E*Trade Complete and Max Rate Checking Review

Note: This post was published on Jan. 27., 2010 and may contain outdated data pertaining to bank interest rates. Use this link to see the latest daily savings and CD interest rates.

You may be familiar with E*Trade as one of the first online stock brokers. What you may not know is that E*Trade is also a great place to bank. They even do home loans and credit cards.

E*Trade Max Rate Checking

E*Trade’s Max Rate checking account provides the usual checking perks:

  • Free bill pay
  • Free debit card
  • Online access, etc.

Where it gets good is that E*Trade Max Rate Checking also gives you free unlimited ATM fee refunds and pays interest on balances over $5,000. As of May 22, 2012, that rate was 0.15% APY. Not much, but it is a checking account.

E*Trade Complete Savings Account

To round out their brokerage and banking options, E*Trade also offers an online savings account with no minimum balance requirement and just a $1.00 require opening deposit. As of this update (5/22/12) the APY is a paltry 0.05%, but if you want a savings account under the same roof as your brokerage services, it’ll do. Otherwise, find another online savings account here.

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About David Weliver

David Weliver is the founding editor of Money Under 30. He's a cited authority on personal finance and the unique money issues we face during our first two decades as adults. He lives in Maine with his wife and two children.


  1. They probably did that to encourage people to have both the max rate checking and the complete savings….I just signed up for it…looks like a very interesting package!

    I’ll keep most of my cash in the Savings account, and i am going to set up DD to the checking to avoid the fee, since i won’t be keeping the $5,000 in the checking…..

  2. Chris Campbell says:

    It looks like the Max-Rate Checking APY has now dropped to 3.01%. The Complete Savings rate of 3.30% APY is definitely better now.

  3. Yeah, Terrence, you raise a good point. I didn’t think of it before writing this, probably because I’ve never seen a bank offer a better rate on checking than savings.

    In this case, if you keep more than $5k in checking at all times, it would make sense to dump the savings account.

  4. If you were to keep a balance of over $5000 grand, is there any benefit of having the savings over the max-rate checking? I have both but I’m trying to figure out why I don’t just close out my savings and dump it all in the 3.25% checking account. Assuming I plan on always having at least $5000 in it, does that make sense? Thoughts?

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