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E*Trade Bank to Merge into Morgan Stanley Private Bank


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Morgan Stanley bought E*Trade a while ago, with E*Trade being the poor man's Morgan Stanley and E*Trade Bank being the poor man's Morgan Stanley Private Bank. They're getting around to merging the banks. It looks like E*Trade Bank will have the Morgan Stanley name. Now's your chance to bank with Morgan Stanley, even if you only have $1.

 

Link:  https://us.etrade.com/l/f/bank-merger

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18 hours ago, Wander907 said:

Wonder if they will come out with an amex cobranded card (a new one at a lower level?)

There's that Morgan Stanley Amex Platinum card.  It's possible to get the $700 rebated by having something like $30,000 spread in two accounts plus $5,000 per month in any type of direct deposits/ACH. A lot of hoops to jump through for one overpriced card.

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A couple days ago I decided I wanted a Morgan Stanley Private Bank poor man's checking account, for when they absorb E*Trade Bank. I logged onto E*Trade and applied. It took two days to process until the account showed when I logged on. After that I transferred a small amount of money from my brokerage account to fund it.

I believe they inquire on Chexsystems for checking accounts. I try to keep inquiries low on Chex, but I "needed" the poor man's account. ;)

Edited by Burgerwars
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8 hours ago, Wander907 said:

had no idea this company existed.  Learn something new everyday on here.

The two main ones are Chexsystems and Early Warning. Long story, but I learned the hard way you can open too many bank accounts in a short period of time. It can bite you. There's a Chexsystems forum here.

Edited by Burgerwars
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