Morgan Stanley Private Bank Review 2022 Bankrate
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Our articles, interactive tools, and hypothetical examples contain information to help you conduct research but are not intended to serve as investment advice, and we cannot guarantee that this information is applicable or accurate to your personal circumstances. Any estimates based on past performance do not a guarantee future performance, and prior to making any investment you should discuss your specific investment needs or seek advice from a qualified professional.
Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover.
Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover.
Max-Rate Checking, another offering, is an interest-bearing account that requires no minimum opening deposit, though account holders must maintain an average balance of at least $5,000 to avoid a $15 monthly fee. Other ways to fee can be waived include having a direct deposit of $200 or more a month or by making at least 30 stock or options trades each quarter.
Morgan Stanley Private Bank doesn't have its own ATM network, but Max-Rate Checking customers can use any ATM fee free, and the bank will credit any fees charged by the ATM owner/operator back to them.
Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover.
We assign a score to each type of account and its features, weigh them carefully based on importance to account holders and determine an overall score. .
Advertiser Disclosure
We are an independent, advertising-supported comparison service. Our goal is to help you make smarter financial decisions by providing you with interactive tools and financial calculators, publishing original and objective content, by enabling you to conduct research and compare information for free - so that you can make financial decisions with confidence.Our articles, interactive tools, and hypothetical examples contain information to help you conduct research but are not intended to serve as investment advice, and we cannot guarantee that this information is applicable or accurate to your personal circumstances. Any estimates based on past performance do not a guarantee future performance, and prior to making any investment you should discuss your specific investment needs or seek advice from a qualified professional.
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The offers that appear on this site are from companies that compensate us. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within the listing categories. But this compensation does not influence the information we publish, or the reviews that you see on this site. We do not include the universe of companies or financial offers that may be available to you.Editorial disclosure
All reviews are prepared by our staff. Opinions expressed are solely those of the reviewer and have not been reviewed or approved by any advertiser. The information, including any rates, terms and fees associated with financial products, presented in the review is accurate as of the date of publication. Morgan Stanley Private BankMorgan Stanley Private Bank Review 2022
Karen Bennett is a consumer banking reporter at Bankrate. She uses her finance writing background to help readers learn more about savings and checking accounts, CDs, and other financial matters. Updated November 10, 2022 Bankrate logoThe Bankrate promise
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At a glance
3.8 Bankrate Score Checking Savings About Bankrate Score Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.Overview
Deposit products offered by Morgan Stanley Private Bank are worth considering if you’re looking to consolidate your banking and investing at one financial institution.Highlights
24/7 Customer Service Free Checking Compare offers Advertiser DisclosureAdvertiser Disclosure
We are an independent, advertising-supported comparison service. Our goal is to help you make smarter financial decisions by providing you with interactive tools and financial calculators, publishing original and objective content, by enabling you to conduct research and compare information for free - so that you can make financial decisions with confidence.Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover.
How We Make Money
The offers that appear on this site are from companies that compensate us. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within the listing categories. But this compensation does not influence the information we publish, or the reviews that you see on this site. We do not include the universe of companies or financial offers that may be available to you. Member FDIC Savings Account 3.00 % APY Info Bankrate Savings rating = 5/5 Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services. Info Bankrate Savings rating = 5/5 Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services. Min. balance for APY Offer detailsGoldman Sachs Bank USA
Member FDIC Savings Account Details 3.00 % APY Min balance for APY Earn up to 4.00% APY with Marcus Referred. Terms Apply Member FDIC Savings Account 3.00 % APY Info Bankrate Savings rating = 5/5 Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services. Info Bankrate Savings rating = 5/5 Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services. Min. balance for APY Offer detailsGoldman Sachs Bank USA
Member FDIC Savings Account Details 3.00 % APY Min balance for APY Earn up to 4.00% APY with Marcus Referred. Terms Apply Member FDIC Savings Account 3.00 % APY Info Bankrate Savings rating = 5/5 Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services. Info Bankrate Savings rating = 5/5 Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services. Min. balance for APY Offer detailsSoFi
Member FDIC Savings Account Details 3.00 % APY Min balance for APY No fees, earn high APY on all your checking and savings balances, plus up to $250 cash bonus with qualifying direct depositOverall
Morgan Stanley Private Bank offers a savings account, an interest-bearing checking account and a free checking account.Pros
There are no minimum deposit requirements to open a savings account. There are no overdraft fees for debit purchases. Customers have check-writing privileges, and the first checkbook is complimentary. Customer service representatives are available 24/7.Cons
More competitive APYs are available elsewhere. The requirements to avoid fees are steep compared to other interest-bearing checking accounts. A limited number of deposit products are available.Morgan Stanley Private Bank bank products
Savings Checking 2.8 Bankrate ScoreMorgan Stanley Private Bank savings overview
The Premium Savings Account offers the same low APY on all balance tiers. There is no minimum deposit required to open a Premium Savings Account, but the account must be funded within 30 days to remain open.Pros
There are no monthly service fees or minimum deposit requirements.Cons
Higher APYs are available at many other banks. Compare Offer Advertiser DisclosureAdvertiser Disclosure
We are an independent, advertising-supported comparison service. Our goal is to help you make smarter financial decisions by providing you with interactive tools and financial calculators, publishing original and objective content, by enabling you to conduct research and compare information for free - so that you can make financial decisions with confidence.Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover.
How We Make Money
The offers that appear on this site are from companies that compensate us. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within the listing categories. But this compensation does not influence the information we publish, or the reviews that you see on this site. We do not include the universe of companies or financial offers that may be available to you. Member FDIC Savings Account 3.00 % APY Info Bankrate Savings rating = 5/5 Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services. Min balance for APY Offer details Offer detailsGoldman Sachs Bank USA
Member FDIC Savings Account Details 3.00 % APY Min balance for APY Earn up to 4.00% APY with Marcus Referred. Terms Apply 4.9 Bankrate ScoreMorgan Stanley Private Bank checking overview
Morgan Stanley Private Bank offers a noninterest-bearing checking account known simply as Checking. It’s the account on which this review was based. The account charges no monthly fee, requires no minimum opening deposit, and comes with a debit card as well as a complimentary checkbook.Max-Rate Checking, another offering, is an interest-bearing account that requires no minimum opening deposit, though account holders must maintain an average balance of at least $5,000 to avoid a $15 monthly fee. Other ways to fee can be waived include having a direct deposit of $200 or more a month or by making at least 30 stock or options trades each quarter.
Morgan Stanley Private Bank doesn't have its own ATM network, but Max-Rate Checking customers can use any ATM fee free, and the bank will credit any fees charged by the ATM owner/operator back to them.
Pros
A free checking account option is available. Morgan Stanley provides unlimited ATM fee refunds with Max-Rate Checking. There are no overdraft fees for debit purchases.Cons
Cash deposits aren’t accepted. Compare Offer Advertiser DisclosureAdvertiser Disclosure
We are an independent, advertising-supported comparison service. Our goal is to help you make smarter financial decisions by providing you with interactive tools and financial calculators, publishing original and objective content, by enabling you to conduct research and compare information for free - so that you can make financial decisions with confidence.Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover.
How We Make Money
The offers that appear on this site are from companies that compensate us. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within the listing categories. But this compensation does not influence the information we publish, or the reviews that you see on this site. We do not include the universe of companies or financial offers that may be available to you. Member FDIC Checking Account 2.50 % APY Info Bankrate Checking rating = 5/5 Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services. To open To avoid fees Offer details Offer detailsSoFi
Member FDIC Checking Account Details 2.50 % APY To open To avoid feesBank experience
If you are on the hunt for an online bank, Morgan Stanley Private Bank is worth considering. Customers looking to open deposit accounts can do so on the E-Trade website, as the deposit accounts were previously offered from E-Trade until it was acquired by Morgan Stanley in 2020. The mobile app scores highly in Apple’s App Store and on Google Play. The app allows users to make routine banking transactions, such as depositing checks, paying bills and keeping tabs on account balances. You can also chat with customer service within the app. Customer service representatives are also available by phone 24/7.About Morgan Stanley Private Bank
Morgan Stanley Private Bank offers savings and checking accounts that were previously available from E-Trade Bank, the banking unit of E-Trade Financial Corp., which was acquired by Morgan Stanley in October 2020. Consumers may want to consider the bank if they use Morgan Stanley for investments and want to benefit from having investment and banking accounts in the same place.Review methodology
With so many financial institutions to choose from, it can be hard to know who to trust. Bankrate’s ever-growing list of bank and credit union reviews is updated regularly. Our editorial team analyzes and reviews each institution across deposit products such as savings accounts, checking accounts, certificates of deposit (CDs) and money market accounts (MMAs). Banks are rated by important factors such as offered interest rates, fees, minimum balance requirements, access to funds and more.We assign a score to each type of account and its features, weigh them carefully based on importance to account holders and determine an overall score. .