The Final, Definitive Thread on Brokerage Transfer Bonuses

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

Post by Earl Lemongrab » Wed Apr 25, 2018 11:20 am

motorcyclesarecool wrote:
Wed Apr 25, 2018 6:04 am
New question re: Merrill Edge / Bank of America...

My state has no B of A branches, although a neighboring state has some fairly easily accessible about a stone’s throw from the state line. I don’t see where BofA has any sort of internet-only account.
While BOA does have branches here, I opened the checking account to go with Preferred Rewards online. I funded the initial amount from credit card, as I recall.
This week's fortune cookie: "Your financial life will be secure and beneficial." So I got that going for me, which is nice.

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

Post by investor997 » Wed Apr 25, 2018 11:31 am

BofA is also offering a $100 new account bonus for checking accounts that may work for some. This is in addition to whatever ME is offering:

https://promo.bankofamerica.com/choosey ... ng1/offer/

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by MikeG62 » Tue May 01, 2018 9:17 am

Today I initiated process to rollover my former employers 401K (which was held at Fidelity) to a Fidelity Rollover IRA. Called Fidelity first to inquire about getting the $2,500 cash bonus. After putting me on hold for a few minutes and discussing with their promotions department, I was approved for the cash bonus. I was told the bonus will post to my account 60 days from today.

When I called I told them I was looking at other brokers to hold the Rollover IRA. Figured they should think there was a risk I'd open the account elsewhere to provide some incentive for me to keep the funds with Fidelity. Not sure if that made a difference or not, but thought it was the right strategy going in.

Just thought I'd share.
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Nate79 » Tue May 01, 2018 10:19 am

Within this month I've gotten two invitations for checking account bonuses as loyalty for places I already have accounts. One was Schwab who has a $100 bonus for depositing $10k into an existing checking account. The second was Bank of America, where I already had a credit card (that was opened with a $150 bonus) where they offered $300 to open a new checking account. I have yet to see these type of loyalty bonuses for brokerage accounts though.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by MichDad » Tue May 01, 2018 5:46 pm

I'm moving just over $100,000 into a new Schwab Roth IRA account. The Schwab representative has told me that they'll match any monetary offer by another firm so long as I can send them a link. I'd greatly appreciate it if fellow Bogleheads can point me to a current cash offer that matches our conditions.

Thank you in advance.

MichDad

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

Post by Earl Lemongrab » Tue May 01, 2018 7:23 pm

MichDad wrote:
Tue May 01, 2018 5:46 pm
I'm moving just over $100,000 into a new Schwab Roth IRA account. The Schwab representative has told me that they'll match any monetary offer by another firm so long as I can send them a link. I'd greatly appreciate it if fellow Bogleheads can point me to a current cash offer that matches our conditions.
What are you looking for? A good source is:

http://www.hustlermoneyblog.com/best-brokerage-bonuses/

For straight cash with 100k, the TD Ameritrade deal is probably the best at $500.

https://www.tdameritrade.com/offer/tdba ... index.html
This week's fortune cookie: "Your financial life will be secure and beneficial." So I got that going for me, which is nice.

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

Post by MichDad » Tue May 01, 2018 10:35 pm

Earl Lemongrab wrote:
Tue May 01, 2018 7:23 pm


For straight cash with 100k, the TD Ameritrade deal is probably the best at $500.

https://www.tdameritrade.com/offer/tdba ... index.html
This is perfect. Thank you very much!

MichDad

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

Post by Earl Lemongrab » Tue May 01, 2018 11:37 pm

MichDad wrote:
Tue May 01, 2018 10:35 pm
This is perfect. Thank you very much!
It has a one year holding period, but if you're just looking to move to a new brokerage and want to get a few bucks, then that doesn't matter much.
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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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by sdvan » Wed May 02, 2018 4:53 pm

I am considering moving IRA assets to Merrill for the bonus. But, primarily as a way to qualify for higher cash back on the BofA credit card. I have a few questions:

1. I assume that my first step is to move $200K of my IRA assets (I will move some from a Fidelity rollover IRA) to Merrill using the best link I can find? It looks like I just missed the $900 cash back offer and that the current offer is $600. But, I also see references to a $1000 offer. Is there anything other than the $600 offer outstanding now? What happens to my taxes on the bonus money at BofA?
2. Set up a BofA checking account at the same time as the asset transfer hopefully using the bonus code for an extra $100. If I'm going to do this, I might as well go all the way. I am self-employed so I'm not sure how (or if) I can get two direct deposits. Could I use an ACH from another bank?
3. Wait 3 months and then I will qualify for the Platinum Honors BofA Preferred Banking Rewards Program.
4. Apply for BofA Premium Rewards Credit Card. I should qualify for 2.62% cash back (3.5% on travel/dining) plus the other goodies.

I recognize that this thread is only pertaining to brokerage transfer bonuses which is covered by my #1 question. However, I thought that I would lay out my entire plan just in case someone here sees a flaw or is interested.

Thanks for any thoughts.

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

Post by whodidntante » Wed May 02, 2018 5:26 pm

sdvan wrote:
Wed May 02, 2018 4:53 pm
I am considering moving IRA assets to Merrill for the bonus. But, primarily as a way to qualify for higher cash back on the BofA credit card. I have a few questions:

1. I assume that my first step is to move $200K of my IRA assets (I will move some from a Fidelity rollover IRA) to Merrill using the best link I can find? It looks like I just missed the $900 cash back offer and that the current offer is $600. But, I also see references to a $1000 offer. Is there anything other than the $600 offer outstanding now? What happens to my taxes on the bonus money at BofA?
2. Set up a BofA checking account at the same time as the asset transfer hopefully using the bonus code for an extra $100. If I'm going to do this, I might as well go all the way. I am self-employed so I'm not sure how (or if) I can get two direct deposits. Could I use an ACH from another bank?
3. Wait 3 months and then I will qualify for the Platinum Honors BofA Preferred Banking Rewards Program.
4. Apply for BofA Premium Rewards Credit Card. I should qualify for 2.62% cash back (3.5% on travel/dining) plus the other goodies.

I recognize that this thread is only pertaining to brokerage transfer bonuses which is covered by my #1 question. However, I thought that I would lay out my entire plan just in case someone here sees a flaw or is interested.

Thanks for any thoughts.
Sounds reasonable to me. You don't have to do it all at once, but I would also open a travel rewards and a cash rewards card for the new account bonus. Cash rewards is also useful for ongoing spend at a grocery store (3.5%) or gas stations (5.25%). The cash rewards cards gives you a preferred rewards bonus on the new account bonus, which is nice. So you actually get $262, not $150. No such luck with their travel cards.

You can see some data points on what Bank of America interpreted as a direct deposit here.
https://www.doctorofcredit.com/knowledg ... of_America

Bank of America sometimes has great business account bonuses. I've seen as high as $2,500 depending on your desire to jump through hoops like opening a business line of credit, etc. These are generally in branch only and may depend on a banker offering you something. It would make sense to ask if you go in, and be prepared to flaunt your chops.

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

Post by JustinR » Mon May 07, 2018 10:07 pm

Do you initiate the transfer on the receiving firm's end or the sending firm?

If it's on the receiving firm's end, can you specify which lots you want to transfer?

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by drk » Mon May 07, 2018 10:14 pm

JustinR wrote:
Mon May 07, 2018 10:07 pm
Do you initiate the transfer on the receiving firm's end or the sending firm?

If it's on the receiving firm's end, can you specify which lots you want to transfer?
Pulling is much easier because the receiving firm is the motivated one.

Unfortunately, I can't answer about specifying lots. I've only ever transferred all lots of an ETF.

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

Post by whodidntante » Mon May 07, 2018 10:47 pm

I don't think you can specify lots.

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

Post by Earl Lemongrab » Mon May 07, 2018 11:20 pm

JustinR wrote:
Mon May 07, 2018 10:07 pm
Do you initiate the transfer on the receiving firm's end or the sending firm?
Always at the receiver.
If it's on the receiving firm's end, can you specify which lots you want to transfer?
I don't know, I have never tried. It hasn't seemed important to me.
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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Earl Lemongrab
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Earl Lemongrab » Mon May 07, 2018 11:26 pm

I had a question in PM. Someone wanted to know if I move taxable accounts, and if so isn't there tax due. In case anyone else is wondering, the answers are, "I sure do" and "Not if you transfer things in-kind."

That's what we've been talking about here recently. If you move in-kind, not only is it not a taxable event, but the assets keep working for you all during the process. It's like they put the mutual funds or ETFs in a box and sent them to their new home. It's the same ones, same acquisition date, cost basis, etc.
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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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by SlowMovingInvestor » Tue May 08, 2018 1:44 pm

JustinR wrote:
Mon May 07, 2018 10:07 pm
Do you initiate the transfer on the receiving firm's end or the sending firm?

If it's on the receiving firm's end, can you specify which lots you want to transfer?

I don't think you can specify lots. One possible way to do it if you have Vanguard MFs that you are converting to ETFs for transfer is to convert only a part, specifying lots you want to convert (I think Vanguard allows that), and then transfer those ETFs.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by SlowMovingInvestor » Thu May 10, 2018 7:39 am

I did an xfer from Etrade to Merill Edge via ACATS.

Partial MF shares didn't seem to transfer to ME. I can't see them being converted to cash at Etrade either, which seems to show a transfer of all shares .

It's a not a lot of money we're talking about -- < $100, but I'm wondering if I should follow up, and if so, with whom ? ME or Etrade ? Or should I wait for 2-3 days more to see if it's fixed (I know that some stuf like cost basis, is transferred a few days late).

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by athan » Thu May 10, 2018 8:04 am

SlowMovingInvestor wrote:
Thu May 10, 2018 7:39 am
I did an xfer from Etrade to Merill Edge via ACATS.

Partial MF shares didn't seem to transfer to ME. I can't see them being converted to cash at Etrade either, which seems to show a transfer of all shares .

It's a not a lot of money we're talking about -- < $100, but I'm wondering if I should follow up, and if so, with whom ? ME or Etrade ? Or should I wait for 2-3 days more to see if it's fixed (I know that some stuf like cost basis, is transferred a few days late).
I would give it a week to sort out, then start following up.

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

Post by student » Thu May 10, 2018 8:18 am

athan wrote:
Thu May 10, 2018 8:04 am
SlowMovingInvestor wrote:
Thu May 10, 2018 7:39 am
I did an xfer from Etrade to Merill Edge via ACATS.

Partial MF shares didn't seem to transfer to ME. I can't see them being converted to cash at Etrade either, which seems to show a transfer of all shares .

It's a not a lot of money we're talking about -- < $100, but I'm wondering if I should follow up, and if so, with whom ? ME or Etrade ? Or should I wait for 2-3 days more to see if it's fixed (I know that some stuf like cost basis, is transferred a few days late).
I would give it a week to sort out, then start following up.
+1. I think ACATS actually do two sweeps. The first one is the transfer and the second one to see whether there are any dividends or expenses posted. Perhaps the fractional shares got converted to cash and it took a couple of days to settle.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by snowman » Wed May 16, 2018 9:48 am

Earl Lemongrab wrote:
Tue Mar 27, 2018 12:02 am
You could get $200 at FirstTrade. Includes IRAs.

https://www.firstrade.com/landing/en-us ... conditions
Thank you for this suggestion. Transfer took less than a week, and the bonus was deposited into my account the following week. I was really impressed, everything went so fast and without a hitch. I never even heard of this company before, so thanks again.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by jeffyscott » Tue May 22, 2018 7:09 pm

MichDad wrote:
Tue May 01, 2018 10:35 pm
Earl Lemongrab wrote:
Tue May 01, 2018 7:23 pm


For straight cash with 100k, the TD Ameritrade deal is probably the best at $500.

https://www.tdameritrade.com/offer/tdba ... index.html
This is perfect. Thank you very much!

MichDad
Did Schwab give you the bonus?

I'm asking them to match at the $1000 level for a rollover. Not planning on churning, just considering brokerage alternatives to Vanguard, in the hopes that maybe they won't do things such as misplace $15,000 checks :x .
press on, regardless - John C. Bogle

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by ShadowRegent » Wed May 23, 2018 8:39 am

jeffyscott wrote:
Tue May 22, 2018 7:09 pm
MichDad wrote:
Tue May 01, 2018 10:35 pm
Earl Lemongrab wrote:
Tue May 01, 2018 7:23 pm


For straight cash with 100k, the TD Ameritrade deal is probably the best at $500.

https://www.tdameritrade.com/offer/tdba ... index.html
This is perfect. Thank you very much!

MichDad
Did Schwab give you the bonus?

I'm asking them to match at the $1000 level for a rollover. Not planning on churning, just considering brokerage alternatives to Vanguard, in the hopes that maybe they won't do things such as misplace $15,000 checks :x .
They matched this exact bonus for me (at a higher tier)-- cash plus free trades. No pushback at all. Bonus is to be paid in 45 days and funds must be held at Schwab for a year or they may claw it back. They were very clear that market downturns wouldn't be an issue for bonus payment and small withdrawals over the course of the year aren't an issue either-- they just don't want to see you collect the bonus and transfer out until at least a year passes. I've been thoroughly impressed with the customer service reps I've dealt with so far.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by jeffyscott » Wed May 23, 2018 8:50 am

Thanks, sounds good. I am meeting someone at a local branch tomorrow, I emailed for an appointment and included in there that I wanted them to match Ameritrade. When the rep called, he said he'd look into the match in the meantime.
press on, regardless - John C. Bogle

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by indexfundfan » Wed May 23, 2018 9:15 am

jeffyscott wrote:
Wed May 23, 2018 8:50 am
Thanks, sounds good. I am meeting someone at a local branch tomorrow, I emailed for an appointment and included in there that I wanted them to match Ameritrade. When the rep called, he said he'd look into the match in the meantime.
Schwab is good at matching. I had an IRA and taxable account matched. My friend also had his matched. You just need to get them to agree before initiating any transfer.
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by jeffyscott » Thu May 24, 2018 5:41 pm

ShadowRegent wrote:
Wed May 23, 2018 8:39 am
They matched this exact bonus for me (at a higher tier)-- cash plus free trades. No pushback at all. Bonus is to be paid in 45 days and funds must be held at Schwab for a year or they may claw it back. They were very clear that market downturns wouldn't be an issue for bonus payment and small withdrawals over the course of the year aren't an issue either-- they just don't want to see you collect the bonus and transfer out until at least a year passes. I've been thoroughly impressed with the customer service reps I've dealt with so far.
Looks like I may end up going for that higher tier also. Because I am only planning on mutual funds (and some CDs), I asked if the free trades meant I could buy TF funds with no fee. He thought it did not but said he would just waive the transaction fee for me if there were some particular funds I wanted. This greatly simplifies rolling a larger portion, as I can use mostly familiar funds, at least initially, without paying any fee to purchase.

They are also giving me the 180 days to fund from the TD Ameritrade offer. I asked about that, as I thought it might be easier for me to move things piecemeal.
press on, regardless - John C. Bogle

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

Post by MichDad » Thu May 24, 2018 6:39 pm

jeffyscott wrote:
Tue May 22, 2018 7:09 pm
MichDad wrote:
Tue May 01, 2018 10:35 pm
Earl Lemongrab wrote:
Tue May 01, 2018 7:23 pm


For straight cash with 100k, the TD Ameritrade deal is probably the best at $500.

https://www.tdameritrade.com/offer/tdba ... index.html
This is perfect. Thank you very much!

MichDad
Did Schwab give you the bonus?

I'm asking them to match at the $1000 level for a rollover. Not planning on churning, just considering brokerage alternatives to Vanguard, in the hopes that maybe they won't do things such as misplace $15,000 checks :x .
Yes, I have to say that Schwab has been impressive so far. We've moved two different 401(k) plan assets over to Schwab. In each case, Schwab matched the best bonuses we could find -- with the help of this tread. Actually, one of the moves was from my wife's 401(k) that was being managed by Schwab. Even with that situation, Schwab matched a competing brokerage firm's bonus offer.

We also have accounts at Merrill Edge where we also received nice bonuses.

Caveat: We're still within the waiting periods for all our bonuses. We've been told by both ME and Schwab that we'll receive the bonuses and I believe them, but we haven't actually received them yet. If we don't receive them as promised, I'll certainly report that here.

MichDad

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

Post by gips » Tue Jun 05, 2018 6:52 pm

we received ME bonus six months to the day.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by neilpilot » Wed Jun 06, 2018 7:39 am

gips wrote:
Tue Jun 05, 2018 6:52 pm
we received ME bonus six months to the day.
Good to know. One month from now our 2 accounts should receive the bonus $. A few days later the ME accounts will be transferred back to TDA. We opened the ME accounts on a trial basis, just prior to TDA acquiring Scottrade, in case we disliked TDA. However we have had a terrible customer service experience with ME, while TDA has been totally acceptable.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by bondsr4me » Wed Jun 06, 2018 8:11 am

ShadowRegent wrote:
Wed May 23, 2018 8:39 am
jeffyscott wrote:
Tue May 22, 2018 7:09 pm
MichDad wrote:
Tue May 01, 2018 10:35 pm
Earl Lemongrab wrote:
Tue May 01, 2018 7:23 pm


For straight cash with 100k, the TD Ameritrade deal is probably the best at $500.

https://www.tdameritrade.com/offer/tdba ... index.html
This is perfect. Thank you very much!

MichDad
Did Schwab give you the bonus?

I'm asking them to match at the $1000 level for a rollover. Not planning on churning, just considering brokerage alternatives to Vanguard, in the hopes that maybe they won't do things such as misplace $15,000 checks :x .
They matched this exact bonus for me (at a higher tier)-- cash plus free trades. No pushback at all. Bonus is to be paid in 45 days and funds must be held at Schwab for a year or they may claw it back. They were very clear that market downturns wouldn't be an issue for bonus payment and small withdrawals over the course of the year aren't an issue either-- they just don't want to see you collect the bonus and transfer out until at least a year passes. I've been thoroughly impressed with the customer service reps I've dealt with so far.
My bonus year is up in the middle of July...not sure what I am going to do yet..,
I too was told it is OK to make a cash withdrawal without invoking a bonus clawback.
I was also told "transfers out" may invoke a clawback, so I won't do any transfers....yet.
I have been satisfied with CS; they are pretty prompt at answering my emails.
Their customer service is very good as is Fidelity's too.

Don

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by michaeljc70 » Wed Jun 06, 2018 8:35 am

I got $1400 on my last transfer. My year is up. However, it seems like most of the transfers are based on how much is one account, not across accounts. I come out ahead when combining the amounts. I'd definitely transfer again for $1400. BTW... TDA issued the bonus the same day my securities were transferred in.

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

Post by Earl Lemongrab » Wed Jun 06, 2018 10:43 am

Sometimes you do better combining accounts for one bonus, other times splitting an account to multiple custodians. Depends on what's available to you.
This week's fortune cookie: "Your financial life will be secure and beneficial." So I got that going for me, which is nice.

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

Post by michaeljc70 » Wed Jun 06, 2018 11:47 am

One I was interested in at Schwab was only for taxable accounts. It seems like the offers are not as generous as they once were.

Does anyone know if you are excluded from the ETrade bonus if you received it before? I haven't had an account there for probably 2-3 years. It does say " One promotion per customer." I actually didn't get the promotion for opening an account there. I was transferring it out for a bonus and ETrade matched it.

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

Post by Earl Lemongrab » Wed Jun 06, 2018 7:55 pm

michaeljc70 wrote:
Wed Jun 06, 2018 11:47 am
Does anyone know if you are excluded from the ETrade bonus if you received it before? I haven't had an account there for probably 2-3 years. It does say " One promotion per customer." I actually didn't get the promotion for opening an account there. I was transferring it out for a bonus and ETrade matched it.
No, Etrade is pretty liberal on that.
This week's fortune cookie: "Your financial life will be secure and beneficial." So I got that going for me, which is nice.

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

Post by gips » Thu Jun 21, 2018 11:14 pm

ah, I see. I've deleted this post.

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

Post by gips » Tue Jun 26, 2018 3:59 pm

ME is willing to extend the deal they gave me, $1k bonus for $250k and 6-month retention of assets, to my wife. Apparently, they have an exception dept, took a day to receive approval.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by investor997 » Thu Jun 28, 2018 10:57 am

$200 bonus for depositing only $200 into a new Fidelity Cash Management and/or Fidelity (aka taxable) Account. If you already have either of these, you're not eligible.

https://communications.fidelity.com/pi/ ... urce=offer

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

Post by exarkun » Thu Jun 28, 2018 2:06 pm

investor997 wrote:
Thu Jun 28, 2018 10:57 am
$200 bonus for depositing only $200 into a new Fidelity Cash Management and/or Fidelity (aka taxable) Account. If you already have either of these, you're not eligible.

https://communications.fidelity.com/pi/ ... urce=offer
Would this $200 be taxable? (generate a 1099-int)

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Nate79 » Thu Jun 28, 2018 2:23 pm

exarkun wrote:
Thu Jun 28, 2018 2:06 pm
investor997 wrote:
Thu Jun 28, 2018 10:57 am
$200 bonus for depositing only $200 into a new Fidelity Cash Management and/or Fidelity (aka taxable) Account. If you already have either of these, you're not eligible.

https://communications.fidelity.com/pi/ ... urce=offer
Would this $200 be taxable? (generate a 1099-int)
From the T&C:
You are encouraged to consult with your tax advisor about appropriate tax reporting and treatment
relating to this bonus award and the deposit of the bonus award in your account. Any taxes resulting
from the bonus award are your responsibility. Cash bonus awards made into taxable accounts of $600 or
more within a calendar year will appear on your consolidated 1099.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by GeraniumLover » Thu Jun 28, 2018 2:56 pm

investor997 wrote:
Thu Jun 28, 2018 10:57 am
$200 bonus for depositing only $200 into a new Fidelity Cash Management and/or Fidelity (aka taxable) Account. If you already have either of these, you're not eligible.

https://communications.fidelity.com/pi/ ... urce=offer
Well, what bad timing on my part! I just had my two college-age kids set up those accounts (along with a Roth) for their summer earnings...

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

Post by jeffyscott » Thu Jun 28, 2018 3:36 pm

investor997 wrote:
Thu Jun 28, 2018 10:57 am
$200 bonus for depositing only $200 into a new Fidelity Cash Management and/or Fidelity (aka taxable) Account. If you already have either of these, you're not eligible.

https://communications.fidelity.com/pi/ ... urce=offer
Appears to be no fees, even if you just put $200 in?

It says you have to maintain the balance for 9 months, but get the bonus in 7 days. So it seems you could put $200 in, get the bonus, take $200 out? Then just let the other $200 sit for 9 months and close it, if you decide you don't want the account?
press on, regardless - John C. Bogle

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

Post by Earl Lemongrab » Thu Jun 28, 2018 3:56 pm

GeraniumLover wrote:
Thu Jun 28, 2018 2:56 pm
investor997 wrote:
Thu Jun 28, 2018 10:57 am
$200 bonus for depositing only $200 into a new Fidelity Cash Management and/or Fidelity (aka taxable) Account. If you already have either of these, you're not eligible.

https://communications.fidelity.com/pi/ ... urce=offer
Well, what bad timing on my part! I just had my two college-age kids set up those accounts (along with a Roth) for their summer earnings...
Contact them and see if they'll apply the bonus retroactively.
This week's fortune cookie: "Your financial life will be secure and beneficial." So I got that going for me, which is nice.

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

Post by investor997 » Thu Jun 28, 2018 5:24 pm

jeffyscott wrote:
Thu Jun 28, 2018 3:36 pm
Appears to be no fees, even if you just put $200 in?

It says you have to maintain the balance for 9 months, but get the bonus in 7 days. So it seems you could put $200 in, get the bonus, take $200 out? Then just let the other $200 sit for 9 months and close it, if you decide you don't want the account?
That's my take on it. Likely the easiest 200 bucks I'll ever make.

I was thinking about opening a cash management account with them anyway since they reimburse all ATM fees, even globally.

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

Post by SlowMovingInvestor » Thu Jun 28, 2018 6:55 pm

investor997 wrote:
Thu Jun 28, 2018 10:57 am
$200 bonus for depositing only $200 into a new Fidelity Cash Management and/or Fidelity (aka taxable) Account. If you already have either of these, you're not eligible.

https://communications.fidelity.com/pi/ ... urce=offer
I don't have a Fidelity CMA account, but I do have Fido brokerage and IRA accounts. The T&C says

This offer is valid for new or existing Fidelity customers. In order to receive the cash bonus, you must
open and fund a new eligible Fidelity Brokerage Account and Fidelity Cash Management account on or
after 06/22/2018. Fidelity customers who currently have an existing brokerage or cash management
account are not eligible for this offer.


So this means that you can only get the bonus if you are an existing Fido customer, but without a brokerage account (i.e. you have a 401K account or the like) ? That would exclude me.

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

Post by munemaker » Thu Jun 28, 2018 8:19 pm

I contacted Fidelity. You pretty much have to be a new customer to qualify.

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

Post by james_madison » Fri Jun 29, 2018 1:08 pm

The Fidelity $200 cash offer link above now has the message:

"P.S. If you’re looking for our recent cash offer, it just ended. Sorry Charlie."

Stupid work got in the way this morning!

jm

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

Post by jeffyscott » Fri Jun 29, 2018 1:16 pm

Oh, I must have made it just under the wire this morning. Thought we might double dip by having my wife do it, guess not.

I will probably put $800 in then buy a T bill when the bonus is added.
press on, regardless - John C. Bogle

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

Post by michaeljc70 » Sat Jun 30, 2018 11:28 am

If I go here: https://us.etrade.com/what-we-offer/how ... /brokerage

It says at the top:
"Get up to 500 commission-free trades, plus up to a $600 cash credit."

When I look at the chart down the page it says:
Receive
Deposit or Transfer
$2,500 + commission-free trades $1,000,000+
$1,200 + commission-free trades $500,000–$999,999
$600 + commission-free trades $250,000–$499,999
$300 + commission-free trades $100,000–$249,999
$200 + commission-free trades $25,000–$99,999
Only commission-free trades $10,000–$24,999


So, is it $1200 or $600?? The account I'd be transfering is at the $1200 level according to the chart.

EDIT: I did an online chat with them and they said the chart is accurate. They said the most common accounts are less than $500k so they "lead with that bonus". Not a good answer as the website is factually incorrect, but at least they have the bigger bonuses.

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

Post by Earl Lemongrab » Sat Jun 30, 2018 12:38 pm

That's not uncommon. If they lead with the highest bonus, most people will be disappointed when they read it as they won't qualify.
This week's fortune cookie: "Your financial life will be secure and beneficial." So I got that going for me, which is nice.

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

Post by SlowMovingInvestor » Sat Jun 30, 2018 12:46 pm

Etrade often gives $1500 at the $500K level and 1K at the 250K level. This is slightly below that, but still better than other brokerages right now.

Do you have to open a new account to get this, or can you transfer to existing accounts ?

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

Post by jacoavlu » Sat Jun 30, 2018 1:11 pm

E*TRADE has paid me bonuses more than once, for the same account, in the span of less than 6 months. One bonus for funding a new account, and another a few months later for making another sizeable cash transfer in to the same account.

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