E-Trade - $25 Bonus Still Alive
E-Trade is still running their $25 promotion for simply opening a Complete Savings account with them. This is the same promotion that they have been running for well over a year now. In fact, I took advantage of the $25 bonus back in February 2007. I admit that I only opened the account back then for the bonus, and only planned to leave $1 in there. The joke was on me - within a few months, it turned into my most oft-used account.
All you need is $1 to open the account and earn the bonus. There is no hard credit inquiry when opening the account, nor are there any monthly fees. Here are a couple other reasons why I like my E-Trade account:
- Lightning fast transfers - if you submit a request to transfer money into the account, it will credit later the same business day. Most other banks take 3-4 days. If I’m pulling directly from another interest-bearing account (such as FNBO Direct), I take advantage of the same-day posting by initiating the transfer (from within E-Trade) on a Friday morning. The money will post to E-Trade on Friday evening, but will not actually leave the other bank until Monday morning. This allows you to double-dip on interest over the weekend. Yay!
- Competitive interest rates - E-Trade was one of the last banks to drop their rates below 5% (and then below 4%) after the Fed’s numerous slash-and-burn sessions. They were also one of the first banks to actually raise their rates this year. While the current rate of 3.30% APY is not jaw-dropping, it is competitive.
Though I’ve had some ups and downs with E-Trade, it has become my favorite savings account overall (of the eight accounts I currently have open!). I’m not sure how long the $25 bonus offer will be valid, but given E-Trade’s history, I suspect it will remain active for some time to come. Heck, the fine print on the offer page mentions that the account must be opened by 12/31/07. Perhaps it’s a typographical error?
Anyway, if you want a quick $25, opening the account is painless.
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