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 » Sun Jul 09, 2017 4:10 pm

*3!4!/5! wrote:While MEdge seems easiest and most fee-free of the "for-profit" brokerages, in the absence of bonuses I would be 100% at Vanguard with no hesitation.
Not me for me. The Preferred Rewards program also gives me a 75% increase in BOA credit card rewards. That gives me 3.5% on groceries and 5.25% on gas all the time. Add in responsive 24/7 support, it's a clear win over Vanguard.
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by *3!4!/5! » Sun Jul 09, 2017 4:21 pm

I agree the Preferred Rewards program may justify parking $100k in static investments at MEdge (I do this), but not much more than that. We don't know the long-term prospect of the program, and the dollar benefit is modest.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by triceratop » Sun Jul 09, 2017 4:29 pm

Earl Lemongrab wrote:
*3!4!/5! wrote:While MEdge seems easiest and most fee-free of the "for-profit" brokerages, in the absence of bonuses I would be 100% at Vanguard with no hesitation.
Not me for me. The Preferred Rewards program also gives me a 75% increase in BOA credit card rewards. That gives me 3.5% on groceries and 5.25% on gas all the time. Add in responsive 24/7 support, it's a clear win over Vanguard.
For general spend do you have a better deal than the 2.625% travel rewards card? Is that why you left that off?
I agree the Preferred Rewards program may justify parking $100k in static investments at MEdge (I do this), but not much more than that. We don't know the long-term prospect of the program, and the dollar benefit is modest.
If one uses ETFs there is no reason not to hold all of one's assets at MEdge anyway, because there is no disadvantage, either. If the program ends one can always transfer to TD Ameritrade or Wells etc.
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by *3!4!/5! » Sun Jul 09, 2017 4:33 pm

I vastly prefer (Admiral) mutual funds over ETFs. I can see why ETFers would be fine with MEdge, but for me there's an opportunity cost to weigh in. I use BoA/ME/PR, but it's not a slam dunk for me.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Earl Lemongrab » Sun Jul 09, 2017 5:18 pm

*3!4!/5! wrote:I agree the Preferred Rewards program may justify parking $100k in static investments at MEdge (I do this), but not much more than that. We don't know the long-term prospect of the program, and the dollar benefit is modest.
Sure, if you prefer Admiral then that would be a reason to use Vanguard. I prefer ETFs. For the ETF investor there are no benefits at Vanguard that aren't available at Merrill. If the program ends, then that's the time to move.
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Mrxyz » Mon Jul 10, 2017 10:16 pm

I have BOA for checking accounts. I have Vanguard admiral funds in my taxable account which I can move easily. I cannot move my IRAs. I know I will have to pay taxes on the bonuses. I have 250G plus x 2 for me and spouse for 2 accounts. I would feel more comfortable with a shorter duration and thus Merrill Edge with 90 days of investment, and $600 bonus versus TD ameritrade with $1000 bonus for 12 months..........unless I did not get the details correct. I presume that my investments in Vanguard fund type will remain unchanged -The funds are 'rolled over' in kind.
Thanks

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by SlowMovingInvestor » Tue Jul 11, 2017 7:59 am

I am about to initiate multiple transfers out of a 'temporary' rollover IRA to different firms -- thanks for the suggestions about opening multiple accounts to get multiple bonuses.

1) I am wondering if there could be issues if there were multiple transfer requests to an IRA at one firm (Fido) from external firms. In order to meet the deadline for funding accounts, I probably wouldn't be able to submit these requests sequentially, I will also take care to designate different holdings to be transferred to different firms, to prevent any clashes (except the cash account). Could any problems arise from the multiple parallel requests even with these precautions ?

2) I'm assuming I won't get 1099-Rs for this (since they are trustee to trustee transfers), but will get a Form 5498. [ The original rollover from a 401k to the rollover IRAs will lead to a 1099R -- actually 2, since part went to a Roth, and part to a regular IRA]. is that correct ?

3) I'm doing some rebalancing/converting to ETFs prior to transferring. Do I have to wait till the settlement periods are over before initiating a transfer ?

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Earl Lemongrab » Tue Jul 11, 2017 9:36 am

Mrxyz wrote:I have BOA for checking accounts. I have Vanguard admiral funds in my taxable account which I can move easily. I cannot move my IRAs. I know I will have to pay taxes on the bonuses. I have 250G plus x 2 for me and spouse for 2 accounts. I would feel more comfortable with a shorter duration and thus Merrill Edge with 90 days of investment, and $600 bonus versus TD ameritrade with $1000 bonus for 12 months..........unless I did not get the details correct. I presume that my investments in Vanguard fund type will remain unchanged -The funds are 'rolled over' in kind.
Thanks
Based on your message in another thread, I believe your IRA is with TIAA. It's possible that it is a "deemed" IRA, meaning that it's administered along with the 401(k). Even if so, the distribution rules follow that for IRAs not 401(k)s. That should be able to transfer unless you have a particular holding that prevents it. I would check with the custodian.

I have not done it, but my understanding is that Merrill Edge will allow transferring over Vanguard Admiral shares and reinvesting distributions, but not purchasing new shares.
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Earl Lemongrab » Tue Jul 11, 2017 9:42 am

SlowMovingInvestor wrote:1) I am wondering if there could be issues if there were multiple transfer requests to an IRA at one firm (Fido) from external firms. In order to meet the deadline for funding accounts, I probably wouldn't be able to submit these requests sequentially, I will also take care to designate different holdings to be transferred to different firms, to prevent any clashes (except the cash account). Could any problems arise from the multiple parallel requests even with these precautions ?
The only problem I have ever had was splitting an ETF holding to go to different receiving custodians. Because there were fractional shares, the original custodian didn't know what to do with them, so they remained behind. I had to deal with that.
2) I'm assuming I won't get 1099-Rs for this (since they are trustee to trustee transfers), but will get a Form 5498. [ The original rollover from a 401k to the rollover IRAs will lead to a 1099R -- actually 2, since part went to a Roth, and part to a regular IRA]. is that correct ?
That sounds about right.
3) I'm doing some rebalancing/converting to ETFs prior to transferring. Do I have to wait till the settlement periods are over before initiating a transfer ?
I probably would do that. It's possible that the sender would wait regardless.
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Mrxyz » Sat Jul 15, 2017 12:32 am

Earl Lemongrab wrote:
Mrxyz wrote:I have BOA for checking accounts. I have Vanguard admiral funds in my taxable account which I can move easily. I cannot move my IRAs. I know I will have to pay taxes on the bonuses. I have 250G plus x 2 for me and spouse for 2 accounts. I would feel more comfortable with a shorter duration and thus Merrill Edge with 90 days of investment, and $600 bonus versus TD ameritrade with $1000 bonus for 12 months..........unless I did not get the details correct. I presume that my investments in Vanguard fund type will remain unchanged -The funds are 'rolled over' in kind.
Thanks
Based on your message in another thread, I believe your IRA is with TIAA. It's possible that it is a "deemed" IRA, meaning that it's administered along with the 401(k). Even if so, the distribution rules follow that for IRAs not 401(k)s. That should be able to transfer unless you have a particular holding that prevents it. I would check with the custodian.

I have not done it, but my understanding is that Merrill Edge will allow transferring over Vanguard Admiral shares and reinvesting distributions, but not purchasing new shares.

I spoke and emailed the Merrill rep - he has matched the other offer and will give me $1000 bonus for $250k investment over 12 months.
The funds are my taxable account and they will be transferred in kind and dividends will be reinvested - as you have mentioned.

Glad to make some bonus money. My total for this (my first) year will be $3800! I did not know any of this until recently - I am so glad to find out these bonus websites and information.
Thanks !

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by pre » Sat Jul 15, 2017 12:38 am

^^Great news, thanks for sharing.

ME's not had their $1000 bonus for $200k for quite a while now. Will certainly contact a rep next time time about matching something, myself.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Mrxyz » Sat Jul 15, 2017 12:43 am

pre wrote:^^Great news, thanks for sharing.

ME's not had their $1000 bonus for $200k for quite a while now. Will certainly contact a rep next time time about matching something, myself.
They matched it to $250K and not $200K.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by pre » Sat Jul 15, 2017 1:11 am

Mrxyz wrote:
pre wrote:^^Great news, thanks for sharing.

ME's not had their $1000 bonus for $200k for quite a while now. Will certainly contact a rep next time time about matching something, myself.
They matched it to $250K and not $200K.
Right, the public offer's traditionally been for that $100k-to-$200k tier, but it's not been available since 2016. So rather than passively waiting, it makes sense to just ask a rep to match

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Mrxyz » Sat Jul 15, 2017 4:26 am

FWIW,
The TD ameritrade bonus offer has dropped to $600 from $1000 for $250 k investment.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Earl Lemongrab » Sat Jul 15, 2017 10:02 am

Mrxyz wrote:FWIW,
The TD ameritrade bonus offer has dropped to $600 from $1000 for $250 k investment.
Like Merrill Edge, they have a standing offer and have the $1000 offer sometimes. The last one was extended at the last minute, but it looks as though it expired at the end of June.
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by SlowMovingInvestor » Mon Jul 17, 2017 6:00 pm

Earl

I think you mentioned earlier that you were going to try and get a Scottrade bonus (might be the last opportunity before they merge with Etrade). Did you go ahead with that ?

It seems like Scottrade's best bonus right now is around $300 for 100K, $600 for 250 K and so on. No competing bonus for them to match either. And retention period of 1 year. Not particularly generous

Thanks !

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Earl Lemongrab » Mon Jul 17, 2017 8:40 pm

I have not. It's not that bad of a bonus for me because I some funds and the only ones I haven't used recently are Capital One, Scottrade, and Schwab. I need to look into the latter and see if I need to get rid of small accounts to qualify.
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Ron Ronnerson » Mon Jul 17, 2017 9:33 pm

SlowMovingInvestor wrote:Earl

I think you mentioned earlier that you were going to try and get a Scottrade bonus (might be the last opportunity before they merge with Etrade). Did you go ahead with that ?

It seems like Scottrade's best bonus right now is around $300 for 100K, $600 for 250 K and so on. No competing bonus for them to match either. And retention period of 1 year. Not particularly generous

Thanks !
While this isn't addressed to me, I thought I'd let you know my experience with Scottrade as well. A few months ago, I initiated a transfer of a little over $250k in a brokerage account from Scottrade to TD Ameritrade. Scottrade called me and asked me why I was transferring the funds. I explained it was to collect a bonus. They asked how much the bonus was for. I told them it was for $1k along with a $200 referral bonus for a total of $1200 (the referral would have gone to my wife's brokerage account at TDA). Scottrade asked if I would stay with them if they could match the bonus. I said no because I'd already done a bunch of paperwork and they would need to do better than $1200. They asked how much would get me to stay. I proposed $1500. They said they'd check and call me back the next day after speaking with someone in the department that handled these things. They called back the following day and countered with $1300. I accepted and kept the account at Scottrade. It should turn into a TD Ameritrade account on its own in a few months once their merger or acquisition is complete.

You may want to try calling them and see what they can offer. There's nothing to lose.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by pre » Mon Jul 17, 2017 10:24 pm

Ron Ronnerson wrote:
SlowMovingInvestor wrote:Earl

I think you mentioned earlier that you were going to try and get a Scottrade bonus (might be the last opportunity before they merge with Etrade). Did you go ahead with that ?

It seems like Scottrade's best bonus right now is around $300 for 100K, $600 for 250 K and so on. No competing bonus for them to match either. And retention period of 1 year. Not particularly generous

Thanks !
While this isn't addressed to me, I thought I'd let you know my experience with Scottrade as well. A few months ago, I initiated a transfer of a little over $250k in a brokerage account from Scottrade to TD Ameritrade. Scottrade called me and asked me why I was transferring the funds. I explained it was to collect a bonus. They asked how much the bonus was for. I told them it was for $1k along with a $200 referral bonus for a total of $1200 (the referral would have gone to my wife's brokerage account at TDA). Scottrade asked if I would stay with them if they could match the bonus. I said no because I'd already done a bunch of paperwork and they would need to do better than $1200. They asked how much would get me to stay. I proposed $1500. They said they'd check and call me back the next day after speaking with someone in the department that handled these things. They called back the following day and countered with $1300. I accepted and kept the account at Scottrade. It should turn into a TD Ameritrade account on its own in a few months once their merger or acquisition is complete.

You may want to try calling them and see what they can offer. There's nothing to lose.
Thanks for the data point -- may I ask if Scottrade HQ called you up, or a local rep?

I tried to do bonuses with Scottrade twice in recent years and HQ had me deal with the local branch both times. The local guys, unfortunately, weren't very eager to help or match. Eventually did one round with them. Didn't hear a peep when I transferred out a year later... But seeing how the TDA merger is near, it may be time to give it another go :)

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Ron Ronnerson » Tue Jul 18, 2017 12:15 am

pre wrote:
Ron Ronnerson wrote:
SlowMovingInvestor wrote:Earl

I think you mentioned earlier that you were going to try and get a Scottrade bonus (might be the last opportunity before they merge with Etrade). Did you go ahead with that ?

It seems like Scottrade's best bonus right now is around $300 for 100K, $600 for 250 K and so on. No competing bonus for them to match either. And retention period of 1 year. Not particularly generous

Thanks !
While this isn't addressed to me, I thought I'd let you know my experience with Scottrade as well. A few months ago, I initiated a transfer of a little over $250k in a brokerage account from Scottrade to TD Ameritrade. Scottrade called me and asked me why I was transferring the funds. I explained it was to collect a bonus. They asked how much the bonus was for. I told them it was for $1k along with a $200 referral bonus for a total of $1200 (the referral would have gone to my wife's brokerage account at TDA). Scottrade asked if I would stay with them if they could match the bonus. I said no because I'd already done a bunch of paperwork and they would need to do better than $1200. They asked how much would get me to stay. I proposed $1500. They said they'd check and call me back the next day after speaking with someone in the department that handled these things. They called back the following day and countered with $1300. I accepted and kept the account at Scottrade. It should turn into a TD Ameritrade account on its own in a few months once their merger or acquisition is complete.

You may want to try calling them and see what they can offer. There's nothing to lose.
Thanks for the data point -- may I ask if Scottrade HQ called you up, or a local rep?

I tried to do bonuses with Scottrade twice in recent years and HQ had me deal with the local branch both times. The local guys, unfortunately, weren't very eager to help or match. Eventually did one round with them. Didn't hear a peep when I transferred out a year later... But seeing how the TDA merger is near, it may be time to give it another go :)
It was the local office. I've transferred in and out of Scottrade a couple of times for bonuses with various accounts of different sizes. They have not been consistent in terms of matching offers but were eager to keep my business this last time. I once called and asked about a retention bonus before initiating a transfer and my local rep said he'd need to speak with someone and get back to me. I continued with the transfer that time because they couldn't beat the other offer. I'm not sure how they decide how much of a transfer/retention bonus to offer but suspect it has something to do with the amount in question. Since it only requires a phone call, there is little downside to seeing what they might offer you.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by SlowMovingInvestor » Tue Jul 18, 2017 6:41 am

Unfortunately, current public brokerage bonuses are a lot worse than those avalable in the first quarter of the year. They are not even as good as those available just a few weeks back (Q2) -- unless one is willing to transfer $1M or so. Without public competing bonuses, Scottrade and others might feel less pressure to offer a decent bonus.

Still there is no harm trying -- especially since this may be the last chance to get some money out of Scottrade. And once they merge with Ameritrade, I presume they'll eventually get Vanguard ETFs commission free.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by MisterBill » Tue Jul 18, 2017 9:30 am

SlowMovingInvestor wrote:Unfortunately, current public brokerage bonuses are a lot worse than those avalable in the first quarter of the year. They are not even as good as those available just a few weeks back (Q2) -- unless one is willing to transfer $1M or so. Without public competing bonuses, Scottrade and others might feel less pressure to offer a decent bonus.
I just looked at Fidelity figuring I could get some money for rolling over a lump sum. I was shocked to see that the only current offers are for free trades, which is useless to me. I thought their dollars/Apple/miles offers were ongoing.

I got my $1000 bonus from Merrill Edge credited yesterday. Like others 6 months + 1 week after I met the balance requirement.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Mrxyz » Tue Jul 18, 2017 5:34 pm

Mrxyz wrote:
Earl Lemongrab wrote:
Mrxyz wrote:I have BOA for checking accounts. I have Vanguard admiral funds in my taxable account which I can move easily. I cannot move my IRAs. I know I will have to pay taxes on the bonuses. I have 250G plus x 2 for me and spouse for 2 accounts. I would feel more comfortable with a shorter duration and thus Merrill Edge with 90 days of investment, and $600 bonus versus TD ameritrade with $1000 bonus for 12 months..........unless I did not get the details correct. I presume that my investments in Vanguard fund type will remain unchanged -The funds are 'rolled over' in kind.
Thanks
Based on your message in another thread, I believe your IRA is with TIAA. It's possible that it is a "deemed" IRA, meaning that it's administered along with the 401(k). Even if so, the distribution rules follow that for IRAs not 401(k)s. That should be able to transfer unless you have a particular holding that prevents it. I would check with the custodian.

I have not done it, but my understanding is that Merrill Edge will allow transferring over Vanguard Admiral shares and reinvesting distributions, but not purchasing new shares.

I spoke and emailed the Merrill rep - he has matched the other offer and will give me $1000 bonus for $250k investment over 12 months.
The funds are my taxable account and they will be transferred in kind and dividends will be reinvested - as you have mentioned.

Glad to make some bonus money. My total for this (my first) year will be $3800! I did not know any of this until recently - I am so glad to find out these bonus websites and information.
Thanks !

So, I am waiting for the ME account process to be completed for the approved $1000 bonus.
I have now asked the TD Ameritrade rep to match the ME $1000 bonus..........let's see if that works!

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by SlowMovingInvestor » Tue Jul 18, 2017 7:02 pm

Mrxyz wrote: So, I am waiting for the ME account process to be completed for the approved $1000 bonus.
I have now asked the TD Ameritrade rep to match the ME $1000 bonus..........let's see if that works!
I doubt this will work without a competing public bonus to show TDAM, and as I said before, most bonuses seem to have vanished at the end of Q2.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Mrxyz » Tue Jul 18, 2017 9:27 pm

SlowMovingInvestor wrote:
Mrxyz wrote: So, I am waiting for the ME account process to be completed for the approved $1000 bonus.
I have now asked the TD Ameritrade rep to match the ME $1000 bonus..........let's see if that works!
I doubt this will work without a competing public bonus to show TDAM, and as I said before, most bonuses seem to have vanished at the end of Q2.
Lets see what happens.
I am not sure how ME gave me the $1000 bonus when the TDAM bonus was over in March or so.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by investor997 » Tue Jul 18, 2017 11:22 pm

Ron Ronnerson wrote:It was the local office. I've transferred in and out of Scottrade a couple of times for bonuses with various accounts of different sizes. They have not been consistent in terms of matching offers but were eager to keep my business this last time. I once called and asked about a retention bonus before initiating a transfer and my local rep said he'd need to speak with someone and get back to me. I continued with the transfer that time because they couldn't beat the other offer. I'm not sure how they decide how much of a transfer/retention bonus to offer but suspect it has something to do with the amount in question. Since it only requires a phone call, there is little downside to seeing what they might offer you.
I moved about $100K to Scottrade earlier this year & collected $300. I told the local guy I was concerned about their lack of commission free ETFs and that I was aware that TD Ameritrade offered the Vanguard ETFs I wanted for free - I tend to buy them at least monthly and sometimes biweekly, coincident with my pay periods. He told me he'd float me enough free trades to cover me until the TD Ameritrade deal closed. The same guy even called me today to just to check in. Not sure how they're making money over there. They're probably incentivized to do whatever it takes to keep clients from transferring accounts out during this critical time before the TD acquisition closes.

Now I'm wondering if the 12-month countdown on my bonus will get reset when my account gets converted...

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by SlowMovingInvestor » Wed Jul 19, 2017 7:06 am

Mrxyz wrote:
SlowMovingInvestor wrote:
Mrxyz wrote: So, I am waiting for the ME account process to be completed for the approved $1000 bonus.
I have now asked the TD Ameritrade rep to match the ME $1000 bonus..........let's see if that works!
I doubt this will work without a competing public bonus to show TDAM, and as I said before, most bonuses seem to have vanished at the end of Q2.
Lets see what happens.
I am not sure how ME gave me the $1000 bonus when the TDAM bonus was over in March or so.
No, it lasted till the end of June. I had to send the URL to Schwab (in late June) before they would match.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Mrxyz » Fri Jul 21, 2017 7:15 am

Hi all,

Received a flyer in mail from Morgan Stanley today -

Bonus of $500 if I meet the following req. for 3 consecutive months
monthly total DD of $2500 + OR maintain an average daily cash balance of $50,000

AND

Use 2 or more each month of ;
check writing, online bill pay, automated clearing house payments, debit card, morgan stanley card from AE

I will go for this one as doing monthly DD is easy for me and can use their debit card 2 / month for 3 months!

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by whodidntante » Fri Jul 21, 2017 10:18 pm

Mrxyz wrote:Hi all,

Received a flyer in mail from Morgan Stanley today -

Bonus of $500 if I meet the following req. for 3 consecutive months
monthly total DD of $2500 + OR maintain an average daily cash balance of $50,000

AND

Use 2 or more each month of ;
check writing, online bill pay, automated clearing house payments, debit card, morgan stanley card from AE

I will go for this one as doing monthly DD is easy for me and can use their debit card 2 / month for 3 months!
That sounds like a nice bonus!

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by *3!4!/5! » Wed Jul 26, 2017 10:06 pm

I made a new thread for the specific question below, but I'll also ask it here (since a brokerage bonus got me there).

Question: How do you set up automatic dividend reinvestment in mutual funds at E*Trade
viewtopic.php?f=1&t=224252

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

Post by pre » Wed Jul 26, 2017 10:29 pm

*3!4!/5! wrote:I made a new thread for the specific question below, but I'll also ask it here (since a brokerage bonus got me there).

Question: How do you set up automatic dividend reinvestment in mutual funds at E*Trade
viewtopic.php?f=1&t=224252
In the keyword search box, type "dividend reinvestment"

First page it returns is the DRIP option: https://us.etrade.com/e/t/estation/ESDivEnroll

Alternately, to find it manually, Accounts > My Profile > Account Preferences > Account Features: Dividend Reinvestment Plan

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by *3!4!/5! » Wed Jul 26, 2017 10:38 pm

pre wrote:
*3!4!/5! wrote:I made a new thread for the specific question below, but I'll also ask it here (since a brokerage bonus got me there).

Question: How do you set up automatic dividend reinvestment in mutual funds at E*Trade
viewtopic.php?f=1&t=224252
In the keyword search box, type "dividend reinvestment"

First page it returns is the DRIP option: https://us.etrade.com/e/t/estation/ESDivEnroll

Alternately, to find it manually, Accounts > My Profile > Account Preferences > Account Features: Dividend Reinvestment Plan
I'd found that thing, (multiple times, via various paths), but it appears to be for individual stocks, not mutual funds?

I was wondering how to set up automatic dividend reinvestment in mutual funds. I've never had any trouble doing this anywhere else, but at E*Trade I'm totally stumped.

hale2
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by hale2 » Thu Jul 27, 2017 9:48 am

triceratop wrote:
Earl Lemongrab wrote:
*3!4!/5! wrote:While MEdge seems easiest and most fee-free of the "for-profit" brokerages, in the absence of bonuses I would be 100% at Vanguard with no hesitation.
Not me for me. The Preferred Rewards program also gives me a 75% increase in BOA credit card rewards. That gives me 3.5% on groceries and 5.25% on gas all the time. Add in responsive 24/7 support, it's a clear win over Vanguard.
For general spend do you have a better deal than the 2.625% travel rewards card? Is that why you left that off?

I have enough at ME to be eligible for the 75% bonus. To get back to the above, which card is better for general spend, Preferred Rewards or Travel Rewards? We travel enough that we wouldn't have a problem getting eligible travel charges.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by MisterBill » Fri Jul 28, 2017 12:23 am

hale2 wrote:I have enough at ME to be eligible for the 75% bonus. To get back to the above, which card is better for general spend, Preferred Rewards or Travel Rewards? We travel enough that we wouldn't have a problem getting eligible travel charges.
Definitely Travel Rewards. The Cash Rewards card is only going to give you 1.75% on non-gas or grocery charges. TR will give you 2.625%.
Last edited by MisterBill on Fri Jul 28, 2017 4:53 pm, edited 1 time in total.

*3!4!/5!
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by *3!4!/5! » Fri Jul 28, 2017 2:26 am

MisterBill wrote:
hale2 wrote:I have enough at ME to be eligible for the 75% bonus. To get back to the above, which card is better for general spend, Preferred Rewards or Travel Rewards? We travel enough that we wouldn't have a problem getting eligible travel charges.
Definitely Travel Rewards. PR is only going to give you 1.75% on non-gas or grocery charges. TR will give you 2.625%.
Huh? :confused
"Preferred Rewards or Travel Rewards" is giving me cognitive dissonance.
(Also, wrong thread.)

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

Post by Earl Lemongrab » Fri Jul 28, 2017 9:49 am

Right, the actual card with the 1.75% is the cash-back card with the Preferred Rewards boost.
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by MisterBill » Fri Jul 28, 2017 4:52 pm

Earl Lemongrab wrote:Right, the actual card with the 1.75% is the cash-back card with the Preferred Rewards boost.
Too many different "rewards" names! I fixed my post.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Mrxyz » Mon Jul 31, 2017 12:02 pm

whodidntante wrote:
Mrxyz wrote:Hi all,

Received a flyer in mail from Morgan Stanley today -

Bonus of $500 if I meet the following req. for 3 consecutive months
monthly total DD of $2500 + OR maintain an average daily cash balance of $50,000

AND

Use 2 or more each month of ;
check writing, online bill pay, automated clearing house payments, debit card, morgan stanley card from AE

I will go for this one as doing monthly DD is easy for me and can use their debit card 2 / month for 3 months!
That sounds like a nice bonus!
When it's too good to be true..............

No, they also want $1M dollar total within their accounts to 'qualify' for the bonus. So I will pass on this one!!

Working on transferring funds in kind to ME. It was quite painless and easy for me. Not sure about complains on some threads about this process...

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

Post by Earl Lemongrab » Mon Jul 31, 2017 1:22 pm

Mrxyz wrote:Working on transferring funds in kind to ME. It was quite painless and easy for me. Not sure about complains on some threads about this process...
There's always a potential for a hiccup in these things. Generally, my moves from one large custodian to another have been pretty trouble-free. Sometimes policies from the sending institution hold things up. I mentioned before about the $2000 minimum at Scottrade, so I had to turn a partial transfer into a total once. Once on an online transfer I reversed two digits in the account number at the old custodian.
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Mrxyz » Mon Jul 31, 2017 5:29 pm

Earl Lemongrab wrote:
Mrxyz wrote:Working on transferring funds in kind to ME. It was quite painless and easy for me. Not sure about complains on some threads about this process...
There's always a potential for a hiccup in these things. Generally, my moves from one large custodian to another have been pretty trouble-free. Sometimes policies from the sending institution hold things up. I mentioned before about the $2000 minimum at Scottrade, so I had to turn a partial transfer into a total once. Once on an online transfer I reversed two digits in the account number at the old custodian.
Thanks.
I wonder if there should be a wiki on "Bonus churning" Or perhaps a less active wording "How to get repeated bonuses"..........
I have got $1800 for 2017 and will get $2000 for 2018. Its not too difficult to follow the requirements, I have a 'live' email/document to populate anytime I work on a bonus to keep track of things. I will pay taxes on them but 'feels' like free money to me. Maybe I will not continue to do so in coming years - depend on bonuses which are 'churnable' - able to wait till I can reapply for a given bonuse.......everything is online except for a few bonuses, and so moving things/money around is easier than going to a branch.
Is there a thread/list of folks posting their bonus chasing efforts? I have reviewed Fatwallet, Nerdwallet and Quora......surprised that we (boglehead) do not have a listing of such efforts unless I missed it.

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

Post by Earl Lemongrab » Mon Jul 31, 2017 11:30 pm

Mrxyz wrote:Is there a thread/list of folks posting their bonus chasing efforts?
That's the intent of this thread.
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whodidntante
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by whodidntante » Tue Aug 01, 2017 12:25 am

Earl Lemongrab wrote:
Mrxyz wrote:Is there a thread/list of folks posting their bonus chasing efforts?
That's the intent of this thread.
This thread is an awesome compliment to other resources that already exist on the web. I read the updates each time I see it appear near the top of the page. Also, if we attempt to create a second "final, definitive thread" on this topic, no one knows what will happen. The sun could explode, but more likely is that LadyGeek would merge it.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Earl Lemongrab » Wed Aug 02, 2017 1:59 pm

Earl Lemongrab wrote:Today I got one of my favorite type emails:

Congratulations on earning $1,000 by funding your Merrill Edge® account
Here we are almost a year later (time flies!) and I just received another $1000 bonus from Edge. We'll see if they bring back this offer again later in the year.

I have a phone message from Etrade urging me to consider another transfer for bonus. I don't know if the rep has a better offer than their public one:

https://us.etrade.com/what-we-offer/how ... /brokerage

Might be worth a call back on Friday.
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student
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by student » Wed Aug 02, 2017 8:14 pm

In an effort to get bonuses, I opened an account with etrade today. However, my experience so far is negative. During the account opening process, I was ask to set up an external account. I set up my checking account. Afterwards, I decided to add my online savings account. It says for new customer, I have to wait 60 days for my protection. I chatted with them and the CS person said this is policy. I complained about there was no warning at the initial page. Well, most of my money is with the online savings account. I guess I need to do a 2-step process to go from online savings to checking to etrade. I wasn't happy but I can tolerate it. Since I was chatting with him, I asked him about the bonuses. He said there was no promotion that I was enrolled in. I complained and he said he would submit the request. I told him that I will wait a week and check back to see whether the promotion is in place before I transfer the money. Not impressed.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by pre » Wed Aug 02, 2017 9:18 pm

student wrote:In an effort to get bonuses, I opened an account with etrade today. However, my experience so far is negative. During the account opening process, I was ask to set up an external account. I set up my checking account. Afterwards, I decided to add my online savings account. It says for new customer, I have to wait 60 days for my protection. I chatted with them and the CS person said this is policy. I complained about there was no warning at the initial page. Well, most of my money is with the online savings account. I guess I need to do a 2-step process to go from online savings to checking to etrade. I wasn't happy but I can tolerate it. Since I was chatting with him, I asked him about the bonuses. He said there was no promotion that I was enrolled in. I complained and he said he would submit the request. I told him that I will wait a week and check back to see whether the promotion is in place before I transfer the money. Not impressed.
Yea I'd definitely call in and verify your account's been properly coded before transferring funds -- my local rep instructed me to, as well

I just did two accounts, a cash and IRA, and the bonuses credited within 45 days, with these bonus tiers:
Image

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by student » Wed Aug 02, 2017 9:20 pm

pre wrote:
student wrote:In an effort to get bonuses, I opened an account with etrade today. However, my experience so far is negative. During the account opening process, I was ask to set up an external account. I set up my checking account. Afterwards, I decided to add my online savings account. It says for new customer, I have to wait 60 days for my protection. I chatted with them and the CS person said this is policy. I complained about there was no warning at the initial page. Well, most of my money is with the online savings account. I guess I need to do a 2-step process to go from online savings to checking to etrade. I wasn't happy but I can tolerate it. Since I was chatting with him, I asked him about the bonuses. He said there was no promotion that I was enrolled in. I complained and he said he would submit the request. I told him that I will wait a week and check back to see whether the promotion is in place before I transfer the money. Not impressed.
Yea I'd definitely call in and verify your account's been properly coded before transferring funds -- my local rep instructed me to, as well

I just did two accounts, a cash and IRA, and the bonuses credited within 45 days, with these bonus tiers:
Image
Thanks for the feedback. The tiers that you posted is the one that I am suppose to have signed up.

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

Post by student » Thu Aug 03, 2017 7:14 am

student wrote:In an effort to get bonuses, I opened an account with etrade today. However, my experience so far is negative. During the account opening process, I was ask to set up an external account. I set up my checking account. Afterwards, I decided to add my online savings account. It says for new customer, I have to wait 60 days for my protection. I chatted with them and the CS person said this is policy. I complained about there was no warning at the initial page. Well, most of my money is with the online savings account. I guess I need to do a 2-step process to go from online savings to checking to etrade. I wasn't happy but I can tolerate it. Since I was chatting with him, I asked him about the bonuses. He said there was no promotion that I was enrolled in. I complained and he said he would submit the request. I told him that I will wait a week and check back to see whether the promotion is in place before I transfer the money. Not impressed.
Update: I received an email this morning about enrollment of the promotion.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by *3!4!/5! » Thu Aug 03, 2017 8:27 am

student wrote:
student wrote:In an effort to get bonuses, I opened an account with etrade today. However, my experience so far is negative. During the account opening process, I was ask to set up an external account. I set up my checking account. Afterwards, I decided to add my online savings account. It says for new customer, I have to wait 60 days for my protection. I chatted with them and the CS person said this is policy. I complained about there was no warning at the initial page. Well, most of my money is with the online savings account. I guess I need to do a 2-step process to go from online savings to checking to etrade. I wasn't happy but I can tolerate it. Since I was chatting with him, I asked him about the bonuses. He said there was no promotion that I was enrolled in. I complained and he said he would submit the request. I told him that I will wait a week and check back to see whether the promotion is in place before I transfer the money. Not impressed.
Update: I received an email this morning about enrollment of the promotion.
I find it disturbing that they don't automatically sign you up, so that if you don't proactively ask for it, then you miss out.
Also their website has a lot of software errors.

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

Post by Earl Lemongrab » Thu Aug 03, 2017 10:52 am

Did you open the account from the link on the offer page? Normally those automatically code the account for the offer.
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by lazyday » Thu Aug 03, 2017 10:53 am

Was thinking about that etrade offer for an IRA, but the website says
Offer valid for one new E*TRADE Securities non-retirement brokerage account opened by 12/31/2017 and funded within 60 days of account opening with $10,000 or more.

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