The Final, Definitive Thread on Brokerage Transfer Bonuses

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EnjoyIt
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Re: Transfer bonus

Post by EnjoyIt »

UncleLeo wrote: Fri Aug 05, 2022 3:23 am
whodidntante wrote: Thu Aug 04, 2022 11:23 pm
UncleLeo wrote: Tue Aug 02, 2022 6:50 pm
tj wrote: Mon Aug 01, 2022 10:05 am
02nz wrote: Sat Jul 30, 2022 4:39 pm

Call E*Trade, by phone you can typically get a better offer than the one on the website.

Agree re: converting to ETF first.
No need to call, just click the better link:

https://us.etrade.com/what-we-offer/how ... ra-cfc3500
Can the $1 mm threshold include Roth IRA accounts? For example, if I have a brokerage account and 2 roth IRA accounts with Vanguard that in total exceed $1 mm, but each is lower than that threshold would I be able to get the bonus if I transfer all accounts to the broker offering the bonus?
I conducted a highly similar experiment in the name of science and posted the results to this very thread. Since no Turing-test-passing intelligence should be subjected to trying to locate things using the terrible forum software here, I'll reach back into my mental search index and save you some effort. The answer is yes, or at least, it was yes for me. Good luck.
Thanks. Now I wonder if the transfer even has to be from the same brokerage. In other words, if I move 500k from Vanguard and another 500k from Fidelity to Etrade/Schwab within a certain time frame, would that count?
I have done that
A time to EVALUATE your jitters: | viewtopic.php?p=1139732#p1139732
Luckywon
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Re: Transfer bonus

Post by Luckywon »

UncleLeo wrote: Fri Aug 05, 2022 3:23 am Thanks. Now I wonder if the transfer even has to be from the same brokerage. In other words, if I move 500k from Vanguard and another 500k from Fidelity to Etrade/Schwab within a certain time frame, would that count?
In my experience including at E-Trade and Schwab, the source(s) of the money did not matter, just the net amount of funds incoming within the time frame.
placeholder
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by placeholder »

Right they give you a funding window and you can move from multiple brokerages or bank accounts so it's the total at the close of that window.
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TomatoTomahto
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by TomatoTomahto »

I am going to move from Vanguard to Schwab, Merrill, or Wells. We already have accounts at Fidelity and I don't want to have a single point of failure. The accounts are fbo 3 different people (mostly 2) and are a combination of taxable (trust) and tax deferred.

Round numbers, total is mid 7 digit.

Any recommendations? TIA.
I get the FI part but not the RE part of FIRE.
tj
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by tj »

TomatoTomahto wrote: Sat Aug 06, 2022 11:00 am I am going to move from Vanguard to Schwab, Merrill, or Wells. We already have accounts at Fidelity and I don't want to have a single point of failure. The accounts are fbo 3 different people (mostly 2) and are a combination of taxable (trust) and tax deferred.

Round numbers, total is mid 7 digit.

Any recommendations? TIA.
Whoever will match the best offer you can find, or give you an even better one.
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Leif
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Leif »

TomatoTomahto wrote: Sat Aug 06, 2022 11:00 am We already have accounts at Fidelity and I don't want to have a single point of failure.
I use to have the same thinking (Fidelity & Vanguard). But having had it with Vanguard I did move to Fidelity. I didn't realize, until after the move, how nice it is to have my accounts under one roof. I have a few bucks at a bank, along with some paper bonds, to carry me if some short term disruption happened at Fidelity.
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TomatoTomahto
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by TomatoTomahto »

Leif wrote: Sat Aug 06, 2022 11:10 am
TomatoTomahto wrote: Sat Aug 06, 2022 11:00 am We already have accounts at Fidelity and I don't want to have a single point of failure.
I use to have the same thinking (Fidelity & Vanguard). But having had it with Vanguard I did move to Fidelity. I didn't realize, until after the move, how nice it is to have my accounts under one roof. I have a few bucks at a bank to carry me if some short term disruption happened at Fidelity.
In my experience, Fidelity moves slowly to make funds available. They're fine for scheduled transactions (eg, 401k) but they have been responsible for my one bounced payment in the past 50 years, literally. Their CMA is, imo, crap.

The benefit of being under one roof is a factor, but in the 21st century, not decisive. Just my 2 cents, there's obviously room to disagree.
I get the FI part but not the RE part of FIRE.
bbrock
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by bbrock »

TomatoTomahto wrote: Sat Aug 06, 2022 11:18 am
Leif wrote: Sat Aug 06, 2022 11:10 am
TomatoTomahto wrote: Sat Aug 06, 2022 11:00 am We already have accounts at Fidelity and I don't want to have a single point of failure.
I use to have the same thinking (Fidelity & Vanguard). But having had it with Vanguard I did move to Fidelity. I didn't realize, until after the move, how nice it is to have my accounts under one roof. I have a few bucks at a bank to carry me if some short term disruption happened at Fidelity.
In my experience, Fidelity moves slowly to make funds available. They're fine for scheduled transactions (eg, 401k) but they have been responsible for my one bounced payment in the past 50 years, literally. Their CMA is, imo, crap.

The benefit of being under one roof is a factor, but in the 21st century, not decisive. Just my 2 cents, there's obviously room to disagree.
I’m exclusively with Vanguard about to move at least the taxable brokerage to E-Trade, but Idk if Vanguard is any quicker to make funds available. I think it’s just a waiting game for funds to clear, regardless of institution.
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anon_investor
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by anon_investor »

TomatoTomahto wrote: Sat Aug 06, 2022 11:18 am
Leif wrote: Sat Aug 06, 2022 11:10 am
TomatoTomahto wrote: Sat Aug 06, 2022 11:00 am We already have accounts at Fidelity and I don't want to have a single point of failure.
I use to have the same thinking (Fidelity & Vanguard). But having had it with Vanguard I did move to Fidelity. I didn't realize, until after the move, how nice it is to have my accounts under one roof. I have a few bucks at a bank to carry me if some short term disruption happened at Fidelity.
In my experience, Fidelity moves slowly to make funds available. They're fine for scheduled transactions (eg, 401k) but they have been responsible for my one bounced payment in the past 50 years, literally. Their CMA is, imo, crap.

The benefit of being under one roof is a factor, but in the 21st century, not decisive. Just my 2 cents, there's obviously room to disagree.
I have been tempted to use Fidelity's CMA in lieu of a checking account, especially since MMF rates are now over 2%. Paying bills out of my Ally savings account has worked flawlessly for years now, and 1.6% is nothing to sneeze about. So Fidelity takes a long time to make deposits available for withdrawal?
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TomatoTomahto
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by TomatoTomahto »

anon_investor wrote: Sat Aug 06, 2022 11:47 am So Fidelity takes a long time to make deposits available for withdrawal?
The time I got "caught" is when I expected a deposit (ACH from BoA) to be available in 2, at most 3, business days. I had significant assets at Fidelity at the time, but what I didn't realize is that it didn't matter, what mattered was the policies at UMB (which Fidelity uses for their CMA). So, my "personal rep" at Fidelity couldn't do a thing for me.
I get the FI part but not the RE part of FIRE.
sycamore
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by sycamore »

tj wrote: Sat Aug 06, 2022 11:03 am
TomatoTomahto wrote: Sat Aug 06, 2022 11:00 am I am going to move from Vanguard to Schwab, Merrill, or Wells. We already have accounts at Fidelity and I don't want to have a single point of failure. The accounts are fbo 3 different people (mostly 2) and are a combination of taxable (trust) and tax deferred.

Round numbers, total is mid 7 digit.

Any recommendations? TIA.
Whoever will match the best offer you can find, or give you an even better one.
+1

Of the ones you list, I'd go with Schwab. I have an account with them; got them to match a bonus offer from E*Trade.

No experience with Wells. Only reason I have Merrill Edge is to get better cash back rewards with a Bank of America's credit card.
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indexfundfan
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by indexfundfan »

TomatoTomahto wrote: Sat Aug 06, 2022 12:04 pm
anon_investor wrote: Sat Aug 06, 2022 11:47 am So Fidelity takes a long time to make deposits available for withdrawal?
The time I got "caught" is when I expected a deposit (ACH from BoA) to be available in 2, at most 3, business days. I had significant assets at Fidelity at the time, but what I didn't realize is that it didn't matter, what mattered was the policies at UMB (which Fidelity uses for their CMA). So, my "personal rep" at Fidelity couldn't do a thing for me.
It does take a long time (5 days for me) for the money to be available. But if you have a separate margin account for your investments, you can pull the money into the investment account, then do an internal transfer to your spending account. That way, the money is available immediately in the spending account.
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bbrock
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by bbrock »

I am awaiting Schwab to match the offer I got from the personal rep. at E*Trade ($4k on $1 m. - $1.999 m.). I assume they will. If they did match, I would go with Schwab, wait the 12 mo., then go to E*Trade at whatever offer they advertise or the rep. could offer.

However, I realize their offers are for new account holders. I made the mistake that once I got the E*Trade rep's offer, I opened (have not funded) an account via my computer. So, if Schwab does end up matching, and I go with Schwab, and then plan to transfer to E*Trade 12 mo. later, I would not be considered a new account holder. Thus, I'd probably have to go with E*Trade, and play off of Schwab in a year to see what they will offer (I have not opened anything at Schwab; only have spoken to a rep. at the 800# and provided him my contact info.).
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by BuddyJet »

TomatoTomahto wrote: Sat Aug 06, 2022 11:00 am I am going to move from Vanguard to Schwab, Merrill, or Wells. We already have accounts at Fidelity and I don't want to have a single point of failure. The accounts are fbo 3 different people (mostly 2) and are a combination of taxable (trust) and tax deferred.

Round numbers, total is mid 7 digit.

Any recommendations? TIA.
+1 on Schwab from the three listed. My rep matched offers. Interface takes some getting used to though.

Btw, I use my Fidelity brokerage account for checking rather than their CMA. With spaxx currently yielding 1.6% as my core position and a small margin eligible position, I use them as my main checking.

You didn’t mention E*Trade but they are my second choice after Fidelity.
People say nothing is impossible. I do nothing all day.
Kookaburra
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Re: Transfer bonus

Post by Kookaburra »

UncleLeo wrote: Fri Aug 05, 2022 3:23 am
whodidntante wrote: Thu Aug 04, 2022 11:23 pm
UncleLeo wrote: Tue Aug 02, 2022 6:50 pm
tj wrote: Mon Aug 01, 2022 10:05 am
02nz wrote: Sat Jul 30, 2022 4:39 pm

Call E*Trade, by phone you can typically get a better offer than the one on the website.

Agree re: converting to ETF first.
No need to call, just click the better link:

https://us.etrade.com/what-we-offer/how ... ra-cfc3500
Can the $1 mm threshold include Roth IRA accounts? For example, if I have a brokerage account and 2 roth IRA accounts with Vanguard that in total exceed $1 mm, but each is lower than that threshold would I be able to get the bonus if I transfer all accounts to the broker offering the bonus?
I conducted a highly similar experiment in the name of science and posted the results to this very thread. Since no Turing-test-passing intelligence should be subjected to trying to locate things using the terrible forum software here, I'll reach back into my mental search index and save you some effort. The answer is yes, or at least, it was yes for me. Good luck.
Thanks. Now I wonder if the transfer even has to be from the same brokerage. In other words, if I move 500k from Vanguard and another 500k from Fidelity to Etrade/Schwab within a certain time frame, would that count?
Typically, the receiving entity only looks at “net deposits” over an xx-day period, without regard for source of funds.
calwatch
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by calwatch »

calwatch wrote: Mon Jul 25, 2022 2:49 pm
calwatch wrote: Tue Jul 12, 2022 7:44 pm Anyone having issues ACATing from Stockpile out? I am having trouble with SoFi taking my transfer. I think they are confused that Apex Clearing is the holder of record. Would communicating via online chat or phone be better? Any other brokers where Stockpile transfers might be good? I am thinking eTrade but their non-retirement bonus is not that great and has been higher in the past. The other option might be to ACAT over to Fidelity or Ameritrade as a stop gap, but I wonder if they reimburse ACAT fees even when you aren't taking advantage of a bonus.
To update I opened up a support ticket and they asked for a brokerage statement. The transfer took about a week after the paperwork was submitted, as expected, but impressively the cost basis was updated immediately. SoFi is not particularly sophisticated but it will work for buy and hold.
My bonus paid out at the start of the month as expected. SoFi is a good option if you already have an account for their high yield checking, but their interface makes JP Morgan Self Directed look advanced.
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yatesd
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by yatesd »

Still happy with my transition from Vanguard to Schwab 6-months later...I have consolidated most accounts with them including a few IRA's, Checking, 529, etc.

I like that I can have a single dashboard, and a global no fee debit card. 24-hour service via phone, chat, etc is the main advantage for me.
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Leif
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Leif »

TomatoTomahto wrote: Sat Aug 06, 2022 12:04 pm
anon_investor wrote: Sat Aug 06, 2022 11:47 am So Fidelity takes a long time to make deposits available for withdrawal?
The time I got "caught" is when I expected a deposit (ACH from BoA) to be available in 2, at most 3, business days. I had significant assets at Fidelity at the time, but what I didn't realize is that it didn't matter, what mattered was the policies at UMB (which Fidelity uses for their CMA). So, my "personal rep" at Fidelity couldn't do a thing for me.
I had just the opposite experience. I made a mistake and let the balance in my Fidelity checking drop too low. I received a call from Fidelity telling me the balance was too low to cover a check I wrote. I was told they see I have money in another account and would I like to have them transfer some money over to cover the check.

Fidelity, however, does take too long to clear check deposits for withdrawal. Particularly in a case like mine where I deposit the same check ever month.
spammagnet
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by spammagnet »

Leif wrote: Sun Aug 07, 2022 9:59 am... Fidelity, however, does take too long to clear check deposits for withdrawal. Particularly in a case like mine where I deposit the same check ever month.
That is inconsistent with my experience. How do you deposit the checks?
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Leif
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Leif »

spammagnet wrote: Sun Aug 07, 2022 11:47 am
Leif wrote: Sun Aug 07, 2022 9:59 am... Fidelity, however, does take too long to clear check deposits for withdrawal. Particularly in a case like mine where I deposit the same check ever month.
That is inconsistent with my experience. How do you deposit the checks?
I deposit via their phone app.

Be sure you are not confusing being able to invest the deposited money vs. withdrawing the deposited money. If you want to invest the deposited money you only wait about 1-2 days. Sorry for derailing the thread.
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by bbrock »

Ally for checking/savings. No problems.
bbrock
nalor511
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Re: Transfer bonus

Post by nalor511 »

UncleLeo wrote: Fri Aug 05, 2022 3:23 am
whodidntante wrote: Thu Aug 04, 2022 11:23 pm
UncleLeo wrote: Tue Aug 02, 2022 6:50 pm
tj wrote: Mon Aug 01, 2022 10:05 am
02nz wrote: Sat Jul 30, 2022 4:39 pm

Call E*Trade, by phone you can typically get a better offer than the one on the website.

Agree re: converting to ETF first.
No need to call, just click the better link:

https://us.etrade.com/what-we-offer/how ... ra-cfc3500
Can the $1 mm threshold include Roth IRA accounts? For example, if I have a brokerage account and 2 roth IRA accounts with Vanguard that in total exceed $1 mm, but each is lower than that threshold would I be able to get the bonus if I transfer all accounts to the broker offering the bonus?
I conducted a highly similar experiment in the name of science and posted the results to this very thread. Since no Turing-test-passing intelligence should be subjected to trying to locate things using the terrible forum software here, I'll reach back into my mental search index and save you some effort. The answer is yes, or at least, it was yes for me. Good luck.
Thanks. Now I wonder if the transfer even has to be from the same brokerage. In other words, if I move 500k from Vanguard and another 500k from Fidelity to Etrade/Schwab within a certain time frame, would that count?
As long as your transfers are from another brokerage it does not all have to be from the same one
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by iamblessed »

Will Fidelity match bonuses from Etrade?
tj
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by tj »

iamblessed wrote: Mon Aug 08, 2022 10:22 pm Will Fidelity match bonuses from Etrade?
No, but Schwab should.
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Leif
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Leif »

tj wrote: Mon Aug 08, 2022 10:29 pm
iamblessed wrote: Mon Aug 08, 2022 10:22 pm Will Fidelity match bonuses from Etrade?
No, but Schwab should.
Fidelity matched my eTrade bonus. That was at the end of last year. Find your best bonus and contact Fidelity. But you will need to transfer >= 1 million. LadyGeek gives a detailed description of her experience. See here.
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anon_investor
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by anon_investor »

Leif wrote: Mon Aug 08, 2022 10:40 pm
tj wrote: Mon Aug 08, 2022 10:29 pm
iamblessed wrote: Mon Aug 08, 2022 10:22 pm Will Fidelity match bonuses from Etrade?
No, but Schwab should.
Fidelity matched my eTrade bonus. That was at the end of last year. Find your best bonus and contact Fidelity. But you will need to transfer >= 1 million. LadyGeek gives a detailed description of her experience. See here.
Now I just need $1 million to transfer!
chipaway
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by chipaway »

Has anyone received a bonus from Fidelity for converting their existing Fidelity 401k to an IRA? I thought I'd heard of that happening but don't remember the thread where I read it.

My Fidelity advisor asked me to do that and said that he would receive recognition of some sort. Not sure what the recognition was because he didn't spell it out. But I didn't receive anything for moving the money. Wondering if I could have asked for a bonus.
HomeStretch
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by HomeStretch »

TomatoTomahto wrote: Sat Aug 06, 2022 12:04 pm
anon_investor wrote: Sat Aug 06, 2022 11:47 am So Fidelity takes a long time to make deposits available for withdrawal?
The time I got "caught" is when I expected a deposit (ACH from BoA) to be available in 2, at most 3, business days. I had significant assets at Fidelity at the time, but what I didn't realize is that it didn't matter, what mattered was the policies at UMB (which Fidelity uses for their CMA). So, my "personal rep" at Fidelity couldn't do a thing for me.
Your point about UMB being slow to make CMA funds available is a good one.

I just ran into the same thing at Fidelity. I pulled $ via ACH into a new CMA account from BoA. $ were deposited into the ACH on Monday 8/1 and will not be available until today Tues 8/9. Had a small direct debit fail on Friday 8/4 as the CMA’s available balance was $0.93 short.

The Fidelity reps don’t have a great understanding of the UMB/Elan products (CMA, 2% VISA). They also don’t have a lot of accuracy/visibility for UMB products when answering questions, such as when funds will be available or their recent fail for me when advising that an agent/POA can use CMA bill pay (not true).

Edit to correct VISA is from Elan, not UMB.
Last edited by HomeStretch on Tue Aug 09, 2022 1:30 pm, edited 1 time in total.
tj
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by tj »

HomeStretch wrote: Tue Aug 09, 2022 6:19 am
TomatoTomahto wrote: Sat Aug 06, 2022 12:04 pm
anon_investor wrote: Sat Aug 06, 2022 11:47 am So Fidelity takes a long time to make deposits available for withdrawal?
The time I got "caught" is when I expected a deposit (ACH from BoA) to be available in 2, at most 3, business days. I had significant assets at Fidelity at the time, but what I didn't realize is that it didn't matter, what mattered was the policies at UMB (which Fidelity uses for their CMA). So, my "personal rep" at Fidelity couldn't do a thing for me.
Your point about UMB being slow to make CMA funds available is a good one.

I just ran into the same thing at Fidelity. I pulled $ via ACH into a new CMA account from BoA. $ were deposited into the ACH on Monday 8/1 and will not be available until today Tues 8/9. Had a small direct debit fail on Friday 8/4 as the CMA’s available balance was $0.93 short.

The Fidelity reps don’t have a great understanding of the UMB products (CMA, 2% VISA). They also don’t have a lot of accuracy/visibility for UMB products when answering questions, such as when funds will be available or their recent fail for me when advising that an agent/POA can use CMA bill pay (not true).
The credit card has nothing to do with UMB. It's Elan.
mrken
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by mrken »

Is the TD Ameritrade NC1000 bonus still live?
https://www.tdameritrade.com/client/referral/index.html

Doctor of Credit shows it as expired for some reason. Would an ACATS transfer from Schwab be a qualifying deposit?
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stoub
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by stoub »

mrken wrote: Tue Aug 09, 2022 10:03 pm Is the TD Ameritrade NC1000 bonus still live?
https://www.tdameritrade.com/client/referral/index.html

Doctor of Credit shows it as expired for some reason. Would an ACATS transfer from Schwab be a qualifying deposit?
I asked TD Ameritrade about this via Messenger and they replied that the bonus is live but transfers from Schwab aren't eligible. Details below.

"That promotion is valid. The referrer would not receive a promotional cash award, but the new client may receive a cash award depending on the amount of their deposit. ... In order to refer you, your friend must be logged into their TD Ameritrade account and navigate to Client Services > Refer a Friend. They will be prompted to enter your name and E-mail address. You will then receive an invitation E-mail, containing a link to open an account. You will want to open your account using that link so that the referral promotion will be automatically applied to your account."
No, assets from Charles Schwab do not qualify for this promotion.
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