The Final, Definitive Thread on Brokerage Transfer Bonuses

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

Post by JustinR » Sun Jul 01, 2018 8:37 pm

https://www.merrilledge.com/cmaoffer

Am I correct that there's no minimum time to keep your funds in the ME account (other than the 90 days to get the bonus)?

So you can tranfer out after you get the bonus with no claw back?

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

Post by drk » Sun Jul 01, 2018 9:47 pm

JustinR wrote:
Sun Jul 01, 2018 8:37 pm
https://www.merrilledge.com/cmaoffer

Am I correct that there's no minimum time to keep your funds in the ME account (other than the 90 days to get the bonus)?

So you can tranfer out after you get the bonus with no claw back?
Correct. You've fully earned the bonus when it's received.

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

Post by JustinR » Sun Jul 01, 2018 11:32 pm

When asking these brokerages if they'll match other institution's bonuses, can I do it over email or chat or is it better to call?

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

Post by michaeljc70 » Mon Jul 02, 2018 10:14 am

JustinR wrote:
Sun Jul 01, 2018 11:32 pm
When asking these brokerages if they'll match other institution's bonuses, can I do it over email or chat or is it better to call?
A call might be better, but it might be tricky to get routed to the right person.

With E-trade they actually contacted me and offered to match (after I put in the transfer paperwork).

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

Post by jeffyscott » Mon Jul 02, 2018 10:45 am

JustinR wrote:
Sun Jul 01, 2018 11:32 pm
When asking these brokerages if they'll match other institution's bonuses, can I do it over email or chat or is it better to call?
I emailed local Schwab branch for an appointment, included a link to the offer I was asking them to match and how much I intended to transfer. I was called back very quickly, like within a couple hours. The rep said he would verify and let me know the next day when I was planning to stop in.
press on, regardless - John C. Bogle

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

Post by whodidntante » Sun Jul 08, 2018 12:21 am

HSBC has a $750 bonus on $100k for 90 days. Investments count even though you know HSBC as a bank. The account requires you to maintain 100k or you are charged a $50/mo fee.

https://www.us.hsbc.com/checking-accoun ... ffer-2018/

Every penny I have is currently earning me a bonus somewhere, so I haven't done this one. Maybe someone here can use it.

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

Post by privatefarmer » Sun Jul 08, 2018 1:26 am

does anyone here hold DFA funds (without an advisor)?? I have some funds that are no longer being managed by an advisor and would love to get a transfer bonus however I cannot find a brokerage that will accept the transfer of DFA funds w/o an advisor attached...

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

Post by michaeljc70 » Sun Jul 08, 2018 9:06 am

whodidntante wrote:
Sun Jul 08, 2018 12:21 am
HSBC has a $750 bonus on $100k for 90 days. Investments count even though you know HSBC as a bank. The account requires you to maintain 100k or you are charged a $50/mo fee.

https://www.us.hsbc.com/checking-accoun ... ffer-2018/

Every penny I have is currently earning me a bonus somewhere, so I haven't done this one. Maybe someone here can use it.
That is a good bonus for $100k. It would require me to open up 2 accounts though (since I don't have $100k cash laying around to put in a checking account).

It does say "Deposit a minimum Qualifying Balance of $100,000 or more in New Money2 in combined checking, savings and/or eligible investment accounts" and then doesn't say what an eligible investment is. I hate when they do that.

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

Post by neilpilot » Tue Jul 10, 2018 2:11 pm

neilpilot wrote:
Wed Jun 06, 2018 7:39 am
gips wrote:
Tue Jun 05, 2018 6:52 pm
we received ME bonus six months to the day.
Good to know. One month from now our 2 accounts should receive the bonus $. A few days later the ME accounts will be transferred back to TDA. We opened the ME accounts on a trial basis, just prior to TDA acquiring Scottrade, in case we disliked TDA. However we have had a terrible customer service experience with ME, while TDA has been totally acceptable.
We did not. Our 2 ME accounts were funded on 1/3/18, and the bonus was supposed to be posted 180 days after funding, or 7/2/18. I sent 2 inquiries to ME via our online account access asking about this on 7/9. Although neither note was answered, a $1k bonus was applied to each account this morning.

SO now I'm planning to move these assets back to existing accounts at TDA, based on poor customer service received at ME even before I had to ask for the bonus. Too bad TDA is not currently offering a bonus for asset transfers into existing accounts.

bondsr4me
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by bondsr4me » Tue Jul 10, 2018 2:21 pm

Schwab gave us a bonus on our joint brokerage account and a bonus on an IRA account.

We had to leave the money at Schwab for 1 year or they would claw back the bonus.

We are allowed to take some money out, but NO transfers out or else the clawback of the bonus.

Our one year expires later this month.

That's when I am moving money out. I may leave a very small residual amount so they don't close the account.

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

Post by jacoavlu » Tue Jul 10, 2018 2:44 pm

bondsr4me wrote:
Tue Jul 10, 2018 2:21 pm
Schwab gave us a bonus on our joint brokerage account and a bonus on an IRA account.
how much bonus?
I already have a joint brokerage there but hold most assets elsewhere.
I might be tempted to move IRAs from Vanguard

bondsr4me
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by bondsr4me » Wed Jul 11, 2018 5:54 am

jacoavlu wrote:
Tue Jul 10, 2018 2:44 pm
bondsr4me wrote:
Tue Jul 10, 2018 2:21 pm
Schwab gave us a bonus on our joint brokerage account and a bonus on an IRA account.
how much bonus?
I already have a joint brokerage there but hold most assets elsewhere.
I might be tempted to move IRAs from Vanguard
Your bonus will depend upon the amount you move to Schwab.
You’ll have to call and talk to a promotions person about this.
They won’t do it thru email or messaging...at least that was my experience.
Keep in mind you will have to keep those assets at Schwab for 1 year or else they will claw back the bonus.

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

Post by jeffyscott » Wed Jul 11, 2018 6:32 am

Posts below are from May, the TDA offer is valid through end of September, IIRC. Schwab matched the TDA offer for me and others.
Earl Lemongrab wrote:
Tue May 01, 2018 7:23 pm
MichDad wrote:
Tue May 01, 2018 5:46 pm
I'm moving just over $100,000 into a new Schwab Roth IRA account. The Schwab representative has told me that they'll match any monetary offer by another firm so long as I can send them a link. I'd greatly appreciate it if fellow Bogleheads can point me to a current cash offer that matches our conditions.
What are you looking for? A good source is:

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

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

https://www.tdameritrade.com/offer/tdba ... index.html
press on, regardless - John C. Bogle

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

Post by SJR » Wed Jul 11, 2018 1:34 pm

I'm looking to sign up for a TD account with a bonus of course and the rep is telling me that they can't receive Admiral Shares. I know I've read to the contrary. Anyone have any idea how I can confirm either way before doing this?

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

Post by jacoavlu » Wed Jul 11, 2018 3:13 pm

no experience with TDA but you could tell them Etrade will accept admiral shares and pay a bonus and if they can't do it you'll take your business there. (I've done this.)

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

Post by Earl Lemongrab » Wed Jul 11, 2018 3:59 pm

I just use ETFs, then I don't have to worry about whether they will transfer. Remember that even if you get a custodian to take your Admiral shares, you won't usually be able to buy any new shares (other than reinvested dividends, probably).
This week's fortune cookie: "Your financial life will be secure and beneficial." So I got that going for me, which is nice.

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

Post by SJR » Wed Jul 11, 2018 4:46 pm

Earl Lemongrab wrote:
Wed Jul 11, 2018 3:59 pm
I just use ETFs, then I don't have to worry about whether they will transfer. Remember that even if you get a custodian to take your Admiral shares, you won't usually be able to buy any new shares (other than reinvested dividends, probably).
I don't care to buy new shares in this case. Also, don't love ETF's as then I need to be busy with limit orders and monitoring them to make sure they go through (I buy after trading hours).

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

Post by SlowMovingInvestor » Wed Jul 11, 2018 5:04 pm

Ally Trading has some decent bonuses (I posted on these a few months back, but they don't seem to have changed)

https://go.ally.com/invest/current-promotion/

$600 for 250K, $1200 for 500K, $2500 for $1M.

I do have money that I can move in 1-2 months. But the site looks pretty threadbare in general. I gather they took over Tradeking. I'm not that much of a trader, but it seems like there are no commission free ETFs or MFs, commissions even for Treasuries and the like. Considering going with adding money to Etrade for now. TDAM has slightly better bonuses at some levels, but I want to xfer out of TDAM.

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

Post by Earl Lemongrab » Wed Jul 11, 2018 5:19 pm

SJR wrote:
Wed Jul 11, 2018 4:46 pm
Earl Lemongrab wrote:
Wed Jul 11, 2018 3:59 pm
I just use ETFs, then I don't have to worry about whether they will transfer. Remember that even if you get a custodian to take your Admiral shares, you won't usually be able to buy any new shares (other than reinvested dividends, probably).
I don't care to buy new shares in this case. Also, don't love ETF's as then I need to be busy with limit orders and monitoring them to make sure they go through (I buy after trading hours).
See Livesoft's posts about buying at the opening cross. But if you don't want ETFs, then that's fine. Just sharing my experience and methods.
This week's fortune cookie: "Your financial life will be secure and beneficial." So I got that going for me, which is nice.

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

Post by Earl Lemongrab » Wed Jul 11, 2018 5:20 pm

SlowMovingInvestor wrote:
Wed Jul 11, 2018 5:04 pm
Ally Trading has some decent bonuses (I posted on these a few months back, but they don't seem to have changed)
Make sure that you're a totally new customer to Ally/Tradeking. Also, last I checked, you needed to make some transactions at about $15 total. You can get the same $200 for 25k transfer elsewhere.
This week's fortune cookie: "Your financial life will be secure and beneficial." So I got that going for me, which is nice.

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

Post by SlowMovingInvestor » Wed Jul 11, 2018 5:56 pm

Earl Lemongrab wrote:
Wed Jul 11, 2018 5:20 pm
SlowMovingInvestor wrote:
Wed Jul 11, 2018 5:04 pm
Ally Trading has some decent bonuses (I posted on these a few months back, but they don't seem to have changed)
Make sure that you're a totally new customer to Ally/Tradeking. Also, last I checked, you needed to make some transactions at about $15 total. You can get the same $200 for 25k transfer elsewhere.
I did have 2 Ally CDs at one point, but I suppose that doesn't count.

I'm going to have around 250-500K in an IRA free. TDAM offers are good for that, but I want to move out of TDAM. So it's Etrade or Ally. My main concern about Ally is their threadbare offerings.

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

Post by JustinR » Wed Jul 11, 2018 6:01 pm

SlowMovingInvestor wrote:
Wed Jul 11, 2018 5:56 pm
Earl Lemongrab wrote:
Wed Jul 11, 2018 5:20 pm
SlowMovingInvestor wrote:
Wed Jul 11, 2018 5:04 pm
Ally Trading has some decent bonuses (I posted on these a few months back, but they don't seem to have changed)
Make sure that you're a totally new customer to Ally/Tradeking. Also, last I checked, you needed to make some transactions at about $15 total. You can get the same $200 for 25k transfer elsewhere.
I did have 2 Ally CDs at one point, but I suppose that doesn't count.

I'm going to have around 250-500K in an IRA free. TDAM offers are good for that, but I want to move out of TDAM. So it's Etrade or Ally. My main concern about Ally is their threadbare offerings.
There's also ME, HSBC, FirstTrade:
https://www.merrilledge.com/cmaoffer
https://www.us.hsbc.com/checking-accoun ... ffer-2018/
https://www.firstrade.com/landing/en-us ... conditions

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

Post by TravelforFun » Wed Jul 11, 2018 6:55 pm

bondsr4me wrote:
Wed Jul 11, 2018 5:54 am
jacoavlu wrote:
Tue Jul 10, 2018 2:44 pm
bondsr4me wrote:
Tue Jul 10, 2018 2:21 pm
Schwab gave us a bonus on our joint brokerage account and a bonus on an IRA account.
how much bonus?
I already have a joint brokerage there but hold most assets elsewhere.
I might be tempted to move IRAs from Vanguard
Your bonus will depend upon the amount you move to Schwab.
You’ll have to call and talk to a promotions person about this.
They won’t do it thru email or messaging...at least that was my experience.
Keep in mind you will have to keep those assets at Schwab for 1 year or else they will claw back the bonus.
I just got $2,500 for transferring one account at TD Ameritrade to Schwab. To get the $2,500, one to has transfer at least $1 million but I transferred the entire account which is more than that. It took less than 10 minutes worth of key strokes and nothing to sign and mail.

TravelforFun

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

Post by michaeljc70 » Wed Jul 11, 2018 7:02 pm

TravelforFun wrote:
Wed Jul 11, 2018 6:55 pm
bondsr4me wrote:
Wed Jul 11, 2018 5:54 am
jacoavlu wrote:
Tue Jul 10, 2018 2:44 pm
bondsr4me wrote:
Tue Jul 10, 2018 2:21 pm
Schwab gave us a bonus on our joint brokerage account and a bonus on an IRA account.
how much bonus?
I already have a joint brokerage there but hold most assets elsewhere.
I might be tempted to move IRAs from Vanguard
Your bonus will depend upon the amount you move to Schwab.
You’ll have to call and talk to a promotions person about this.
They won’t do it thru email or messaging...at least that was my experience.
Keep in mind you will have to keep those assets at Schwab for 1 year or else they will claw back the bonus.
I just got $2,500 for transferring one account at TD Ameritrade to Schwab. To get the $2,500, one to has transfer at least $1 million but I transferred the entire account which is more than that. It took less than 10 minutes worth of key strokes and nothing to sign and mail.

TravelforFun
I agree that it is generally pretty easy money. I use Quicken so I need to set that all up. Even if you don't, I assume most people use online services and need to set all that up. The bonus is still a pretty quick buck though.

The one glitch I've seen is if you continue to invest, the free mutual funds/ETFs vary by brokerage. You can either switch to a free one if you have no capital gains, or pay the fees which these days are pretty low ($5 a trade or whatever). Many transfer bonuses give you free trades for X days too.

My guess is, like credit card rewards, they will clamp down on this eventually. I mean, to pay out 4 figures and me never make a trade cannot pay off for them. I don't even think with what I own they can lend them out for shorts.

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

Post by jeffyscott » Wed Jul 11, 2018 7:35 pm

michaeljc70 wrote:
Wed Jul 11, 2018 7:02 pm
My guess is, like credit card rewards, they will clamp down on this eventually. I mean, to pay out 4 figures and me never make a trade cannot pay off for them.
I guess it depends on what the ratio of churners to new customers is. I don't understand why most credit card companies have not gone the AmEx route. Some of others have added some restrictions but they still allow bonuses again and again for the same card.

I don't plan to churn brokerages, but I will continue to do it with credit cards. Just as with credit cards, I am surprised that brokerages allow one to repeatedly collect bonuses.

I did do the recent Fido one as it required such a small amount, but I don't see myself transferring entire account(s) around.
press on, regardless - John C. Bogle

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

Post by Earl Lemongrab » Wed Jul 11, 2018 8:32 pm

Considering how many are offering free trades and/or commission-free ETFs, not making trades isn't likely to be a problem. They want assets under management.
This week's fortune cookie: "Your financial life will be secure and beneficial." So I got that going for me, which is nice.

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

Post by TravelforFun » Wed Jul 11, 2018 11:16 pm

jeffyscott wrote:
Wed Jul 11, 2018 7:35 pm
michaeljc70 wrote:
Wed Jul 11, 2018 7:02 pm
My guess is, like credit card rewards, they will clamp down on this eventually. I mean, to pay out 4 figures and me never make a trade cannot pay off for them.
I guess it depends on what the ratio of churners to new customers is. I don't understand why most credit card companies have not gone the AmEx route. Some of others have added some restrictions but they still allow bonuses again and again for the same card.

I don't plan to churn brokerages, but I will continue to do it with credit cards. Just as with credit cards, I am surprised that brokerages allow one to repeatedly collect bonuses.

I did do the recent Fido one as it required such a small amount, but I don't see myself transferring entire account(s) around.
I churn both credit cards and brokerage houses. May be I should change my handle to 'Extreme Churner'

TravelforFun

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

Post by boglemoe » Fri Jul 13, 2018 11:00 pm

privatefarmer wrote:
Sun Jul 08, 2018 1:26 am
does anyone here hold DFA funds (without an advisor)?? I have some funds that are no longer being managed by an advisor and would love to get a transfer bonus however I cannot find a brokerage that will accept the transfer of DFA funds w/o an advisor attached...
yes and yes.

when checking around on the transfer issue (last year) FIDO said no, ME said no, schwab said yes. TDA said yes moving from institutional to retail accounts but not from outside. with schwab, to be sure I had the serior guy in the local office run every holding through their filter while i looked at his screen and the DFA funds would transfer with 'auto reinvest' only.

ymmv

'moe

boglemoe
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This thread rewarded me $2K!

Post by boglemoe » Fri Jul 13, 2018 11:27 pm

Earl Lemongrab wrote:
Wed Jul 11, 2018 5:19 pm
Just sharing my experience and methods.
And a BIG thank you earl, and all who have posted...here's my short story this week.

Recently we moved some cash to Schwab. The senior guy at the local office assured me there was no bonus available.

When i dropped off the cashiers check the junior guy tracked me down leaving to say without prompting "thank you and i can offer you 300$ bonus for this deposit, to which i said "OK sure" ...money posted 2 days later, no strings attached. I was planning to make the deposit anyway but the 300$ whetted my appetite for more.

Next day by email, I asked the senior guy at the Schwab branch about moving 4 tax deferred accounts from TDA to Schwab, again he said "we're not doing transfer bonuses but i can put some free trades on the account". While i like free trades...READING THIS THREAD prompted me to keep looking.

So the next day the Schwab 'regional trade specialist' emailed me to offer 600$ for the transfers...to which i replied "we will think about it" This was another Schwab guy and the contact was unsolicited.

I then emailed the local TDA office to describe the Schwab offer. Promptly the senior guy at the TDA office sent me a note "we can do better than that offer"

Yesterday the TDA guys offered 2000$ plus 2 years of free trades, to NOT MOVE the accounts for 1 year. I accepted and the bonus/rebate funds posted within 1 hour of our email exchange.

All of that without moving any accounts, completing forms or checking for transfer errors...sweet!
___________

So anyway, thanks for all of those who post about the offers here...and don't assume the senior guy is the only point of negotiation.

'moe
Last edited by boglemoe on Sun Jul 15, 2018 1:20 pm, edited 1 time in total.

student
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Re: This thread rewarded me $2K!

Post by student » Sat Jul 14, 2018 4:51 am

boglemoe wrote:
Fri Jul 13, 2018 11:27 pm
Earl Lemongrab wrote:
Wed Jul 11, 2018 5:19 pm
Just sharing my experience and methods.
And a BIG thank you earl, and all who have posted...here's my short story this week.

Recently we moved some cash to Schwab. The senior guy at the local office assured me there was no bonus available.

When i dropped off the cashiers check the junior guy tracked me down leaving to say without prompting "thank you and i can offer you 300$ bonus for this deposit, to which i said "OK sure" ...money posted 2 days later, no strings attached. I was planning to make the deposit anyway but the 300$ whetted my appetite for more.

Next day by email, I asked the senior guy at the Schwab branch about moving 4 tax deferred accounts (mid 6 figures total) from TDA to Schwab, again he said "we're not doing transfer bonuses but i can put some free trades on the account". While i like free trades...READING THIS THREAD prompted me to keep looking.

So the next day the Schwab 'regional trade specialist' emailed me to offer 600$ for the transfers...to which i replied "we will think about it" This was another Schwab guy and the contact was unsolicited.

I then emailed the local TDA office to describe the Schwab offer. Promptly the senior guy at the TDA office sent me a note "we can do better than that offer"

Yesterday the TDA guys offered 2000$ plus 2 years of free trades, to NOT MOVE the accounts for 1 year. I accepted and the bonus/rebate funds posted within 1 hour of our email exchange.

All of that without moving any accounts, completing forms or checking for transfer errors...sweet!
___________

So anyway, thanks for all of those who post about the offers here...and don't assume the senior guy is the only point of negotiation.

'moe
Thanks for the story.

SlowMovingInvestor
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Re: This thread rewarded me $2K!

Post by SlowMovingInvestor » Sat Jul 14, 2018 8:21 am

boglemoe wrote:
Fri Jul 13, 2018 11:27 pm

Next day by email, I asked the senior guy at the Schwab branch about moving 4 tax deferred accounts (mid 6 figures total) from TDA to Schwab, again he said "we're not doing transfer bonuses but i can put some free trades on the account". While i like free trades...READING THIS THREAD prompted me to keep looking.

So the next day the Schwab 'regional trade specialist' emailed me to offer 600$ for the transfers...to which i replied "we will think about it" This was another Schwab guy and the contact was unsolicited.

I then emailed the local TDA office to describe the Schwab offer. Promptly the senior guy at the TDA office sent me a note "we can do better than that offer"

Yesterday the TDA guys offered 2000$ plus 2 years of free trades, to NOT MOVE the accounts for 1 year. I accepted and the bonus/rebate funds posted within 1 hour of our email exchange.

All of that without moving any accounts, completing forms or checking for transfer errors...sweet!
$2000 + 2 years free trades for 500K-1M is pretty good. Standard for 500K-1M is $1200, $1500 is highest I've seen, and normally only 90 day free trade.

Had you been with TDAM long ?

I'm thinking of moving some stuff out of TDAM, because frankly I'm a little annoyed with their dropping Vanguard and most Eshares ETFs, their transaction fees for bonds etc etc.

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

Post by drk » Sat Jul 14, 2018 11:13 am

pre wrote:
Tue Jan 23, 2018 10:35 pm
Just to follow-up, after the transfer completed, I gave Etrade a call. Fortuitously encountered a very helpful rep who credited my account with the transfer out fee immediately, without even requesting the Schwab statement documenting it.
I'll have to give them a call. I tried via live chat while my transfer was in-progress, and they said that the bonus was intended to cover any transfer fees.

boglemoe
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Re: This thread rewarded me $2K!

Post by boglemoe » Sat Jul 14, 2018 11:14 am

SlowMovingInvestor wrote:
Sat Jul 14, 2018 8:21 am

$2000 + 2 years free trades for 500K-1M is pretty good. Standard for 500K-1M is $1200, $1500 is highest I've seen, and normally only 90 day free trade.

Had you been with TDAM long ?

I'm thinking of moving some stuff out of TDAM, because frankly I'm a little annoyed with their dropping Vanguard and most Eshares ETFs, their transaction fees for bonds etc etc.
Yes it is good.

moe
Last edited by boglemoe on Sun Jul 15, 2018 1:18 pm, edited 3 times in total.

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

Post by SlowMovingInvestor » Sat Jul 14, 2018 11:42 am

I opened an account with ME for one of their $1000 for 200K bonuses in Jan 2018. I thought the bonus would pay out at the end of 180 days, but actually the terms indicate 2 weeks after funding (180 days is just the period you have to retain the bonuses). I have a vague memory that the last time I got an ME bonus, they actually paid out at the end of the funding period, so I didn't look for the bonus till now. And of course, none was paid out.

Not sure if this is a glitch in their offer terms/systems, but I pinged them, so let's see what they do. I did have a bonus pending in another account in Feb (which was paid), so maybe they don't allow multiple overlapping bonuses (but that was another account type, IRA vs. regular).


ADDED: I went and checked an old ME bonus, and that had the same '2 weeks after qualification criteria' statement, but I think that means 2 weeks after the 180 day period, not 2 weeks after funding. That paid out after 180 days. So I still have to wait for this bonus. The language is a little confusing, it seems.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by neilpilot » Sat Jul 14, 2018 2:34 pm

SlowMovingInvestor wrote:
Sat Jul 14, 2018 11:42 am
I opened an account with ME for one of their $1000 for 200K bonuses in Jan 2018. I thought the bonus would pay out at the end of 180 days, but actually the terms indicate 2 weeks after funding (180 days is just the period you have to retain the bonuses). I have a vague memory that the last time I got an ME bonus, they actually paid out at the end of the funding period, so I didn't look for the bonus till now. And of course, none was paid out.

Not sure if this is a glitch in their offer terms/systems, but I pinged them, so let's see what they do. I did have a bonus pending in another account in Feb (which was paid), so maybe they don't allow multiple overlapping bonuses (but that was another account type, IRA vs. regular).


ADDED: I went and checked an old ME bonus, and that had the same '2 weeks after qualification criteria' statement, but I think that means 2 weeks after the 180 day period, not 2 weeks after funding. That paid out after 180 days. So I still have to wait for this bonus. The language is a little confusing, it seems.
I funded a new ME account 1/3/18 and expected a bonus 180 days after funding, or 7/2/18. I asked them about the bonus on 7/9/18, they replied that it was actually due on 7/8/18 and it appeared in my account on 7/10/18.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by SJR » Sun Jul 15, 2018 8:38 am

Earl Lemongrab wrote:
Wed Jul 11, 2018 5:19 pm
SJR wrote:
Wed Jul 11, 2018 4:46 pm
Earl Lemongrab wrote:
Wed Jul 11, 2018 3:59 pm
I just use ETFs, then I don't have to worry about whether they will transfer. Remember that even if you get a custodian to take your Admiral shares, you won't usually be able to buy any new shares (other than reinvested dividends, probably).
I don't care to buy new shares in this case. Also, don't love ETF's as then I need to be busy with limit orders and monitoring them to make sure they go through (I buy after trading hours).
See Livesoft's posts about buying at the opening cross. But if you don't want ETFs, then that's fine. Just sharing my experience and methods.
Would you be able to provide a link to that post ?

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by LadyGeek » Sun Jul 15, 2018 9:05 am

Wiki To some, the glass is half full. To others, the glass is half empty. To an engineer, it's twice the size it needs to be.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by SJR » Mon Jul 16, 2018 4:02 pm

LadyGeek wrote:
Sun Jul 15, 2018 9:05 am
Is this it? Case study Broker trade executions
Thank you but I don't see any reference to simplifying the purchase and sale of ETFs in this thread. This thread seems to be about testing and maximizing the purchase and sale of ETFs.

Side note: I spoke with E-trade today and financial consultant in a local branch sent me some offers which are really compelling.

1. Cash credits for eligible deposits or transfers of new funds or securities from accounts outside of E*TRADE will be made as follows: $4,000,000 or more will receive $10,000; $3,000,000-$3,999,999 will receive $8,000; $2,000,000-$2,999,999 will receive $6,000; $1,000,000-$1,999,999 will receive $4,000; $500,000-$999,999 will receive $2,000.

2. Cash credits for eligible deposits or transfers of new funds or securities from accounts outside of E*TRADE will be made as follows: $1,000,000 or more will receive $2,500; $500,000–$999,999 will receive $1,500; $250,000–$499,999 will receive $1,000; $100,000–$249,999 will receive $500; $25,000–$99,999 will receive $200.

The only noticeable difference is the hold period. 12 months and 6 months respectively.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by michaeljc70 » Mon Jul 16, 2018 4:14 pm

SJR wrote:
Mon Jul 16, 2018 4:02 pm
LadyGeek wrote:
Sun Jul 15, 2018 9:05 am
Is this it? Case study Broker trade executions
Thank you but I don't see any reference to simplifying the purchase and sale of ETFs in this thread. This thread seems to be about testing and maximizing the purchase and sale of ETFs.

Side note: I spoke with E-trade today and financial consultant in a local branch sent me some offers which are really compelling.

1. Cash credits for eligible deposits or transfers of new funds or securities from accounts outside of E*TRADE will be made as follows: $4,000,000 or more will receive $10,000; $3,000,000-$3,999,999 will receive $8,000; $2,000,000-$2,999,999 will receive $6,000; $1,000,000-$1,999,999 will receive $4,000; $500,000-$999,999 will receive $2,000.

2. Cash credits for eligible deposits or transfers of new funds or securities from accounts outside of E*TRADE will be made as follows: $1,000,000 or more will receive $2,500; $500,000–$999,999 will receive $1,500; $250,000–$499,999 will receive $1,000; $100,000–$249,999 will receive $500; $25,000–$99,999 will receive $200.

The only noticeable difference is the hold period. 12 months and 6 months respectively.
Those are both higher than what they offer on their website. I wonder if calling pays as I am going to transfer funds to eTrade (for the sole purpose of a bonus). Did they say if that was applicable to all account types (IRA)? I've noticed some of the best offers out there exclude IRAs.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by neilpilot » Mon Jul 16, 2018 4:27 pm

michaeljc70 wrote:
Mon Jul 16, 2018 4:14 pm

Those are both higher than what they offer on their website. I wonder if calling pays as I am going to transfer funds to eTrade (for the sole purpose of a bonus). Did they say if that was applicable to all account types (IRA)? I've noticed some of the best offers out there exclude IRAs.
I have one data point that you might find interesting. I have 2 IRAs, with I a firm I dislike that has just passed the bonus hold period. The other is with TDA, and as a former Scottrade account I'm happy to stay with TDA post-merger.

Here's my point....the current published offers for TDA are good, but they state that they are for new accounts only. I told the local office that I planned to transfer IRA funds into my existing TDA account and was told that I qualified for a bonus offer. In the meantime, my DW has taxable funds with the same out-of-favor firm, and the TDA rep said that she was not able to qualify for a transfer bonus into her existing TDA account since it WAS NOT an IRA.

So in this case, the best offer excluded non-IRA transfers.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by jminv » Mon Jul 16, 2018 7:32 pm

I thought I'd give an update on Fidelity since the decent promos they have are unlisted and require calling them. I started with 'Etrade is offering $2500 for 1mil+ plus 500 trades for 60 days, can you match and what are your bonuses at other levels in case I decide to transfer in more?'.

$1mil-$2.5mil - $2500
$2.5mil-$5mil - $3500
$5mil+ - $5000

They will give you free trades valid for more than 1 year but this is based on your trading volume in a month so have a number in mind when calling. The bonus is paid in after 60 days if the account is funded.

I have a core Schwab account but move a $1+mil account around to net the bonuses since they are non-trivial sums. $2500 in bonuses each year compounded at 6% for 20 years will give you $100k. Over 30 years it would be an $212k. Just something to think about for people reading this who might not be as interested in doing a transfer.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Earl Lemongrab » Mon Jul 16, 2018 11:36 pm

I usually just open a new account because it's easier than having to call or use the secure message system. When you open an account you can use the offer code directly. But I'm normally looking to move them out again later, of course.
This week's fortune cookie: "Your financial life will be secure and beneficial." So I got that going for me, which is nice.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by pre » Tue Jul 17, 2018 12:12 am

michaeljc70 wrote:
Mon Jul 16, 2018 4:14 pm
SJR wrote:
Mon Jul 16, 2018 4:02 pm
LadyGeek wrote:
Sun Jul 15, 2018 9:05 am
Is this it? Case study Broker trade executions
Thank you but I don't see any reference to simplifying the purchase and sale of ETFs in this thread. This thread seems to be about testing and maximizing the purchase and sale of ETFs.

Side note: I spoke with E-trade today and financial consultant in a local branch sent me some offers which are really compelling.

1. Cash credits for eligible deposits or transfers of new funds or securities from accounts outside of E*TRADE will be made as follows: $4,000,000 or more will receive $10,000; $3,000,000-$3,999,999 will receive $8,000; $2,000,000-$2,999,999 will receive $6,000; $1,000,000-$1,999,999 will receive $4,000; $500,000-$999,999 will receive $2,000.

2. Cash credits for eligible deposits or transfers of new funds or securities from accounts outside of E*TRADE will be made as follows: $1,000,000 or more will receive $2,500; $500,000–$999,999 will receive $1,500; $250,000–$499,999 will receive $1,000; $100,000–$249,999 will receive $500; $25,000–$99,999 will receive $200.

The only noticeable difference is the hold period. 12 months and 6 months respectively.
Those are both higher than what they offer on their website. I wonder if calling pays as I am going to transfer funds to eTrade (for the sole purpose of a bonus). Did they say if that was applicable to all account types (IRA)? I've noticed some of the best offers out there exclude IRAs.
Yep, ETrade's offer #2 is definitely available to both cash and retirement accounts. Incidentally, I had contacted and was presented with these terms for my IRA a week ago. They're for both existing and new account holders.

My local rep had to code/enroll the offer on to my account, after which I initiated the transfer.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Mike14 » Tue Jul 17, 2018 2:14 am

wooster wrote:
Wed Jan 10, 2018 9:23 pm
I transferred some VTIAX & VTSAX (both Admiral funds) from Vanguard to Merrill Edge in January 2017 with no problems, and am still holding them at ME.
Did they transfer fractional shares? Will they let you buy more? Are dividends re-invested in the same Vanguard fund?

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by SJR » Tue Jul 17, 2018 10:14 pm

michaeljc70 wrote:
Mon Jul 16, 2018 4:14 pm
SJR wrote:
Mon Jul 16, 2018 4:02 pm
LadyGeek wrote:
Sun Jul 15, 2018 9:05 am
Is this it? Case study Broker trade executions
Thank you but I don't see any reference to simplifying the purchase and sale of ETFs in this thread. This thread seems to be about testing and maximizing the purchase and sale of ETFs.

Side note: I spoke with E-trade today and financial consultant in a local branch sent me some offers which are really compelling.

1. Cash credits for eligible deposits or transfers of new funds or securities from accounts outside of E*TRADE will be made as follows: $4,000,000 or more will receive $10,000; $3,000,000-$3,999,999 will receive $8,000; $2,000,000-$2,999,999 will receive $6,000; $1,000,000-$1,999,999 will receive $4,000; $500,000-$999,999 will receive $2,000.

2. Cash credits for eligible deposits or transfers of new funds or securities from accounts outside of E*TRADE will be made as follows: $1,000,000 or more will receive $2,500; $500,000–$999,999 will receive $1,500; $250,000–$499,999 will receive $1,000; $100,000–$249,999 will receive $500; $25,000–$99,999 will receive $200.

The only noticeable difference is the hold period. 12 months and 6 months respectively.
Those are both higher than what they offer on their website. I wonder if calling pays as I am going to transfer funds to eTrade (for the sole purpose of a bonus). Did they say if that was applicable to all account types (IRA)? I've noticed some of the best offers out there exclude IRAs.
I have some IRA's I wanted to move and mentioned those to the rep. Seems like IRAs are included as he didn't tell me otherwise.

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