Has anyone dealt with E*Trade Bank. Specifically the E*Trade Bank 1 Year CDs paying 5.1% APY. I have been using HSBC Online Savings, which is great, but they lowered interest from 5.05% APY to 4.5% APY with the half point drop by the Fed. I assume most other variable rate online savings will shortly follow suit making it pointless to move money around. Any fees for opening account, penalties for early withdrawal/minimum balance, or other problems with Etrade Bank. We have a local credit union which is currently paying 5.25% on an 11 month Share Certificate, but they charge a refundable on closing $10 to open an account so that the effective interest for amounts under 10,000 is lower than online savings if the account is never closed.