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$25 Sign-Up Bonus for ETrade Bank's 5.05% Savings Account

POSTED ON BY

E*TRADE Bank
[Update 6/8/07: Promo is now good through 12/31/07. See post for more info.]

ETrade Bank has just started offering a $25 sign-up bonus for its Complete Savings Account. ETrade started this Complete Savings Account last November. It has no minimum balance requirements and no monthly fees. The current yield is 5.05% APY which is the same yield it had when it launched in November.

Here's the ETrade promotional page for this bonus, and here are the details from that page with the important points highlighted:
$25 will be credited to your Complete Savings Account within 30 days of the account being funded with a minimum deposit of $1. Payments will be reported as interest income. Accounts must be opened by February 28, 2007 to quality for the $25 offer. Must be a new account opened with new funds. Offer applies to one new account per customer. Not good with any other offer. This offer is not valid for E*TRADE FINANCIAL employees.

The nice thing about this is bonus is that it only requires $1. It appears that this promotion may be available for current ETrade Bank customers who may already have an ETrade checking, money market or brokerage account.

Please refer to my ETrade's Complete Savings Account review post for more info.

If you're deciding between HSBC Direct's 6% promo or this ETrade promo, you should consider how much you intend to deposit. If it's $10K, you'll make a little less than $25 in extra interest at HSBC.

Credit for finding this promotion goes to shrazzy who mentioned it in the finding deals post. Thanks!
  Tags: E*TRADE Bank, savings account

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Comments
25 comments.
Comment #1 by No-Brainer Leader (anonymous) posted on
No-Brainer Leader
Awesome. Thanks for the heads up! I deposited just $1. Waiting for the $25 bonus. :)

1
Comment #2 by shrazzy (anonymous) posted on
shrazzy
etrade superbowl commercials were pretty good

1
Comment #3 by Banking Guy (anonymous) posted on
Banking Guy
It was good, although I would have preferred them putting that money into a bigger bonus.

1
Comment #4 by Mike (anonymous) posted on
Mike
One thing to note is there's a $10 fee for closing an account before 120 days.

1
Comment #6 by jeffcovey (anonymous) posted on
jeffcovey
it is available for existing
etrade costumers (like
myself), and the sign-up
process becomes extremely
fast, as the only new
information they need is a
driver's license number.

thanks!

1
Comment #7 by Anonymous posted on
Anonymous
LOL, Mike got owned by metrocard

1
Comment #8 by Anonymous posted on
Anonymous
Do they use the trial deposit method to ascertain that you own the account before they process your initial deposit?

1
Comment #9 by Anonymous posted on
Anonymous
They do use the trial deposit method.

1
Comment #10 by ShraZZy (anonymous) posted on
ShraZZy
you can instant verification (use login/pw of other bank) or deposit verification (deposits 2 small amounts and verify it on ur other bank)

1
Comment #11 by ShraZZy (anonymous) posted on
ShraZZy
I received the signing kit from etrade and it did include on it $25 bonus :) just waiting for the credit now.

1
Comment #12 by Anonymous posted on
Anonymous
Going to try and set this up.. when I follow the link it says $25 but if I click "Apply Now" it takes me to a generic start screen without the $25 bonus listed and says "Apply Now" again.. I'll letcha know.

1
Comment #13 by ShraZZy (anonymous) posted on
ShraZZy
that is weird. Used to go directly to information forms. I notice that they pushed the deadline to March 15

1
Comment #14 by Banking Guy (anonymous) posted on
Banking Guy
Thanks Shrazzy for mentioning this. ETrade use to do the same thing for the old MMA bonuses. I think they use a near-term expiration date to encourage people to act and not procrastinate, and then just keep moving it out.

1
Comment #15 by Ryan (anonymous) posted on
Ryan
Has anyone received the $25 bonus yet? It only shows my initial deposit of $1, but not sign of the bonus yet. On my welcome package it said I used the $25 promotion.

1
Comment #16 by ShraZZy (anonymous) posted on
ShraZZy
Not yet, I emailed them today.

1
Comment #17 by Anonymous posted on
Anonymous
I receive the bonus even though I had just opened up a new savings account on January 26 (just before the promo started) I just called them and asked for it and they gave it to me! Thanks E-Trade!!

1
Comment #18 by ShraZZy (anonymous) posted on
ShraZZy
got it

1
Comment #19 by Curtis (anonymous) posted on
Curtis
I opened the account and the first deposit is dated 2/13. It took them at least two weeks to send the acct opening information (including the signature card) to me. I sent the sig. form back, and never heard boo from e-Trade. Finally, today I called and a CSR told me the account was active with a balance of $1. So, after I walked through activating my online account, I asked why I didn't have the $25 bonus. She said I didn't qualify, that the promo was only for certain customers. WTF?! I went back to the page linked to in the original post and read her, word-by-word, the disclosures and told her there was nothing about the promo being open to certain people only -- the only requirement was an acct. opened by 2/28 (now 3/15, I guess) with $1 deposited. She then said that I needed to have a code. I looked all around the promo page, but could not find any mention of such a code, and told her as much. I demanded to talk to someone who could help me figure it out. She left me on hold for a good 10 minutes at least, and when she came back she said the only option was to submit a promo research request. I said fine, got the confirmation code and hung up.

Once I get the cash I'm closing that account. I've done maybe a dozen or so bank deals in the last year or more, and this is definitely the worst one so far.

1
Comment #20 by tobiesmom (anonymous) posted on
tobiesmom
I opened a Complete Savings Account on 03/12/07. $1.00 was transferred from my linked checking account on 03/13/07.

I'm still seeing a $0 balance when I log onto my account.

How long does it generally take for a deposit to show up? And the $25.00 Sign-up Bonus?

I'm glad I only transferred a $1.00! :(

1
Comment #21 by peggo (anonymous) posted on
peggo
Etrade extended their $25 bonus offer thru the end of April; I signed up on April 12th. They are definitely one of the slowest banks I've ever dealt with, because it took about one week for email confirmation, another week to get the postal mail "welcome kit." I sent back the signature card and who knows how long it'll take for them to receive and process that. However, I only transfered $1 so I was not too concerned. I did call customer service today (May 1) and they were actually quite helpful. There is a 9 business day hold on new accounts. Also, I asked the rep to confirm my bonus and he did. All in all, they're slow, but the bonus makes up for it.

1
Comment #22 by Pavel (anonymous) posted on
Pavel
Hi guys,

could you tell me how I can get this deal. On their web page they say that the deadline is May 31, 2007 ?

Paul

"""ETrade's $25 Savings Account Promo Extended to End of Year"""

ETrade Bank has once again extended its $25 sign-up bonus on its 5.05% APY Complete Savings Account. Instead of just extending it by a month or so, this one is good for accounts opened by 12/31/07.

1