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Whyohwhyoh... I remember your questions about the CD numbers. So you can confirm that eTrade gives you an ACH, fee-free option to transfer back at maturity? May I ask the mechanics about how you go about selecting this? i.e. can you select on their website? Do you have to call? Do they 'verify' the account at all, or is it only the one that it was taken from initially?

ETRADE allows ACH, fee-free, both in starting the CD and at maturity.

Problem is at maturity you must make a phone call to a human. Took about 10 minutes, and I did this about 2 weeks before maturity. Then at maturity I had the CD funds moved into an ETRADE account, which you can then go online and transfer the money to whatever account you have previously set-up. ETrade's marketing line is "QuickTransfer point, click, transfer!" (the exclamation point convinced me)

I think you can also have them send the CD funds directly to an external account, but since I was dealing with a human I wanted to keep things as simple as possible, with no hidden charges, so I had the human just order the money to be sent to my ETrade brokerage account (which I knew I could move money out of easily and quickly). My company uses ETrade for stock options and ESPP, so I already had an account setup with them and I move money regularly out of my brokerage account.

I almost forgot, my biggest issue with ETrade CD's. Once the CD matures your account info and history is gone. You cannot access it anymore. Here is ETrade's explanation from customer service after I complained my account was missing "As for the account missing, because the account is closed (cashed out) it is no longer accessible online. "

I don't know if this is normal or not, but since the whole transaction is online, no papaer statements, I would have hoped that online statements would be archived.

It is nowhere near as smooth as T-Bills, but if rates change enough I will probably research and try out another bank in parallel with ETrade.


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