Bank of America's Free Online Trades
Oct 12, 2006 - 12:07 PM by Ken Tumin
Bank of America has announced that through its brokerage unit, it'll offer 30 free online trades a month for customers with at least $25K in bank deposits (see CNN article).
If you're an active stock trader, this could save you money. But if you don't do many stock trades, you'll be better off keeping your money away from Bank of America's standard savings accounts or checking accounts. However, there are some options in which you can now get decent rates at Bank of America. If you're an AAA member or a NEA member, there's a high yield money market account available through MBNA which was just acquired by Bank of America (see post). Also, Bank of America has been offering some 5-percent-plus CD specials (see post). If you don't keep too much money in a BofA's checking or savings account, you can make out well with signup bonuses and the Keep the Change Program (see post).
Thanks to the reader who mentioned this news in the finding deals post.
If you're an active stock trader, this could save you money. But if you don't do many stock trades, you'll be better off keeping your money away from Bank of America's standard savings accounts or checking accounts. However, there are some options in which you can now get decent rates at Bank of America. If you're an AAA member or a NEA member, there's a high yield money market account available through MBNA which was just acquired by Bank of America (see post). Also, Bank of America has been offering some 5-percent-plus CD specials (see post). If you don't keep too much money in a BofA's checking or savings account, you can make out well with signup bonuses and the Keep the Change Program (see post).
Thanks to the reader who mentioned this news in the finding deals post.
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Eric Bergen (anonymous) - #1, Tuesday, November 28, 2006 - 3:35 PM
E*Trade & the other competitors will have to match eventually or risk losing their customers. I know I’m thinking of switching! But the Ameritrades & Scottrades of the world cannot since this is their primary source of revenue. I see them getting bought out by the more diversified online bankers.
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