Scottrade Bank® is an FDIC-insured online bank offering banking products to Scottrade, Inc. brokerage clients. Scottrade Bank® and Scottrade, Inc. are subsidiaries of Scottrade Financial Services, Inc.
Background
Official Name
Scottrade Bank®
Founded
2008
Scottrade Bank was formed in 2008 to provide FDIC-insured deposit accounts to Scottrade clients. In 2011, Scottrade Bank introduced retail banking products, including checking and savings accounts. In 2012, Scottrade Bank® Equipment Finance was established, enabling Scottrade Bank to grow its commercial loan base of products.
President
Joe Pope
Corporate Headquarters Location
St. Louis
Number of Associates
As of December 2012, Scottrade, Inc. employed more than 3,600 associates, including banking associates.
Accounts & Services
Fees
- No monthly maintenance fees
- Scottrade Bank does not charge for cash withdrawals made at any domestic ATM. With the ATM Fee Reimbursement Program, the bank refunds most ATM fees applied to clients’ accounts by ATM operators..
- Review a complete list of Scottrade Bank® Fees.
Account Types
- Interest Checking: $100 minimum deposit
- No Interest Checking: $100 minimum deposit
- Savings*: $100 minimum deposit
- Money Market*: $100 minimum deposit
- Certificate of Deposit (CD): $500 minimum deposit
Bank Services
- Free online bill pay
- Free direct deposit
- Free ACH funds transfers
- Free standard checks and ATM/debit card
- Free funds transfer between brokerage and bank accounts
- Free account linking for overdraft protection
*Federal law limits the number of certain withdrawals on any savings or money market account to six per month. ATM withdrawals are not subject to federal limits. See Scottrade Bank Account Agreement for details.