Should I Apply For An E*Trade Account? | Ramblings of an e-trader

Friday, 4 May 2007

Should I Apply For An E*Trade Account?

I have been thinking that I am paying way too much of service charge and commission for withdrawal of Paypal funds and that I should open a US bank account with E*Trade. Remember, I previously wrote them an email. Well, maybe it's now time to act on it.

With my current withdrawal option, besides losing on the exchange rate, I at least will save the 3.4% +USD0.30 Paypal service charge if I have a US bank account since withdrawing to a US bank account is free.

And even if I apply now, my account, from processing, approval and receiving the account kit, will only be active in one month's time. So should I or should I not? Is it worth the hassle? Or will there be any implications or new regulations that will affect our accounts some time in the future?

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