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Anyone use E-trade bank or any other online banking service?

M

Maverick

Diamond Member
I'm moving to another city and I need to switch banks. One of my friends found out that E-trade bank offers great deals on car loans (4.55% APR) and other good benefits. They also have a few depost taking ATMs near my new place.

I'm a little cautious about going with an online only bank and I'm wondering if anyone's got any experiences with it.
 
I would make sure that E-Trade BANK (not the stock trading division) is FDIC insured.

Also check out their fee schedule and how are you supposed to DEPOSIT funds?

A local credit union may be better suited for your banking needs.
 
looks like their savings accounts suck. They only allow 6 transfers per month. I transfer a lot between the two so this would keep me from making it my full time bank. Oh well so much for that idea.
 
Yup, they're FDIC insured. They were around for years as Telebank before ETrade bought them. I have checking and savings accounts and a CD there since they pay much higher APY than my "real" bank, though ING Direct is higher still. (It isn't worth the trouble to move for me.)

I just use them to hold money though, I still pay bills etc. with my Wells Fargo account.
 
Originally posted by: Shiva112
looks like their savings accounts suck. They only allow 6 transfers per month. I transfer a lot between the two so this would keep me from making it my full time bank. Oh well so much for that idea.
Click to expand...

I don't know if E-trade is the right bank or not, but if everything else about the bank is good except the 6 transfer/month limit, I wouldn't let that stop me. That's one transfer every 5 days and it shouldn't be a tremendous burden to live with that.
 
I have been using Bank of America for long time, as long as you have direct deposit, you know how to avoid fee, you will have a very nice checking for free, with unlimited online payment.
 
I have a savings account at ING Direct. It's FDIC insured, but they don't offer a checking account, so I just use it as a secondary account.
 
With etrade bank, is it possible to send money from their savings account to an account at another bank, say bankone, without charges?
 
Originally posted by: jjsole
With etrade bank, is it possible to send money from their savings account to an account at another bank, say bankone, without charges?
Click to expand...
I'm not sure about ETB, but at ING you can do 6 ACH transfers per month.
 
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