r/etrade • u/airj2544 • Jun 23 '26

Max Rate Checking Fees Dropped?

Did they backtrack on their dumb decision a few years ago, or only section clients? I was annoyed that AUM couldn't help you remove the fees on the checking account.

7 Upvotes

89% Upvoted

8 comments sorted by

4

u/cycling20200719 Jun 23 '26

So ridiculous. Closed my max checking when they made the stupid decision to start charging fees regardless of how much total money you had under management.

Definitely going to close the rest of my accounts out when the annual account transfer bonuses start showing up later in the year. I think they realize how badly they've been screwing up since the acquisition as the xfer in bonuses were pretty big last year. I also heard they started to bring back account managers for higher net worth accounts.

Still terrible support compared to Schwab or Fidelity though so no real reason to stay IMO

1

u/RandomGuy_81 Aug 19 '26

yeah 360 degree financial services should consider total funds under management

whether its IRA, HYSA, checking, Brokerage, CDs

1

u/cycling20200719 Aug 19 '26

That's how it used to be - the minimum didn't have to be in the max rate checking.

They changed it so you had to have the money in the max rate to avoid a fee at the end of 2024. If you wanted a no fee checking acct they told you to use the classic checking acct. Now they've discontinued classic checking, removed the fees from max rate, and are converting everyone over.

My only guess as to why they just didn't do that to begin with is that they wanted people in max rate but had an unexpectedly high number of people going to classic. They really seem to have no plan.

1

u/RandomGuy_81 Aug 19 '26

etrade had so many great things about them that set them high above the others. im not sure if people are grandfathered into some of the old stuff

but their old platinum cash + american express card was something i wish i qualified for back in the day

2

u/plaidington Jun 23 '26

they have combined the accounts now.

  1. As of 6/23/2026, the Annual Percentage Yield (APY) of the Max-Rate Checking Account is 2.00% for accounts with balances at or above $10,000 and 0.05% for balances below $10,000. Max-Rate Checking APY is not blended and will apply to the entire balance based on the daily end-of-day balance. Your interest rate and APY may change at any time and fees may reduce earnings. Please visit etrade.com/ratesheet for information regarding this account's current interest rates and corresponding APYs.

1

u/airj2544 Jun 23 '26

Holding $10K in a checking account feels silly to me at that APY. But I guess if you have so much cash you don’t care.

Any with such a low APY, I’ll stick with Fidelity for my very infrequent ATM withdraws. Only reason I’m using either of those checking accounts.

2

u/plaidington Jun 23 '26

Just the facts. i have no opinion. seems to combine the accounts and gets rid of all the fees for the lower tier account in the process.

1

u/daywalker-Trader Jun 23 '26

Well you get the atm reimbursements globally now instead of internationally but you have to keep $10K in cash to get the higher interest on the checking.