If you already have a savings account with them, why not go with this Etrade $25 Checking bonus.
From the website:
As of 5/11/2007, the Annual Percentage Yield (APY) of the Max-Rate Checking Account is 3.25% for balances of $50,000 or more, 3.25% for balances of $5,000 – $49,999, and 0.50% for balances of less than $5,000. Rates are subject to change daily and fees may reduce earnings. A $100 minimum deposit is required to open a new account. Account holders must maintain a minimum average monthly balance of $5,000 to avoid a $15 monthly fee. This fee will be waived if the account holder 1) sets up a direct deposit of $200 or more per month, 2) maintains at least $50,000 in combined E*TRADE Bank deposits, or 3) maintains a combined balance of $50,000 or more in linked E*TRADE Securities, E*TRADE Bank accounts, and employee stock plan accounts (including vested in-the-money options, stock option plan shares, ESPP shares, and released restricted stock), or executes at least 30 stock or options trades during a calendar quarter.
