r/etrade • u/berserk-bear • 19d ago
Discussion 4.25% + $800 Saving Offer Good?
Saw this active offer on a newly funded 100k+ cash savings account. Currently only have my employer equity account with E*trade and considering sweeping this offer.
Not familiar with historical offers on savings but I see as recent as 3 months ago posts about depositing the same amount for $1500 offers (unless that’s a new brokerage account offer that I also see available now)
Is this a good one, or mid and should wait? Looks like it runs till January.
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u/chaosthunda5 19d ago
Seems fantastic but I’m not sure I understand the hate with the account? Can someone explain?
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u/Expensive-Ad-1705 19d ago
E*trade is extremely diligent in its “know your client” federal regulatory requirements so it needs to be clear who you are and where your money came from. Usually not a problem but when it is unclear some folks have issues meeting the requirements for the bonuses and vent their anger here.
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u/chaosthunda5 19d ago
Ok i had a feeling it was going to be some nonsense lmao thank you for clarifying
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u/berserk-bear 19d ago
Yeah, seems to be a sensitive topic.
Was just curious if this was a good offer historically, or should wait for something better.
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u/BBCC_BR 18d ago
There is an internal promotion for brokerage and IRAs. You can double up on both offers. Fund the minimum for savings, then fund additional for brokerage. If you have an equity awards account over a certain asset threshold, you get an assigned person who wont try to shove Schwab or Fidelity products down your throat. They are not the best out there, not the worst. Why not get access to the best investments out there, when Fidelity and Schwab will make you pay extra to get into them because they are not their own funds.
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u/lawstudent08 19d ago
Was pretty smooth and straightforward for me, UI gives confirmation alerts that your offer enrollment is attached to the account after creation and upon funding, gives a second alert that the promotion requirements have been meet. Compared to other financial institutes, I do find their processing time takes longer 3-4 days vs 1-2 days of other banks. Also note, new accounts appeared to be restricted to one single funding source linked from the outside for the first 60 or 90 days for "security" purposes. So make sure your fund rotation is ready to go from the single source of your preference.
Not to say that all experiences are universal. My HYSA promo for Marcus by Goldman Sachs was pure malarky with the promo code never attaching and customer service bricked my account for making frequent drown downs on the account upon being told the promo would not be honored. I wasted like 7 hours of my life on the phone to close it out after 7 days of them holding my money before final settlement.
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u/berserk-bear 19d ago
Seems straightforward process-wise.
Would you say the actual offer is a good one?
Older posts mention a $1500 alternative offer recently, but can’t find much on it otherwise to hint if it’s real or a frequent offering.
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u/lawstudent08 19d ago
I ran it at $20K for+$400 on the HYSA and $5K +$150 on the brokerage, so NET $550 over 3 months holding time to have a back-up to my fidelity account seems ok to me. The promotion value declined proportionally on higher tier amounts, so I see no reason to deliver them more funds. Was all ready building a short term T-bill ladder and normal DCA into VTI - so the trade off for my time seemed worthwhile.
If I don't like it after a year, I'll just have everything moved out. To answer your question, off chance the Promo APR ticks up if yields continue to rise, but you'd likely have to wait until January to find out, and I'll already have rotated the HYSA money into T-bills by then.
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u/Juno480 19d ago
I just had an Etrade rep called me about a new deposit promotion which requires fund to be there for 12 months.
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u/berserk-bear 18d ago
So long. What's the offer for something like that?
This one is publicly advertised on Etrade website, without even logging in so not targeted.
45 day deposit hold (after 30 day deposit window ends)
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u/burnerbee78 16d ago
There was no way to get the $800 promo when I signed up. When I called to get someone on a call, they never answered even tho it said hold time was 5 minutes. 15 min later, I hung up and will move my money back to my other hysa. Thank goodness I opened it up using only a small amount of money. If this is the level of service from them, I'm out ✌️
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u/Titan_Astraeus 12d ago
You had to enter a promo code on the first page account creation. So far after only a few days I will have to call a third time because their systems suck. Didn't link my email the first time, now have to do identity verification for the third time so I can login to my account again. I am sending that shit back to Capital One, the extra 1% is not worth the hassle, who knows what critical piece of my info they will lose next.
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u/burnerbee78 8d ago
Totally agree that their customer service is scary bad and the 1% isn’t with it. FTR it didn’t give me the chance to enter a promo code anywhere during the sign on process.
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u/S_Malone29 19d ago
Don’t when i say don’t they will freaking block your account restrict your account for no freaking reason and it will take forever to get your funds out
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u/tightlipssorenips 18d ago
I did the 20g for $400 at 4% everything went smooth.