Carrying a Checking Account Balance? Consider E-Trade
Moneywise on July 10th, 2008
E-Trade (NASDAQ: ETFC) currently offers a pretty good deal when compared to my favorite, Schwab Bank (NASDAQ: SCHW), for those checking account holders carrying $5,000 or more in their accounts. With an average daily balance of $5,000 you can earn 3.25% which blows away the 2.01% offered by Schwab. Both banks offer no ATM fees and free bill pay. Another benefit of E-Trade, as well, is its much cheaper brokerage fees, if you decide to use that feature as well. However, Schwab generally has a better reputation for customer service and a stronger financial base.
