The Final, Definitive Thread on Brokerage Transfer Bonuses

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

Post by michaeljc70 » Wed Mar 27, 2019 6:42 pm

I finally got around to applying for the Ally account/bonus. $1200 for $500k+. Hopefully no issues. Most of these you have to stay around a year. An extra $1200 a year for about an hours work seems like a good deal to me. I haven't seen major differences between all the (many) brokerages I've been. I rebalance once a year so trading costs are practically non-existent. I have very low cost ETFs. I don't add $$$ any more (this is a tIRA).

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

Post by SlowMovingInvestor » Thu Mar 28, 2019 11:38 am

Does anyone know if Merill does any sort of lookback period when computing balance transfer for bonus ?

I.e. if you had moved out 100K a month ago (and maybe not even from that account, but from another ME account of a different type), and them move 250K in, is it counted as 250K or 250-100 = 150K ?

I know Fido does a lookback period and checks across all individual accounts.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by whodidntante » Thu Mar 28, 2019 12:23 pm

SlowMovingInvestor wrote:
Thu Mar 28, 2019 11:38 am
Does anyone know if Merill does any sort of lookback period when computing balance transfer for bonus ?

I.e. if you had moved out 100K a month ago (and maybe not even from that account, but from another ME account of a different type), and them move 250K in, is it counted as 250K or 250-100 = 150K ?

I know Fido does a lookback period and checks across all individual accounts.
I realize it's asking a lot at this point, but look through this epic thread. IIRC, Merrill denies bonuses if you've had a bonus in the last year, and they deny bonuses if you churn assets (meaning you transfer in the same securities you transferred out). Both are different than what you described.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by pre » Thu Mar 28, 2019 12:28 pm

SlowMovingInvestor wrote:
Thu Mar 28, 2019 11:38 am
I know Fido does a lookback period and checks across all individual accounts.
Mind sharing more about this? Did you experience it yourself? Did an agent explicitly note this?

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

Post by SlowMovingInvestor » Thu Mar 28, 2019 12:34 pm

pre wrote:
Thu Mar 28, 2019 12:28 pm
SlowMovingInvestor wrote:
Thu Mar 28, 2019 11:38 am
I know Fido does a lookback period and checks across all individual accounts.
Mind sharing more about this? Did you experience it yourself? Did an agent explicitly note this?
They had a page that showed me progress I was making in reaching my transfer goal. It did have a lookback period (not sure how long) and aggregated across all individual accounts.

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

Post by Earl Lemongrab » Thu Mar 28, 2019 1:49 pm

SlowMovingInvestor wrote:
Thu Mar 28, 2019 12:34 pm
pre wrote:
Thu Mar 28, 2019 12:28 pm
SlowMovingInvestor wrote:
Thu Mar 28, 2019 11:38 am
I know Fido does a lookback period and checks across all individual accounts.
Mind sharing more about this? Did you experience it yourself? Did an agent explicitly note this?
They had a page that showed me progress I was making in reaching my transfer goal. It did have a lookback period (not sure how long) and aggregated across all individual accounts.
Does that have anything to do with bonuses? Fidelity isn't even doing bonuses for anything less than a million or so.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by michaeljc70 » Thu Mar 28, 2019 1:59 pm

Do people bother splitting up accounts for a small additional bonus? For example, say you have $700k in an account. Do you split that and transfer $500k to one place for a bonus and the $200k somewhere for another smaller bonus? To me, it doesn't seem worth the trouble of additional paperwork, having an additional account, etc.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by klaus14 » Thu Mar 28, 2019 2:03 pm

michaeljc70 wrote:
Thu Mar 28, 2019 1:59 pm
Do people bother splitting up accounts for a small additional bonus? For example, say you have $700k in an account. Do you split that and transfer $500k to one place for a bonus and the $200k somewhere for another smaller bonus? To me, it doesn't seem worth the trouble of additional paperwork, having an additional account, etc.
i moved 250k assets to TD A. all online. Received 1k. Will keep assets there for a year and then move back to VG.
I think it's worth it.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by michaeljc70 » Thu Mar 28, 2019 2:15 pm

klaus14 wrote:
Thu Mar 28, 2019 2:03 pm
michaeljc70 wrote:
Thu Mar 28, 2019 1:59 pm
Do people bother splitting up accounts for a small additional bonus? For example, say you have $700k in an account. Do you split that and transfer $500k to one place for a bonus and the $200k somewhere for another smaller bonus? To me, it doesn't seem worth the trouble of additional paperwork, having an additional account, etc.
i moved 250k assets to TD A. all online. Received 1k. Will keep assets there for a year and then move back to VG.
I think it's worth it.
Right. But I mean, say you had $350k in the original account. Do you move $250k to TDA and the $100k somewhere else for another bonus?

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

Post by Earl Lemongrab » Thu Mar 28, 2019 3:20 pm

michaeljc70 wrote:
Thu Mar 28, 2019 1:59 pm
Do people bother splitting up accounts for a small additional bonus? For example, say you have $700k in an account. Do you split that and transfer $500k to one place for a bonus and the $200k somewhere for another smaller bonus? To me, it doesn't seem worth the trouble of additional paperwork, having an additional account, etc.
I certainly do. I split them and combine as necessary to generate new bonus. Now, there are few players these days, so it's not as frequent. Sometimes I have amounts pining for the fiords bonuses, with no targets available because I have ones in-process.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by JustinR » Thu Mar 28, 2019 3:23 pm

michaeljc70 wrote:
Thu Mar 28, 2019 1:59 pm
Do people bother splitting up accounts for a small additional bonus? For example, say you have $700k in an account. Do you split that and transfer $500k to one place for a bonus and the $200k somewhere for another smaller bonus? To me, it doesn't seem worth the trouble of additional paperwork, having an additional account, etc.
Yes, it's worth it depending on the bonus amount and terms. For example, Merrill and Chase are both 3 month terms and I have enough money to get two large bonuses so it's worth a split.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by klaus14 » Thu Mar 28, 2019 3:36 pm

michaeljc70 wrote:
Thu Mar 28, 2019 2:15 pm
klaus14 wrote:
Thu Mar 28, 2019 2:03 pm
michaeljc70 wrote:
Thu Mar 28, 2019 1:59 pm
Do people bother splitting up accounts for a small additional bonus? For example, say you have $700k in an account. Do you split that and transfer $500k to one place for a bonus and the $200k somewhere for another smaller bonus? To me, it doesn't seem worth the trouble of additional paperwork, having an additional account, etc.
i moved 250k assets to TD A. all online. Received 1k. Will keep assets there for a year and then move back to VG.
I think it's worth it.
Right. But I mean, say you had $350k in the original account. Do you move $250k to TDA and the $100k somewhere else for another bonus?
it's easy to get $700 - $800 worth of miles by opening credit cards, it's tax free and also easier.
So for me for a brokerage bonus to worth it, it should be at least $1000. Especially considering half of it will go to the tax man. So far, i only did the TD A one since it was a good bonus for a low amount of transfer.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by michaeljc70 » Thu Mar 28, 2019 3:42 pm

Some of the brokerage bonuses are excluding IRAs now, which is where most of my money is. I do credit card churning, but like brokerage bonuses, I have a minimum bonus I'll go for I tend to go for $500 and up bonuses with credit cards and brokerage accounts. For credit cards, there is a minimum spend, maybe a hit to my credit, a hit to future bonuses, etc. For brokerages, there is the paperwork, sometimes slightly less favorable terms (losing free ATM fees, higher trade costs, etc.), setting up new usernames, passwords, Quicken, etc.

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

Post by Earl Lemongrab » Thu Mar 28, 2019 4:18 pm

klaus14 wrote:
Thu Mar 28, 2019 3:36 pm
[it's easy to get $700 - $800 worth of miles by opening credit cards, it's tax free and also easier.
So for me for a brokerage bonus to worth it, it should be at least $1000. Especially considering half of it will go to the tax man. So far, i only did the TD A one since it was a good bonus for a low amount of transfer.
I don't think it's easier. Opening a brokerage account is on par with opening a credit card account, maybe easier if it's at a brokerage I already have an account with. You also don't need to worry about getting approved. Setting up a transfer is pretty easy, then I'm done. With credit cards you have to now meet the spending requirement. That's easy for a small bonus, but not so much for a larger one.

Unless you're in a very high tax bracket, then half is not going to taxes. I currently pay about 33% aggregate tax. And of course in a Roth it's tax-free. Even if the bonus is only a few hundred, it's less than an hour's work, so that's pretty good pay - especially as I'm in retirement.

Credit card and brokerage bonuses are non-overlapping, so doing one doesn't affect whether you can or should do the other.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by SlowMovingInvestor » Thu Mar 28, 2019 5:04 pm

klaus14 wrote:
Thu Mar 28, 2019 3:36 pm

it's easy to get $700 - $800 worth of miles by opening credit cards, it's tax free and also easier.
So for me for a brokerage bonus to worth it, it should be at least $1000. Especially considering half of it will go to the tax man. So far, i only did the TD A one since it was a good bonus for a low amount of transfer.
1) You need to make sure you can meet the spend requirements
2) There is a hit to your credit report
3) At some point you run out of good cards because of restrictions by issuers such as 5/24 or lifetime limits

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by SlowMovingInvestor » Thu Mar 28, 2019 5:09 pm

Earl Lemongrab wrote:
Thu Mar 28, 2019 1:49 pm
SlowMovingInvestor wrote:
Thu Mar 28, 2019 12:34 pm
pre wrote:
Thu Mar 28, 2019 12:28 pm
SlowMovingInvestor wrote:
Thu Mar 28, 2019 11:38 am
I know Fido does a lookback period and checks across all individual accounts.
Mind sharing more about this? Did you experience it yourself? Did an agent explicitly note this?
They had a page that showed me progress I was making in reaching my transfer goal. It did have a lookback period (not sure how long) and aggregated across all individual accounts.
Does that have anything to do with bonuses? Fidelity isn't even doing bonuses for anything less than a million or so.
It was around 2 years ago, when Fidelity was doing bonuses. And it was definitely related to the transfer although I don't remember all the details.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by SlowMovingInvestor » Thu Mar 28, 2019 5:15 pm

whodidntante wrote:
Thu Mar 28, 2019 12:23 pm

I realize it's asking a lot at this point, but look through this epic thread. IIRC, Merrill denies bonuses if you've had a bonus in the last year, and they deny bonuses if you churn assets (meaning you transfer in the same securities you transferred out). Both are different than what you described.
I do remember reading that, and my recollection is that a Merill rep actually looked at the account in question. And I think it was 2 per year, for either an IRA or a regular account. If one keeps a low profile, I am not sure their automated systems pick up multiple bonuses.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Earl Lemongrab » Thu Mar 28, 2019 5:36 pm

I haven't been denied a bonus, but I generally only do one each in an IRA and taxable account there per year. I don't worry about churning, as when assets leave there, they're going to somewhere else for a bonus and will be away for a while.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by michaeljc70 » Thu Mar 28, 2019 6:04 pm

My best deal (which I may have mentioned 20 pages ago) was when I tried to do a transfer from Etrade. They called me and offered the bonus if I stayed with no restrictions. I took it. I did stay for a while before moving on to the next bonus...

As I stated earlier in this thread, my guess is eventually they will put more limits on this just like on the good credit card bonuses. It is not worth it to them to pay someone $1200 who does 3 trades for $15 in a year and then transfers somewhere else.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by whodidntante » Thu Mar 28, 2019 6:28 pm

michaeljc70 wrote:
Thu Mar 28, 2019 6:04 pm
My best deal (which I may have mentioned 20 pages ago) was when I tried to do a transfer from Etrade. They called me and offered the bonus if I stayed with no restrictions. I took it. I did stay for a while before moving on to the next bonus...

As I stated earlier in this thread, my guess is eventually they will put more limits on this just like on the good credit card bonuses. It is not worth it to them to pay someone $1200 who does 3 trades for $15 in a year and then transfers somewhere else.
I think we may have seen the high water mark on a golden age of bank, credit card, and brokerage bonuses. I'll keep riding that pony until it dies. Oh well. If it ends tomorrow, I can buy a desirable used car with the money they gave me for almost nothing.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by michaeljc70 » Thu Mar 28, 2019 6:42 pm

whodidntante wrote:
Thu Mar 28, 2019 6:28 pm
michaeljc70 wrote:
Thu Mar 28, 2019 6:04 pm
My best deal (which I may have mentioned 20 pages ago) was when I tried to do a transfer from Etrade. They called me and offered the bonus if I stayed with no restrictions. I took it. I did stay for a while before moving on to the next bonus...

As I stated earlier in this thread, my guess is eventually they will put more limits on this just like on the good credit card bonuses. It is not worth it to them to pay someone $1200 who does 3 trades for $15 in a year and then transfers somewhere else.
I think we may have seen the high water mark on a golden age of bank, credit card, and brokerage bonuses. I'll keep riding that pony until it dies. Oh well. If it ends tomorrow, I can buy a desirable used car with the money they gave me for almost nothing.
Agreed. I have 350k miles on United and not one is from an actual flight I took :D .

I've gone on trips that frankly, I would have never spent the money on due to miles from CC bonuses. I went on a trip where I had to fly to Dubai and return from Tokyo and used 60k miles which was ONE credit card bonus.

I'll milk them as long as I can, but I am not optimistic about their longevity.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Earl Lemongrab » Thu Mar 28, 2019 6:42 pm

whodidntante wrote:
Thu Mar 28, 2019 6:28 pm
I think we may have seen the high water mark on a golden age of bank, credit card, and brokerage bonuses. I'll keep riding that pony until it dies. Oh well. If it ends tomorrow, I can buy a desirable used car with the money they gave me for almost nothing.
For brokerage bonuses, I think the high mark was a few years ago. Through merger and dropout, the number of players has dropped significantly. Some of the custodians I have used to get bonuses in the past are: OptionsHouse, Tradeking, Schwab[1], Scottrade, Fidelity, Sharebuilder, and BancWest. All either stopped giving bonus in my range, were absorbed by someone else, or both.

I used to have a table of the custodians, their bonus offers, and when I last used them. Now I don't really need that. The only reliable ones right now are TD Ameritrade, Etrade, and Merrill Edge. Ally is a one and done option.

So yeah, keep it up until they shut it down.

[1] Schwab advertises one for stock plan participants. I mean to try to see if I can pursuade the promotions team to give me a similar one for a transfer.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by whodidntante » Thu Mar 28, 2019 6:51 pm

Earl Lemongrab wrote:
Thu Mar 28, 2019 6:42 pm

[1] Schwab advertises one for stock plan participants. I mean to try to see if I can pursuade the promotions team to give me a similar one for a transfer.
I tried. They said no.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by snowman » Thu Mar 28, 2019 7:39 pm

I only jumped on the bandwagon this time last year, thanks to this thread and especially Earl. All these years I was afraid I will mess something up.

Once I got over the fear and did each bonus category once - investments, CCs, banks - it became routine. Collected about 15 bonuses in the past year, most of them tax-free.

My son was home for spring break last week and I told him how to get 3 easy bank bonuses. He signed up immediately, and by yesterday he already received 2, and is just waiting on the last one to show up. When it's that easy to get free money, I don't see it lasting much longer.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by michaeljc70 » Mon Apr 01, 2019 12:22 pm

michaeljc70 wrote:
Wed Mar 27, 2019 6:42 pm
I finally got around to applying for the Ally account/bonus. $1200 for $500k+. Hopefully no issues. Most of these you have to stay around a year. An extra $1200 a year for about an hours work seems like a good deal to me. I haven't seen major differences between all the (many) brokerages I've been. I rebalance once a year so trading costs are practically non-existent. I have very low cost ETFs. I don't add $$$ any more (this is a tIRA).
TDA called me about the transfer. They offered the same $1200 and free trades (which I don't need). I agreed to keep it there. There was no timeframe that I needed to keep the account there stipulated. In a case like this, how long would you wait to transfer again for another bonus? Though legally it seems I could move it the day after I get the bonus, it seems ethically/morally I should keep the $$$ there for some period of time.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Leesbro63 » Mon Apr 01, 2019 12:24 pm

I would leave it there at least as long as their current “new money” bonus lock up period. Seems fair.
Last edited by Leesbro63 on Mon Apr 01, 2019 2:51 pm, edited 1 time in total.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by grkmec » Mon Apr 01, 2019 2:09 pm

I was able to negotiate a $2k bonus for 1 million transfer into Merrill Edge with 90 day hold as part of mortgage refi process.... a few questions for those with an Edge Account:

1) Can you buy T-bills and what is the cost? I am coming from Vanguard so I am used to free :)
2) What are the money market options? Is there an equivalent to VUSXX ?

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by cashmoney » Mon Apr 01, 2019 2:48 pm

michaeljc70 wrote:
Mon Apr 01, 2019 12:22 pm
michaeljc70 wrote:
Wed Mar 27, 2019 6:42 pm
I finally got around to applying for the Ally account/bonus. $1200 for $500k+. Hopefully no issues. Most of these you have to stay around a year. An extra $1200 a year for about an hours work seems like a good deal to me. I haven't seen major differences between all the (many) brokerages I've been. I rebalance once a year so trading costs are practically non-existent. I have very low cost ETFs. I don't add $$$ any more (this is a tIRA).
TDA called me about the transfer. They offered the same $1200 and free trades (which I don't need). I agreed to keep it there. There was no timeframe that I needed to keep the account there stipulated. In a case like this, how long would you wait to transfer again for another bonus? Though legally it seems I could move it the day after I get the bonus, it seems ethically/morally I should keep the $$$ there for some period of time.




Was it the local branch of Ameritrade that called you ? Did they ask you what you were being offered then matched it ?

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by michaeljc70 » Mon Apr 01, 2019 2:56 pm

cashmoney wrote:
Mon Apr 01, 2019 2:48 pm
michaeljc70 wrote:
Mon Apr 01, 2019 12:22 pm
michaeljc70 wrote:
Wed Mar 27, 2019 6:42 pm
I finally got around to applying for the Ally account/bonus. $1200 for $500k+. Hopefully no issues. Most of these you have to stay around a year. An extra $1200 a year for about an hours work seems like a good deal to me. I haven't seen major differences between all the (many) brokerages I've been. I rebalance once a year so trading costs are practically non-existent. I have very low cost ETFs. I don't add $$$ any more (this is a tIRA).
TDA called me about the transfer. They offered the same $1200 and free trades (which I don't need). I agreed to keep it there. There was no timeframe that I needed to keep the account there stipulated. In a case like this, how long would you wait to transfer again for another bonus? Though legally it seems I could move it the day after I get the bonus, it seems ethically/morally I should keep the $$$ there for some period of time.




Was it the local branch of Ameritrade that called you ? Did they ask you what you were being offered then matched it ?
Yes. It was the local branch. I told them I was getting a $1200 bonus. He asked if they could match it or even possibly beat it if I would consider staying. I said yes. He called me back not long after and said that due to regulations (or maybe rules) with an IRA, they couldn't beat it but would give me the $1200 if I stayed. They never inquired about the locked down period. They didn't even know I was going to Ally as apparently they only saw the name of the clearing company.

I have no idea if there are external rules/regulations on bonus amounts for IRAs or what they would be since I know if you transfer a million bucks Ally will give a $2500 bonus.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by cashmoney » Mon Apr 01, 2019 3:07 pm

michaeljc70 wrote:
Mon Apr 01, 2019 2:56 pm
cashmoney wrote:
Mon Apr 01, 2019 2:48 pm
michaeljc70 wrote:
Mon Apr 01, 2019 12:22 pm
michaeljc70 wrote:
Wed Mar 27, 2019 6:42 pm
I finally got around to applying for the Ally account/bonus. $1200 for $500k+. Hopefully no issues. Most of these you have to stay around a year. An extra $1200 a year for about an hours work seems like a good deal to me. I haven't seen major differences between all the (many) brokerages I've been. I rebalance once a year so trading costs are practically non-existent. I have very low cost ETFs. I don't add $$$ any more (this is a tIRA).
TDA called me about the transfer. They offered the same $1200 and free trades (which I don't need). I agreed to keep it there. There was no timeframe that I needed to keep the account there stipulated. In a case like this, how long would you wait to transfer again for another bonus? Though legally it seems I could move it the day after I get the bonus, it seems ethically/morally I should keep the $$$ there for some period of time.




Was it the local branch of Ameritrade that called you ? Did they ask you what you were being offered then matched it ?
Yes. It was the local branch. I told them I was getting a $1200 bonus. He asked if they could match it or even possibly beat it if I would consider staying. I said yes. He called me back not long after and said that due to regulations (or maybe rules) with an IRA, they couldn't beat it but would give me the $1200 if I stayed. They never inquired about the locked down period. They didn't even know I was going to Ally as apparently they only saw the name of the clearing company.

I have no idea if there are external rules/regulations on bonus amounts for IRAs or what they would be since I know if you transfer a million bucks Ally will give a $2500 bonus.


Thanks for that.I think I may call Ameritrade and ask for a retention bonus because I really dont want want to go to Ally.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by michaeljc70 » Mon Apr 01, 2019 3:23 pm

cashmoney wrote:
Mon Apr 01, 2019 3:07 pm
michaeljc70 wrote:
Mon Apr 01, 2019 2:56 pm
cashmoney wrote:
Mon Apr 01, 2019 2:48 pm
michaeljc70 wrote:
Mon Apr 01, 2019 12:22 pm
michaeljc70 wrote:
Wed Mar 27, 2019 6:42 pm
I finally got around to applying for the Ally account/bonus. $1200 for $500k+. Hopefully no issues. Most of these you have to stay around a year. An extra $1200 a year for about an hours work seems like a good deal to me. I haven't seen major differences between all the (many) brokerages I've been. I rebalance once a year so trading costs are practically non-existent. I have very low cost ETFs. I don't add $$$ any more (this is a tIRA).
TDA called me about the transfer. They offered the same $1200 and free trades (which I don't need). I agreed to keep it there. There was no timeframe that I needed to keep the account there stipulated. In a case like this, how long would you wait to transfer again for another bonus? Though legally it seems I could move it the day after I get the bonus, it seems ethically/morally I should keep the $$$ there for some period of time.




Was it the local branch of Ameritrade that called you ? Did they ask you what you were being offered then matched it ?
Yes. It was the local branch. I told them I was getting a $1200 bonus. He asked if they could match it or even possibly beat it if I would consider staying. I said yes. He called me back not long after and said that due to regulations (or maybe rules) with an IRA, they couldn't beat it but would give me the $1200 if I stayed. They never inquired about the locked down period. They didn't even know I was going to Ally as apparently they only saw the name of the clearing company.

I have no idea if there are external rules/regulations on bonus amounts for IRAs or what they would be since I know if you transfer a million bucks Ally will give a $2500 bonus.


Thanks for that.I think I may call Ameritrade and ask for a retention bonus because I really dont want want to go to Ally.
It is worth a try. I do know though with some retention departments I've dealt with you have to be half way out the door before they do something. After calling Directv/Comcast/AT&T about 20 times, anytime I asked if there was a promotion I was told no or given some mediocre deal. Just about every time I called and said I want to cancel the services, they came up with something better.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by SlowMovingInvestor » Mon Apr 01, 2019 4:38 pm

You Invest Cash bonus

$625 for $250K+, but IRAs are allowed, so you can transfer an IRA over without worrying about cost basis. Not as good as some other deals.

https://accounts.chase.com/consumer/inv ... me_3/trip1

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

Post by dual » Mon Apr 01, 2019 4:59 pm

grkmec wrote:
Mon Apr 01, 2019 2:09 pm
a few questions for those with an Edge Account:

1) Can you buy T-bills and what is the cost? I am coming from Vanguard so I am used to free :)
That is a negative for Merrill. I could not find a way to order Tbills at auction through their website. I called and they said it had to be ordered through a broker with a $30 fee.

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

Post by SlowMovingInvestor » Mon Apr 01, 2019 5:02 pm

dual wrote:
Mon Apr 01, 2019 4:59 pm
grkmec wrote:
Mon Apr 01, 2019 2:09 pm
a few questions for those with an Edge Account:

1) Can you buy T-bills and what is the cost? I am coming from Vanguard so I am used to free :)
That is a negative for Merrill. I could not find a way to order Tbills at auction through their website. I called and they said it had to be ordered through a broker with a $30 fee.
Really ? I would think they would waive the fee if they don't allow something to be done through their web site. At least if one is Platinum honors.

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

Post by dual » Mon Apr 01, 2019 5:08 pm

SlowMovingInvestor wrote:
Mon Apr 01, 2019 5:02 pm

That is a negative for Merrill. I could not find a way to order Tbills at auction through their website. I called and they said it had to be ordered through a broker with a $30 fee.


Really ? I would think they would waive the fee if they don't allow something to be done through their web site. At least if one is Platinum honors.
I have that status. I have to admit I did not press the CSR to waive the fee but he did not volunteer to do it.

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

Post by WildcatTofu » Mon Apr 01, 2019 8:47 pm

SlowMovingInvestor wrote:
Tue Aug 14, 2018 7:07 pm
I contacted another Schwab office about possible promos/bonuses. Was told that the only thing they had right now was 500 free trades or some golf related bonuses. Neither interesting to me :)
Yep. It seems like Schwab does not offer incentive bonus to existing customers. They just want to win your asset with overall cost structure and services.

I called Schwab today and asked what kind of incentive bonus do they offer if I transfer 250k to 500k to them. The local office says the only promo they have is 500 free trades for 100k transferred asset.

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

Post by Mike14 » Thu Apr 04, 2019 1:01 am

michaeljc70 wrote:
Wed Mar 27, 2019 6:42 pm
I finally got around to applying for the Ally account/bonus. $1200 for $500k+.
TDA called me about the transfer. They offered the same $1200 and free trades (which I don't need).
Did Ally initiate the transfer or TDA? After agreeing to stay with TDA, did Ally inform you that the transfer was rejected?
I didn't know that the sending firm can delay the transfer process, I thought it was done automatically with strict deadlines.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by michaeljc70 » Thu Apr 04, 2019 6:16 am

Mike14 wrote:
Thu Apr 04, 2019 1:01 am
michaeljc70 wrote:
Wed Mar 27, 2019 6:42 pm
I finally got around to applying for the Ally account/bonus. $1200 for $500k+.
TDA called me about the transfer. They offered the same $1200 and free trades (which I don't need).
Did Ally initiate the transfer or TDA? After agreeing to stay with TDA, did Ally inform you that the transfer was rejected?
I didn't know that the sending firm can delay the transfer process, I thought it was done automatically with strict deadlines.
Ally initiated it. Tda called to verify it. I don't know the legalities or rules, but I imagine that is within their right. I got an email from Ally saying the transfer was rescinded. The same thing happened a few years ago when going from E-Trade to Tda (the first time).

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by hailstate » Thu Apr 04, 2019 12:08 pm

Hadn't seen this posted for 2019 yet, so apologies if a repeat. The higher E*Trade offer is back with a Dec 2019 expiration.

https://us.etrade.com/what-we-offer/how ... d=95341849

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

Post by Earl Lemongrab » Thu Apr 04, 2019 12:44 pm

hailstate wrote:
Thu Apr 04, 2019 12:08 pm
Hadn't seen this posted for 2019 yet, so apologies if a repeat. The higher E*Trade offer is back with a Dec 2019 expiration.

https://us.etrade.com/what-we-offer/how ... d=95341849
The somewhat higher offer. They have had ones for $1000 at 250k in the past. I get targeted ones at that level on occasion. In fact I need to get a transfer made for one of those before it runs out.

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

Post by capjak » Thu Apr 04, 2019 1:26 pm

Has anyone gotten any "custom" offers from Merrill Edge and what were they?

I know they will do custom offers if you transfer higher $$$ but have to keep the money in the account longer to get it.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by snowman » Thu Apr 04, 2019 2:29 pm

hailstate wrote:
Thu Apr 04, 2019 12:08 pm
Hadn't seen this posted for 2019 yet, so apologies if a repeat. The higher E*Trade offer is back with a Dec 2019 expiration.

https://us.etrade.com/what-we-offer/how ... d=95341849
This is a very generous offer at the 25K level, though it says: "You must be the original recipient of this offer to enroll." Any idea how to qualify if I am not ETrade customer? I don't see any promo code listed. Will clicking on "Account type" automatically apply bonus offer? Or am I out of luck? Asking all veteran bonus chasers...

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

Post by hailstate » Fri Apr 05, 2019 11:36 am

This is a very generous offer at the 25K level, though it says: "You must be the original recipient of this offer to enroll." Any idea how to qualify if I am not ETrade customer? I don't see any promo code listed. Will clicking on "Account type" automatically apply bonus offer? Or am I out of luck? Asking all veteran bonus chasers...
I did the exact same E*Trade offer with the exact same language last year. I was not "targeted." Once I found the link, I emailed my local branch and requested an appointment. I told them I would like to open an account and transfer in securities using that offer, and asked them to confirm. No problems.

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

Post by JustinR » Fri Apr 05, 2019 10:43 pm

Will Etrade let you get a second bonus with a first account still open?

I have an empty Etrade account that got a bonus last year. Wondering if I should close it now, or leave it open but empty.

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

Post by Earl Lemongrab » Sat Apr 06, 2019 1:53 am

Open accounts with a few dollars seems to attract targeted offers from Etrade. I just got one for an old Roth with a few bucks.

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

Post by JustinR » Sat Apr 06, 2019 2:21 am

Earl Lemongrab wrote:
Sat Apr 06, 2019 1:53 am
Open accounts with a few dollars seems to attract targeted offers from Etrade. I just got one for an old Roth with a few bucks.
So you can just open Etrade Account #2 for bonus #2?

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

Post by Earl Lemongrab » Sat Apr 06, 2019 12:38 pm

JustinR wrote:
Sat Apr 06, 2019 2:21 am
Earl Lemongrab wrote:
Sat Apr 06, 2019 1:53 am
Open accounts with a few dollars seems to attract targeted offers from Etrade. I just got one for an old Roth with a few bucks.
So you can just open Etrade Account #2 for bonus #2?
For the Etrade targeted ads, they tell you which account it's for and give a link to enroll. The fine print on the latest includes: "Offer valid for existing E*TRADE Securities retirement accounts and excludes E*TRADE Securities brokerage . . ."

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

Post by tj » Mon Apr 08, 2019 2:21 pm

JustinR wrote:
Sat Apr 06, 2019 2:21 am
Earl Lemongrab wrote:
Sat Apr 06, 2019 1:53 am
Open accounts with a few dollars seems to attract targeted offers from Etrade. I just got one for an old Roth with a few bucks.
So you can just open Etrade Account #2 for bonus #2?


Absolutely you can. I have two $0 accounts now from two different bonus offers. They don't seem to care

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

Post by Mike14 » Tue Apr 09, 2019 10:26 pm

Will etrade pay out 2 bonuses when enrolling for two accounts, let say 1 for tIRA and 1 for Roth? Or one brokerage and one retirement?
Last edited by Mike14 on Tue Apr 09, 2019 10:35 pm, edited 1 time in total.

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

Post by tj » Tue Apr 09, 2019 10:28 pm

Mike14 wrote:
Tue Apr 09, 2019 10:26 pm
Does etrade allow 2 bonuses simultaneously? 1 for tIRA and 1 for Roth? Or one brokerage and one retirement?
What do the terms and conditions say?

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