The Final, Definitive Thread on Brokerage Transfer Bonuses

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

Post by sco » Wed Feb 06, 2019 12:21 am

Earl Lemongrab wrote:
Tue Feb 05, 2019 8:15 pm
sco wrote:
Tue Feb 05, 2019 7:39 pm
For smaller ira’s, say 30k. I don’t see much out there that is worth the paperwork, once you factor in a possible account closure fee.
Fewer custodians charge a fee these days, especially for partial transfers. And most receivers will cover the fee in addition to a bonus.
More concerned about transfering back. Don't want to leave a .01 account at Swabb at something just to get the funds eventually back to fidelity.

sc9182
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by sc9182 » Fri Feb 08, 2019 3:31 pm

Thinking this is not a repeat, given that last offer link seems to have expired.

Fidelity Deposit amount ~~ Cash bonus

$1,000,000 to $2,499,999 ~~ $2,500
$2,500,000 to $4,999,999 ~~ $3,500
$5,000,000 or more ~~ $5,000

https://rewards.fidelity.com/offers/cashdepositbonus

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

Post by GeraniumLover » Fri Feb 08, 2019 8:47 pm

sc9182 wrote:
Fri Feb 08, 2019 3:31 pm
Thinking this is not a repeat, given that last offer link seems to have expired.

Fidelity Deposit amount ~~ Cash bonus

$1,000,000 to $2,499,999 ~~ $2,500
$2,500,000 to $4,999,999 ~~ $3,500
$5,000,000 or more ~~ $5,000

https://rewards.fidelity.com/offers/cashdepositbonus
Thanks for this. I had been negotiating a $3500 retention bonus at Fidelity in lieu of $4500 in bonuses for transferring funds from Fidelity to three other brokers. I think I will go ahead with those transfers, collect the $4500, then transfer those back to Fidelity after the lock-up period for an additional $2500.

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

Post by FlamingoTime » Sat Feb 09, 2019 12:49 am

Opened a Merrill Edge account a few months ago for $900 bonus. $200,000. (Self directed) Received a call from a Rep who was trying to get me to bring over more for additional bonus. Never mentioned there being an issue due to the fact that I just received a bonus.

Also, I learned something. They will give me a bonus for transferring brokered Cds from Vanguard. And the CD's will count towards my $100k minimum balance I need to keep my Platinum Rewards status.

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

Post by privatefarmer » Sat Feb 09, 2019 1:17 am

FlamingoTime wrote:
Sat Feb 09, 2019 12:49 am
Opened a Merrill Edge account a few months ago for $900 bonus. $200,000. (Self directed) Received a call from a Rep who was trying to get me to bring over more for additional bonus. Never mentioned there being an issue due to the fact that I just received a bonus.

Also, I learned something. They will give me a bonus for transferring brokered Cds from Vanguard. And the CD's will count towards my $100k minimum balance I need to keep my Platinum Rewards status.
how much more did they offer to give you? I originally got $600 from them for 200k transfer, just rcvd it few days ago, and then I complained and they said they'd give me an additional $400 (total $1000 bonus) w/o having to transfer more to them...

b0B
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by b0B » Sat Feb 09, 2019 5:01 pm

Merrill Edge is cracking down. They will deny a bonus for bringing in assets they determine have been previously held in Merrill Edge, even if those assets had not been used for a bonus before. You cannot find out what value they calculate for assets brought in. They won't tell you if you ask. You just find out after the holding period when you see what bonus, if any, you get.

Also, don't use the Money Show code. They'll demand proof that you were there.

Also, always open a new account. Don't ask for a bonus to be added to an already open account, as this seems to be asking for scrutiny and trouble.

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

Post by pre » Sat Feb 09, 2019 5:19 pm

b0B wrote:
Sat Feb 09, 2019 5:01 pm
Merrill Edge is cracking down. They will deny a bonus for bringing in assets they determine have been previously held in Merrill Edge, even if those assets had not been used for a bonus before. You cannot find out what value they calculate for assets brought in. They won't tell you if you ask. You just find out after the holding period when you see what bonus, if any, you get.

Also, don't use the Money Show code. They'll demand proof that you were there.

Also, always open a new account. Don't ask for a bonus to be added to an already open account, as this seems to be asking for scrutiny and trouble.
Hmm, mind sharing your experience/anecdote with this? I just did two new accounts with the January promotion and my relationship manager touched base with me to reimburse the 2x ACATS fees. I mentioned attending a financial seminar where the promotion was offered and he was cordial/supportive.

One of the accounts had holdings I previously kept with Merrill, too.

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

Post by SlowMovingInvestor » Sat Feb 09, 2019 5:29 pm

b0B wrote:
Sat Feb 09, 2019 5:01 pm
Merrill Edge is cracking down. They will deny a bonus for bringing in assets they determine have been previously held in Merrill Edge, even if those assets had not been used for a bonus before. You cannot find out what value they calculate for assets brought in. They won't tell you if you ask. You just find out after the holding period when you see what bonus, if any, you get.
I don't really see how they can do that. Nowhere in the T&C does it say that.

Maybe if it's assets that you transfer out just after the holding period and transfer in within a few days, yes. Or if you have more than one bonus per account type in 1 year.

b0B
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by b0B » Sat Feb 09, 2019 5:40 pm

It was the only bonus in a year. They disqualified assets that they deemed had been in the account in the past. I believe this is what happens when you get "human eyes" on an account, and an individual has the discretion to modify the bonus at will.

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

Post by SlowMovingInvestor » Sat Feb 09, 2019 7:21 pm

b0B wrote:
Sat Feb 09, 2019 5:40 pm
It was the only bonus in a year. They disqualified assets that they deemed had been in the account in the past. I believe this is what happens when you get "human eyes" on an account, and an individual has the discretion to modify the bonus at will.
Thanks for the tip. I agree that getting human eyes on an account may cause problems.

I still don't see how they can legally justify disqualifying assets that had been in the account in the past, unless it was just in the last month or so. The T&Cs say nothing about that. Still, it's best to vote with one's feet in such cases.

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

Post by GeraniumLover » Mon Feb 11, 2019 5:30 pm

b0B wrote:
Sat Feb 09, 2019 5:01 pm
Merrill Edge is cracking down. They will deny a bonus for bringing in assets they determine have been previously held in Merrill Edge, even if those assets had not been used for a bonus before. You cannot find out what value they calculate for assets brought in. They won't tell you if you ask. You just find out after the holding period when you see what bonus, if any, you get.

Also, don't use the Money Show code. They'll demand proof that you were there.

Also, always open a new account. Don't ask for a bonus to be added to an already open account, as this seems to be asking for scrutiny and trouble.
What did they consider acceptable forms of proof that you were at the MoneyShow?

b0B
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by b0B » Mon Feb 11, 2019 7:28 pm

GeraniumLover wrote:
Mon Feb 11, 2019 5:30 pm
b0B wrote:
Sat Feb 09, 2019 5:01 pm
Merrill Edge is cracking down. They will deny a bonus for bringing in assets they determine have been previously held in Merrill Edge, even if those assets had not been used for a bonus before. You cannot find out what value they calculate for assets brought in. They won't tell you if you ask. You just find out after the holding period when you see what bonus, if any, you get.

Also, don't use the Money Show code. They'll demand proof that you were there.

Also, always open a new account. Don't ask for a bonus to be added to an already open account, as this seems to be asking for scrutiny and trouble.
What did they consider acceptable forms of proof that you were at the MoneyShow?
I wasn't there, so I just gave up (got the regular bonus).

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

Post by JustinR » Mon Feb 11, 2019 7:42 pm

b0B wrote:
Sat Feb 09, 2019 5:40 pm
It was the only bonus in a year. They disqualified assets that they deemed had been in the account in the past. I believe this is what happens when you get "human eyes" on an account, and an individual has the discretion to modify the bonus at will.
If it's not in the fine print of the bonus, file a CFPB complaint.

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

Post by jwasilko » Mon Feb 11, 2019 7:44 pm

Recent offer from Etrade (better than what's on the web site)

Code: Select all

You are now enrolled in the TF60D_2500CFC_IRA promotion. Here is how it works:

Deposit or Transfer	Receive
$1MM	$2,500 		60 Days of commission free trades
$500K - $999,999	$1,500 60 Days of commission free trades
$250K - $499,999	$1,000 60 Days of commission free trades
$100K - $249,999	$500 60 Days of commission free trades
$25K - $99,999		$200 60 Days of commission free trades
$10K - $24,999		60 Days of commission free trades

b0B
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by b0B » Mon Feb 11, 2019 7:45 pm

SlowMovingInvestor wrote:
Sat Feb 09, 2019 7:21 pm
b0B wrote:
Sat Feb 09, 2019 5:40 pm
It was the only bonus in a year. They disqualified assets that they deemed had been in the account in the past. I believe this is what happens when you get "human eyes" on an account, and an individual has the discretion to modify the bonus at will.
Thanks for the tip. I agree that getting human eyes on an account may cause problems.

I still don't see how they can legally justify disqualifying assets that had been in the account in the past, unless it was just in the last month or so. The T&Cs say nothing about that. Still, it's best to vote with one's feet in such cases.
I should have kept track more carefully (and PSA: don't do what I did). I transferred assets out of an account (e.g. 123 shares of XYZ), and transferred the exact same assets back into the same account, almost but less than 12 months later. I've decided not to dispute, as it may be better not to attract more attention.

Someone had mention earlier that they thought there might be a rule to get two bonuses in same account type within 12 months. That did not apply here. But it seems that they are also watching for returning assets that don't look "new". I don't know if it is seen by software, or by "human eyes", and I don't know if it is inconsistently applied and I got unlucky.

b0B
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by b0B » Mon Feb 11, 2019 7:49 pm

JustinR wrote:
Mon Feb 11, 2019 7:42 pm
b0B wrote:
Sat Feb 09, 2019 5:40 pm
It was the only bonus in a year. They disqualified assets that they deemed had been in the account in the past. I believe this is what happens when you get "human eyes" on an account, and an individual has the discretion to modify the bonus at will.
If it's not in the fine print of the bonus, file a CFPB complaint.
I just saw this after I posted, but I'm letting it go. I've got plenty out of BoA/ME, mostly credit card bonuses, (and their cash back has become very generous) and I'd rather not get into a dispute now.

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

Post by michaeljc70 » Wed Feb 13, 2019 10:41 am

Has anyone tried Ally? I think I am going for the $1200 bonus for $500k+ from TDA. I haven't seen anything really negative, but wanted to ask before taking the plunge since I will be stuck there 300 days. Chances are good I will not make any trades so not sure how much could go wrong. It is the best bonus I've found for an IRA without a lot of hoops.

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

Post by Longtermgrowth » Wed Feb 13, 2019 4:37 pm

Question for those who got a bonus below the $600 threshold for a 1099-MISC:

Where did your broker report the bonus amount in your tax forms?

If not reported by brokerage, how did you report it on your tax return?

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

Post by Earl Lemongrab » Wed Feb 13, 2019 6:07 pm

The $600 figure is for mandatory 1099 generation. Custodians can and do issue them for lower amounts. For taxable brokerage accounts, there is usually a combined 1099 with MISC, B, INT, whatever.

Retired1809
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Retired1809 » Wed Feb 13, 2019 6:22 pm

michaeljc70 » Wed Feb 13, 2019 10:41 am
Has anyone tried Ally? I think I am going for the $1200 bonus for $500k+ from TDA. I haven't seen anything really negative, but wanted to ask before taking the plunge since I will be stuck there 300 days. Chances are good I will not make any trades so not sure how much could go wrong. It is the best bonus I've found for an IRA without a lot of hoops.


I haven't gotten around to it but am considering it. In addition to the $1200 from Ally, maybe you can get a few hundred $ when you later bring it back to TDA. Good way to juice up earnings on the account.

sc9182
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by sc9182 » Wed Feb 13, 2019 6:31 pm

michaeljc70 wrote:
Wed Feb 13, 2019 10:41 am
Has anyone tried Ally? I think I am going for the $1200 bonus for $500k+ from TDA. I haven't seen anything really negative, but wanted to ask before taking the plunge since I will be stuck there 300 days. Chances are good I will not make any trades so not sure how much could go wrong. It is the best bonus I've found for an IRA without a lot of hoops.
ETrade May be able to offer $1500 for 500k. Do call ..

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

Post by michaeljc70 » Wed Feb 13, 2019 6:33 pm

sc9182 wrote:
Wed Feb 13, 2019 6:31 pm
michaeljc70 wrote:
Wed Feb 13, 2019 10:41 am
Has anyone tried Ally? I think I am going for the $1200 bonus for $500k+ from TDA. I haven't seen anything really negative, but wanted to ask before taking the plunge since I will be stuck there 300 days. Chances are good I will not make any trades so not sure how much could go wrong. It is the best bonus I've found for an IRA without a lot of hoops.
ETrade May be able to offer $1500 for 500k. Do call ..
I had eTrade before TDA and got a bonus there. Do you think that matters? They are offering the $1200 for a non-IRA.

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

Post by SlowMovingInvestor » Wed Feb 13, 2019 7:09 pm

Earl Lemongrab wrote:
Wed Feb 13, 2019 6:07 pm
The $600 figure is for mandatory 1099 generation. Custodians can and do issue them for lower amounts. For taxable brokerage accounts, there is usually a combined 1099 with MISC, B, INT, whatever.
IIRC, 1099-MISC reporting causes some issues in TT over whether it's subject to the NIIT or not.

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

Post by Earl Lemongrab » Wed Feb 13, 2019 8:08 pm

michaeljc70 wrote:
Wed Feb 13, 2019 6:33 pm
I had eTrade before TDA and got a bonus there. Do you think that matters? They are offering the $1200 for a non-IRA.
They're pretty liberal on bonuses. Past ones don't matter much.

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

Post by privatefarmer » Thu Feb 14, 2019 3:18 am

michaeljc70 wrote:
Wed Feb 13, 2019 10:41 am
Has anyone tried Ally? I think I am going for the $1200 bonus for $500k+ from TDA. I haven't seen anything really negative, but wanted to ask before taking the plunge since I will be stuck there 300 days. Chances are good I will not make any trades so not sure how much could go wrong. It is the best bonus I've found for an IRA without a lot of hoops.
I transferred 25k to ally last month, still waiting on the bonus...

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

Post by LiveSimple » Thu Feb 14, 2019 4:43 am

How do the holding companies make money to recover the bonus paid, if you are an indexer and do not do much trade or fall for their assets management or high fee funds.

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

Post by agreatlife » Thu Feb 14, 2019 7:59 am

sc9182 wrote:
Wed Feb 13, 2019 6:31 pm
michaeljc70 wrote:
Wed Feb 13, 2019 10:41 am
Has anyone tried Ally? I think I am going for the $1200 bonus for $500k+ from TDA. I haven't seen anything really negative, but wanted to ask before taking the plunge since I will be stuck there 300 days. Chances are good I will not make any trades so not sure how much could go wrong. It is the best bonus I've found for an IRA without a lot of hoops.
ETrade May be able to offer $1500 for 500k. Do call ..

I was able to secure a $1k bonus for a 250k taxable account and a $1k bonuses for a 250k Roth Ira from Etrade in the CT-NY area. I spoke with Headquarters, and then a local office manager who secured the bonus.

Please call Etrade, since they are willing to go higher than their regular offer.

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

Post by michaeljc70 » Thu Feb 14, 2019 10:08 am

privatefarmer wrote:
Thu Feb 14, 2019 3:18 am
michaeljc70 wrote:
Wed Feb 13, 2019 10:41 am
Has anyone tried Ally? I think I am going for the $1200 bonus for $500k+ from TDA. I haven't seen anything really negative, but wanted to ask before taking the plunge since I will be stuck there 300 days. Chances are good I will not make any trades so not sure how much could go wrong. It is the best bonus I've found for an IRA without a lot of hoops.
I transferred 25k to ally last month, still waiting on the bonus...
Interesting. I'm pretty sure it said 10 days on their site.

Edit: This is what it says, so I guess you have to wait 70 days.

" Accounts will be reviewed 60 days after account opening to determine the total qualifying deposit. Corresponding cash bonus will be credited to the account within 10 business days."

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

Post by GeraniumLover » Fri Feb 15, 2019 7:04 pm

I am looking to fund a new E*TRADE account from transfers from Fidelity. If I transfer less than the total holdings of an ETF (e.g., only 100 of the 143.245 shares), does anyone know whether the transfer is done on a FIFO basis with respect to the various lots, or is that something I will need to specify directly with E*TRADE and/or Fidelity?

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

Post by spitty » Mon Feb 18, 2019 7:21 am

We transferred some funds to TdA last year and got $300 in Apple gift cards. It appears on our 1099 under "miscellaneous income" so I guess it's taxable. At least frequent flyer miles aren't taxed...yet!

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

Post by JustinR » Wed Feb 20, 2019 12:38 am

Anyone have experience with partial transfers into a Chase You Invest account?

You can only do this by filling out a form and sending it via mail ... are they serious?
We're currently only supporting full account transfers online. If you need to initiate a partial transfer, or if your account contains ineligible securities, please complete the Account Transfer Form or contact Customer Service at 1-800-392-5749.

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

Post by hotpancakes » Wed Feb 20, 2019 3:18 pm

JustinR wrote:
Wed Feb 20, 2019 12:38 am
Anyone have experience with partial transfers into a Chase You Invest account?

You can only do this by filling out a form and sending it via mail ... are they serious?
We're currently only supporting full account transfers online. If you need to initiate a partial transfer, or if your account contains ineligible securities, please complete the Account Transfer Form or contact Customer Service at 1-800-392-5749.
They are indeed serious, and you must have it notarized. It was the biggest pain in the ass.

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

Post by JustinR » Wed Feb 20, 2019 5:24 pm

hotpancakes wrote:
Wed Feb 20, 2019 3:18 pm
JustinR wrote:
Wed Feb 20, 2019 12:38 am
Anyone have experience with partial transfers into a Chase You Invest account?

You can only do this by filling out a form and sending it via mail ... are they serious?
We're currently only supporting full account transfers online. If you need to initiate a partial transfer, or if your account contains ineligible securities, please complete the Account Transfer Form or contact Customer Service at 1-800-392-5749.
They are indeed serious, and you must have it notarized. It was the biggest pain in the ass.
Oh god.

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

Post by Earl Lemongrab » Wed Feb 20, 2019 5:28 pm

Notarized isn't that big of a deal, you can get that done many places. It's signature guarantee that's really a pain. That being said, I wouldn't do it.

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

Post by JustinR » Wed Feb 20, 2019 6:44 pm

Earl Lemongrab wrote:
Wed Feb 20, 2019 5:28 pm
Notarized isn't that big of a deal, you can get that done many places. It's signature guarantee that's really a pain. That being said, I wouldn't do it.
It's a pain but I'm still gonna do it. I'll just have it notorized...at Chase. $600 for $75k is pretty good. Just didn't know they'd be this backwards when I signed up.

02nz
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by 02nz » Wed Feb 20, 2019 7:29 pm

hotpancakes wrote:
Wed Feb 20, 2019 3:18 pm
JustinR wrote:
Wed Feb 20, 2019 12:38 am
Anyone have experience with partial transfers into a Chase You Invest account?

You can only do this by filling out a form and sending it via mail ... are they serious?
We're currently only supporting full account transfers online. If you need to initiate a partial transfer, or if your account contains ineligible securities, please complete the Account Transfer Form or contact Customer Service at 1-800-392-5749.
They are indeed serious, and you must have it notarized. It was the biggest pain in the ass.
My experience was pretty smooth and easy. (Copying from my post about a week ago in the Chase You Invest thread:) I went to the Chase branch on Friday with the form, had it notarized there. Took maybe 15 minutes. They didn't want to send it for me but did give me a prepaid UPS overnight label, so I sent it myself. It would've arrived in Chicago on Monday and the shares I specified for the transfer already show as deducted out of my Merrill Edge account today, although they don't show in You Invest yet, I imagine that'll be another day or two. So it's a little more work but very fast. EDIT: Shares show in You Invest as of Fri. All went super smoothly.

02nz
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by 02nz » Wed Feb 20, 2019 7:30 pm

JustinR wrote:
Wed Feb 20, 2019 12:38 am
Anyone have experience with partial transfers into a Chase You Invest account?

You can only do this by filling out a form and sending it via mail ... are they serious?
We're currently only supporting full account transfers online. If you need to initiate a partial transfer, or if your account contains ineligible securities, please complete the Account Transfer Form or contact Customer Service at 1-800-392-5749.
See my experience here: viewtopic.php?f=1&t=262578&start=100#p4379551 (copied one post above, too). It was easy.

Anon E. Moose
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Anon E. Moose » Wed Feb 20, 2019 7:34 pm

Looks like TDA has an improved offer:

1k for 250k
$500 for 100k
$200 for 50k
$100 for 25k

Applies to brokerage and retirement accounts. Valid until 6/30/19

https://www.tdameritrade.com/offer/for ... index.html

02nz
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by 02nz » Wed Feb 20, 2019 7:36 pm

SlowMovingInvestor wrote:
Mon Jan 21, 2019 11:21 am
JustinR wrote:
Mon Jan 21, 2019 6:15 am
Earl Lemongrab wrote:
Fri Jan 18, 2019 4:33 pm
SlowMovingInvestor wrote:
Fri Jan 18, 2019 3:53 pm
JustinR wrote:
Fri Jan 18, 2019 1:53 am
Damn...looks like the $1000 Merrill Edge offer expired

https://www.merrilledge.com/offers/1000offer

So these are the ones still active?

$900 - https://www.merrilledge.com/offers/900offer
$600 - https://www.merrilledge.com/cmaoffer
Look for the expiry date. it's April 30th for the $900 offer. Not sure why anybody would take the $600 offer as long as the $900 one is open.
The $900 is only for Preferred Rewards customers, so be sure to sign up for that if you don't already have it (should anyway).
You can simply sign up for it while/after you open an account right?
Yes, just open a checking account at BoA afterwards -- you may even get a small bonus for opening a BoA account (4100 or so). I don't recollect if you have to explicitly link it to your ME account or if it gets linked automatically by SS#.
Signing up for Preferred Rewards was the only part of my experience (with the ME900 bonus) that wasn't smooth. Different reps told me conflicting info about whether I'd be automatically enrolled or not by signing up for the checking account, and also about whether it was possible to sign up for Preferred Rewards "manually," without just waiting for it to kick in. Anyway, ti seems I didn't actually qualify to sign up until about 45-60 days after opening the checking account; after that point, the rep was able to get me signed up and another month or so later I received the bonuses as promised.

02nz
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by 02nz » Wed Feb 20, 2019 7:43 pm

Earl Lemongrab wrote:
Tue Feb 05, 2019 1:34 pm
neilpilot wrote:
Tue Feb 05, 2019 1:22 pm
kxl19 wrote:
Tue Feb 05, 2019 11:43 am
If I'm opening both a CMA and IRA account, is there any way to ensure that the bonus is deposited into the IRA? (ie, 100k in Roth and 100k CMA are transferred in - which account will receive the transfer bonus?)

This way the bonus can go in tax free vs. having to to deal with a 1099...
This way the bonus can go in tax free deferred
I think it was clear that the IRA is a Roth. So tax free was correct.
I signed up for the ME900 offer on both the CMA (brokerage) account and Roth IRA. The two bonuses were deposited separately, into each qualifying account. (An ME rep also told me that while I would only get one IRA bonus, I could request consideration based on the combined balance of Roth and traditional IRAs. This wouldn't have gotten me to the next bonus "tier" but may be helpful to others.)

I assume that next year I'll get 1099's for the total amount of the two bonuses, including the amount that went into the Roth IRA. Can anyone w/ past experience confirm? For me even with a 1099 it's still a win since this is "extra" Roth IRA space.

Anon E. Moose
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Anon E. Moose » Wed Feb 20, 2019 7:50 pm

02nz wrote:
Wed Feb 20, 2019 7:43 pm
Earl Lemongrab wrote:
Tue Feb 05, 2019 1:34 pm
neilpilot wrote:
Tue Feb 05, 2019 1:22 pm
kxl19 wrote:
Tue Feb 05, 2019 11:43 am
If I'm opening both a CMA and IRA account, is there any way to ensure that the bonus is deposited into the IRA? (ie, 100k in Roth and 100k CMA are transferred in - which account will receive the transfer bonus?)

This way the bonus can go in tax free vs. having to to deal with a 1099...
This way the bonus can go in tax free deferred
I think it was clear that the IRA is a Roth. So tax free was correct.
I signed up for the ME900 offer on both the CMA (brokerage) account and Roth IRA. The two bonuses were deposited separately, into each qualifying account. (An ME rep also told me that while I would only get one IRA bonus, I could request consideration based on the combined balance of Roth and traditional IRAs. This wouldn't have gotten me to the next bonus "tier" but may be helpful to others.)

I assume that next year I'll get 1099's for the total amount of the two bonuses, including the amount that went into the Roth IRA. Can anyone w/ past experience confirm? For me even with a 1099 it's still a win since this is "extra" Roth IRA space.
1099 will only reflect the bonus for CMA, not for the Roth. Also, I got ME to count combined Roth and Traditional balances for bonus purposes, but get that commitment in writing (over email) - my bonus did not post automatically, and took several exchanges of emails with customer service, providing proof of a representative stating that combined balances will count, and a threat of withdrawing all my accounts for the bonus to actually post correctly.

02nz
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by 02nz » Wed Feb 20, 2019 7:57 pm

Anon E. Moose wrote:
Wed Feb 20, 2019 7:50 pm
1099 will only reflect the bonus for CMA, not for the Roth. Also, I got ME to count combined Roth and Traditional balances for bonus purposes, but get that commitment in writing (over email) - my bonus did not post automatically, and took several exchanges of emails with customer service, providing proof of a representative stating that combined balances will count, and a threat of withdrawing all my accounts for the bonus to actually post correctly.
Thanks, great info.

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

Post by snowman » Wed Feb 20, 2019 8:04 pm

Anon E. Moose wrote:
Wed Feb 20, 2019 7:34 pm
Looks like TDA has an improved offer:

1k for 250k
$500 for 100k
$200 for 50k
$100 for 25k

Applies to brokerage and retirement accounts. Valid until 6/30/19

https://www.tdameritrade.com/offer/for ... index.html
I just did this one last week. I initiated partial transfer from ME to TDA on Monday, transfer completed and $1K bonus deposited on Thursday. I was impressed!

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

Post by Earl Lemongrab » Thu Feb 21, 2019 12:25 am

snowman wrote:
Wed Feb 20, 2019 8:04 pm
I just did this one last week. I initiated partial transfer from ME to TDA on Monday, transfer completed and $1K bonus deposited on Thursday. I was impressed!
That's a big advantage of TDA, the immediate bonus crediting. The downside is the one-year holding period.

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

Post by JustinR » Thu Feb 21, 2019 7:41 pm

Etrade has a $75 full transfer fee. How is the fee charged?

I'd be moving ETFs out of there, and there's only a few cents in the cash fund, which I assume would also have been moved.

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

Post by whodidntante » Thu Feb 21, 2019 7:45 pm

JustinR wrote:
Thu Feb 21, 2019 7:41 pm
Etrade has a $75 full transfer fee. How is the fee charged?

I'd be moving ETFs out of there, and there's only a few cents in the cash fund, which I assume would also have been moved.
Typically they'll transfer, then debit the receiving account for $75. That is slightly more polite than a forced sale.

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

Post by tooluser » Thu Feb 21, 2019 8:27 pm

How do I best get finance companies to pursue me, instead of me pursuing finance companies?
The discovery of America, and that of a passage to the East Indies by the Cape of Good Hope, are the two greatest and most important events recorded in the history of mankind. -- Adam Smith, 1776

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

Post by Earl Lemongrab » Thu Feb 21, 2019 9:19 pm

JustinR wrote:
Thu Feb 21, 2019 7:41 pm
Etrade has a $75 full transfer fee. How is the fee charged?

I'd be moving ETFs out of there, and there's only a few cents in the cash fund, which I assume would also have been moved.
I left some small amounts at Etrade. It's still listed as having a $25 partial transfer fee. The Roth I had left there with a few bucks just got a targeted offer similar to the TDA one mentioned above. I can get at least 100k together.

b0B
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by b0B » Thu Feb 21, 2019 10:10 pm

What's going on? ANOTHER post of mine has disappeared.

b0B
Posts: 513
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by b0B » Thu Feb 21, 2019 10:12 pm

Okay, I'll try again.
Earl Lemongrab wrote:
Thu Feb 21, 2019 9:19 pm
JustinR wrote:
Thu Feb 21, 2019 7:41 pm
Etrade has a $75 full transfer fee. How is the fee charged?

I'd be moving ETFs out of there, and there's only a few cents in the cash fund, which I assume would also have been moved.
I left some small amounts at Etrade. It's still listed as having a $25 partial transfer fee. The Roth I had left there with a few bucks just got a targeted offer similar to the TDA one mentioned above. I can get at least 100k together.
Did the $25 fee make your balance go negative? Did they come after you to bring the balance back up to zero?

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