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* Account Types arrow_back Back to Main Menu
* Overview
* Brokerage
* Retirement
* Core Portfolios
* Managed Portfolios
* Small Business
* Bank
* Investment Choices arrow_back Back to Main Menu
* Overview
* Stocks
* Options
* Mutual Funds
* ETFs
* Futures
* Bonds and CDs
* Prebuilt Portfolios
* IPO / New Issues
* New to Investing
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* Overview
* Platforms
* Margin Trading
* Execution Quality
* Pricing and Rates
* Knowledge arrow_back Back to Main Menu
* Overview
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CONVENIENCE YOU CAN BANK ON
Enjoy banking powered by Morgan Stanley Private Bank that’s fully integrated
with your E*TRADE accounts.
MODERN BANKING THAT CHECKS ALL THE BOXES
24/7 BANKING
Manage your money online or with our mobile app.
EXCEPTIONAL VALUE
Enjoy competitive yields and low fees for deposits.
See bank deposit rates and fees.
EASY MONEY MOVEMENT
Move money where you need it most with just a few clicks—both inside and outside
E*TRADE from Morgan Stanley.1
SAFE AND SECURE
Your money is FDIC protected, up to applicable limits.4,11
EXPLORE OUR BANK OFFERINGS
See which Morgan Stanley Private Bank solution is right for you.
CERTIFICATES OF DEPOSIT (CD)
Fixed rate for terms from 12 Months to 24 Months
* Competitive rates. APY up to 4.25%.18
* No monthly fees and no minimums19
* FDIC insured up to applicable limits.11
* Daily compounding of interest
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CHECKING
Everyday banking with no monthly fees and no minimums
* ATM refunds nationwide10,13
* FDIC insured up to applicable limits11
* No transaction fees for online wire transfers, stop payments, and more. See
rates and fees
* No minimum deposit
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MAX-RATE CHECKING
High-yield checking with even more value
* 3.00% APY7, 37X the national average8
* ATM fee refunds worldwide.9,10
* FDIC insured up to applicable limits11
* No transaction fees for online wire transfers, stop payments, and more. See
rates and fees
* Maintain an average monthly account balance of $5,000 to waive the $15
monthly account fee.12 See more ways to avoid a fee
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PREMIUM SAVINGS ACCOUNT
Earn a competitive rate from Morgan Stanley Private Bank
* Earn 4.25% APY2, 9X the national average3
* FDIC insured up to $500,000.4 View details
* No minimum deposit5
* Instantly move money to E*TRADE brokerage accounts online 1, 6
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LINE OF CREDIT14
UNLOCK THE POWER OF YOUR PORTFOLIO FOR CASH WHEN YOU NEED IT MOST
* Borrow against eligible assets in your E*TRADE from Morgan Stanley brokerage
accounts15
* Potentially preserve your investment strategy by not selling your
securities16
* Enjoy low interest rates to make borrowing more affordable17
* Flexible repayment schedules makes repaying easier
* Easy application process lets you apply online in minutes
* Typically no fees for set-up costs or late payments
Learn more Get started
TIPS TO HELP YOU REACH YOUR FINANCIAL GOALS
WHAT'S THE DIFFERENCE BETWEEN SAVING AND INVESTING?
The terms “saving” and “investing” both refer to money being used for a goal or
purchase down the road. So, what is the difference?
Read now arrow_forward
THREE WAYS TO MANAGE YOUR CASH MORE STRATEGICALLY
Discover the different types of cash accounts and how they serve different
purposes. Learn how to use them to help meet your financial goals.
Read now arrow_forward
HELPING A LOVED ONE BUY A HOME
Record-high prices, rising mortgage rates and high inflation are all obstacles
for potential new homeowners. Learn how you can help a loved one break into a
tough market.
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FDIC Insured
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EXPERIENCE BETTER BANKING TODAY
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ETRADE FOOTER
ABOUT US
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PLEASE READ THE IMPORTANT DISCLOSURES BELOW.
U.S. News and World Report
June 3, 2024, Buy Side from Wall Street Journal. Reprinted with permission by
Dow Jones & Company, Inc.
1. For details and important information about Transfer Money, please click
here for a listing of the limitations, restrictions and time deadlines
associated with this service.
2. As of 10/10/2024, the Annual Percentage Yield (APY) of the Premium Savings
Account offered by Morgan Stanley Private Bank, National Association is
4.25%. Your interest rate and APY may change at any time and fees may
reduce earnings. Please visit etrade.com/ratesheet for information
regarding this account's current interest rate and corresponding APY.
3. Based on comparison to the National Deposits Savings Average Annual
Percentage Yield (APY) as published on the FDIC Weekly National Rates and
Rate Caps Weekly Update, as of September 16, 2024.
4. The Premium Savings Bank Deposit Program (the "Program") gives Morgan
Stanley Private Bank, National Association the ability to sweep any amount
held on deposit in your Premium Savings Account to other depository
accounts at Federal Deposit Insurance Corporation ("FDIC") member banks
with the purpose of affording you additional FDIC insurance coverage. The
Program is designed to offer up to $500,000 in FDIC coverage to individual
accounts (up to $1 million for joint accounts). Learn more
5. No minimum initial deposit is required to open an account. However, account
must be funded within 30 days to remain open.
6. With Premium Savings Account, withdrawal limits apply. Account holders are
allowed up to six withdrawals or transfers (for example, using Transfer
Money) from their account in any calendar month. Inbound Transfer Money
transactions are not subject to any limits. If transaction limitations are
exceeded, we may close the account, or convert it to a Checking account, or
remove the account's transfer and draft capacity. Funds may be transferred
to another Bank account by written request signed by the account holder(s),
by telephone request through Bank personnel, over the internet, or by
electronic funds transfer, if you subscribe to such services. See your
Account Agreement for additional details.
7. As of 10/10/2024, the Annual Percentage Yield (APY) of the Max-Rate
Checking Account is 3.00%. Your interest rate and APY may change at any
time and fees may reduce earnings. Please visit etrade.com/ratesheet for
information regarding interest rate tiers, current interest rates, and
corresponding APYs.
8. Based on comparison to the National Deposit Interest Checking Average
Annual Percentage Yield (APY) as published on the FDIC Weekly National
Rates and Rate Caps Weekly Update, as of June 17, 2024.
9. With Max-Rate Checking, Morgan Stanley Private Bank, National Association
("Morgan Stanley Private Bank") will not charge you a fee for withdrawing
funds from any institution's ATM but the owner/operator of the ATM may
charge a fee. In those cases, we will refund ATM fees charged worldwide.
For additional information and important details about how the ATM fee
refund will be applied, please visit the etrade.com/rateandfee for more
details.
10. Morgan Stanley Private Bank imposes a charge equal to 1% of the transaction
amount (including credits and reversals) for non-U.S. currency
transactions. Refer to the etrade.com/rateandfee for more details.
11. Deposits held in checking accounts are FDIC insured to at least $250,000.
Learn more.
12. The $15 monthly account fee can be waived when you maintain an average
monthly balance of at least $5,000 in the account on or after the end of
the second statement cycle. Alternatively, you can also waive the fee by 1)
setting up a direct deposit of $200 or more per month to the account (a
combination of direct deposits totaling $200 does not satisfy this
requirement), or 2) maintaining an average monthly balance of at least
$50,000 in linked Morgan Stanley Private Bank, National Association
accounts on or after the end of the second statement cycle, or 3) having a
combined balance of $50,000 or more in linked E*TRADE from Morgan Stanley
(held at Morgan Stanley Smith Barney LLC), and employee stock plan accounts
(including vested in-the-money options, stock option plan shares, ESPP
shares, and released restricted stock) on the date the monthly fee is
charged, or 4) having executed at least 30 stock or options trades during
the prior calendar quarter in your linked E*TRADE from Morgan Stanley
accounts.
13. With Checking, Morgan Stanley Private Bank, National Association ("Morgan
Stanley Private Bank") will not charge you a fee for withdrawing funds from
any institution's ATM but the owner/operator of the ATM may charge a fee.
In those cases, we will refund ATM fees charged nationwide. For additional
information and important details about how the ATM fee refund will be
applied, please visit the etrade.com/rateandfee for more details.
14. Line of Credit (“LOC”) is a securities based line of credit product, the
lender of which is Morgan Stanley Private Bank, National Association, an
affiliate of Morgan Stanley Smith Barney LLC. All LOC lines of credit are
subject to the underwriting standards and independent approval of Morgan
Stanley Private Bank, National Association. The APR (Annual Percentage
Rate) is calculated based on a 360-day year and includes both the interest
rate and certain fees and other charges related to the loan. A processing
fee, currently $10, will be charged for Line of Credit payments made by
check. Other bank fees that may apply can be found here. Your interest rate
will be a variable rate based on an index plus a margin. The index is
currently the sum of two components: 1) the 30-day rolling compounded
average Secured Overnight Financing Rate (SOFR), as published by the
Federal Reserve Bank of New York and 2) a variable rate adjustment. The
SOFR rate may be reset every business day (or the following business day in
event of a holiday). The margin, or interest rate spread, is a percentage
above the index. Your interest rate will increase or decrease based on
changes in the index. See here for current rates.
LOC may not be available in all locations. Rates, terms and conditions are
subject to change without notice. If any of the pledged collateral for your
Line of Credit is held in a managed portfolio, failure to satisfy a
maintenance call may result in the termination of any applicable advisory
agreement. To be eligible for a LOC, a client must have a brokerage account
at E*TRADE from Morgan Stanley that contains eligible securities, which
shall serve as collateral for the LOC. Other restrictions may apply. The
information contained herein should not be construed as a commitment to
lend. Morgan Stanley Private Bank, National Association is a Member FDIC
that is primarily regulated by the Office of the Comptroller of the
Currency. The proceeds from a LOC (including draws and other advances) may
not be used to purchase, trade, or carry margin stock; repay margin debt
that was used to purchase, trade, or carry margin stock; and cannot be
deposited into an E*TRADE from Morgan Stanley, Morgan Stanley Smith Barney
LLC or other brokerage account.
15. The amount you may be able to borrow will be based upon the eligible market
value of your investments, at Morgan Stanley Private Bank, National
Association's discretion. In some cases, due to certain risk factors like
security concentration or liquidity issues, the amount you can borrow may
be reduced.
16. Securities-based lending involves special risks and is not appropriate for
everyone. Be sure to carefully review product details, risks and benefits
to ensure this product is right for you. A decline in the value of your
pledged collateral may require you to provide additional funds or
securities. You can lose more funds than are held in the collateral
account. A Line of Credit account is a full-recourse loan and you will be
held liable for any deficiency. Morgan Stanley Private Bank, National
Association can enforce a liquidation of any pledged collateral and can do
so without contacting you first. You are not entitled to choose which
securities in the collateral account are liquidated. Morgan Stanley Private
Bank, National Association can modify its maintenance requirements at any
time, without notice to you. You are not entitled to an extension of time
to resolve a maintenance call. If your assets are liquidated, there may be
adverse tax or other consequences. A Line of Credit is an uncommitted
demand facility, which means the bank may demand full or partial repayment
at any time or elect not to advance funds.
17. Your applicable interest rate will be determined by your estimated credit
line at the time of application and is subject to change. This rate is
calculated based on a 360-day year. Rates are tied to the 30-day rolling
compounded average Secured Overnight Financing Rate (SOFR), as published by
the Federal Reserve Bank of New York, plus a variable rate adjustment, plus
a margin. The SOFR rate may be reset every business day (or the following
business day in event of a holiday). Processing fees may apply for payments
made by check. Please see rates, fees and other important information at
etrade.com/lineofcreditrates.
18. Certificate of Deposit (CD) interest rates are fixed from the start of the
term until their maturity date.
CD offerings can change on a daily basis. The interest rates for new
accounts are locked in for the entire term of the CD starting on the
Settlement Date. Settlement Date is when funds are received and posted to
your account according to our Funds Availability policy, found in section 3
of the Morgan Stanley Private Bank Deposit Account Agreement. The interest
rate on the Settlement Date can be higher or lower than the interest rate
that was available at the time of account opening. If your Settlement Date
is within 10 calendar days of the account opening, the applied interest
rate will be the highest of the prevailing interest rate on the date of
account opening or the date of Settlement. The APY is based on no
withdrawal of credited interest and no redemption prior to the stated
maturity date. A withdrawal will reduce earnings. See the CD Rate Table
page on the E*TRADE website for information on term lengths, current
interest rates and corresponding APYs.
Interest is compounded daily. Interest will compound from the Settlement
Date until the last full day before the date of withdrawal using the daily
balance method. Accrued interest posts to your account on a quarterly
basis, unless you select at account opening to receive interest via check.
19. Deposits Transaction Limits: You may make a one-time deposit, via ACH,
wire, or check, to fund the account within 30 calendar days of opening the
account. Deposits after this window are not permitted at any time. Unless
otherwise provided, partial withdrawals and additional deposits are not
permitted. Interest earned on the account can be paid out via check, if you
chose that option at opening, otherwise you may not withdraw interest prior
to maturity. A withdrawal of interest will reduce earnings. Withdrawals:
You may make a full withdrawal, without penalty, during the grace period in
the 7 calendar days immediately following maturity. If you choose to make a
withdrawal before maturity, or after the 7-day grace period has ended, an
Early Withdrawal penalty will be assessed (refer to “Early Withdrawal
penalties” section for more detail). Partial withdrawals are not permitted
at any time.
Certificate of Deposit (CD) customers agree to keep funds on deposit for a
fixed period of time. Unless otherwise provided, withdrawals outside of the
grace period are not permitted and may result in an early withdrawal
penalty. If the penalty amount exceeds the accrued interest, the principal
is also subjected to penalty. We may elect not to impose a penalty for a
withdrawal of principal following the death or adjudication of incompetence
of any account owner if the account was opened before such adjudication and
not extended or renewed after that date.
Banking products and services are provided by Morgan Stanley Private Bank,
National Association, Member FDIC.
Securities products and investment advisory services offered by Morgan Stanley
Smith Barney LLC, Member SIPC and a Registered Investment Adviser. Commodity
futures and options on futures products and services offered by E*TRADE Futures
LLC, Member NFA Stock plan administration solutions and services offered by
E*TRADE Financial Corporate Services, Inc., and are a part of Morgan Stanley at
Work. Banking products and services provided by Morgan Stanley Private Bank,
National Association, Member FDIC. All entities are separate but affiliated
subsidiaries of Morgan Stanley. E*TRADE from Morgan Stanley and Morgan Stanley
at Work are registered trademarks of Morgan Stanley.
System response and account access times may vary due to a variety of factors,
including trading volumes, market conditions, system performance, and other
factors.
Statement of Financial Condition | About Asset Protection | Account Agreements
and Disclosures | Quarterly 606 Report | Business Resiliency Plan
©2024 E*TRADE from Morgan Stanley. All rights reserved. E*TRADE Copyright Policy
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