You need to connect a bank account to E*TRADE to move money in and out

E*TRADE does not hold your everyday checking account. Instead, you link an external bank account—one you already have at another bank—so you can transfer money between E*TRADE and that account. The process takes a few minutes to start, but E*TRADE verifies the account by making two small test deposits, which takes one to two business days. Only after those deposits clear can you move larger amounts.

The account you link must be in your name and at a U.S. bank. E*TRADE accepts most major banks and credit unions, though some smaller institutions may not be in their system. You will need your account number and routing number, which you can find on a check or by logging into your bank's website.

Key Takeaways

  • You add a checking account to E*TRADE through the Transfers section of your account, not through a separate process.
  • E*TRADE verifies new accounts by depositing two small amounts (usually under $1 each) that you must confirm within 10 days.
  • Until verification is complete, you can initiate transfers but cannot receive money from that account into E*TRADE.
  • The account must be in your name at a U.S. financial institution, and you need the routing number and account number to add it.

Where to find the account linking tool in E*TRADE

Log into your E*TRADE account on the website or mobile app. On the website, click Accounts in the top menu, then select Transfer Funds. On the mobile app, tap the menu icon (three horizontal lines), then go to Accounts and select Transfer Funds.

You will see a list of any bank accounts you have already linked. To add a new one, click Add Bank Account or Link New Account—the exact wording varies slightly between the website and app, but the button is always in the same section. E*TRADE will ask you to choose whether you are adding a checking account, savings account, or money market account. Select Checking Account if that is what you are linking.

The information E*TRADE needs from you

E*TRADE will ask for the name of your bank, your account number, and your routing number. The routing number is a nine-digit code that identifies your specific bank branch. You can find both numbers on the bottom left of any check you have from that account, or by logging into your bank's website and looking for account details or statements.

E*TRADE also asks you to confirm the account holder's name (which should match the name on your E*TRADE account) and whether the account is a personal account or a business account. If the names do not match exactly, E*TRADE will reject the link. If you have changed your legal name since opening your E*TRADE account, update your E*TRADE profile first before attempting to link a bank account.

How E*TRADE verifies the account with test deposits

After you submit the account information, E*TRADE sends two small deposits to your bank account—usually between 1 and 99 cents each. These deposits arrive within one to two business days. You will see them in your bank account with a description that includes a code, typically something like "E*TRADE VERIFY 123456".

Log back into E*TRADE and return to the Transfer Funds section. E*TRADE will prompt you to enter the two deposit amounts you received. You have up to 10 days to confirm them. Once you enter both amounts correctly, E*TRADE marks the account as verified. At that point, you can transfer money both into and out of E*TRADE using that bank account.

If you do not confirm the deposits within 10 days, the account link expires and you must start over. If you cannot find the deposit amounts in your bank statement, contact E*TRADE support—they can tell you what the amounts were, or they can send the deposits again.

Transfer limits and timing after verification

Once your account is verified, you can transfer money between your checking account and E*TRADE. The amount you can transfer depends on your account type and history with E*TRADE. New accounts typically have lower daily and monthly limits that increase over time. You can see your current limits in the Transfer Funds section.

Transfers out of E*TRADE to your bank account (withdrawals) usually arrive within one to three business days. Transfers into E*TRADE from your bank account (deposits) may take longer, sometimes up to five business days, because they go through the ACH system, which is the network that moves money between banks. Weekend and holiday delays are common—a transfer initiated on Friday may not arrive until Tuesday or Wednesday.

What to do if the account link fails

If E*TRADE rejects your account information, the most common reasons are a mistyped routing number, an account number that does not match the bank you selected, or a name mismatch between your bank account and your E*TRADE account. Double-check the routing number against your bank's website, not just a check, because some checks print the wrong number.

If the account is in a different name than your E*TRADE account—for example, a joint account or an account under a former name—E*TRADE will not accept it. You must link an account that is solely in your name and matches your E*TRADE profile exactly. If you need to update your name on your E*TRADE account, do that first through the Account Settings section.

If you have tried multiple times and the link still fails, contact E*TRADE support by phone or through the message center in your account. They can see whether the bank is in their system and whether there is a technical issue preventing the link.

Removing or updating a linked bank account

You can remove a linked account at any time from the Transfer Funds section. Click the account you want to remove, then select Delete or Remove. E*TRADE will ask you to confirm. Once removed, you cannot transfer money using that account until you link it again and complete verification.

To change the account information for an existing link—for example, if your account number changed—you must remove the old account and add the new one as a separate link. E*TRADE does not allow you to edit an existing account's details.

Frequently Asked Questions

How long does it take to link a checking account to E*TRADE?

The initial setup takes a few minutes. The verification process—waiting for the test deposits and confirming them—takes one to two business days for the deposits to arrive, plus a few minutes for you to confirm them. You can start using the account for transfers as soon as verification is complete, usually within two to three business days of starting the process.

Can I link a joint checking account?

No. E*TRADE requires that the linked account be in your name only. If the account is held jointly with another person, E*TRADE will reject it. You must link an account where you are the sole account holder.

What if I do not receive the test deposits?

Check your bank statement carefully—the deposits may appear under a different description than you expect. If you still cannot find them after two business days, contact E*TRADE support. They can resend the deposits or tell you what the amounts were so you can search your statement more carefully.

Can I link a savings account instead of a checking account?

Yes. E*TRADE allows you to link checking accounts, savings accounts, and money market accounts. The process is identical—you just select the account type when you add the account. Transfers work the same way regardless of which type you link.

Is there a fee to link a bank account to E*TRADE?

No. E*TRADE does not charge a fee to link an account or to transfer money between your linked account and E*TRADE. Some banks may charge their own fees for outgoing ACH transfers, so check with your bank if you are concerned.