the account in place. Interest is credited monthly, so taking money out does not stop you earning on what stays.
How is the account funded and paid out?+
Funding runs through US ACH transfers (us ach), which suits payroll and bills in the US. Wires are also possible: incoming wires are free and outgoing wires done online carry a fee, though that is waived for Checking and Max-Rate Checking accounts.
Does it work outside the US?+
The account is built for US money movement: transfers run over US ACH (us ach), and the bank is headquartered in the US. Currency conversion fees run 0% to 1%, so a traveller spending in several currencies should read that range before committing.
Who is this account for?+
It suits a saver in the US who wants easy access, a variable rate of 4.25% and no monthly charge. It is a weaker pick for anyone shopping mainly on rate, since the account ranks 128 of 473 on headline rate.
Sources
- banks.data.fdic.gov/bankfind-suite/bankfind/details/34221 checked September 26, 2026
Backs: Headquarters, Legal entity, Licences, Deposit protection
“CERT=34221; NAME=Morgan Stanley Private Bank, National Association; WEBADDR=www.etrade.com; ACTIVE=1”
- us.etrade.com/bank/bank-rates checked September 26, 2026
Backs: Local account details, Minimum deposit, Pricing model, Transfer fee
“You may make a one-time deposit, via ACH, wire, or check, to fund the account within 90 calendar days of opening the account”
- us.etrade.com/bank/max-rate-checking checked September 26, 2026
Backs: Features, Currency conversion fee
“Free debit card with ATM fee refunds worldwide; Joint accounts: whether you're combining finances with a partner, Max-Rate Checking joint accounts can be opened”
- us.etrade.com/bank/premium-savings-account checked September 26, 2026
Backs: Access terms, Account kind, Headline rate, Monthly fee, Rate type
“Our Premium Savings Account offers unlimited, penalty-free access to your cash”
- us.etrade.com/contact-us checked September 26, 2026
Backs: Support channels
“Call us: Speak with a Customer Service Representative about your brokerage or bank account. 800-387-2331 ... We're here to help. Check out our most popular FAQs below.”
- us.etrade.com/why-etrade checked September 26, 2026
Backs: Founded
“1982 An idea is born ... E*TRADE (then called TradePlus) was founded.”
Compiled from 6 source pages, checked September 26, 2026. We did not open an account.
Not confirmed yet: Term.