Bank of America/Merrill Edge - Preferred Rewards
Bank of America/Merrill Edge - Preferred Rewards
Can someone very intelligent please inbrief me on how/where Bank of America/Merrill Edge/Lynch is making money on the Preferred Rewards - Platinum Honors status when you take the following actions (I do this literally). I have over $100,000 with Merrill Edge.
https://www.bankofamerica.com/preferred-rewards/
Now I get it, most people don't do this, so I am not the normal population:
1. Do not keep money in the Bank of America low paying savings account, so they can't make it on the savings account interest spread.
2. I only buy low cost Vanguard/iShares ETF (and occasionally a Schwab ETF). ER is never more than .12 on any fund. I get 100 free stock/ETF trades per month. I know about the 10% redemption fee for partial shares...I solve that by not reinvesting dividends..I take my dividends, and rebuy after they post and buying up to the next whole share so that doesn't happen. I know they make something on the buy/ask spread on ETF's, but I think with Vanguard, it's pretty small, and for a long-term it's going to be negligible, and it's still cheaper than paying a commission to a broker.
3. The only mutual funds I have are Vanguard and I transferred them in, they have 0 12b:1 fees, and they do free automatic/systematic investing so there's no fee there. I have never paid a fee to them on this either. The highest ER on any fund here is VGTSX which is 0.22. I know I can't hold the Admiral shares version of it even though I have way more than is required, but I buy VXUS now for the same ER, but I am losing $30 per year in dividends/returns the way it is (less than my capital gains taxes would be to change it and I am happy with how things are).
4. They reimburse ATM fees for Platinum Honors.
5. They paid me a bonus for my Roth IRA and my CMA (taxable).
6. Huge one, I have both credit cards, so I get 2.625% on all purchases or 5.25%/3.5%/1.75% for gas/groceries/everything. Always pay credit card in full. Additionally, they gave a bonus to even get each card.
7. Other misc benefits such as free checks, just pretty much non-tangible stuff that's there.
Where are they making their money? Please enlighten me. Is this a teaser promo?
Thanks.
https://www.bankofamerica.com/preferred-rewards/
Now I get it, most people don't do this, so I am not the normal population:
1. Do not keep money in the Bank of America low paying savings account, so they can't make it on the savings account interest spread.
2. I only buy low cost Vanguard/iShares ETF (and occasionally a Schwab ETF). ER is never more than .12 on any fund. I get 100 free stock/ETF trades per month. I know about the 10% redemption fee for partial shares...I solve that by not reinvesting dividends..I take my dividends, and rebuy after they post and buying up to the next whole share so that doesn't happen. I know they make something on the buy/ask spread on ETF's, but I think with Vanguard, it's pretty small, and for a long-term it's going to be negligible, and it's still cheaper than paying a commission to a broker.
3. The only mutual funds I have are Vanguard and I transferred them in, they have 0 12b:1 fees, and they do free automatic/systematic investing so there's no fee there. I have never paid a fee to them on this either. The highest ER on any fund here is VGTSX which is 0.22. I know I can't hold the Admiral shares version of it even though I have way more than is required, but I buy VXUS now for the same ER, but I am losing $30 per year in dividends/returns the way it is (less than my capital gains taxes would be to change it and I am happy with how things are).
4. They reimburse ATM fees for Platinum Honors.
5. They paid me a bonus for my Roth IRA and my CMA (taxable).
6. Huge one, I have both credit cards, so I get 2.625% on all purchases or 5.25%/3.5%/1.75% for gas/groceries/everything. Always pay credit card in full. Additionally, they gave a bonus to even get each card.
7. Other misc benefits such as free checks, just pretty much non-tangible stuff that's there.
Where are they making their money? Please enlighten me. Is this a teaser promo?
Thanks.
Re: Bank of America/Merrill Edge - Preferred Rewards
How big is the credit limit on your 2.625% credit card? More generally, could you have a month when you've maxed out the card and want to charge more but can't?navyitaly wrote:Can someone very intelligent please inbrief me on how/where Bank of America/Merrill Edge/Lynch is making money on the Preferred Rewards - Platinum Honors status when you take the following actions (I do this literally). I have over $100,000 with Merrill Edge.
https://www.bankofamerica.com/preferred-rewards/
Now I get it, most people don't do this, so I am not the normal population:
1. Do not keep money in the Bank of America low paying savings account, so they can't make it on the savings account interest spread.
2. I only buy low cost Vanguard/iShares ETF (and occasionally a Schwab ETF). ER is never more than .12 on any fund. I get 100 free stock/ETF trades per month. I know about the 10% redemption fee for partial shares...I solve that by not reinvesting dividends..I take my dividends, and rebuy after they post and buying up to the next whole share so that doesn't happen. I know they make something on the buy/ask spread on ETF's, but I think with Vanguard, it's pretty small, and for a long-term it's going to be negligible, and it's still cheaper than paying a commission to a broker.
3. The only mutual funds I have are Vanguard and I transferred them in, they have 0 12b:1 fees, and they do free automatic/systematic investing so there's no fee there. I have never paid a fee to them on this either. The highest ER on any fund here is VGTSX which is 0.22. I know I can't hold the Admiral shares version of it even though I have way more than is required, but I buy VXUS now for the same ER, but I am losing $30 per year in dividends/returns the way it is (less than my capital gains taxes would be to change it and I am happy with how things are).
4. They reimburse ATM fees for Platinum Honors.
5. They paid me a bonus for my Roth IRA and my CMA (taxable).
6. Huge one, I have both credit cards, so I get 2.625% on all purchases or 5.25%/3.5%/1.75% for gas/groceries/everything. Always pay credit card in full. Additionally, they gave a bonus to even get each card.
7. Other misc benefits such as free checks, just pretty much non-tangible stuff that's there.
Where are they making their money? Please enlighten me. Is this a teaser promo?
Thanks.
Re: Bank of America/Merrill Edge - Preferred Rewards
$25,000 on the Travel Rewards (2.625%)
$18,000 on the 1.75/3.5/5.25 (Cash Rewards)
No, I couldn't have a month where I could ever max out my credit cards with BofA (not that I charge that much in general, but to answer your question on where they could squeeze profits, they gave a generous limit so no).
My wife also have $10,000 on a cash rewards, so we have it on both ends.
$18,000 on the 1.75/3.5/5.25 (Cash Rewards)
No, I couldn't have a month where I could ever max out my credit cards with BofA (not that I charge that much in general, but to answer your question on where they could squeeze profits, they gave a generous limit so no).
My wife also have $10,000 on a cash rewards, so we have it on both ends.
Re: Bank of America/Merrill Edge - Preferred Rewards
They don't make money off of you. They make money off of folks who don't use their features as wisely as you do. Furthermore, they prevent the competition from having your money.
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Re: Bank of America/Merrill Edge - Preferred Rewards
I agree. I've had a $100K Merrill Edge account for a couple of months, filled with a handful of ETFs I never trade. For the first couple weeks I was inundated by emails and daily phone calls from a salesman wanting to "help" me take advantage of all they had to offer. I eventually managed to get him to stop, but apparently now a new guy has been assigned to my case, and the daily phone calls have started all over again. I was contemplating moving $100K over for my wife for another bonus, but I can't subject her to this.livesoft wrote:They don't make money off of you. They make money off of folks who don't use their features as wisely as you do. Furthermore, they prevent the competition from having your money.
Re: Bank of America/Merrill Edge - Preferred Rewards
Call blocking, Al. Call blocking.Tramper Al wrote:I agree. I've had a $100K Merrill Edge account for a couple of months, filled with a handful of ETFs I never trade. For the first couple weeks I was inundated by emails and daily phone calls from a salesman wanting to "help" me take advantage of all they had to offer. I eventually managed to get him to stop, but apparently now a new guy has been assigned to my case, and the daily phone calls have started all over again. I was contemplating moving $100K over for my wife for another bonus, but I can't subject her to this.livesoft wrote:They don't make money off of you. They make money off of folks who don't use their features as wisely as you do. Furthermore, they prevent the competition from having your money.
Re: Bank of America/Merrill Edge - Preferred Rewards
Are you saying that if you setup automatic investments that waives the normal $20 transaction fee? I thought all Vanguard funds were transaction fee types on Merrill Edge. So then you only get dinged with the fee when you sell then?navyitaly wrote: 3. The only mutual funds I have are Vanguard and I transferred them in, they have 0 12b:1 fees, and they do free automatic/systematic investing so there's no fee there. I have never paid a fee to them on this either. The highest ER on any fund here is VGTSX which is 0.22. I know I can't hold the Admiral shares version of it even though I have way more than is required, but I buy VXUS now for the same ER, but I am losing $30 per year in dividends/returns the way it is (less than my capital gains taxes would be to change it and I am happy with how things are).
Re: Bank of America/Merrill Edge - Preferred Rewards
Unlucky you. I received exactly one welcome call on the voicemail. I didn't call back. That was it. If you don't want emails, click on the unsubscribe link at the end.Tramper Al wrote:For the first couple weeks I was inundated by emails and daily phone calls from a salesman wanting to "help" me take advantage of all they had to offer.
Harry Sit
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Re: Bank of America/Merrill Edge - Preferred Rewards
I too received only one unsolicited welcome call from Merrill Edge and that's it. That welcome call was in fact helpful because the rep helped to expedite the ACH link setup.tfb wrote:Unlucky you. I received exactly one welcome call on the voicemail. I didn't call back. That was it. If you don't want emails, click on the unsubscribe link at the end.Tramper Al wrote:For the first couple weeks I was inundated by emails and daily phone calls from a salesman wanting to "help" me take advantage of all they had to offer.
The only instance I can remember where I received a couple of unsolicited calls associated with a new account opening was with TD Ameritrade a couple of years ago.
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Re: Bank of America/Merrill Edge - Preferred Rewards
For any no load fund, Merrill Edge waives the $19.95 fee per investment if you do an auto investment plan...
It's in the terms and conditions, you must hold for 60 days or they ding you with some sort of fee in addition to any fee the prospectus for the fund may ding you with.
It's in the terms and conditions, you must hold for 60 days or they ding you with some sort of fee in addition to any fee the prospectus for the fund may ding you with.
Re: Bank of America/Merrill Edge - Preferred Rewards
What is the cashback card you get 2.625% on?
Re: Bank of America/Merrill Edge - Preferred Rewards
Thanks - appears to me only redeemable to travel, but still nice. Also how do you get $1000 bonus, I only see $600.
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Re: Bank of America/Merrill Edge - Preferred Rewards
Similar assets for me but they never contacted me for anything unless I asked for something.Tramper Al wrote:I've had a $100K Merrill Edge account for a couple of months, filled with a handful of ETFs I never trade. For the first couple weeks I was inundated by emails and daily phone calls from a salesman wanting to "help" me take advantage of all they had to offer.
Re: Bank of America/Merrill Edge - Preferred Rewards
I never claimed $1000 bonus, but I think at one time they were offering that targeted.
Re: Bank of America/Merrill Edge - Preferred Rewards
Sorry I might have read that on another site or post and thought I read that here. Thanks for this, I think I am going to sign up.navyitaly wrote:I never claimed $1000 bonus, but I think at one time they were offering that targeted.
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Re: Bank of America/Merrill Edge - Preferred Rewards
I moved there because they had a good bonus in that it only took 200k to get $600 and since I was moving a Roth I couldn't get to the 250k most required but I have all ETFs so the free trades are handy so I can buy a few shares with dividends or whatever and not worry about the transaction fee.
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Re: Bank of America/Merrill Edge - Preferred Rewards
Bonuses come and go so there might have been one at the time but $600 was the top when I moved early in the year.dan23 wrote:Thanks - appears to me only redeemable to travel, but still nice. Also how do you get $1000 bonus, I only see $600.
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Re: Bank of America/Merrill Edge - Preferred Rewards
The $1000 was available for a short span in August/September.dan23 wrote:Thanks - appears to me only redeemable to travel, but still nice. Also how do you get $1000 bonus, I only see $600.
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Re: Bank of America/Merrill Edge - Preferred Rewards
Here is the offer, it is still available for a few days:dan23 wrote:... how do you get $1000 bonus, I only see $600.
Merrill offer
Amount and bonus:
20k $100
$50k $250
$100k $500
$200k $1000
"Receive your cash bonus within one week after the 180-day qualifying period."
"Offer valid only for new Merrill Edge self-directed IRA and CMA accounts opened by November 6, 2014"
IIRC "CMA" = cash management account i.e. taxable brokerage account
For more broker transfer bonuses see this Fatwallet thread:
Fatwallet thread
Last edited by dual on Sun Nov 02, 2014 11:59 am, edited 1 time in total.
Re: Bank of America/Merrill Edge - Preferred Rewards
The $1000 offer is still available. It says it expires on nov 6 though it has been extended in the past.
Http://merrilledge.com/1000offer
Http://merrilledge.com/1000offer
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Re: Bank of America/Merrill Edge - Preferred Rewards
And there I thought no real Boglehead would ever sign up with Merrill Edge, what's going on??
Re: Bank of America/Merrill Edge - Preferred Rewards
The fact that if you follow steps above you will come out positive!
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Re: Bank of America/Merrill Edge - Preferred Rewards
Merrill Edge is self-directed (non-advisor) based unlike the regular Merrill Lynch.likegarden wrote:And there I thought no real Boglehead would ever sign up with Merrill Edge, what's going on??
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Re: Bank of America/Merrill Edge - Preferred Rewards
I received a cash bonus and get free equity trades so what's not to like?likegarden wrote:And there I thought no real Boglehead would ever sign up with Merrill Edge, what's going on??
Re: Bank of America/Merrill Edge - Preferred Rewards
This means you need to be there to place the trade. Someone with shares from Vanguard, iShares, SSGA, etc might get dividends many times per year.navyitaly wrote:I take my dividends, and rebuy after they post and buying up to the next whole share
If Vanguard is your broker, this money will automatically sweep into a money market fund with low expense ratio and conservative holdings. Today money market rates are near zero, but if they someday head up, you will likely get a much better rate on cash with Vanguard than at most brokers.
I sometimes ignore my investments for several months at a time. Cash accumulates in my accounts at near 0%, when some banks pay .75% to 1%. I estimate this cost me about $100 over the last 12 months, part of which is a gift to my brokers.
Another way some brokers make money: gather assets then get bought out. Some discount brokers offered great rates and perks, grew fast, then were bought by another broker, often one that charges customers more. Customers from the cheap broker might get to keep their low prices for a while.
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Re: Bank of America/Merrill Edge - Preferred Rewards
Unless something change in the future, this is not an issue with Merrill Edge because you can specify setup the account to have dividends automatically transferred out to a checking or savings account of your choice. In fact, the dividends that Merrill Edge received last Friday are now already sitting in a high yield checking account.lazyday wrote:If Vanguard is your broker, this money will automatically sweep into a money market fund with low expense ratio and conservative holdings. Today money market rates are near zero, but if they someday head up, you will likely get a much better rate on cash with Vanguard than at most brokers.
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Re: Bank of America/Merrill Edge - Preferred Rewards
This brokerage bonus ($1000 for $200,000 cash or securities deposited/transferred to a new account) looks good. I am wondering how this stacks up to other current bonuses? I am going to GOOGLE it, but am wondering if anyone here follows this and how this compares?
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Re: Bank of America/Merrill Edge - Preferred Rewards
It's a great one as it's the same bonus as TDA but requires 50k less and a good resource for comparing bonuses is:Leesbro63 wrote:This brokerage bonus ($1000 for $200,000 cash or securities deposited/transferred to a new account) looks good. I am wondering how this stacks up to other current bonuses? I am going to GOOGLE it, but am wondering if anyone here follows this and how this compares?
http://www.hustlermoneyblog.com/best-brokerage-bonuses/
Although that ME one isn't listed (there's another) but often the brokerages will have multiple programs going simultaneously.
Re: Bank of America/Merrill Edge - Preferred Rewards
I recently took advantage of this promotion and am waiting for the 90 days period to get my $500 bonus for $100k in assets.
I have my investment in iShares S&P 1500 Index Fund for automatic dividend reinvestment but was wondering about the fee you discussed above that I had not initially noticed. Can someone shed light on what this means:
Your stock or ETF commissions sell orders may also be subject to a fractional share liquidation fee of 10% of proceeds
Am i losing 10% of my dividend for having dividend reinvestment turned on? I am used to mutual funds with Vanguard so the ETF arena is new to me.
I have my investment in iShares S&P 1500 Index Fund for automatic dividend reinvestment but was wondering about the fee you discussed above that I had not initially noticed. Can someone shed light on what this means:
Your stock or ETF commissions sell orders may also be subject to a fractional share liquidation fee of 10% of proceeds
Am i losing 10% of my dividend for having dividend reinvestment turned on? I am used to mutual funds with Vanguard so the ETF arena is new to me.
Re: Bank of America/Merrill Edge - Preferred Rewards
Nobody at Merrill Edge can tell me...I don't want to take any chances...or you sell everything minus 1 share + the fractional share...SobeCane wrote:I recently took advantage of this promotion and am waiting for the 90 days period to get my $500 bonus for $100k in assets.
I have my investment in iShares S&P 1500 Index Fund for automatic dividend reinvestment but was wondering about the fee you discussed above that I had not initially noticed. Can someone shed light on what this means:
Your stock or ETF commissions sell orders may also be subject to a fractional share liquidation fee of 10% of proceeds
Am i losing 10% of my dividend for having dividend reinvestment turned on? I am used to mutual funds with Vanguard so the ETF arena is new to me.
Re: Bank of America/Merrill Edge - Preferred Rewards
Wow, that's really nice. Maybe better than Vanguard, which I think is removing this feature with the brokerage account transition.indexfundfan wrote:you can specify setup the account to have dividends automatically transferred out to a checking or savings account of your choice. In fact, the dividends that Merrill Edge received last Friday are now already sitting in a high yield checking account.
Oh, another way these brokers might make money: People in the know and "opinion leaders" come to like companies such as Merrill and Wells Fargo that offer good service for free. They talk positively about the firms, and some highly profitable full service customers are swayed in their choice. I don't mean someone using Merrill Edge and racking up fees with a margin loan. I mean full price wealth management.
Re: Bank of America/Merrill Edge - Preferred Rewards
I believe this only applies to a fractional share. If you have 100.46 shares, they'll keep 10% of the .46 share. Not a deal breakerSobeCane wrote:I recently took advantage of this promotion and am waiting for the 90 days period to get my $500 bonus for $100k in assets.
I have my investment in iShares S&P 1500 Index Fund for automatic dividend reinvestment but was wondering about the fee you discussed above that I had not initially noticed. Can someone shed light on what this means:
Your stock or ETF commissions sell orders may also be subject to a fractional share liquidation fee of 10% of proceeds
Am i losing 10% of my dividend for having dividend reinvestment turned on? I am used to mutual funds with Vanguard so the ETF arena is new to me.
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Re: Bank of America/Merrill Edge - Preferred Rewards
Another thing that I came across on my Merrill Edge (ME) account. If you liquidate a position and you have fractional shares left, ME will only liquidate any fractional shares once a month. Example: you sell a fund that has 10.47 shares, you can only sell 10 shares. Near the end of the month ME sells the fractional shares automatically, you have no control over it. Minor issue.
Re: Bank of America/Merrill Edge - Preferred Rewards
The $1000 offer is available again. This one is good until March 31, but they keep getting renewed.
http://www.merrilledge.com/offers/1000offer
http://www.merrilledge.com/offers/1000offer
Re: Bank of America/Merrill Edge - Preferred Rewards
Does anybody know if Merrill Edge requires you to have a margin account to trade with unsettled funds? (i.e. if I want to sell an ETF and buy another one on the same day)
Re: Bank of America/Merrill Edge - Preferred Rewards
I have a Vanguard Mutual fund account. All dividends go directly to My Alliant Credit Union checking account. Are you saying Vanguard is going to remove this feature? That seems completely lame.lazyday wrote:Wow, that's really nice. Maybe better than Vanguard, which I think is removing this feature with the brokerage account transition.indexfundfan wrote:you can specify setup the account to have dividends automatically transferred out to a checking or savings account of your choice. In fact, the dividends that Merrill Edge received last Friday are now already sitting in a high yield checking account.
Oh, another way these brokers might make money: People in the know and "opinion leaders" come to like companies such as Merrill and Wells Fargo that offer good service for free. They talk positively about the firms, and some highly profitable full service customers are swayed in their choice. I don't mean someone using Merrill Edge and racking up fees with a margin loan. I mean full price wealth management.
Re: Bank of America/Merrill Edge - Preferred Rewards
Unfortunately, yes. That is what is keeping me from "upgrading" my account:tj wrote:I have a Vanguard Mutual fund account. All dividends go directly to My Alliant Credit Union checking account. Are you saying Vanguard is going to remove this feature? That seems completely lame.lazyday wrote:Wow, that's really nice. Maybe better than Vanguard, which I think is removing this feature with the brokerage account transition.indexfundfan wrote:you can specify setup the account to have dividends automatically transferred out to a checking or savings account of your choice. In fact, the dividends that Merrill Edge received last Friday are now already sitting in a high yield checking account.
Oh, another way these brokers might make money: People in the know and "opinion leaders" come to like companies such as Merrill and Wells Fargo that offer good service for free. They talk positively about the firms, and some highly profitable full service customers are swayed in their choice. I don't mean someone using Merrill Edge and racking up fees with a margin loan. I mean full price wealth management.
"You’ll no longer be able to receive Vanguard fund
distributions by check, by automatic transfer to your
bank account, or by automatic reinvestment into
another Vanguard fund. If you currently use these
services, after the upgrade we’ll move the Vanguard
fund distributions to your settlement fund." http://www.bogleheads.org/forum/viewtop ... 0&t=143847
At some point, they're going to force it though apparently.
Re: Bank of America/Merrill Edge - Preferred Rewards
How are these bonuse paid for ira's? Does it go into the ira or a taxable account? If into the ira does it count as contributions for the year deposited?
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Re: Bank of America/Merrill Edge - Preferred Rewards
Bonuses are paid in the account in which you deposited the funds, so in the case above, it goes in IRA. Does not count as contribution. Counts as interest, but inside an IRA, it's not a problem.RabbMD wrote:How are these bonuse paid for ira's? Does it go into the ira or a taxable account? If into the ira does it count as contributions for the year deposited?
Re: Bank of America/Merrill Edge - Preferred Rewards
I don't like this change. I would have to consider moving to another firm. Does WellsTrade still let you buy admiral shares? Does Merrill let you keep your Admiral Shares or does it automatically downgrade?e5116 wrote:Unfortunately, yes. That is what is keeping me from "upgrading" my account:tj wrote:I have a Vanguard Mutual fund account. All dividends go directly to My Alliant Credit Union checking account. Are you saying Vanguard is going to remove this feature? That seems completely lame.lazyday wrote:Wow, that's really nice. Maybe better than Vanguard, which I think is removing this feature with the brokerage account transition.indexfundfan wrote:you can specify setup the account to have dividends automatically transferred out to a checking or savings account of your choice. In fact, the dividends that Merrill Edge received last Friday are now already sitting in a high yield checking account.
Oh, another way these brokers might make money: People in the know and "opinion leaders" come to like companies such as Merrill and Wells Fargo that offer good service for free. They talk positively about the firms, and some highly profitable full service customers are swayed in their choice. I don't mean someone using Merrill Edge and racking up fees with a margin loan. I mean full price wealth management.
"You’ll no longer be able to receive Vanguard fund
distributions by check, by automatic transfer to your
bank account, or by automatic reinvestment into
another Vanguard fund. If you currently use these
services, after the upgrade we’ll move the Vanguard
fund distributions to your settlement fund." http://www.bogleheads.org/forum/viewtop ... 0&t=143847
At some point, they're going to force it though apparently.
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Re: Bank of America/Merrill Edge - Preferred Rewards
From my recent experience, I have been able to sell an ETF and buy another ETF on the same day with unsettled funds in an IRA account. Since IRA's typically don't have margin facility, the answer to your question is, no. ME does not require margin to trade with unsettled funds.stlutz wrote:Does anybody know if Merrill Edge requires you to have a margin account to trade with unsettled funds? (i.e. if I want to sell an ETF and buy another one on the same day)
Re: Bank of America/Merrill Edge - Preferred Rewards
My bonus from last August paid out without hassle. It just showed up.G-Force wrote:The $1000 offer is available again. This one is good until March 31, but they keep getting renewed.
http://www.merrilledge.com/offers/1000offer
Harry Sit
Re: Bank of America/Merrill Edge - Preferred Rewards
Thanks! This is another of those "data points" that are not commonly covered in broker review articles in the media.From my recent experience, I have been able to sell an ETF and buy another ETF on the same day with unsettled funds in an IRA account. Since IRA's typically don't have margin facility, the answer to your question is, no. ME does not require margin to trade with unsettled funds.
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Re: Bank of America/Merrill Edge - Preferred Rewards
That's nice to hear. Looking forward to my bonus next month.tfb wrote:My bonus from last August paid out without hassle. It just showed up.G-Force wrote:The $1000 offer is available again. This one is good until March 31, but they keep getting renewed.
http://www.merrilledge.com/offers/1000offer
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Re: Bank of America/Merrill Edge - Preferred Rewards
Good to hear. Hopefully, mine (from September) will show up next week.tfb wrote:My bonus from last August paid out without hassle. It just showed up.G-Force wrote:The $1000 offer is available again. This one is good until March 31, but they keep getting renewed.
http://www.merrilledge.com/offers/1000offer
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Re: Bank of America/Merrill Edge - Preferred Rewards
Thanks, you just explained my Fidelity Cash Management account.livesoft wrote:They don't make money off of you. They make money off of folks who don't use their features as wisely as you do. Furthermore, they prevent the competition from having your money.
Re: Bank of America/Merrill Edge - Preferred Rewards
dodecahedron wrote:Good to hear. Hopefully, mine (from September) will show up next week.tfb wrote:My bonus from last August paid out without hassle. It just showed up.G-Force wrote:The $1000 offer is available again. This one is good until March 31, but they keep getting renewed.
http://www.merrilledge.com/offers/1000offer
It takes 7 months????
- dodecahedron
- Posts: 6777
- Joined: Tue Nov 12, 2013 11:28 am
Re: Bank of America/Merrill Edge - Preferred Rewards
There is a requirement that the funds stay there for six months in order to qualify for the bonus. So my transfer of funds in happened September 10 and I would expect to see the bonus circa March 10.tj wrote:dodecahedron wrote:Good to hear. Hopefully, mine (from September) will show up next week.tfb wrote:My bonus from last August paid out without hassle. It just showed up.G-Force wrote:The $1000 offer is available again. This one is good until March 31, but they keep getting renewed.
http://www.merrilledge.com/offers/1000offer
It takes 7 months????
- indexfundfan
- Posts: 4061
- Joined: Tue Feb 20, 2007 10:21 am
- Contact:
Re: Bank of America/Merrill Edge - Preferred Rewards
My Merrill Edge bonus showed up earlier this week as well.
I intend to keep these assets (mostly muni CEFs) with Merrill Edge. Once the dividends from the CEFs are credited, they are automatically transferred to my linked 3rd party bank account. Keeping the assets there also helps me qualify for preferred rewards and the associated credit card cash back bonuses.
I intend to keep these assets (mostly muni CEFs) with Merrill Edge. Once the dividends from the CEFs are credited, they are automatically transferred to my linked 3rd party bank account. Keeping the assets there also helps me qualify for preferred rewards and the associated credit card cash back bonuses.
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