Banking
We work to keep our service fees low and our yields competitive. The numbers you need to know are all here. Take a look, and discover the benefits of banking with us.
Open an account
- Overview
- Premium Savings Account
- Bank Yields
- Max-Rate Checking
- Additional Services
- Bank Rates Sheet
4.25% ($500,000+) 3.00% ($50,000+) 1.50% ($0+) $15 if your minimum account balance is not met You can avoid the monthly fee by meeting any of the following minimums: $02 $02 $02 At least $500,0003 At least $250,000 At least $250,000Bank Yields Premium Savings Account Max-Rate Checking Checking Annual percentage yield ("APY")1
4.25% ($100,000–$499,999)
4.25% ($50,000–$99,999)
4.25% ($5,000–$49,999)
4.25% ($0–$4,999)
3.00% ($5,000—$49,999)
3.00% ($0—$4,999)Minimum monthly balance No account minimums are required to maintain this account An average monthly balance of $5,000 is required to avoid a fee. Please see the monthly fees section below to learn how to waive this fee No account minimums are required to maintain this account Monthly fees No monthly account fees No monthly account fees Minimum opening deposit FDIC Insurance
1. As of . Rates are subject to change at any time and fees may reduce earnings. 2. Account must be funded within 30 days to remain open. 3. Morgan Stanley Private Bank, National Association ("MSPBNA”)’s Premium Savings Account offers an enhanced Federal Deposit Insurance Corporation ("FDIC") coverage feature (“Enhanced FDIC Coverage Feature”, or, the “Feature”) which gives MSPBNA the ability to transfer any amount held on deposit in your Premium Savings Account (“PSA Deposits”) to other depository accounts at FDIC member banks (“Program Banks”) with the purpose of providing you additional FDIC insurance coverage. The Feature is designed to offer up to $500,000 in FDIC coverage for individual accounts and up to $1,000,000 for joint accounts.Learn more.
Earn competitive interest rates with low account fees
Rate information Please visit our bank rates sheet for information regarding interest rate tiers, current interest rates, and corresponding annual percentage yield ("APY"). Your interest rate and APY may change at any time and fees may reduce earnings. Compounding and crediting frequency Interest is compounded daily. Interest will compound from the date of deposit to the last full day before the date of withdrawal. Interest will be credited to your account on a monthly basis. If you close your account before interest is credited, you will receive the accrued interest through the last full day prior to the account closure. Minimum initial deposit No minimum initial deposit is required to open this account. However, account must be funded within 30 days to remain open. Minimum balance No minimums balance is required to avoid monthly account fees.
Bank Check request $15 fee for each Bank Check request in excess of one per calendar monthFees1
1. For additional fees that may apply, please visit the Additional Services page.
Except for fixed-rate certificates of deposit, which earn the same interest rate through maturity, the interest rate and annual percentage yield ("APY") on deposits may change at any time and fees may reduce earnings. Information on current interest rates and APYs can be found by visiting etrade.com/ratesheet. The interest rate and the corresponding APY for all individual or trust deposits more than $10,000,000 and all commercial deposits more than $99,000 are subject to negotiation by the parties. Calculation method We use the daily balance method to calculate interest on accounts. This method applies a daily periodic rate to the principal in the account each day. Interest begins to accrue no later than the business day we receive credit for the deposit of non-cash items (for example, checks). If a minimum average balance is required to avoid a fee, the average balance is calculated by adding the principal in the account for each day of the period, and dividing that figure by the number of days in that period. Tiered-rate accounts On tiered-rate accounts, we apply the interest rate for the balance tier of your end-of-day balance against the entire balance of your account. Different rates may apply to different tiers. This schedule will assist you in comparing the terms of our deposit products. They are part of our Account Agreement with you.Competitive yields
A Max-Rate Checking Account lets you do more with less
Rate information Your interest rate and annual percentage yield ("APY") may change at any time and fees may reduce earnings. Please visit etrade.com/ratesheet for information regarding interest rate tiers, current interest rates, and corresponding APYs. Compounding and crediting frequency Interest is compounded daily. Interest will compound from the date of deposit to the last full day before the date of withdrawal. Interest will be credited to your account on a monthly basis. If you close your account before interest is credited, you will receive the accrued interest through the last full day prior to the account closure. Minimum initial deposit No minimum initial deposit is required to open this account. However, account must be funded within 30 days to remain open. The monthly fee set forth below is waived for customers who meet at least one of the following minimums: 1) set up a direct deposit* of $200 or more per month to the account (a combination of direct deposits totaling $200 does not satisfy this requirement), or 2) maintain an average monthly balance of at least $5,000 in the account on or after the end of the second statement cycle, or 3) maintain an average monthly balance of at least $50,000 in linked Morgan Stanley Private Bank accounts on or after the end of the second statement cycle, or 4) have a combined balance of $50,000 or more in linkedE*TRADE from Morgan Stanley accounts (held at Morgan Stanley Smith Barney LLC), and employee stock plan accounts (including vested in-the-money options, stock option plan shares, ESPP shares, and released restricted stock) on the date the monthly fee is charged, or 5) have executed at least 30 stock or options trades during the prior calendar quarter in linked E*TRADE from Morgan Stanley accounts. * Direct Deposit is a deposit initiated by an institution other thanMorgan Stanley or any of its affiliates (including from an account held at Morgan Stanley Private Bank or Morgan Stanley Smith Barney, which includes E*TRADE from Morgan Stanley) which is processed via Automated Clearing House (“ACH”). The most common forms of Direct Deposit are Paychecks, Pension Checks and Social Security Checks
See Additional Services and click on “See complete rate and fee schedule” for other fees that may apply.Fees
We keep service fees low
Checkbook reorder (standard quantity) $8.75 per reorder for Independent Checking1, $8.25per reorder for the Money Market account1 (fee waived for Checking and Max-Rate accounts) $15for each Bank Check request in excess of one per calendar month ($10 per item for Independent Checking; fee waived for Checking and Max-Rate) $10 per item $25 per item Check returned for non-sufficient funds $25 per item (fee waived for Checking and Max-Rate accounts) Coverdraft Protection $5 per transfer (fee waived for Checking and Max-Rate accounts) To enroll account, call us at 800-387-2331 Digital Security ID $0per device The E*TRADE CompleteTM Digital Security ID and any additional tokens will be provided at no cost to you. Independent Checking: $10 (Not available for new account opening) To avoid the monthly fee, the account holder must 1) maintain an average monthly balance of $1,000 or more on or after the end of the second statement cycle, or 2) maintain an average monthly balance of at least $1,000 in linkedMorgan Stanley Private Bank accounts on or after the end of the second statement cycle, or 3) have a combined balance of $50,000 or more in linkedE*TRADE from Morgan Stanley accounts (held at Morgan Stanley Smith Barney LLC), and employee stock plan accounts (including vested in-the-money options, stock option plan shares, ESPP shares, and released restricted stock) on the date the monthly fee is charged, or 4) have executed at least 30 stock or options trades during the prior calendar quarter in linked E*TRADE from Morgan Stanley accounts. Money Market: $10 (Not available for new account opening) To avoid the monthly fee, the account holder must 1) maintain an average monthly balance of $1,000 or more on or after the end of the second statement cycle, or 2) maintain an average monthly balance of at least $1,000 in linkedMorgan Stanley Private Bank accounts on or after the end of the second statement cycle, or 3) have a combined balance of $50,000 or more in linkedE*TRADE from Morgan Stanley accounts (held at Morgan Stanley Smith Barney LLC), and employee stock plan accounts (including vested in-the-money options, stock option plan shares, ESPP shares, and released restricted stock) on the date the monthly fee is charged, or 4) have executed at least 30 stock or options trades during the prior calendar quarter in linked E*TRADE from Morgan Stanley accounts. Max-Rate Checking: $15 To avoid the monthly fee, the account holder must 1) set up a direct deposit of $200 or more per month to the account (a combination of direct deposits totaling $200 does not satisfy this requirement), or 2) maintain an average monthly balance of at least $5,000 in the account on or after the end of the second statement cycle, or 3) maintain an average monthly balance of at least $50,000 in linkedMorgan Stanley Private Bank accounts on or after the end of the second statement cycle, or 4) have a combined balance of $50,000 or more in linkedE*TRADE from Morgan Stanley accounts (held at Morgan Stanley Smith Barney LLC), and employee stock plan accounts (including vested in-the-money options, stock option plan shares, ESPP shares, and released restricted stock) on the date the monthly fee is charged, or 5) have executed at least 30 stock or options trades during the prior calendar quarter in linked E*TRADE from Morgan Stanley accounts. $0 per incoming wire $25 per outgoing wire if done online (fee waived for Checking and Max-Rate accounts) $25 per outgoing wire if done by telephone (domestic or international)Bank Check request Loan payments by Check Loan check payment returned for insufficient funds Minimum balance fee Wire transfers
1. You may be eligible for a fee waiver on your standard checkbook reorder. Refer to the complete rate and fee schedule for more details. See complete rate and fee schedule
Banking products and services are provided by Morgan Stanley Private Bank, National Association, Member FDIC.
(no minimum monthly account fees, withdrawal limits apply, $0 deposit to open)2Premium Savings Account
Daily Balance Interest Rate Annual Percentage Yield1 $0 to $4,999.99 4.16% 4.25% $5,000to$49,999.99 4.16% 4.25% $50,000to$99,999.99 4.16% 4.25% $100,000to$499,999.99 4.16% 4.25% $500,000+ 4.16% 4.25%
(no monthly account fee, no minimum balance required, $0 deposit to open)2Checking Account
Daily Balance Interest Rate Annual Percentage Yield1 $0+ 1.49% 1.50%
($5,000 minimum balance,3$0 deposit to open)2Max-Rate Checking Account
Daily Balance Interest Rate Annual Percentage Yield1 $0 to $4,999.99 2.96% 3.00% $5,000 to $49,999.99 2.96% 3.00% $50,000+ 2.96% 3.00%
($1,000 minimum balance5)Money Market Account (no longer available to new accounts4)
Daily Balance Interest Rate Annual Percentage Yield1 $0 to $4,999.99 0.01% 0.01% $5,000 to $49,999.99 0.01% 0.01% $50,000 to $99,999.99 0.01% 0.01% $100,000+ 0.01% 0.01%
(no minimum balance, no minimum monthly account fees, withdrawal limits apply)Complete Savings Account (no longer available to new accounts4)
Daily Balance Interest Rate Annual Percentage Yield1 $0+ 0.01% 0.01%
($1,000 minimum balance5)Independent Checking (no longer available to new accounts4)
Daily Balance Interest Rate Annual Percentage Yield1 $0+ 0.01% 0.01%
Daily Compounding: Deposits insured to at least $250,000 by the FDIC
1. As of . Rates are subject to change at any time and fees may reduce earnings. 2. Account must be funded within 30 days to remain open. 3. The $15 monthly account fee can be waived when you maintain an average monthly balance of at least $5,000 in the account on or after the end of the second statement cycle. Alternatively, you can also waive the fee by 1) setting up a direct deposit of $200 or more per month to the account (a combination of direct deposits totaling $200 does not satisfy this requirement), or 2) maintaining an average monthly balance of at least $50,000 in linked Morgan Stanley Private Bank, National Association accounts on or after the end of the second statement cycle, or 3) having a combined balance of $50,000 or more in linked E*TRADE from Morgan Stanley (held at Morgan Stanley Smith Barney LLC), and employee stock plan accounts (including vested in-the-money options, stock option plan shares, ESPP shares, and released restricted stock) on the date the monthly fee is charged, or 4) having executed at least 30 stock or options trades during the prior calendar quarter in your linked E*TRADE from Morgan Stanley accounts. 4. Not available for new account opening. 5. The $10 monthly account fee can be waived when you maintain an average monthly balance of at least $1,000 in the account on or after the end of the second statement cycle. Alternatively, you can also waive the fee by 1) maintaining an average monthly balance of at least $1,000 in linked Morgan Stanley Private Bank, National Association accounts on or after the end of the second statement cycle, or 2) having a combined balance of $50,000 or more in linked E*TRADE from Morgan Stanley accounts (held at Morgan Stanley Smith Barney LLC), and employee stock plan accounts (including vested in-the-money options, stock option plan shares, ESPP shares, and released restricted stock) on the date the monthly fee is charged, or 3) having executed at least 30 stock or options trades during the prior calendar quarter in linked E*TRADE from Morgan Stanley accounts.
