I know some places locally will not take cards and will take only local checks. I'm not sure if etrade qualifies as "local". In addition, you get to call or email them if there's any problem: no one to speak with face-to-face if that kind of thing is important to you. I'm not sure what their policy is on ATM use (fees, etc.). Finally, etrade is not buying ads in the high school yearbook or sponsoring Little League teams -- unless you live near their HQ. Your local bank is.

That said, I do almost all of my banking (but not my equity investing) with a local credit union. They're not next door, but it's been pretty painless to deal with them.

I like using a credit union, also.

The people's bank.

When they make money - it's the users who profit.

(Spoken as one who, for 39 years, has been a shareholder in a bank - shares bought for $4.25 or so, worth $96.00 last week, and paid about 3 - 3.5% dividend throughout).

Kelton,

If you'd like all of your accounts in one location/institution, make sure that the institution is covered by CDIC and that the total amount is under the CDIC covered amount.

And that each one of those assets is of the type covered by CDIC.

Otherwise, if they die/disappear/move offshore speedily - you may be left crying the blues.

In fact - if the situation is internet-based, what assurance have you that they have a U.S. presence, so you might have some comeback in case they might fade away?

ole joyful

I too like the services of a credit union, though mine is about 400 miles away. It saves me ever having to go in...I hate going into banks...just a waste of time to park, and then go stand in line, or waste gas waiting in line for the drive through.

I'm considering Scottrade for an on line broker. Normal trades were $7, the last I heard.

OJ,
I may be wrong, but here in the US I think what you might be referring to is FDIC approved, and it is just up to $100,000 per account, I think. I've never worried too much about it, since I have little actual 'money'.

Sue

chemocurl,

You're right - FDIC. I was thinking of "Canadian Deposit Insurance Corporation".

By the way - I've done a little inquring, and as far as I can find out, Scottrade isn't operational in this neck of the woods.

Just think though, if you'd bought a major Canadian bank stock a few years ago on the TSE - you'd have made about 25% gain.

Plus another 25% as exchange rate went from Canadians getting about 69 cents U.S. per Canadian dollar then - to currently about 87 cents now.

It's mild here, these days - snow pretty well all melted.

But - I put a wash on the line on Tues., it wasn't supposed to rain till about Wed. noon - but it rained while I was gone, late Tues.

The wash is still there.

Enjoy your weekend.

ole joyful

Note to Chemocurl: If I remember correctly, FDIC insurance is not $100,000 per account; it is $100,000 per account *holder* per bank. So if you have several accounts at the same bank, the $100,000 limit applies to all of them combined. If you want to insure more than $100,000, you need to use more than one bank.

Alpha,

Thanks. That does make a difference to some I'm sure, though not to me.

OJ,
Yes, don't a lot of us wish our foresight was a good as our hindsight? I know I do.

Sue...

As to the OP, I don't see any reason not to go all e-trade. Altho, there may be better mutual fund choices out there. I like vanguard because of their low fees. But i have several cds at e-t in addition to my stocks.

Note, however, that they recently started charging minimum-balance fees for checking. I closed my checking acct for that very reason. Have a checking acct at the local bank, where i can go and deal w/ a person if necessary. Also can deposit cash, if the need arises (not sending cash thru the mail!).

I have been using TD for four years now. I don't pay any fees with a platinum account.