How to Open an E-Trade Bank Account

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E-Trade makes it easy for you to open a bank account, because that is a great source of revenue for the company. E-Trade offers virtually every type of account that your local bank offers, and it provides you with an electronic method of keeping track of your account's activities. Most people have existing securities trading accounts with E-Trade before they open their bank accounts, but others do so without having such an account.

Go to E-Trade's website (see link in References) and click on “Open An Account,” which is located on the top right-hand corner of the home page. That will take you to a new page where you can apply for an account. Go to the bottom of the listing “Banking” and see the three different types of accounts they offer. Then click on “more” to see the full array of banking accounts the company offers. E-Trade offers complete savings, money market and checking accounts, as well as certificates of deposit and Visa credit cards.

Find the type of account that you would like to open, then click “learn more” to find out the features, minimums and costs. Once you have decided on the type of account you would like to open, click on “Apply."

Comply with E-Trade's request for information before you apply for a specific account. Aside from your name, you must provide your complete residential address, date of birth and your Social Security number.. Also, you should be prepared to show them proof of identity such as a driver's license or other ID that has been issued either by the state or federal government. Finally, you need to disclose if you are subject to backup withholding. If you are, then there is a prompt that will provide a form that you must complete and mail to them.

Click on “apply now” to make your application. If you are already an E-Trade customer, enter your user ID and password to avoid having to fill out a long form. Otherwise, complete the form on the screen, then press “Continue,” and choose they type of account you wish to open.

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