How to Link Your Bank to ETRADE

Linking your bank account to ETRADE is one of the first steps you need to complete before you can add money and start investing. The process is simple, and ETRADE gives you multiple ways to connect your bank securely.

In this guide, you will learn how to link your bank to ETRADE using the mobile app, verify your account, and avoid common mistakes when setting up your funding account.

How to Link Your Bank to ETRADE Through the App

To begin the process, open the ETRADE app and follow these steps:

1. Tap Menu in the bottom-right corner of the screen.
2. Select Pay & Transfer.
3. Tap Transfer Money.

You will see several options, including transfers, bill pay, wires, direct deposit, and other banking features. Since you want to connect an external bank account, choose the transfer option.

On the transfer screen, look for Add an External Account and tap it.

This is where ETRADE will give you two different verification methods:

• Instant Verification
• Manual Verification

Choose Your Bank Verification Method

When you link your bank to ETRADE, you can choose between a faster automatic connection or a traditional verification process.

Instant Verification

Instant verification allows you to connect your bank account within minutes. You simply log in to your bank through the secure connection inside the ETRADE app.

Once your bank confirms your information, your account is linked and you can usually transfer money the same day.

Manual Verification

Manual verification is another option if you do not want to connect through automatic login.

With this method, you enter your:

• Bank routing number
• Bank account number

ETRADE will then send two small test deposits to your bank account, usually less than one dollar each. After you receive them, you return to the app and enter the exact amounts to confirm ownership.

This method can take up to three business days.

For most users, instant verification is the easiest way to link your bank to ETRADE because it is faster and avoids waiting for test deposits.

Start the Instant Verification Process

To continue with instant verification:

1. Tap Instant Verification.
2. Select Securely Add Account.
3. ETRADE will send you a verification code by text message.
4. Enter the six-digit code and continue.

ETRADE may ask you again whether you want to automatically link your account or manually add it. Select the automatic option.

Next, agree to the transfer terms and conditions, then tap continue.

Find and Select Your Bank

ETRADE supports thousands of financial institutions, so finding your bank should be straightforward.

You can:

• Scroll through the available bank list
• Use the search bar to type your bank’s name

After finding your bank, select it and continue.

You will then see a message explaining that ETRADE from Morgan Stanley needs permission to access your account information.

Is It Safe to Link Your Bank to ETRADE?

Many people wonder whether it is safe to link your bank to ETRADE because it requires logging into your bank account.

The important thing to understand is that ETRADE does not receive or store your bank username and password.

Instead, the login process happens directly through your bank. ETRADE uses a secure connection service, such as Yodlee, to verify that you own the account and create the connection.

Your banking credentials are shared with your bank, not with ETRADE.

This type of secure connection is commonly used across the financial industry by many major investment platforms.

Log In to Your Bank Account

After selecting your bank:

1. You will be redirected to your bank’s login page.
2. Enter your banking credentials as you normally would.
3. Select the account you want to connect.

Your bank may show multiple accounts, such as:

• Checking accounts
• Savings accounts
• Credit cards

Choose a checking or savings account for your ETRADE connection.

Never Link a Credit Card to Your Investment Account

When you link your bank to ETRADE, make sure you select a real bank account and not a credit card.

Using a credit card to fund investments means you would essentially be investing with borrowed money. Credit card interest rates can often exceed 20% annually, making it extremely difficult for any investment strategy to overcome those costs.

Brokerage accounts are designed to work with checking and savings accounts, so those are the correct options to use.

Authorize the Connection

After choosing your account, you will see an authorization page.

This explains that ETRADE and its connection provider may access information such as:

• Account details
• Account holder information
• Transaction information
• Bank account numbers

This access is necessary to allow future deposits and withdrawals.

Tap Authorize to continue.

You will then return to the ETRADE app, where your selected bank account will appear.

Tap Submit to complete the process.

Your Bank Account Is Now Linked

After submitting the information, ETRADE will show a confirmation message letting you know that your external funding account has been added.

Congratulations! Your bank account is now connected to ETRADE, and you can begin transferring money into your brokerage account.