At a glance

Overview

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

Highlights:

High APY ATM Fee Refunds Free Checking

Highlights:

High APY ATM Fee Refunds Free Checking

4.8

Bankrate Score

CDs

4.5 /5

Checking

5.0 /5

Savings

4.9 /5

Customer Experience

4.5 /5

E*TRADE from Morgan Stanley pros and cons

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.
Checking accounts offer free debit cards, checks and ATM refunds.
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.
CD options are limited, and there are no bump-up, no-penalty or IRA CDs.

E*TRADE from Morgan Stanley banking products

E*TRADE from Morgan Stanley Premium Savings overview

4.9

/5

See methodology Compare savings rates

SCORE BREAKDOWN

APY offering:

3.75%

5/5

Minimum deposit:

$0.00

5/5

Monthly service fee:

$0.00

5/5

Minimum balance to avoid fees:
$0.00
5/5

The lowest balance an account must maintain to avoid a monthly fee.

Access to funds:
Great
5/5

Access to funds scores how many and which ways you can withdraw and deposit funds from a savings account.

Additional savings tools:
No
0/5

Additional savings tools include features such as sub-accounts, roundup savings or other automatic savings features.

Pros

APY 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.

This savings account 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

4.5

/5

See methodology Compare CD rates

SCORE BREAKDOWN

APY offering:

1-year APY: 4.55%

5/5

3-year APY: 4.80%

5/5

5-year APY: 4.80%

5/5

Minimum deposit:

$0.00

5/5

Early withdrawal penalty:

Good

4/5

Offers specialty CDs:
No
0/5

Specialty CDs include no-penalty CDs, bump-up CDs and add-on CDs.

Number of CD terms:
7
4/5

The number of CD terms a financial institution offers.

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 Checking Account overview

5.0

/5

See methodology Compare checking rates

SCORE BREAKDOWN

Minimum deposit:

$0.00

5/5

Monthly service fee:

$0.00

5/5

Overdraft fees:

Excellent

5/5

Minimum balance to avoid fees:
$0.00
5/5

The lowest balance an account must maintain to avoid a monthly fee.

Early direct deposit:
No
3/5

A feature that allows you to receive your paycheck or other qualifying funds earlier than the official payment date.

ATM network:
Great
5/5

Accessibility to fee-free ATMs for account holders.

APY offering:
0.05%
4/5

APY, or annual percentage yield, is the yearly return on a bank or investment account. APY includes the effects of compounding interest.

Pros

Free checks and debit cards available.
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 balances under $10,000.

E*TRADE from Morgan Stanley offers a single checking account option, the Max-Rate account. It earns a stellar 2.00% APY if you maintain a balance of $10,000 or more. Any less than that, and you’ll earn a paltry 0.05% APY on your checking account.

Still, E*TRADE from Morgan Stanley stands out because of its numerous no-cost perks. There are no monthly fees, and you receive unlimited domestic ATM fee refunds (an uncommon benefit). Checks are free, outgoing online wire transfers are free and the insufficient funds fee is waived.

Editor insight

Between the great APY and the unusual perk of worldwide unlimited ATM refunds, the Max Rate checking account may be one of the best checking accounts on the market for frequent travelers (that is, if you can avoid the $15 a month fee).

Customer experience

4.5

/5

See methodology

SCORE BREAKDOWN

Hours of operation:

Great

5/5

Amount of customer service options:

Excellent

5/5

Average mobile app rating:

Great

4/5

Website ease of use:
Great
4/5

How user-friendly and intuitive the bank's website is for customers to navigate and complete banking tasks.

Branches:
N/A
0/5

The availability and accessibility of physical branch locations for in-person banking services.

Account alerts:
Yes
5/5

The variety and customization options for notifications about account activity and important updates.

Customer support. Customer service can be reached 24/7 by phone. As of early 2026, it appears live chat is no longer available, but there is an extensive FAQ on the website.

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.

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.

How E*TRADE from Morgan Stanley compares to other banks

Compare different account types offered by E*TRADE from Morgan Stanley. Annual percentage yields (APYs) shown were updated between Oct. 24, 2026 and Oct. 30, 2026.

Selected bank E*TRADE from Morgan Stanley savings account Member FDIC Bankrate score Rating: 4.9 stars out of 5 4.9 Bankrate Savings rating = 4.9/5 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: 4.2 stars out of 5 4.2 Bankrate Savings rating = 4.2/5 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 Oct. 24, 2026 and Oct. 30, 2026.
3.75%	3.20%
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.
$1,875	$1,600

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 earns a solid 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 solid 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: 4.5 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.	Most comparable Marcus by Goldman Sachs CD Member FDIC Bankrate score Rating: 4.8 stars out of 5 4.8 Bankrate CD rating = 4.8/5 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 Oct. 24, 2026 and Oct. 30, 2026.
4.55%	4.40%
Minimum deposit
$0.00	$500.00
Term
1 yr	1 yr

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 rates on all CDs. No minimum balance requirements. Rate guarantee for 10 days.	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
Hefty early withdrawal penalties. No specialty CD options. Grace period to withdraw funds after the CD matures is only seven days.	Some banks have lower withdrawal penalties.	N/A

Selected bank E*TRADE from Morgan Stanley checking account Member FDIC Bankrate score Rating: 5 stars out of 5 5.0 Bankrate Checking rating = 5.0/5 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: 3.5 stars out of 5 3.5 Bankrate Checking rating = 3.5/5 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 Oct. 24, 2026 and Oct. 30, 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 earn the top APY of 2.00%, you'll have to keep an average monthly balance of $10,000 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.	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

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Review methodology

To determine a financial institutions' deposit Bankrate Score, Bankrate rates banks and credit unions on a scale of one (1) to five (5) stars — with five (5) the highest rating — based on a variety of factors relating to the bank or credit union's products and services. Banks and credit unions are rated by important factors such as offered interest rates, fees, minimum balance requirements, access to funds and more.

When a bank has entered a consent decree, been assessed a penalty in a case brought by a federal regulator or in a certified, federal class-action lawsuit, or received a federal judgment for harming its banking customers within the past three years, we deduct one point for each penalty received from its total Bankrate Score, with a floor of zero (0) stars.

Read our full review methodology.

E*TRADE from Morgan Stanley Review 2026

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At a glance

Overview

Highlights:

E*TRADE from Morgan Stanley pros and cons

Pros

Cons

E*TRADE from Morgan Stanley banking products

E*TRADE from Morgan Stanley Premium Savings overview

Additional details and scores

Pros

Cons

E*TRADE from Morgan Stanley CDs overview

Additional details and scores

Pros

Cons

E*TRADE from Morgan Stanley Checking Account overview

Additional details and scores

Pros

Cons

Customer experience

Additional details and scores

How E*TRADE from Morgan Stanley compares to other banks

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

Review methodology

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