Get $25 FREE for opening a savings account with 5.05% interest. - UPDATED

By Paul Michael on 2 April 2007 (Updated 9 June 2007) 8 comments

fat piggy bank

PLEASE NOTE: Since writing this article, I've been less than overwhelmed by the support from E*Trade. After initially being told by a customer service rep that my $25 would indeed be given to me (and the good folks of Wisebread), I was recently sent en email saying I would only get it if I provide evidence of the postmark on the date of the offer I was sent. Who keeps old envelopes? Not me. So, although the account itself is a good deal, you won;t get the $25 at all. I apologise to all. Read o, but ignore the $25 deal (unless it resurfaces). What a shame E*Trade. I've been a customer only a few days and I already plan on moving over to HSBC savings, with a 6% interest rate.

[Original article follows]

5.05%. That's 6 times more than what you're most likley getting from your regular savings account, which averages around 0.84%. And they're paying you $25 to make you more money! I love America.

I saw a financial advisor recently and he told me about the E*trade savings account. In fact, he told me I'd be a fool not to get one. So, I looked it up. He was totally on the money (sorry, bad pun). The E*trade Financial savings account is legitimate and seriously cool. I've just opened my Complete Savings Account , and here's what did it for me:

  • A free $25 bonus for opening my account before April 30th 3007
  • NO minimum balance (my Compass account has a minimum of $500)
  • NO account fees. That's zero. Zip. Nada.
  • FREE quick transfer - withdraw or deposit funds quickly from any institution, anytime.
  • FDI-insurance to at least $100,000

I can't think of a quicker, easier way to make a little extra cash right now and over the next 12 months. Sure, you can invest in stocks, bonds, mutual funds. But if you're into the no risk game and just want to make one small step toward earning a lot more for your money, this is a sure thing.

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Guest's picture
John

"Accounts must be opened by March 15, 2007 to quality for the $25 offer"

Paul Michael's picture

As I got the offer in the mail today, as well as the website blatantly pushing the $25 2 weeks after the deadline and my financial advisor saying the offer was still live as of March 28th, they will indeed honor the $25 deposit. I suspect they will for anyone who makes sure they ask for it.

Guest's picture
p

Do they do a hard pull credit check when opening a new account?

Guest's picture
nick

i tried to open an account there, and i got declined.
also, ive had a horrible experience with etrade (website not working, called, on hold for 25 minutes). i just dont know if an online account is worth all this trouble.

Paul Michael's picture

Got my etrade paperwork today. Everything went smoothly and they actually credited my $25 despite me not providing paperwork. But I did call and hassle them first.

Guest's picture
Guest

I opened my account online last week, transfered $1 into the account electronically. Supposedly the paperwork will come in the mail, otherwise I really have no way of checking on the status since I've gotten no other info whatsoever. Will have to let you know what happens!

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Guest

While I don't doubt the people who had bad experience with Etrade, I am writing to say perhaps I am the one person who DID have a good experience. I opened an account online and, despite the fact htey were a little slow (took 2 weeks to get all documents in the mail) I got the $25 bonus. Also, I sent an email to confirm my account was open and I would have the bonus, and a customer rep actually called me back. So, not bad getting $25 just for depositing $1.

Guest's picture
Guest

i tried to open an account there, and i got declined.
also, ive had a horrible experience with etrade (website not working, called, on hold for 25 minutes). i just dont know if an online account is worth all this trouble.
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