Robinhood 1% DEPOSIT Match

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MillionaireMentality
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Robinhood 1% DEPOSIT Match

Post by MillionaireMentality »

[Moved to Investing - Theory, News & General subforum - moderator Kendall]

I'm seeing reports that the new 1% deposit match at Robinhood is now live as of today. Still waiting for an official confirmation from them.

You get an uncapped 1% match on new deposits into your Robinhood brokerage account. This is separate and different than the transfer promo or IRA match.

You need to keep the deposits with them for 2 years and can invest the money (doesn't need to sit in cash).

I believe you get paid monthly over 2 years for the deposit match and forfeit any unpaid match money only if you withdraw the funds before 2 years.

Anyone planning to take advantage of this?
aristotelian
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Re: Robinhood 1% DEPOSIT Match

Post by aristotelian »

Pretty cool. I took advantage of the IRA match and opened a brokerage account in the process. Right now I just have $4k of SGOV with $2k of free margin to pay for RH Gold. I currently don't have funds available to transfer in otherwise I would happily take advantage.
filbert
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Re: Robinhood 1% DEPOSIT Match

Post by filbert »

For me the juice is not worth the squeeze
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Wiggums
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Re: Robinhood 1% DEPOSIT Match

Post by Wiggums »

The Bonus Offer is only available to customers who have: (1) successfully opened a Robinhood taxable (non-retirement) individual brokerage account (“Brokerage Account”)…
"I started with nothing and I still have most of it left."
dataentryspecialist
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Re: Robinhood 1% DEPOSIT Match

Post by dataentryspecialist »

How do I explain to my wife that I’ve moved our life savings from Fidelity and Etrade to a service called “Robinhood”. Otherwise, at 1% bonus I might be in. Wish it were a straight payout, would make it easier to stomach for both of us. The cognitive dissonance between readily driving 3 exits more on fumes for 10c/gal cheaper gas and scoffing at a bonus worth 10 lifetimes of cheaper gas…
Leesbro63
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Re: Robinhood 1% DEPOSIT Match

Post by Leesbro63 »

dataentryspecialist wrote: Tue Jun 11, 2024 8:56 am How do I explain to my wife that I’ve moved our life savings from Fidelity and Etrade to a service called “Robinhood”. Otherwise, at 1% bonus I might be in. Wish it were a straight payout, would make it easier to stomach for both of us. The cognitive dissonance between readily driving 3 exits more on fumes for 10c/gal cheaper gas and scoffing at a bonus worth 10 lifetimes of cheaper gas…
If your life savings is worth more than $500,000, your wife may have a point.
Lyrrad
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Re: Robinhood 1% DEPOSIT Match

Post by Lyrrad »

Help Article is here: https://robinhood.com/us/en/support/art ... sit-boost/
Terms and Conditions is here: https://cdn.robinhood.com/assets/robinh ... eement.pdf

From Terms:
This Gold Membership feature is intended to reward net new deposit activity; as such, You will not be eligible for a boost if You withdraw existing funds and then subsequently re-deposit such funds. Attempts to do so will result in Robinhood denying the boost reward or rescinding an invalid boost reward.
From Help Article:
How does Robinhood track my net deposits?
We continue to track net deposits activity even when you’re not a Gold member. If you rejoin Gold and had more withdrawals than deposits since when you first started earning a boost, you need to deposit more in order to start earning again, otherwise you start at $0.

Why didn’t I earn a boost when I made my first deposit on Gold?
If you’ve recently withdrawn money from your brokerage account, you may get none or only part of your first 1% boost. This perk is intended to reward Gold customers for bringing net new deposits to Robinhood. Keep depositing to earn a 1% boost on your future deposits. Review the terms and conditions for details.
So, there seems to be a vague lookback period on withdrawals for the first "boost". Afterwards, net deposits since the first boost are counted.
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CommitmentDevice
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Re: Robinhood 1% DEPOSIT Match

Post by CommitmentDevice »

Robinhood aggressively nudges its customers towards single-stock trading, options trading, trading on margin, etc... all behaviors associated with lower returns, after fees and taxes. For this reason, I think they're a lousy company.

I took advantage of the IRA match and was glad I did it.

My household has close to $0 in taxable, so this new offer isn't applicable for us.
lvswts
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Re: Robinhood 1% DEPOSIT Match

Post by lvswts »

dataentryspecialist wrote: Tue Jun 11, 2024 8:56 am How do I explain to my wife that I’ve moved our life savings from Fidelity and Etrade to a service called “Robinhood”. Otherwise, at 1% bonus I might be in. Wish it were a straight payout, would make it easier to stomach for both of us. The cognitive dissonance between readily driving 3 exits more on fumes for 10c/gal cheaper gas and scoffing at a bonus worth 10 lifetimes of cheaper gas…
I took advantage of it. The payout was the full amount and immediately available (not over 2 years).
lvswts
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Re: Robinhood 1% DEPOSIT Match

Post by lvswts »

MillionaireMentality wrote: Tue Jun 11, 2024 8:13 am [Moved to Investing - Theory, News & General subforum - moderator Kendall]

I'm seeing reports that the new 1% deposit match at Robinhood is now live as of today. Still waiting for an official confirmation from them.

You get an uncapped 1% match on new deposits into your Robinhood brokerage account. This is separate and different than the transfer promo or IRA match.

You need to keep the deposits with them for 2 years and can invest the money (doesn't need to sit in cash).

I believe you get paid monthly over 2 years for the deposit match and forfeit any unpaid match money only if you withdraw the funds before 2 years.

Anyone planning to take advantage of this?
I took advantage of it. For me it was a great deal. The full 1% bonus was immediately available (not over 2 years).

Whoops. I guess I misunderstood the "Deposit match" Sorry.
Last edited by lvswts on Tue Jun 11, 2024 11:54 am, edited 1 time in total.
calwatch
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Re: Robinhood 1% DEPOSIT Match

Post by calwatch »

That was the transfer bonus (still ongoing for both taxable and retirement, taxable until the end of the month), this is for deposits. Just signed on to the Robinhood app, no indication of a deposit match. I actually am taking advantage of the below market interest rates and paying down a HELOC, so likely will be keeping a $100k margin loan throughout, the 1.25% delta in APR is more valuable to me.
lvswts
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Re: Robinhood 1% DEPOSIT Match

Post by lvswts »

lvswts wrote: Tue Jun 11, 2024 11:38 am
dataentryspecialist wrote: Tue Jun 11, 2024 8:56 am How do I explain to my wife that I’ve moved our life savings from Fidelity and Etrade to a service called “Robinhood”. Otherwise, at 1% bonus I might be in. Wish it were a straight payout, would make it easier to stomach for both of us. The cognitive dissonance between readily driving 3 exits more on fumes for 10c/gal cheaper gas and scoffing at a bonus worth 10 lifetimes of cheaper gas…
I took advantage of it. The payout was the full amount and immediately available (not over 2 years).
Whoops. I guess I misunderstood the "Deposit match" Sorry.
aristotelian
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Re: Robinhood 1% DEPOSIT Match

Post by aristotelian »

CommitmentDevice wrote: Tue Jun 11, 2024 10:43 am Robinhood aggressively nudges its customers towards single-stock trading, options trading, trading on margin, etc... all behaviors associated with lower returns, after fees and taxes. For this reason, I think they're a lousy company.

I took advantage of the IRA match and was glad I did it.

My household has close to $0 in taxable, so this new offer isn't applicable for us.
I have had Robinhood for about six months now since grabbing the IRA bonus. I have experienced zero "push" toward options or single stocks.
jhblegend
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Re: Robinhood 1% DEPOSIT Match

Post by jhblegend »

aristotelian wrote: Tue Jun 11, 2024 1:44 pm I have had Robinhood for about six months now since grabbing the IRA bonus. I have experienced zero "push" toward options or single stocks.
100% agree, the type of investors that spend time on a forum such as this should have not problem maintaining their investment philosophy while grabbing an extra 1% or 3%.
nalor511
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Re: Robinhood 1% DEPOSIT Match

Post by nalor511 »

jhblegend wrote: Tue Jun 11, 2024 2:15 pm
aristotelian wrote: Tue Jun 11, 2024 1:44 pm I have had Robinhood for about six months now since grabbing the IRA bonus. I have experienced zero "push" toward options or single stocks.
100% agree, the type of investors that spend time on a forum such as this should have not problem maintaining their investment philosophy while grabbing an extra 1% or 3%.
Yes I've also had zero issues buying and holding etfs, and not doing anything Else
placeholder
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Re: Robinhood 1% DEPOSIT Match

Post by placeholder »

CommitmentDevice wrote: Tue Jun 11, 2024 10:43 am Robinhood aggressively nudges its customers towards single-stock trading, options trading, trading on margin, etc... all behaviors associated with lower returns, after fees and taxes. For this reason, I think they're a lousy company.
I haven't been with them that long as I took the ira deal in april but I've heard nothing from them other than some emails that I glance at so far so not really pushing anything at all.
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sycamore
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Re: Robinhood 1% DEPOSIT Match

Post by sycamore »

nalor511 wrote: Tue Jun 11, 2024 2:38 pm
jhblegend wrote: Tue Jun 11, 2024 2:15 pm
aristotelian wrote: Tue Jun 11, 2024 1:44 pm I have had Robinhood for about six months now since grabbing the IRA bonus. I have experienced zero "push" toward options or single stocks.
100% agree, the type of investors that spend time on a forum such as this should have not problem maintaining their investment philosophy while grabbing an extra 1% or 3%.
Yes I've also had zero issues buying and holding etfs, and not doing anything Else
Ditto.

I logged on in late March a couple of times to verify dividend distributions. Haven't needed to login since so I haven't been subject to any nudging or pushing.
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CommitmentDevice
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Re: Robinhood 1% DEPOSIT Match

Post by CommitmentDevice »

sycamore wrote: Tue Jun 11, 2024 9:23 pm
nalor511 wrote: Tue Jun 11, 2024 2:38 pm
jhblegend wrote: Tue Jun 11, 2024 2:15 pm
aristotelian wrote: Tue Jun 11, 2024 1:44 pm I have had Robinhood for about six months now since grabbing the IRA bonus. I have experienced zero "push" toward options or single stocks.
100% agree, the type of investors that spend time on a forum such as this should have not problem maintaining their investment philosophy while grabbing an extra 1% or 3%.
Yes I've also had zero issues buying and holding etfs, and not doing anything Else
Ditto.

I logged on in late March a couple of times to verify dividend distributions. Haven't needed to login since so I haven't been subject to any nudging or pushing.
I agree and disagree. Once I got everything set up the way I wanted, Robinhood has been fine.
But getting it that way took some work.
By default, I was getting emails encouraging me to invest in a new IPO. It offered me a free randomly selected stock if I opened a taxable account. It incentivized me to open a margin account. While they stopped the confetti a few years ago, they used to have an on-screen celebration every time you made a trade. All of these things are navigable... emails can be turned off, and temptations can be avoided... these are just some downsides you should be aware of if you're considering opening a Robinhood account.
CletusCaddy
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Re: Robinhood 1% DEPOSIT Match

Post by CletusCaddy »

So this is 1% paid over two years which is only 0.5% return.

On top of that it’s taxable so for me it’s only 0.25% return.

Not worth the squeeze
nalor511
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Re: Robinhood 1% DEPOSIT Match

Post by nalor511 »

CletusCaddy wrote: Tue Jun 11, 2024 10:02 pm So this is 1% paid over two years which is only 0.5% return.

On top of that it’s taxable so for me it’s only 0.25% return.

Not worth the squeeze
It's free money. Free is free. I squeeze free lemons into lemonade.

I will not be doing the 1% at this time because RH doesn't track tax lots, and I'm not leaving a worthwhile amount in cash for 2 years.
Optimizer7
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Re: Robinhood 1% DEPOSIT Match

Post by Optimizer7 »

nalor511 wrote: Wed Jun 12, 2024 1:52 am
CletusCaddy wrote: Tue Jun 11, 2024 10:02 pm So this is 1% paid over two years which is only 0.5% return.

On top of that it’s taxable so for me it’s only 0.25% return.

Not worth the squeeze
It's free money. Free is free. I squeeze free lemons into lemonade.

I will not be doing the 1% at this time because RH doesn't track tax lots, and I'm not leaving a worthwhile amount in cash for 2 years.
They do track tax lots. They just don't make it visible to you. They only display your average cost basis.
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nps
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Re: Robinhood 1% DEPOSIT Match

Post by nps »

Anyone know whether recurring investments drawn from a linked bank account qualify for the deposit boost?
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whodidntante
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Re: Robinhood 1% DEPOSIT Match

Post by whodidntante »

I reckon I'll give them my investable cash flow if they keep this promo running. 7k every two weeks might be worth something some day. Might as well take the kicker.
nalor511
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Re: Robinhood 1% DEPOSIT Match

Post by nalor511 »

Optimizer7 wrote: Wed Jun 12, 2024 4:19 am
nalor511 wrote: Wed Jun 12, 2024 1:52 am
CletusCaddy wrote: Tue Jun 11, 2024 10:02 pm So this is 1% paid over two years which is only 0.5% return.

On top of that it’s taxable so for me it’s only 0.25% return.

Not worth the squeeze
It's free money. Free is free. I squeeze free lemons into lemonade.

I will not be doing the 1% at this time because RH doesn't track tax lots, and I'm not leaving a worthwhile amount in cash for 2 years.
They do track tax lots. They just don't make it visible to you. They only display your average cost basis.
Not good enough (for me). I've had cost basis flip back and forth between "correct" and "incorrect" multiple times, and if I can't see it, I can't confirm it. Nope.
CletusCaddy
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Re: Robinhood 1% DEPOSIT Match

Post by CletusCaddy »

nalor511 wrote: Wed Jun 12, 2024 12:21 pm
Optimizer7 wrote: Wed Jun 12, 2024 4:19 am
nalor511 wrote: Wed Jun 12, 2024 1:52 am
CletusCaddy wrote: Tue Jun 11, 2024 10:02 pm So this is 1% paid over two years which is only 0.5% return.

On top of that it’s taxable so for me it’s only 0.25% return.

Not worth the squeeze
It's free money. Free is free. I squeeze free lemons into lemonade.

I will not be doing the 1% at this time because RH doesn't track tax lots, and I'm not leaving a worthwhile amount in cash for 2 years.
They do track tax lots. They just don't make it visible to you. They only display your average cost basis.
Not good enough (for me). I've had cost basis flip back and forth between "correct" and "incorrect" multiple times, and if I can't see it, I can't confirm it. Nope.
I agree.

I’m certain I’ll make more than 0.25% in TLH from properly tracked tax lots.
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SteelyEyed
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Re: Robinhood 1% DEPOSIT Match

Post by SteelyEyed »

It's already in effect. I took advantage of the 3% bonus on IRA transfers.

A few days ago, I deposited $2,000 in order to meet the requirements to invest on margin, then bought an extra $1,000 of SGOV on at 0% margin interest. The deposit cleared yesterday and when when I was checking on it, I could see that the deposit qualified for the 1% bonus and that the next several months of interest payments were already scheduled.
johnanglemen
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Re: Robinhood 1% DEPOSIT Match

Post by johnanglemen »

If you withdraw before the 2 years are up, you effectively lose the whole bonus right? Using words like "vesting" makes it sound like that's not the case, but Example 3 here says that if you withdraw $900 after many months, the full 1% match on that amount ($9) will be deducted from your future boost payments. It seems like the only case in which you'd keep a proportionate amount is if you only ever make one deposit and then withdraw it early.
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nps
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Re: Robinhood 1% DEPOSIT Match

Post by nps »

johnanglemen wrote: Thu Jun 13, 2024 10:36 am If you withdraw before the 2 years are up, you effectively lose the whole bonus right? Using words like "vesting" makes it sound like that's not the case, but Example 3 here says that if you withdraw $900 after many months, the full 1% match on that amount ($9) will be deducted from your future boost payments. It seems like the only case in which you'd keep a proportionate amount is if you only ever make one deposit and then withdraw it early.
I think you're basically right. In most cases you would lose the whole bonus. But the bonus is paid to you proportionally, and because Robinhood says it's yours to keep once paid, you only lose the whole bonus if it can be taken out of the future payments owed to you.

It wouldn't have to be one deposit though to keep a proportionate amount. It could be many deposits and then withdraw all. Or don't withdraw but cancel Gold.

There are even more ways that you could keep less than a proportionate amount, but not lose it all.
VulpinePuppy
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Re: Robinhood 1% DEPOSIT Match

Post by VulpinePuppy »

Guess it may make sense to turn off DRIP, for the subtle arbitrage of the deposit boost?

Edit: I guess there isn’t a way to get the dividends auto deposited into bank account so it would be a withdrawal and count against. Guess there is no creative way to mess with this.
Last edited by VulpinePuppy on Fri Jun 14, 2024 5:29 am, edited 1 time in total.
Evergreen2022
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Re: Robinhood 1% DEPOSIT Match

Post by Evergreen2022 »

I really don’t get the hate on Robinhood, I’ve been a user of them since 2017 for brokerage only and they have been great. They were, I believe, the first company to offer no-cost trades, if anything they should be celebrated by moving the big guys into lower costs for the average investor. (I’m not getting into an order flow debate)

Of course, people use their service to buy risky stocks and options, but doesn’t that happen on every platform? Just as easily you can buy the VOO or VTI.

At the moment, if you are contributing several thousand dollars to a brokerage every month this really seems like a no-brainer…
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nps
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Re: Robinhood 1% DEPOSIT Match

Post by nps »

I don't hate Robinhood but tax lot visibility and SpecID selection without needing to chat with them to manually adjust would be really nice
j9j
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Re: Robinhood 1% DEPOSIT Match

Post by j9j »

nps wrote: Fri Jun 14, 2024 7:25 am I don't hate Robinhood but tax lot visibility and SpecID selection without needing to chat with them to manually adjust would be really nice
This is the biggest limitation for me and the reason I have not consolidated more funds to Robinhood.
nalor511
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Re: Robinhood 1% DEPOSIT Match

Post by nalor511 »

j9j wrote: Sat Jun 15, 2024 2:17 pm
nps wrote: Fri Jun 14, 2024 7:25 am I don't hate Robinhood but tax lot visibility and SpecID selection without needing to chat with them to manually adjust would be really nice
This is the biggest limitation for me and the reason I have not consolidated more funds to Robinhood.
Yes, this. Tax lots id/display/selection or no (significant) taxable dollars from me
abracadabra11
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Re: Robinhood 1% DEPOSIT Match

Post by abracadabra11 »

Too bad Robinhood doesn't do joint accounts.
Mr. Curious
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Re: Robinhood 1% DEPOSIT Match

Post by Mr. Curious »

nps wrote: Fri Jun 14, 2024 7:25 am I don't hate Robinhood but tax lot visibility and SpecID selection without needing to chat with them to manually adjust would be really nice
How does this work in practice?

I'm considering transferring a taxable account from another brokerage that has SpecID enabled.

If I want to sell shares, will Robin Hood give me tax lot details (a spreadsheet or something similar) via chat, and then I select which lots to sell?

Or do I need to refer back to my old brokerage records and tell them which lots to sell?
Lyrrad
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Re: Robinhood 1% DEPOSIT Match

Post by Lyrrad »

Mr. Curious wrote: Sun Jun 16, 2024 9:26 am
nps wrote: Fri Jun 14, 2024 7:25 am I don't hate Robinhood but tax lot visibility and SpecID selection without needing to chat with them to manually adjust would be really nice
How does this work in practice?

I'm considering transferring a taxable account from another brokerage that has SpecID enabled.

If I want to sell shares, will Robin Hood give me tax lot details (a spreadsheet or something similar) via chat, and then I select which lots to sell?

Or do I need to refer back to my old brokerage records and tell them which lots to sell?
No. They'll sell FIFO, I believe.

I've been assuming their upcoming "Advanced Web" feature will support Specific ID, but I don't think they've said exactly what's included.
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nps
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Re: Robinhood 1% DEPOSIT Match

Post by nps »

Mr. Curious wrote: Sun Jun 16, 2024 9:26 am
nps wrote: Fri Jun 14, 2024 7:25 am I don't hate Robinhood but tax lot visibility and SpecID selection without needing to chat with them to manually adjust would be really nice
How does this work in practice?

I'm considering transferring a taxable account from another brokerage that has SpecID enabled.

If I want to sell shares, will Robin Hood give me tax lot details (a spreadsheet or something similar) via chat, and then I select which lots to sell?

Or do I need to refer back to my old brokerage records and tell them which lots to sell?
They can give you tax lot details via chat. You can also get support for selling using SpecID via chat. So it can be done but it is way more work than at other brokerages.
nalor511
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Re: Robinhood 1% DEPOSIT Match

Post by nalor511 »

nps wrote: Sun Jun 16, 2024 1:56 pm
Mr. Curious wrote: Sun Jun 16, 2024 9:26 am
nps wrote: Fri Jun 14, 2024 7:25 am I don't hate Robinhood but tax lot visibility and SpecID selection without needing to chat with them to manually adjust would be really nice
How does this work in practice?

I'm considering transferring a taxable account from another brokerage that has SpecID enabled.

If I want to sell shares, will Robin Hood give me tax lot details (a spreadsheet or something similar) via chat, and then I select which lots to sell?

Or do I need to refer back to my old brokerage records and tell them which lots to sell?
They can give you tax lot details via chat. You can also get support for selling using SpecID via chat. So it can be done but it is way more work than at other brokerages.
They can also mess it up. IMO it is too risky to fuss around with selling at a broker that doesn't let you select tax lots. Again, I've had cost basis go bad multiple times at other brokers, and the only saving grace was that I could see when it happened.

Not worth it, my advice is to keep taxable out of RH until they show tax lots. You can't verify what you can't see. And unless you're planning on having them pull you a spreadsheet frequently, you can't see it. And settlement time just went to t+1, so you no longer have 2 days to reassign tax lots
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nps
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Re: Robinhood 1% DEPOSIT Match

Post by nps »

nalor511 wrote: Sun Jun 16, 2024 2:16 pm
nps wrote: Sun Jun 16, 2024 1:56 pm
Mr. Curious wrote: Sun Jun 16, 2024 9:26 am How does this work in practice?

I'm considering transferring a taxable account from another brokerage that has SpecID enabled.

If I want to sell shares, will Robin Hood give me tax lot details (a spreadsheet or something similar) via chat, and then I select which lots to sell?

Or do I need to refer back to my old brokerage records and tell them which lots to sell?
They can give you tax lot details via chat. You can also get support for selling using SpecID via chat. So it can be done but it is way more work than at other brokerages.
They can also mess it up. IMO it is too risky to fuss around with selling at a broker that doesn't let you select tax lots. Again, I've had cost basis go bad multiple times at other brokers, and the only saving grace was that I could see when it happened.

Not worth it, my advice is to keep taxable out of RH until they show tax lots. You can't verify what you can't see. And unless you're planning on having them pull you a spreadsheet frequently, you can't see it. And settlement time just went to t+1, so you no longer have 2 days to reassign tax lots
To me it is more of an annoyance than anything else. The upside of doing it via chat is that Robinhood saves chats automatically. Some of the reports here about fixing cost basis selection at other brokers hinged on the investor being diligent enough to have saved a screenshot. I think that's even worse.

If they screwed up a cost basis selection that was made in good order, their ability to correct it is not limited by the t+1 timeline.
nalor511
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Re: Robinhood 1% DEPOSIT Match

Post by nalor511 »

nps wrote: Sun Jun 16, 2024 2:54 pm
nalor511 wrote: Sun Jun 16, 2024 2:16 pm
nps wrote: Sun Jun 16, 2024 1:56 pm
Mr. Curious wrote: Sun Jun 16, 2024 9:26 am How does this work in practice?

I'm considering transferring a taxable account from another brokerage that has SpecID enabled.

If I want to sell shares, will Robin Hood give me tax lot details (a spreadsheet or something similar) via chat, and then I select which lots to sell?

Or do I need to refer back to my old brokerage records and tell them which lots to sell?
They can give you tax lot details via chat. You can also get support for selling using SpecID via chat. So it can be done but it is way more work than at other brokerages.
They can also mess it up. IMO it is too risky to fuss around with selling at a broker that doesn't let you select tax lots. Again, I've had cost basis go bad multiple times at other brokers, and the only saving grace was that I could see when it happened.

Not worth it, my advice is to keep taxable out of RH until they show tax lots. You can't verify what you can't see. And unless you're planning on having them pull you a spreadsheet frequently, you can't see it. And settlement time just went to t+1, so you no longer have 2 days to reassign tax lots
To me it is more of an annoyance than anything else. The upside of doing it via chat is that Robinhood saves chats automatically. Some of the reports here about fixing cost basis selection at other brokers hinged on the investor being diligent enough to have saved a screenshot. I think that's even worse.

If they screwed up a cost basis selection that was made in good order, their ability to correct it is not limited by the t+1 timeline.
At every other broker (fidelity, schwab, etrade, anyone who uses Apex, etc) I can pull a screenshot or spreadsheet any time I want. It takes about 30 seconds. So, no, it's not worse at other brokers. It's the same methodology as with RH, except with RH you can't pull the screenshot/spreadsheet yourself, which is worse, because you have to waste however much time it takes to connect the chat and/or convince CS to do what you want. A lot more than 30 seconds.

Everyone makes their own decisions.
aristotelian
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Re: Robinhood 1% DEPOSIT Match

Post by aristotelian »

SteelyEyed wrote: Wed Jun 12, 2024 3:41 pm It's already in effect. I took advantage of the 3% bonus on IRA transfers.

A few days ago, I deposited $2,000 in order to meet the requirements to invest on margin, then bought an extra $1,000 of SGOV on at 0% margin interest. The deposit cleared yesterday and when when I was checking on it, I could see that the deposit qualified for the 1% bonus and that the next several months of interest payments were already scheduled.
Supposedly they are offering $2k of free margin through some time in August. As of now I have $2154 in the account with $4121 of SGOV.

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