E*Trade is a full-service financial firm that offers a comprehensive range of brokerage and banking products and services, including business checking accounts. As opposed to individual accounts that can be applied for and opened online, business accounts must be done by paper application. Account holders often find it useful to have brokerage and checking accounts within the same firm to make seamless and immediate transfers, as well as for simplified bookkeeping.
Banking Features
E*Trade's business banking accounts offer corporations, sole proprietorships, partnerships, associations, nonprofits and LLCs free online bill pay and alerts, deposit and check images, and balances within a fully secure Internet system. E*Trade also offers 24/7 customer service, with representatives who are aware of all product offerings and service matters. Unlike personal checking accounts, business accounts do not pay interest on unused balances.
Free Transfers
E*Trade provides free transfer services between business checking and brokerage accounts up to $100,000 per day, as well as between accounts at other banks. Those transfers made among accounts within E*Trade are processed immediately, which gives account holders the ability to place same-day brokerage orders funded by quick transfers from checking accounts, for example. E*Trade also provides the ability to schedule regular, automatic inbound transfers to investment accounts to steadily build portfolio value.
ATM Fee Refunds
Those $3 charges can add up when account holders typically make withdrawals by automated teller machine. To mitigate this widespread banking practice, E*Trade offers unlimited refunds of these fees when you make withdrawals from any bank's ATM within the United States. Refunds are credited automatically, which eliminates any customer follow-up calls or paperwork requirements.
Security
E*Trade offers its checking account customers digital security identification, which makes hacking or unauthorized access impossible. This is achieved through advanced virus protection and state-of-the-art firewall systems. The firm also permits customers to sign up for secure online document delivery, which prevents mail theft and loss of sensitive information. Customers can activate customized smart alerts that automatically send emails and texts for some or all transactions, providing an extra layer of verification and instantaneous reporting.
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