New E-Trade Savings Account

[risknothing]

What does everyone think about E-trade as a total relationship bank?

They just began offering the 5.05 Savings account and paired with the Checking account with free bill pay (I work for a bank that has terrible online ability without free bill pay and feel obligated to have my direct deposit account with them) I believe this may be one of the best offers on the web. How does everyone else feel? I wish GMAC Bank, who i currently use, would offer some sort of interest baring checking with free bill pay. I wonder if the 0.25% loss in return is outweighed by the bill pay feature.

[tinapbeana]

Originally Posted by risknothing

I wonder if the 0.25% loss in return is outweighed by the bill pay feature.

this is going to sound trite: depends on how much you spend on stamps/current bill pay ability and how much you're going to keep in the account.

seriously, figure out how much you're spending with your current setup & how much you're currently earning in interest (say in a given month). subtract the spending from the interest, and then calculate what you interest would have been at the other bank. if it's more than your adjusted figure, then it would be financially wise to switch.

[BTC]

I have a brokerage account with E-Trade. I've never had any problems and I'm also considering moving my checking account from Netbank to E-Trade.