E*Trade Financial announced the launch of a "high-yield checking account", E*Trade Max-Rate Checking Account. The account starts with an APY (annual percetage yield) of 3.25%, and includes unlimited check writing, ATM fee refunds, online bill pay, and a Visa debit card. "Consumers want a high yield on their transactional cash but not at the expense of functionality," says MD Michael Curcio.

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