The Final, Definitive Thread on Brokerage Transfer Bonuses

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FunnelCakeBob
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by FunnelCakeBob » Sat Sep 15, 2018 1:27 pm

Allixi wrote:
Sat Sep 15, 2018 11:36 am
Do you really need a referral to get this $100 bonus for opening a Schwab brokerage account?
Nope. Just enter the offer code when you open the account.

tj
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by tj » Sat Sep 15, 2018 1:56 pm

FunnelCakeBob wrote:
Sat Sep 15, 2018 1:27 pm
Allixi wrote:
Sat Sep 15, 2018 11:36 am
Do you really need a referral to get this $100 bonus for opening a Schwab brokerage account?
Nope. Just enter the offer code when you open the account.
I would hold back, as Schwab sometimes has large bonus offers and if you opt for the $100 one, you won't be eligbile for a larger bonus to bring more funds. I learned the hard way that they only offer a bonus "once per lifetime"

Mike14
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Mike14 » Sat Sep 15, 2018 7:34 pm

When transferring to Vanguard, will they let you select the lots to transfer in?

zeugmite
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by zeugmite » Wed Sep 19, 2018 6:34 pm

Today I found out Merrill Edge has a $25k limit on daily withdrawal of settled cash when performed online (okay... have to call), and also a $50k daily limit on transferred in cash being made available (what?). Caveat emptor. Are other brokers equally ridiculous in setting limits? I know I've never hit such low limits with TDA.

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indexfundfan
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by indexfundfan » Wed Sep 19, 2018 7:36 pm

zeugmite wrote:
Wed Sep 19, 2018 6:34 pm
Today I found out Merrill Edge has a $25k limit on daily withdrawal of settled cash when performed online (okay... have to call), and also a $50k daily limit on transferred in cash being made available (what?). Caveat emptor. Are other brokers equally ridiculous in setting limits? I know I've never hit such low limits with TDA.
Did you get a check book? You can write any amount using the check. OR, you can also pull the money out from Merrill Edge from an external account.
My signature has been deleted.

zeugmite
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by zeugmite » Wed Sep 19, 2018 9:51 pm

indexfundfan wrote:
Wed Sep 19, 2018 7:36 pm
zeugmite wrote:
Wed Sep 19, 2018 6:34 pm
Today I found out Merrill Edge has a $25k limit on daily withdrawal of settled cash when performed online (okay... have to call), and also a $50k daily limit on transferred in cash being made available (what?). Caveat emptor. Are other brokers equally ridiculous in setting limits? I know I've never hit such low limits with TDA.
Did you get a check book? You can write any amount using the check. OR, you can also pull the money out from Merrill Edge from an external account.
I did not get a checkbook since I didn't intend to use it for daily transactions, but thanks for the suggestion. That would indeed give a "bank" account number for ACH pulls for withdrawals. Maybe that could also overcome the incoming limit via ACH pushes, maybe.

investor997
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by investor997 » Thu Sep 20, 2018 9:59 am

Merrill Edge update: I just received my $1000 bonus (9/17). The account was opened in February and funds were initially transferred in on 3/14, so call it 6 months and change.

student
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by student » Sun Sep 23, 2018 7:08 am

Merrill Edge has increased the bonus. https://www.doctorofcredit.com/merrill- ... vestments/

michaeljc70
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by michaeljc70 » Sun Sep 23, 2018 10:07 am

The Merrill reward is decent, but I really don't need or want to open a checking account. It adds another step to get the reward and another step to close down when I move on. The reward drops by 1/3 if you don't open the checking. I've been able to move my stuff since April, but haven't done anything yet due to poor rewards, too many hoops or limitations (some exclude IRAs).

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Earl Lemongrab
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Earl Lemongrab » Sun Sep 23, 2018 11:00 am

michaeljc70 wrote:
Sun Sep 23, 2018 10:07 am
The Merrill reward is decent, but I really don't need or want to open a checking account. It adds another step to get the reward and another step to close down when I move on. The reward drops by 1/3 if you don't open the checking. I've been able to move my stuff since April, but haven't done anything yet due to poor rewards, too many hoops or limitations (some exclude IRAs).
Edge works best is you have Preferred Rewards anyway, so I've had that for a long time. The credit card rewards boost is worth it.
This week's fortune cookie: "Your financial life will be secure and beneficial." So I got that going for me, which is nice.

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whodidntante
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by whodidntante » Sun Sep 23, 2018 11:07 am

Earl Lemongrab wrote:
Sun Sep 23, 2018 11:00 am
michaeljc70 wrote:
Sun Sep 23, 2018 10:07 am
The Merrill reward is decent, but I really don't need or want to open a checking account. It adds another step to get the reward and another step to close down when I move on. The reward drops by 1/3 if you don't open the checking. I've been able to move my stuff since April, but haven't done anything yet due to poor rewards, too many hoops or limitations (some exclude IRAs).
Edge works best is you have Preferred Rewards anyway, so I've had that for a long time. The credit card rewards boost is worth it.
Sometimes you can get a $100 or $300 bonus for opening the checking account, which is a nice little bump. I don't know if there are checking offers available right now.

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whodidntante
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by whodidntante » Sun Sep 30, 2018 1:51 pm

It looks like E*TRADE has slightly increased their cash bonus offering. It's better than the last one I did with them, anyway.
https://us.etrade.com/what-we-offer/how ... d=95341849

$250 for 25k, not bad.

drk
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by drk » Sun Sep 30, 2018 1:57 pm

It looks like they didn't make the same change for retirement accounts. That's good for my regret minimization (I just transferred my Roth IRA a few months ago) but disappointing for new transfers.

Ron Ronnerson
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Ron Ronnerson » Sun Sep 30, 2018 3:22 pm

drk wrote:
Sun Sep 30, 2018 1:57 pm
It looks like they didn't make the same change for retirement accounts. That's good for my regret minimization (I just transferred my Roth IRA a few months ago) but disappointing for new transfers.
Are your referring to the link that whodidntante posted? When I click on it, the page lists options to open either a brokerage or retirement account. So, I’d think both types of accounts are eligible, though I’m not positive. Could someone clarify? I’m interested in the offer to transfer $25k for $250.

drk
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by drk » Sun Sep 30, 2018 3:51 pm

Ron Ronnerson wrote:
Sun Sep 30, 2018 3:22 pm
drk wrote:
Sun Sep 30, 2018 1:57 pm
It looks like they didn't make the same change for retirement accounts. That's good for my regret minimization (I just transferred my Roth IRA a few months ago) but disappointing for new transfers.
Are your referring to the link that whodidntante posted? When I click on it, the page lists options to open either a brokerage or retirement account. So, I’d think both types of accounts are eligible, though I’m not positive. Could someone clarify? I’m interested in the offer to transfer $25k for $250.
Oh, you're right. Since I've been looking, E*Trade has segregated investment and retirement account bonuses. Well, there goes my regret minimization!

Ron Ronnerson
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Ron Ronnerson » Sun Sep 30, 2018 4:00 pm

drk wrote:
Sun Sep 30, 2018 3:51 pm
Ron Ronnerson wrote:
Sun Sep 30, 2018 3:22 pm
drk wrote:
Sun Sep 30, 2018 1:57 pm
It looks like they didn't make the same change for retirement accounts. That's good for my regret minimization (I just transferred my Roth IRA a few months ago) but disappointing for new transfers.
Are your referring to the link that whodidntante posted? When I click on it, the page lists options to open either a brokerage or retirement account. So, I’d think both types of accounts are eligible, though I’m not positive. Could someone clarify? I’m interested in the offer to transfer $25k for $250.
Oh, you're right. Since I've been looking, E*Trade has segregated investment and retirement account bonuses. Well, there goes my regret minimization!
Sorry about the regret aspect! Thanks for clarifying. Much appreciated.

Mike14
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Mike14 » Mon Oct 01, 2018 7:59 pm

Does Merrill Edge automatically close the account when transferring out all shares, or does one have to send in a request?
How does one pay the account closing fees? Will they withhold shares and sell them prior to closing? What if there aren't enough shares to cover the closing cost?

Are they charging the close out fee for each account (CMA, IRA Trad, IRA Roth)?
What's the difference between their "full account transfer fee" and "Closeout fee"?

Thank you

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klneutral
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by klneutral » Sat Oct 13, 2018 10:20 am

It looks like PNC Brokerage is offering a $1,500 bonus for opening a new account and maintaining a $500,000 balance.

Sounds good on the surface. Anyone have any experience with it or knowledge about the details?

michaeljc70
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by michaeljc70 » Sat Oct 13, 2018 10:53 am

klneutral wrote:
Sat Oct 13, 2018 10:20 am
It looks like PNC Brokerage is offering a $1,500 bonus for opening a new account and maintaining a $500,000 balance.

Sounds good on the surface. Anyone have any experience with it or knowledge about the details?
Interesting. Thanks for pointing that out. It includes IRAs. I might do it. I hate the hassle of going to a branch and listening to a sales pitch, but for $1500, probably worth it. There is a PNC a mile from my house. I also haven't been seeing a lot of good offers that include IRAs and don't require linked accounts.

arf30
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by arf30 » Sat Oct 13, 2018 6:35 pm

I got a targeted offer from BoA for $300 to open a checking account - would it be possible to also open a Merrill Edge account with 200k to get an additional $600 bonus, then move another 200k a few months later for the $900 bonus for existing ME customers, then open a Premium Rewards card for the $500 bonus? I was thinking about doing something similar with Chase, but this would be hard to pass up at $2,300. Only question is if I can split off 200k chunks of my Vanguard account to get the separate bonuses.

drk
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by drk » Sat Oct 13, 2018 7:33 pm

arf30 wrote:
Sat Oct 13, 2018 6:35 pm
I got a targeted offer from BoA for $300 to open a checking account - would it be possible to also open a Merrill Edge account with 200k to get an additional $600 bonus, then move another 200k a few months later for the $900 bonus for existing ME customers, then open a Premium Rewards card for the $500 bonus? I was thinking about doing something similar with Chase, but this would be hard to pass up at $2,300. Only question is if I can split off 200k chunks of my Vanguard account to get the separate bonuses.
Yes, you can.

SJR
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by SJR » Sat Oct 13, 2018 10:22 pm

Mike14 wrote:
Wed Sep 12, 2018 11:40 pm
SJR wrote:
Thu Aug 23, 2018 9:51 pm
An interesting personal experience that I had:

I signed up with a specific offer which included up to $150 in transfer fee credits per account. TDA credited that together with the bonus on the day the assets hit. No proof was required. Thus far the sending brokerage hasn't charged a fee (but at most, it would be $25 per account based on their fee schedule).

That's an extra $300 over the bonus I was due to receive.
Are you saying you were able to get the bonus for each account type (Roth, Traditional, Taxable) that you transferred, or just the transfer fee credits were awarded for each account type?
Yes, I was able to get a bonus for multiple accounts. I actually had 2 joint accounts, one individual account, and a Roth. Each one received $150 in transfer credits and a bonus based on the assets within that account. I was told that the limit is 2 accounts per type, so 2 joint, 2 individual, etc. Worked out pretty well all in all.

SlowMovingInvestor
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by SlowMovingInvestor » Sun Oct 14, 2018 10:38 am

michaeljc70 wrote:
Sat Oct 13, 2018 10:53 am
klneutral wrote:
Sat Oct 13, 2018 10:20 am
It looks like PNC Brokerage is offering a $1,500 bonus for opening a new account and maintaining a $500,000 balance.

Sounds good on the surface. Anyone have any experience with it or knowledge about the details?
Interesting. Thanks for pointing that out. It includes IRAs. I might do it. I hate the hassle of going to a branch and listening to a sales pitch, but for $1500, probably worth it. There is a PNC a mile from my house. I also haven't been seeing a lot of good offers that include IRAs and don't require linked accounts.
Do they accept ACATs transfers ? I'm wary of moving a regular account there because I'm not sure I can trust their cost basis transfers etc., but an IRA might be worth it.

michaeljc70
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by michaeljc70 » Sun Oct 14, 2018 10:46 am

SlowMovingInvestor wrote:
Sun Oct 14, 2018 10:38 am
michaeljc70 wrote:
Sat Oct 13, 2018 10:53 am
klneutral wrote:
Sat Oct 13, 2018 10:20 am
It looks like PNC Brokerage is offering a $1,500 bonus for opening a new account and maintaining a $500,000 balance.

Sounds good on the surface. Anyone have any experience with it or knowledge about the details?
Interesting. Thanks for pointing that out. It includes IRAs. I might do it. I hate the hassle of going to a branch and listening to a sales pitch, but for $1500, probably worth it. There is a PNC a mile from my house. I also haven't been seeing a lot of good offers that include IRAs and don't require linked accounts.
Do they accept ACATs transfers ? I'm wary of moving a regular account there because I'm not sure I can trust their cost basis transfers etc., but an IRA might be worth it.
I'm not sure on that. In looking at the fees, they charge $9.99 per online trade. They have some no-cost funds, but I haven't looked at those. Since I don't expect any changes in the 12 months I need to keep it there, do I even need to look further into fees/free funds? If I had to make a change it would be at my yearly rebalancing and would be minimal changes (4 fund portfolio). One thing to note is there is a $125 termination/transfer out fee so take that off the bonus if you don't plan on staying at PNC.

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Earl Lemongrab
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Earl Lemongrab » Sun Oct 14, 2018 11:11 am

michaeljc70 wrote:
Sun Oct 14, 2018 10:46 am
One thing to note is there is a $125 termination/transfer out fee so take that off the bonus if you don't plan on staying at PNC.
Or leave $5 if they support that low of a balance. Or you can move it somewhere that will cover the fee.
This week's fortune cookie: "Your financial life will be secure and beneficial." So I got that going for me, which is nice.

Mike14
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Mike14 » Sun Oct 14, 2018 5:55 pm

Earl Lemongrab wrote:
Sun Oct 14, 2018 11:11 am
michaeljc70 wrote:
Sun Oct 14, 2018 10:46 am
One thing to note is there is a $125 termination/transfer out fee so take that off the bonus if you don't plan on staying at PNC.
Or leave $5 if they support that low of a balance. Or you can move it somewhere that will cover the fee.
Would it make sense to start a list for which brokers reimburse the fees (and how much), whether they'll reimburse from several brokers in case of consolidating several accounts, whether it will stack with the bonus offer, and if one has to ask up front before transferring?

Mike14
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Mike14 » Sun Oct 14, 2018 5:59 pm

SJR wrote:
Sat Oct 13, 2018 10:22 pm
Yes, I was able to get a bonus for multiple accounts. I actually had 2 joint accounts, one individual account, and a Roth. Each one received $150 in transfer credits and a bonus based on the assets within that account. I was told that the limit is 2 accounts per type, so 2 joint, 2 individual, etc. Worked out pretty well all in all.
It's my understanding that joint vs individual counts as a different customer. But did you get the bonus twice for the same account type, e.g. twice for taxable that were both jointly held?

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