Etrade Money Market Account Promo Update - $50 Bonus
Oct 23, 2006 - 6:46 PM by Ken Tumin
As is typical, Etrade Bank extended its 3-month money market promo. The deal is the same as I posted on in September. It has an APY of 5.28% (5.15% interest rate) for the first 3 months. Also, using this promotional page, there's a $50 bonus. The new expiration date is now October 31, 2006. Please refer to my September post for all the details.
According to this promo page, existing Etrade customers who transfer at least $25,000 in funds from a non-Etrade account into their existing money market account can qualify for the promo rate. And according to this FW thread members have the opportunity for a $50 bonus by transfering at least $25K into the account by 11/30/06. There doesn't seem to be any requirement for keeping this money in the account after this date. It's not clear if you can have both the bonus and the 3-month APY. But with savings account rates at other banks near or above Etrade's promo rate, the $50 bonus is really the main attraction.
According to this promo page, existing Etrade customers who transfer at least $25,000 in funds from a non-Etrade account into their existing money market account can qualify for the promo rate. And according to this FW thread members have the opportunity for a $50 bonus by transfering at least $25K into the account by 11/30/06. There doesn't seem to be any requirement for keeping this money in the account after this date. It's not clear if you can have both the bonus and the 3-month APY. But with savings account rates at other banks near or above Etrade's promo rate, the $50 bonus is really the main attraction.
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Anonymous - #1, Monday, October 30, 2006 - 12:48 AM
A $10 early closeout fee will be assessed if account is closed within 120 days of opening.
Anonymous - #2, Monday, November 20, 2006 - 4:14 PM
This is now good if you open or transfer an account before November 30th 2006. I was transfering the money from outside account to an existing etrade mm account..I called to be sure I would get the $50 and the 5.15%. It took a half hour on hold (good thing I multi-task) and the rep confirmed it and gave me an id confirmation number for the promotion. We will see if I get it. Thanks for this blog for the info.
Banking Guy (anonymous) - #3, Monday, November 20, 2006 - 8:20 PM
Thanks for the info. I see it has been extended to Nov 30th. Please let us know how it goes.
James (anonymous) - #4, Saturday, December 2, 2006 - 1:54 PM
The interest post for november is accurate, ie, at 5.28% apy. At least they managed not to mess that up (customer service is a hassle). Now we'll see about the $50 and then closing out the account (2 more months).
Banking Guy (anonymous) - #5, Saturday, December 2, 2006 - 2:30 PM
Thanks for the info. I hope the $50 doesn't require any calls. Please keep me updated.
Their new Complete Savings account makes this MMA something that would reasonable to keep. You can keep $1.5K in the Complete Savings Account (which is now at 5.05% APY) and not worry about monthly fees on this MMA (see post).
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