Is E*Trade a good savings account?

E*TRADE offers a premium savings account that pays an impressive interest rate of 4.25% APY. The account is FDIC insured for up to $500K, and there are no account minimums or fees to worry about. E*TRADE’s Max Rate Checking Account is another good option.

Can E*Trade funds be sent to the program banks?

Currently E*TRADE from Morgan Stanley accounts are not eligible to have funds sent to the Program Banks. However, effective June 2024, such accounts will be eligible to have funds sent to the Program Banks. Each Morgan Stanley Sweep Bank has a Deposit Limit of $498,000 for joint accounts and $249,000 for all other accounts.

Does E*Trade offer a cash balance program?

CBP is available to E*TRADE customers, regardless of their account type. You can take advantage of the cash balance program if you have an individual margin (brokerage), retirement (IRA), or any of the available personalized investment options. The Extended Insurance Sweep option can also be called the ‘Cash Sweep’ program.