ETrade is offering a $25 bonus for opening a Complete Savings account with at least $1. It is currently paying 5.05% APY with no minimum balance and no account fees. For more information, see my E-Trade Bank Complete Savings Feature Review. Expires February 28, 2007.
E-Trade is my financial arch-nemesis. I still have an IRA there with 18 cents in it that I cannot close. I even tried opening one of these savings accounts, filling out the entire application and getting an account number. A week later, they didn’t withdraw my deposit and nothing showed up online. After another week of multiple e-mails and an hour on hold, still no account. I feel like their money-saving model is “ignore them until they give up”. Am I the only one?
Thanks to K via BankDeals via Shraz for the tip.
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Closing accounts is seldom easy. It took me for ever to terminate my MCI domestic long distance & international calls program. Then I was repaid for my audacity with a bill for more than $30 for one 6-minute call to Europe — allegedly placed after the discounted service (9cts. a min.) had been canceled. Even the accounts representative at Verizon — which has acquired MCI — thought this was a bit steep. But said she couldn’t help. How much simpler life was when we still had Ma Bell.
yup I found that promo and gave it to bankdeal 🙂
Etrade states no fees to close the account. Transfer are blazing fast. Easy to close an account.
I know, my IRA was supposedly closed and the contents were transferred to Vanguard. Then of course a late dividend or gain was paid. Had to call multiple times to get that $50 or so also sent to Vanguard. Then I guess 18 cents of interest on that cash dividend was paid.
I just wish they could close it so I’d stop getting statements. I’d even put up with withdrawing the money and getting 18 cents of unqualified distributions to pay tax and 10% penalty on 😛
Ha, I properly credited you too shraz 🙂
Same thing happened to me on Ameritrade account. Had zero balance and i asked to close account. After 6 months or so for some weird reason, I decided to try to log into my ameritrade account. The account was still active and i noticed I was charged $100 something for inactive fee. Called them up and they took care of it ONLY because i checked. If not, that inactive fee would keep piling up and some day it might bite me in the ass.
I’ve waited on E-trade (brokerage) hold for what was probably an hour. The longest of any of my financial accounts, by far. And what if you had to call them back? Yoiks.
etrade brokerage side is bad compare to the bank
i almost opened the etrade account, but decided not to. i’m concerned that there isn’t any disclosure about ACH’s. They specifically mention no fee for deposits, but nothing about going out. There is a wire fee, which had me concerned that when I wanted to withdraw the $26 ($25+$1) that it would cost me the $25 for the wire fee.
Do we know if they do a hard credit pull?
i went to sign up for etrade account for the promo, but then i was reading through the fees and didn’t like what i saw…or didn’t see. i don’t find anything mentioned about ACH’s if they are free in and out. wire into the account is explicitly noted as free, but there is nothing about going out. There is a wire fee of $25, which would eat up the $25 promo. There is a bank check fee, if you wanted money that way. if anyone has anything on fees or no fees for transfers out of the etrade account, I’d like to see it. I guess I will pass on this unless I find something different. It just seems odd that they would have inbounded noted, but nothing noted for outbound transfers.
Yes FREE ACH IN AND OUT
they have one of the fastest transfer time.
Remember on online savings you can only do 6 withdrawl per statements
It should be a soft credit pull.
Thanks for the notice! I just signed up. From what I understand, there is a $100 maximum initial deposit (for linked accounts) unless you verify first. If verified, the maximum initial deposit is 25k.
In my case, I only put $10 in anyway, so no biggie. 🙂
I transfered $25 into E*trade to open my account on Jan 22nd. It came out of my checking account, I was able to verify my checking account for future transfers, but the $25 still hasn’t shown up as a balance on E*trade (even though it has earned $0.03 in interest already).
I tried to set up re-occuring transfers into the account, but I am told there isn’t a valid email address set up, even though they emailed me the congrats for opening, notice that the xfer went throught, etc. It also won’t let me add the email for some reason.
I have also set up an HBSC account, but their xfer times are SSLLOOOOWWW, at least 3 business days, even though it comes out of your account in one day. I have not had good luck with email correspondence with HSBC either.
Etrade is heavily promoting this saving acct but w/out the bonus 😉
I am a long time Checking Account + CD holder w/ no problems
You’re not the only one. I have a -$0.04 balance that they won’t close and have mailed me ~10 statements for. When I call, they say that the account is closed, but I still keep getting statements 🙂
ET has gotten a lot better with their customer service response times. one sloppy solution is to just get electronic statements, or just call them and tell them that each time you call you are wasting their money.
Ed check the Total Balance not Available balance
it will show your amount of $25.00
I received the signing kit from etrade and it did include on it $25 bonus 🙂 just waiting for the credit now.
I’ve had a brokerage account with Etrade since about the year 2000, but haven’t done anything with it until this year, after the stocks declined and lost ~95% of their value. Just recently I started looking at the statements, and noticed they have been charging me $40 PER QUARTER, for an account maintenance fee. They also charged me $20 and $40 fees for “reorganization” fees, when companies died off, and a similar fee for Reverse Splits (I had some real winner stocks….). So starting in February I have had to call about 4 or 5 times to get them to close the account, and they have asked me to “call back next week” the last 2 times. Finally today I got someone who said it would be closed within 2 biz days. I hadn’t set up an electronic transfer, so getting my own money BACK by check cost me $10 more, although I suppose I could have avoided this if I wanted to wait longer while I created an external e-transfer. Be sure you won’t be paying the $40/quarter charges, or you will be very unhappy very quickly. I can’t wait to stop getting their junk mail also, although I doubt if that will ever stop. Very dis-satisfied.
How to terminate ET acc? Call or email them?
I’m in the same boat – I’ve got an account from a former employer with 5 or 6 bucks in it that I’ve asked them to close on multiple occasions. I wish they would just stop sending me mail.
Bob,
E-trade did exactly the same thing to me… they have a lot of junk fees and I would not recommend E-trade to anyone. There are a lot better choices out there that do not charge your account like trade and nickel and dime you with hidden fees.