Offer at a glance
- Maximum bonus amount:
- Availability: Targeted, terms state ‘To take advantage of this offer, you must be the original recipient of the offer email from Morgan Stanley Private Bank.’
- Direct deposit required: Yes, two direct deposits of $1,000+
- Additional requirements: See below
- Hard/soft pull: Unknown
- ChexSystems: Yes, but approves if frozen
- Credit card funding: Unknown
- Monthly fees: None
- Early account termination fee: Unknown
- Household limit: None
- Expiration date: December 15, 2024
Contents
The Offer
- E*Trade is offering a $250 bonus when you open a new Checking or Max-Rate Checking account and complete the following requirements:
- Make at least 2 qualifying direct deposits, each of $1,000 or more, within 90 days of opening your new account
The Fine Print
- To take advantage of this offer, you must be the original recipient of the offer email from Morgan Stanley Private Bank.
- Offer is valid only for individual and jointly owned Max-Rate Checking or Checking accounts opened online. You are not eligible for this offer if you have or had owned or co-owned (joint) a Max-Rate Checking or Checking Account within the last 12 months from when you enroll in this offer. In the case of a joint account, only the primary account holder (the account holder who signed up first) is eligible for a bonus. Offer excludes non-U.S. residents, at time of account opening or post account opening address changes.
- This offer is only eligible to one newly opened Bank Max-Rate Checking OR Checking account funded within 30 days of account opening. You cannot open and enroll both account types at the same time. If you open both account types, your Max-Rate Checking Account will be auto-enrolled in the offer.
- Customers may only be enrolled in one checking offer at a time. Cannot be combined with any other checking offers
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
Checking has no monthly fees to worry about.
Early Account Termination Fee
Our Verdict
Shame that this is a targeted offer, think it’s definitely worth doing if you were targeted though. We would add this to our best bank bonuses if it wasn’t targeted.
Hat tip to readers bosox & zerosum
Useful posts regarding bank bonuses:
- A Beginners Guide To Bank Account Bonuses
- Bank Account Quick Reference Table (Spreadsheet) (very useful for sorting bonuses by different parameters)
- PSA: Don’t Call The Bank
- Introduction To ChexSystems
- Banks & Credit Unions That Are ChexSystems Inquiry Sensitive
- What Banks & Credit Unions Do/Don’t Pull ChexSystems?
- How To Use Our Direct Deposit Page For Bank Bonuses Page
- Common Bank Bonus Misconceptions + Why You Should Give Them A Go
- How Many Bank Accounts Can I Safely Open Within A Year For Bank Bonus Purposes?
- Affiliate Links & Bank Bonuses – We Won’t Be Using Them
- Complete List Of Ways To Close Bank Accounts At Each Bank
- Banks That Allow/Don’t Allow Out Of State Checking Applications
- Bank Bonus Posting Times
Did not receive a targeted email. Opened a checking account on 12/11/2024.
I did not receive a promotion enrollment email or confirmation email after doing real DDs.
Chatted and was told that promo is not attached my account and thus I am not eligible for the bonus.
So it seems it’s dead for non-targeted people now.
Got the error message too. This is the only concerning part but I knew it beforehand.
To take advantage of this offer, you must be the original recipient of the offer email from Morgan Stanley Private Bank.
Just received same message others are receiving about the error
I was not targeted but did the offer anyways. No bonus yet but this is positive
Correction about a cash bonus and your new checking account
You may have received an alert notifying you that you have met the preliminary qualifications and are on track to receive the $250 cash bonus that we offered when you opened your new checking account.
Unfortunately, this alert was sent in error when you completed your first qualifying direct deposit into your new checking account. In order for you to qualify for the $250 cash bonus, we still need to receive at least one additional qualifying direct deposit within 90 days of the date you opened the account.
I did two, so I assume I’m good
Got this notice but not the original alert. It’s worded differently
It says the alert was sent after the second qualifying direct deposit.
“Based on your recent direct deposits, you’ve met the preliminary qualifications”.
FYI – I was targeted and did 3 payroll DD’s.
The wait continues…..
I also got this email. I was targeted and completed 2x DDs in December (verified by logging in and seeing two transactions identified as “Direct Deposit” on the account activity page). I am going to do one more push just in case but feel like it should not be needed, seems like their IT systems may not be refined so may have to fight about this one later.
Got my first real DD today, got email confirmation same day that first $1k DD had posted to account. Logged on to check my account online, and the checking account is completely gone from online banking without a trace. WTF? I will have to call them later, did anyone have this happen?
Just called as I was one of the folks that applied before 12/15, went pending and approved after 12/15. Promo wasn’t attached. Rep said they would submit a case for it, but couldn’t promise anything. He seemed to understand this was an IT issue. He also said there have been other issues with this promo (after he did the research). He wasn’t familiar with the bank promo before though.
I assume you weren’t getting the emails about the Direct Deposits, nor had the message inside online banking showing you were enrolled, which is what prompted your call?
CericRushmore
Correct.
Received an email saying DD was triggered after ACH $1000 from Chase
Could someone please advise what are the DPs for the bonus for this account?
Does Fidelity work? Does Wise work?
Anyone who got a DD succssful email – used anything other than real DD?
Thanks in advance!
I received an mail after making ACH from Discover Savings.
Fidelity still “works“… my P2 got the DD email at 5 AM (Eastern) today for a DD that arrived yesterday.
imjimmy
Subj: Update: You’re one step closer to your cash bonus
Body: Great job! We have received one qualifying direct deposit of $1,000 or more into your new checking account. You just need to receive one additional qualifying direct deposit within 90 days from account opening to qualify for your $250 cash bonus.
There’s a comment search that will allow you to see DPs on those options.
I use Relay, a business account, and I received an email stating I was one step closer to receive $250.
Anyone got the bonus yet? Looks like ally worked as DD. May be fidelity too? Any other DP for DD?
They are going to make us sweat it out for the full term.
CK9 See you in mid-March!
The “Update: You’re one step closer to your cash bonus” email says:
“After the first 90 days from account opening, your status to receive the bonus will be assessed and processed, which can take up to 30 days. This means, if all requirements are met, you can expect your bonus to be deposited in your account within 120 days from account opening.“
Ok. Should I try Wise just to be safe?!!
Up to you. It’s going to be a long wait.
CK9
I used Fidelity CMA and pushed to Etrade. Nothing special. No trial deposits – I don’t recall if I used Finicity to link, but probably.
It’s possible their system is a little wonky and not sending out the notices. Still might pay out regardless.
imjimmy
Did you check the alert section on your account? It could appear there
Did three DD’s using real DD from employer. Got the “one step closer” email and nothing else. Already moved my DD to Valley for the next promo. They will probably get paid out at the same time. LOL.
Has anyone tried using spouse’s payroll for Direct Deposit at Etrade?
I tried that with NASA credit union, NASA CU rejected the deposits and I had to deal with HR. It was a mess.
I use Paychex direct deposit (which I can allocate/reallocate on my own without any additional involvement) for DDs for P2, P3, and P4 (wife and parents). No snags to date.
what’s that cost?
I’m thinking that they are splitting their real paycheck to send to P2-P4 account… and not having P2-P4 on payroll. Probably works at most banks, but some will reject it for non-matching info. Would be free… other than you need to have a job that uses Paychex.
J2🤓
Makes sense. I was thinking he signed up for Paychex.
not related to a real DD
but I have been using Chase Payroll to P2’s account for several institutions for the past 12 months and it has literally worked every single time.