Connect a bank account through E*TRADE's transfer settings

To move money in and out of E*TRADE, you need to link at least one bank account. E*TRADE calls this a linked bank account or external account. You set this up in your account settings, not through your bank — E*TRADE handles the connection on their end.

The process takes about 10 to 15 minutes to start, but E*TRADE will not let you transfer money right away. They verify the account first by sending two small test deposits (usually under $1 each) to your bank account. You then confirm the amounts in E*TRADE, which proves you control that bank account. This verification step typically takes three to five business days.

Once verified, you can transfer money between that bank account and E*TRADE whenever you need to. You can link multiple accounts — checking, savings, or accounts at different banks — and switch between them for each transfer.

Key Takeaways

  • Log into E*TRADE, go to Account Settings, then Transfers, and select "Add External Account" to start linking a bank account.
  • E*TRADE will ask for your bank's routing number, your account number, and the account type (checking or savings).
  • Two small test deposits arrive at your bank within one to three business days; you confirm the amounts in E*TRADE to complete verification.
  • After verification, transfers between your bank and E*TRADE usually settle within one to three business days depending on your bank.
  • You can link accounts at different banks and remove a linked account at any time through the same settings menu.

Step-by-step: adding the account in E*TRADE

Start by logging into your E*TRADE account on their website or mobile app. On the website, click your name or profile icon in the top right corner, then select "Account Settings." On the mobile app, tap the menu icon (three horizontal lines) and look for "Settings" or "Account Settings."

Once in Account Settings, find the section labeled "Transfers" or "Funding." This is where E*TRADE keeps all the tools for moving money. Click "Add External Account" or "Link Bank Account" — the exact wording varies slightly between the website and app, but the button will be clearly labeled as the way to add a new account.

E*TRADE will ask you to enter your bank's routing number and your account number. The routing number is a nine-digit code that identifies your bank; you can find it on the bottom left of any check, or call your bank and ask. Your account number appears on your checks and statements. You will also choose whether the account is checking or savings.

Double-check both numbers before submitting. A wrong routing number or account number will cause the verification deposits to go to the wrong place, and you will have to start over.

Confirming the test deposits and completing verification

After you submit your bank details, E*TRADE sends two small deposits to your account — usually between 1 and 99 cents each. These arrive within one to three business days. Your bank will show them as deposits from "E*TRADE" or "E*TRADE CLEARING LLC."

Once the deposits land in your bank account, go back to E*TRADE's transfer settings. You will see a prompt asking you to confirm the amounts of the two test deposits. Enter the exact amounts (for example, $0.23 and $0.47) and submit. E*TRADE verifies these amounts match what they sent, which confirms you own the bank account.

Verification usually completes within a few hours of you confirming the amounts, though it can take up to one business day. E*TRADE will send you an email or notification when the account is verified and ready to use. At that point, you can transfer money between your bank and E*TRADE.

What happens if verification fails

If the test deposits do not arrive, or if you enter the wrong amounts when confirming them, E*TRADE will flag the account as unverified. The most common reason is a typo in the routing number or account number — the deposits went somewhere else.

If this happens, you can delete the unverified account and add it again with the correct information. E*TRADE does not charge a fee for this. straightforward go back to your transfer settings, find the account that failed, and select "Remove" or "Delete." Then add the account again, making sure the routing and account numbers are correct.

If you are unsure of your routing number, call your bank directly or log into your bank's website and look for it in the account details or FAQ section. Do not guess — a wrong number will cause the same problem again.

Transferring money once the account is verified

Once your bank account is verified, you can transfer money in either direction. To transfer money from your bank to E*TRADE (called a deposit), go to Transfers and select "Transfer Funds In" or "Deposit." Choose the linked bank account you want to transfer from, enter the amount, and confirm.

To transfer money from E*TRADE back to your bank (called a withdrawal), select "Transfer Funds Out" or "Withdraw." Choose the linked bank account you want to transfer to, enter the amount, and confirm.

Most transfers settle within one to three business days, depending on your bank and the time of day you submit the request. Transfers submitted after 4 p.m. Eastern Time on a weekday, or on weekends or holidays, usually do not process until the next business day. E*TRADE does not charge a fee for transfers to or from a linked bank account.

Linking multiple accounts and removing accounts

You can link as many bank accounts as you want to a single E*TRADE account. This is useful if you have checking and savings accounts at the same bank, or accounts at different banks. Each one goes through the same verification process with test deposits.

When you make a transfer, E*TRADE lets you choose which linked account to use. This gives you flexibility — for example, you might deposit from your checking account but withdraw to your savings account.

To remove a linked account, go to your transfer settings, find the account you want to remove, and select "Delete" or "Remove." E*TRADE will ask you to confirm. Once removed, you cannot use that account for transfers, but you can add it back later if you change your mind. Removing an account does not affect your E*TRADE holdings or any trades you have made.

Frequently Asked Questions

How long does it take to link a bank account?

The initial setup takes about 10 to 15 minutes. Verification takes three to five business days because E*TRADE waits for the test deposits to reach your bank, then you confirm the amounts. After that, the account is ready to use when ready.

Can I transfer money before the account is verified?

No. E*TRADE locks transfers until the account is verified. This is a security measure to make sure you own the bank account. Once you confirm the test deposit amounts, transfers become available within a few hours.

What if I enter the wrong test deposit amounts?

E*TRADE will reject the verification and the account will remain unverified. You can delete it and add the account again with the correct routing and account numbers. There is no fee or penalty for trying again.

Can I link a joint bank account?

Yes. As long as you have access to the account and can see the deposits and confirm the amounts, you can link it. The account does not have to be in your name alone.

What if my bank does not show the test deposits?

Contact your bank and ask if the deposits arrived. If they did not, the routing or account number was likely wrong. Delete the account in E*TRADE and add it again with the correct information. If your bank confirms the deposits arrived but you do not see them, wait one more business day — some banks post deposits with a delay.