E*Trade is some kind of new to regular banking customers. Because the major business of E*Trade is online discount stock brokerage service. The investors of E*trade can buy and sell securities such as stocks, bonds, options, mutual funds, and exchange-traded funds via electronic trading platforms or by phone. But actually E*Trade is also a big online banking service provider. The company also offers banking and lending products such as checking and savings accounts, money market accounts, certificates of deposit (CD), and credit cards. The most popular banking service is the complete savings account which offers great interest rate and sign-up bonus.

E*Trade has brought back the $25 sign-up bonus for its complete savings account customers. This $25 is very easy to get. All you have to do is open a complete savings account through this promotion page with minimum $1 deposit. According to the promotion page, the $25 will be credited to your Complete Savings Account within 30 days of the account. This promotion is good through August 31, 2008. There is no hard pull during the account opening process. All they want to do is to verify your identity.

Another good reason to open the complete savings account at E*Trade is to enjoy the high interest rate from E*Trade. Current rate is 3.30% APY. Compared to the national average interest nowadays, this rate is really competing. For example, the rate of Orange Savings Account from ING is 3.00% and Capital One is offering 2.50% for its Online Savings Account. Plus this complete savings account features no minimum balance requirement and no monthly fees.

Another feature I want to point out is the money transfer between E*Trade and other financial institutes are really quick with their QUICK TRANSFER service.

The banking products and services are offered by E*Trade Bank. The E*Trade bank is a FDIC insured bank which means bank deposits are FDIC insured to at least $100,000. E*Trade Bank is rated as the “Best of the Breed” by Money Magazine in August 2007.