At a glance

Overview

Deposit products offered by E*TRADE from Morgan Stanley are worth considering if you’re looking to consolidate your banking and investing at one financial institution. The savings and checking products — as well as the brokerage accounts — are offered through E*TRADE, which was acquired by Morgan Stanley in 2020. E*TRADE from Morgan Stanley offers above-average annual percentage yields (APYs) on its savings account and certificates of deposit (CDs), and a stand-out interest-bearing checking account.

Highlights:

High APY ATM Fee Refunds Free Checking

Highlights:

High APY ATM Fee Refunds Free Checking

4.4

Bankrate Score

CDs

4.1 /5

Checking

4.6 /5

Savings

4.4 /5

Bankrate staff insights

“The online experience was the simplest and fastest of any bank account I’ve opened in the past several years,” said a Bankrate staff member with a Morgan Stanley bank account. “I’m not tech-savvy, so I was pleasantly surprised that I could open the account with such ease. I recommend it to anyone looking to earn some interest on their savings without the hassle of maintaining a minimum balance or paying minimum balance fees.”

Overall

Pros

The savings account, CDs and Max-Rate checking account earn yields significantly above average.
Unlike many other top CDs and savings accounts, there are no minimum deposit requirements.
Customers have check-writing privileges, and checkbooks cost $0.
ATM refunds on checking accounts.
Customers also have access to a large suit of investing accounts, including individual retirement accounts (IRAs).

Cons

No cash deposits.
The Max-Rate Checking account requires an average monthly balance of $5,000 to avoid fees.
No bump-up, no-penalty or IRA CDs.

E*TRADE from Morgan Stanley banking products

E*TRADE from Morgan Stanley Premium Savings overview

4.4

/5

See methodology Compare top savings rates

SCORE BREAKDOWN

APY offering:

3.35%

4/5

Minimum balance for APY:

$0.00

5/5

Monthly service fee:

$0.00

5/5

Minimum balance to avoid fee:

$0.00

5/5

Access to funds:

Good

4/5

Pros

Interest rate above the national average.
No monthly service fees or minimum deposit requirements.
Provides up to $500,000 in FDIC insurance and $1 million for joint accounts, which is double the typical insurance.

Cons

There’s no way to deposit cash into the account.
The account will close if you don’t fund it within 30 days.

The savings account offered by Morgan Stanley Private Bank earns a solid APY — well above the national average, and not far behind the best high-yield savings accounts (HYSAs). Minimum deposit requirements range from $100 to $5,000 for some of the best HYSAs, but there's no minimum here, and no monthly fees, either. One annoyance is that there's no way to deposit cash directly into the account, but you can transfer money in and deposit checks electronically.

E*TRADE from Morgan Stanley CDs overview

4.1

/5

See methodology Compare top CD rates

SCORE BREAKDOWN

APY offering:

4.10%

4/5

Minimum deposit:

$0.00

5/5

Range of term lengths:

6 mos – 5 yrs

3/5

Early withdrawal penalty:

Good

4/5

Offer no-penalty or bump-up CDs:

No

0/5

Offer IRA CDs:

No

0/5

Pros

Competitive APY on all CDs.
No minimum balance requirements, which is rare for even the best CDs.

Cons

No bump-up, no-penalty or IRA CDs.
Grace period to withdraw funds after the CD matures is only seven days.
High early withdrawal penalties.

Morgan Stanley Private Bank offers yields on par with the best CDs currently available — all well above the national average. Its APYs on short terms are especially prime. It also doesn't require a minimum balance or opening deposit, which is a rarity: Many other top CDs require a minimum deposit of $500 or more.

However, if you need to withdraw your funds early, you'll face a penalty of 270 days’ worth of interest for three-year terms — high compared to other banks. Once your CD matures, your grace period to withdraw your funds is only seven days (compared to 10 days at some competitors). It also doesn't offer any kind of special CD, such as a bump-up or no-penalty CD.

E*TRADE from Morgan Stanley Max-Rate Checking Account overview

4.6

/5

See methodology Compare top checking rates

Pros

Two interest-bearing checking account options — one free and one with a waivable monthly fee.
Free checks.
Unlimited ATM fee refunds nationwide for basic checking customers and worldwide for Max-Rate checking customers.

Cons

Cash deposits aren’t accepted.
Low APY on the free Checking account
Max-Rate account comes with a waivable $15 maintenance fee.

Both of E*TRADE from Morgan Stanley's checking accounts earn interest. The fee-free account earns a paltry APY below the national average. The Max-Rate account — the one we rated — earns a stellar interest rate, well above average. It has a $15 monthly fee, waived if you keep an average monthly balance of $5,000 or more. That's much lower than the average requirement of $10,705 (per Bankrate's 2025 Checking Account and ATM Fee Study).

Editor insight

Between the great APY and the unusual perk of worldwide unlimited ATM refunds, this is one of the best checking accounts on the market for frequent travelers.

How E*TRADE from Morgan Stanley compares to other banks

Compare different account types offered by E*Trade by Morgan Stanley. Annual percentage yields (APYs) shown were updated between Feb. 21, 2026 and Feb. 27, 2026.

Selected bank E*TRADE from Morgan Stanley savings account Member FDIC Bankrate score Rating: 4.4 stars out of 5 4.4 Bankrate Savings rating = 4.4/5 Bankrate scores are objectively determined by our editorial team. Annual percentage yields (APYs), minimum opening deposit requirements and minimum balances to avoid monthly service fees are some of the things that make up Bankrate’s score.	Most comparable Quontic Bank savings account Member FDIC Bankrate score Rating: 4.5 stars out of 5 4.5 Bankrate Savings rating = 4.5/5 Bankrate scores are objectively determined by our editorial team. Annual percentage yields (APYs), minimum opening deposit requirements and minimum balances to avoid monthly service fees are some of the things that make up Bankrate’s score. Read review	Search for or select a bank: Bankrate score Bankrate Savings rating Bankrate scores are objectively determined by our editorial team. Annual percentage yields (APYs), minimum opening deposit requirements and minimum balances to avoid monthly service fees are some of the things that make up Bankrate’s score. Read review
APY APY, or annual percentage yield, is the yearly return on a bank or investment account. APY includes the effects of compounding interest. APYs last updated between Feb. 21, 2026 and Feb. 27, 2026.
3.35%	3.50%
Minimum balance for APY
$0.00	$0.00
Estimated earnings Interest earned calculation based on a $50,000 deposit amount for a period of 1 year and is rounded to the nearest dollar. Exact earnings are dependent on calendar year, balance, and compounding frequency. Minimum deposit rules may apply.
$1,675	$1,750

E*Trade from Morgan Stanley’s Premium Savings Account earns a competitive yield. As a special perk, customers can get enhanced FDIC coverage of up to $500,000. No minimum initial deposit is required to open an account, but the account must be funded within 30 days to remain open.	Quontic Bank’s High Yield Savings account is true to its name, earning a top-notch rate on all balances. Customers need just $100 to open an account, and Quontic doesn’t charge a monthly fee.

There’s no minimum deposit requirement. Enhanced FDIC coverage. The yield is competitive.	The High Yield Savings account features a very high rate. The account doesn’t charge a monthly fee.	N/A
The account must be funded within 30 days to remain open. Customers can’t deposit cash into the account.	There’s a $5 dormant account fee.	N/A

Selected bank E*TRADE from Morgan Stanley CD Member FDIC Bankrate score Rating: 4.1 stars out of 5 4.1 Bankrate CD rating = 4.1/5 Bankrate scores are objectively determined by our editorial team. Annual percentage yields (APYs) and minimum deposits are some of the things that make up Bankrate’s score.	Most comparable Marcus by Goldman Sachs CD Member FDIC Bankrate score Rating: 4.5 stars out of 5 4.5 Bankrate CD rating = 4.5/5 Bankrate scores are objectively determined by our editorial team. Annual percentage yields (APYs) and minimum deposits are some of the things that make up Bankrate’s score. Read review	Search for or select a bank: Bankrate score Bankrate CD rating Bankrate scores are objectively determined by our editorial team. Annual percentage yields (APYs) and minimum deposits are some of the things that make up Bankrate’s score. Read review
APY APY, or annual percentage yield, is the yearly return on a bank or investment account. APY includes the effects of compounding interest. APYs last updated between Feb. 21, 2026 and Feb. 27, 2026.
4.10%	4.00%
Minimum deposit
$0.00	$500.00
Term
1 yr	9 mos

E*Trade from Morgan Stanley offers some of the best CD rates on the market, especially for terms of one year or less. Unlike most competitors offering similarly high rates, it doesn't have a minimum deposit requirement. But its early withdrawal penalties can be hefty (for example, 270 days' worth of interest on a three-year term).	Marcus by Goldman Sachs offers nearly every term and type of CD that most savers would want, including no-penalty and bump-up CDs, and they all have competitive rates. Marcus also offers a 10-day rate guarantee, giving you the highest rate available if the rate changes after opening the CD.

Competitive yield on all CD terms. No minimum balance requirement.	Marcus by Goldman Sachs consistently offers competitive yields. Marcus offers a variety of CD terms, so you can easily build a CD ladder at this bank. An account can be opened with as little as $500. Offers no-penalty and rate-bump CDs.	N/A
7-day grace period to withdraw funds. Hefty early withdrawal penalties. No specialty CD options.	Some banks have lower withdrawal penalties.	N/A

Selected bank E*TRADE from Morgan Stanley checking account Member FDIC Bankrate score Rating: 4.6 stars out of 5 4.6 Bankrate Checking rating = 4.6/5 Bankrate scores are objectively determined by our editorial team. Minimum balances to avoid monthly service fees, whether the bank has a monthly service fee, minimum opening deposit requirements, fees to use out-of-network ATMs and overdraft fees are some of the things that make up Bankrate’s score.	Most comparable PNC Bank checking account Member FDIC Bankrate score Rating: 4.2 stars out of 5 4.2 Bankrate Checking rating = 4.2/5 Bankrate scores are objectively determined by our editorial team. Minimum balances to avoid monthly service fees, whether the bank has a monthly service fee, minimum opening deposit requirements, fees to use out-of-network ATMs and overdraft fees are some of the things that make up Bankrate’s score. Read review	Search for or select a bank: Bankrate score Bankrate Checking rating Bankrate scores are objectively determined by our editorial team. Minimum balances to avoid monthly service fees, whether the bank has a monthly service fee, minimum opening deposit requirements, fees to use out-of-network ATMs and overdraft fees are some of the things that make up Bankrate’s score. Read review
APY APY, or annual percentage yield, is the yearly return on a bank or investment account. APY includes the effects of compounding interest. APYs last updated between Feb. 21, 2026 and Feb. 27, 2026.
0.05%	0.01%
Minimum balance to open
$0.00	$2,000.00

The Max-Rate Checking account earns a top-notch, competitive APY for a checking account. There are no monthly fees or minimum balance requirements, and customers get refunded for ATM surcharge fees worldwide. But to avoid the $15 maintenance fee, you'll have to keep an average monthly balance of $5,000 or more.	PNC’s checking account is bundled with its savings account, together called Virtual Wallet. The base checking portion of the account doesn’t bear interest, unless you select the Performance Spend or Select category. Even then, the interest is nominal.

Above-average APY. ATM fee refunds worldwide.	PNC’s Virtual Wallet doesn’t require a minimum deposit to open.	N/A
Customers can’t deposit cash into the account. $15 waivable monthly maintenance fee.	Virtual Wallet charges monthly fees, which increases if you choose an account that bears interest. Waiving the monthly fee for the Performance Spend and Performance Select accounts may be cumbersome for some customers. Hefty overdraft fees are present.	N/A

Find out: Tips to avoid common bank fees

Customer experience

Branch availability. The checking and savings accounts are online-only accounts, so customers don’t have access to in-branch service. But E*TRADE accounts are FDIC-insured through parent company Morgan Stanley Private Bank.

Customer service. Customer service can be reached by phone, though no customer service hours are listed on the website. As of early 2026, it appears live chat is no longer available. This could make getting answers about your account frustrating.

Digital experience. Morgan Stanley Private Bank customers with checking or savings accounts can use the E*TRADE mobile app to transfer cash, deposit checks and pay bills. Those with E*TRADE investment accounts can also access those through the app. The app receives high marks on both the Apple App and Google Play store.

Disclosure: To enhance our product reviews, Bankrate employees often open accounts and provide feedback. They may have been compensated for their time and account maintenance, but this does not affect the integrity of their review.

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Review methodology

With so many financial institutions to choose from, it can be hard to know who to trust. Bankrate’s ever-growing list of bank and credit union reviews is updated regularly. Our editorial team analyzes and reviews each institution across deposit products such as savings accounts, checking accounts, certificates of deposit (CDs) and money market accounts (MMAs). Banks are rated by important factors such as offered interest rates, fees, minimum balance requirements, access to funds and more.

We assign a score to each type of account and its features, weigh them carefully based on importance to account holders and determine an overall score. Read our full review methodology.

E*TRADE from Morgan Stanley Review 2026

The Bankrate promise

At a glance

Overview

Highlights:

Highlights:

Overall

Pros

Cons

E*TRADE from Morgan Stanley banking products

E*TRADE from Morgan Stanley Premium Savings overview

Pros

Cons

E*TRADE from Morgan Stanley CDs overview

Pros

Cons

E*TRADE from Morgan Stanley Max-Rate Checking Account overview

Pros

Cons

How E*TRADE from Morgan Stanley compares to other banks

Customer experience

We want to know what you think about Morgan Stanley Private Bank

Review methodology

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