The Final, Definitive Thread on Brokerage Transfer Bonuses

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tACKJAYE
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Re: TastyTrade new account bonus along with referrral bonus for referrer.

Post by tACKJAYE »

Thanks!
bbrock wrote: Tue Jun 04, 2024 9:39 am
When I spoke with TT, they were very adamant that if I already received a bonus, it’s a one time deal. If you already received a bonus in the past, unless there’s something that’s changed, I’m don’t believe your eligible again
bbrock
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by bbrock »

tACKJAYE wrote: Tue Jun 04, 2024 9:44 am Yes, I have. In most cases, I would have to do a chat and they would reimburse me. I never call them, so I can do parallel tasks.
bbrock wrote: Tue Jun 04, 2024 9:36 am @ tACKJAYE:
When using Fido as your hub, have you gotten them to regularly reimburse your ACAT transfer fees from your outgoing institution? Or, do you transfer from the brokerage that has the term ending, to Fido, then go on to the next brokerage bonus offer from Fido?
@tACKJAYE, really, even via chat? That rocks, as I'd prefer using chat, just as yourself. Have you found that you have been able to get as good of a response via chat vs phone? For e.g., with reimbursements?

If I may ask, do you have substantial $$$ w/ Fido. It appears reading here that they reimburse, at their discretion, and/or at certain wealth levels.
Last edited by bbrock on Tue Jun 04, 2024 11:22 am, edited 1 time in total.
bbrock
bbrock
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Re: TastyTrade new account bonus along with referrral bonus for referrer.

Post by bbrock »

tACKJAYE wrote: Tue Jun 04, 2024 9:44 am Thanks!
bbrock wrote: Tue Jun 04, 2024 9:39 am
When I spoke with TT, they were very adamant that if I already received a bonus, it’s a one time deal. If you already received a bonus in the past, unless there’s something that’s changed, I’m don’t believe your eligible again
Likewise, thx to you, as you reminded me to sign up for the referral bonus when I open an account for my DW to take advantage of their bonus.
:sharebeer
bbrock
datascientistdude
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by datascientistdude »

bbrock wrote: Tue Jun 04, 2024 11:09 am
tACKJAYE wrote: Tue Jun 04, 2024 9:44 am Yes, I have. In most cases, I would have to do a chat and they would reimburse me. I never call them, so I can do parallel tasks.
bbrock wrote: Tue Jun 04, 2024 9:36 am @ tACKJAYE:
When using Fido as your hub, have you gotten them to regularly reimburse your ACAT transfer fees from your outgoing institution? Or, do you transfer from the brokerage that has the term ending, to Fido, then go on to the next brokerage bonus offer from Fido?
Really, even via chat? That rocks, as I'd prefer using chat, just as yourself.

If I may ask, do you have substantial $$$ w/ Fido. It appears reading here that they reimburse, at their discretion, and/or at certain wealth levels.
There's an online form at Fido to request reimbursement of ACAT fees. You don't even have to chat anyone. Fido will automatically reimburse fees for any transfer above 25k regardless of wealth level no questions asked.
bbrock
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by bbrock »

datascientistdude wrote: Tue Jun 04, 2024 11:17 am
bbrock wrote: Tue Jun 04, 2024 11:09 am
tACKJAYE wrote: Tue Jun 04, 2024 9:44 am Yes, I have. In most cases, I would have to do a chat and they would reimburse me. I never call them, so I can do parallel tasks.
bbrock wrote: Tue Jun 04, 2024 9:36 am @ tACKJAYE:
When using Fido as your hub, have you gotten them to regularly reimburse your ACAT transfer fees from your outgoing institution? Or, do you transfer from the brokerage that has the term ending, to Fido, then go on to the next brokerage bonus offer from Fido?
Really, even via chat? That rocks, as I'd prefer using chat, just as yourself.

If I may ask, do you have substantial $$$ w/ Fido. It appears reading here that they reimburse, at their discretion, and/or at certain wealth levels.
There's an online form at Fido to request reimbursement of ACAT fees. You don't even have to chat anyone. Fido will automatically reimburse fees for any transfer above 25k regardless of wealth level no questions asked.
Awesome! Thx for that hat tip.
bbrock
nalor511
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Re: TastyTrade new account bonus along with referrral bonus for referrer.

Post by nalor511 »

tACKJAYE wrote: Tue Jun 04, 2024 8:37 am Does anyone know if I use a referral link, I could also get a new account tiered bonus?

https://tastytrade.com/referral/

https://info.tastytrade.com/tasty-offer
With TT you need to enter the bonus code in the referral code field... so how could you use both? https://support.tastytrade.com/support/ ... 3000678965

Don't use a referral link instead of a bonus link, because then you won't get a "referral code" field and you'll get the smaller referral bonus instead of the larger new account promotion
potatogun
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by potatogun »

datascientistdude wrote: Tue Jun 04, 2024 11:17 am There's an online form at Fido to request reimbursement of ACAT fees. You don't even have to chat anyone. Fido will automatically reimburse fees for any transfer above 25k regardless of wealth level no questions asked.
Where have you seen/heard regardless of $25K (transfer or already present at Fidelity?) and that it's automated?

It's been some months for me, but it wasn't automatic from what I could tell.

This form? Or are you referring to another? https://digital.fidelity.com/ftgw/digit ... tf/feeinfo
datascientistdude
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by datascientistdude »

potatogun wrote: Tue Jun 04, 2024 7:23 pm
datascientistdude wrote: Tue Jun 04, 2024 11:17 am There's an online form at Fido to request reimbursement of ACAT fees. You don't even have to chat anyone. Fido will automatically reimburse fees for any transfer above 25k regardless of wealth level no questions asked.
Where have you seen/heard regardless of $25K (transfer or already present at Fidelity?) and that it's automated?

It's been some months for me, but it wasn't automatic from what I could tell.

This form? Or are you referring to another? https://digital.fidelity.com/ftgw/digit ... tf/feeinfo
Yes, that's the form. It says 25k on the form right there. 25k transfer regardless of how much is already at Fidelity. And automated may not be the right word here. I just meant that I always just filled out the form and then the fee always gets reimbursed into my account within a couple days.
Ron Ronnerson
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Ron Ronnerson »

We have our Roth IRAs at Merrill Edge as we get good usage out of the Bank of America credit cards with platinum honors. During April of 2023, my wife had a little over $200k in her account and I had about $140k in mine.

I called Merrill Edge’s customer service line and asked about a retention bonus. They connected us to someone who said he’d check and email us back.
We were offered $200 for keeping the money with Merrill Edge for 6 months. I asked what they’d offer for a longer period of time and the guy checked again and said they could do $300 for 12 months. We went with that offer.

I received my bonus in April 2024 but my wife didn’t get hers. We waited until late May and emailed the rep back with evidence of the agreement we’d made a year ago as it was all in the email thread. After a couple of messages back and forth, my wife finally got her bonus a couple of days ago.

So while the process could have been a little smoother, it was a relatively easy $600 in Roth accounts for money we didn’t intend to transfer anyhow.
tACKJAYE
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by tACKJAYE »

I am also platinum honors and have a joint taxable brokerage account to keep that status for me and my spouse. Initially transferred our IRAs and got the bonus from them. But after going through an ordeal when I had to remove excess contributions, I decided that Fido is the way to go for retirement accounts....viewtopic.php?t=391752
Ron Ronnerson wrote: Wed Jun 05, 2024 1:57 pm We have our Roth IRAs at Merrill Edge as we get good usage out of the Bank of America credit cards with platinum honors. During April of 2023, my wife had a little over $200k in her account and I had about $140k in mine.

I called Merrill Edge’s customer service line and asked about a retention bonus. They connected us to someone who said he’d check and email us back.
We were offered $200 for keeping the money with Merrill Edge for 6 months. I asked what they’d offer for a longer period of time and the guy checked again and said they could do $300 for 12 months. We went with that offer.

I received my bonus in April 2024 but my wife didn’t get hers. We waited until late May and emailed the rep back with evidence of the agreement we’d made a year ago as it was all in the email thread. After a couple of messages back and forth, my wife finally got her bonus a couple of days ago.

So while the process could have been a little smoother, it was a relatively easy $600 in Roth accounts for money we didn’t intend to transfer anyhow.
bbrock
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by bbrock »

tACKJAYE wrote: Wed Jun 05, 2024 6:21 pm I am also platinum honors and have a joint taxable brokerage account to keep that status for me and my spouse. Initially transferred our IRAs and got the bonus from them. But after going through an ordeal when I had to remove excess contributions, I decided that Fido is the way to go for retirement accounts....viewtopic.php?t=391752
Ron Ronnerson wrote: Wed Jun 05, 2024 1:57 pm We have our Roth IRAs at Merrill Edge as we get good usage out of the Bank of America credit cards with platinum honors. During April of 2023, my wife had a little over $200k in her account and I had about $140k in mine.

I called Merrill Edge’s customer service line and asked about a retention bonus. They connected us to someone who said he’d check and email us back.
We were offered $200 for keeping the money with Merrill Edge for 6 months. I asked what they’d offer for a longer period of time and the guy checked again and said they could do $300 for 12 months. We went with that offer.

I received my bonus in April 2024 but my wife didn’t get hers. We waited until late May and emailed the rep back with evidence of the agreement we’d made a year ago as it was all in the email thread. After a couple of messages back and forth, my wife finally got her bonus a couple of days ago.

So while the process could have been a little smoother, it was a relatively easy $600 in Roth accounts for money we didn’t intend to transfer anyhow.
Was it you tACK that stated that the jt. taxable brokerage vs. trust was good enough? Well, whether or not you were, I took that advice since DW and I are still awaiting BofA/ME to process these forms. Forms submitted last week. Decided to go the jt. acct. route and get it going. Acct. created w/out prob. Only problem was getting it to show on my end. But simple fix after a call. So, now we both got individual taxable CMA's, jt CMA, and then our Roth IRA's there. Awaiting on this ACAT to show up from TT to my individual CMA, then will transfer it to our jt. Perhaps that will expedite BofA/ME's review of DW's Preferred Rewards status and she gets to PH. Watch, it will be one day shy of the 3 mo. review... LOL.
bbrock
bbrock
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by bbrock »

F/u to my f/u re: HSBC.

Be forewarned. I will not go for what appears to be the carrot vs. the stick. I have definitely gotten the stick and then some. Low hanging fruit my Kester.

Absolutely everyone I have spoken to since 6/3/24 regarding the T&C of the $4000 bonus tier offer they had running 1/8/24 - 3/27/24 acts/speaks like a deer-in-the-headlights and doesn't know what is going on. It is pathetic/infuriating. Offering a bonus, and then can't even discuss it b/c you don't know anything about it and can't even access your own HSBC documents about it. My issue has gone from multiple customer service reps to escalation dept. mgr. to complaints management, still without resolution. They are the best I have ever seen at passing the buck off/shunning accountability. They won't even give me a phone extension, email, last name, to contact them. It is sad. I am on the frontline w/ my profession, and people can easily file complaints against me/my license. Never have I seen where a phone rep. won't even relinquish their info. What an environment/sad state of affairs.

Again, be forewarned about doing ANY business with HSBC. It is so NOT worth it.
bbrock
icarus18
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by icarus18 »

bbrock wrote: Thu Jun 06, 2024 4:51 pm F/u to my f/u re: HSBC.

Be forewarned. I will not go for what appears to be the carrot vs. the stick. I have definitely gotten the stick and then some. Low hanging fruit my Kester.

Absolutely everyone I have spoken to since 6/3/24 regarding the T&C of the $4000 bonus tier offer they had running 1/8/24 - 3/27/24 acts/speaks like a deer-in-the-headlights and doesn't know what is going on. It is pathetic/infuriating. Offering a bonus, and then can't even discuss it b/c you don't know anything about it and can't even access your own HSBC documents about it. My issue has gone from multiple customer service reps to escalation dept. mgr. to complaints management, still without resolution. They are the best I have ever seen at passing the buck off/shunning accountability. They won't even give me a phone extension, email, last name, to contact them. It is sad. I am on the frontline w/ my profession, and people can easily file complaints against me/my license. Never have I seen where a phone rep. won't even relinquish their info. What an environment/sad state of affairs.

Again, be forewarned about doing ANY business with HSBC. It is so NOT worth it.
I think its good that you posted this experience for anyone considering HSBC.
I follow this thread intermittently but have never bothered to jump on any bonuses until recently, when I moved ~200k of Roth money to Robinhood for the 3% bonus for IRAs/Roth IRAs. I remember how much gnashing of teeth and wailing was going on in that thread about how people didn't trust them, etc. But it was incredibly simple, smooth, and quick; compared to this legacy banking institution. Just makes you think.
JD09
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by JD09 »

bbrock wrote: Thu Jun 06, 2024 4:51 pm F/u to my f/u re: HSBC.

Be forewarned. I will not go for what appears to be the carrot vs. the stick. I have definitely gotten the stick and then some. Low hanging fruit my Kester.

Absolutely everyone I have spoken to since 6/3/24 regarding the T&C of the $4000 bonus tier offer they had running 1/8/24 - 3/27/24 acts/speaks like a deer-in-the-headlights and doesn't know what is going on. It is pathetic/infuriating. Offering a bonus, and then can't even discuss it b/c you don't know anything about it and can't even access your own HSBC documents about it. My issue has gone from multiple customer service reps to escalation dept. mgr. to complaints management, still without resolution. They are the best I have ever seen at passing the buck off/shunning accountability. They won't even give me a phone extension, email, last name, to contact them. It is sad. I am on the frontline w/ my profession, and people can easily file complaints against me/my license. Never have I seen where a phone rep. won't even relinquish their info. What an environment/sad state of affairs.

Again, be forewarned about doing ANY business with HSBC. It is so NOT worth it.
Thanks for sharing. I'm glad I skipped this one. I had a call with HSBC and considered it but it didn't sound easy. From whatever I read - they are not easy to deal with. Luckily Schwab and E*TRADE came along with lucrative offers for existing customers
bbrock
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by bbrock »

icarus18 wrote: Thu Jun 06, 2024 7:35 pm
bbrock wrote: Thu Jun 06, 2024 4:51 pm F/u to my f/u re: HSBC.

Be forewarned. I will not go for what appears to be the carrot vs. the stick. I have definitely gotten the stick and then some. Low hanging fruit my Kester.

Absolutely everyone I have spoken to since 6/3/24 regarding the T&C of the $4000 bonus tier offer they had running 1/8/24 - 3/27/24 acts/speaks like a deer-in-the-headlights and doesn't know what is going on. It is pathetic/infuriating. Offering a bonus, and then can't even discuss it b/c you don't know anything about it and can't even access your own HSBC documents about it. My issue has gone from multiple customer service reps to escalation dept. mgr. to complaints management, still without resolution. They are the best I have ever seen at passing the buck off/shunning accountability. They won't even give me a phone extension, email, last name, to contact them. It is sad. I am on the frontline w/ my profession, and people can easily file complaints against me/my license. Never have I seen where a phone rep. won't even relinquish their info. What an environment/sad state of affairs.

Again, be forewarned about doing ANY business with HSBC. It is so NOT worth it.
I think its good that you posted this experience for anyone considering HSBC.
I follow this thread intermittently but have never bothered to jump on any bonuses until recently, when I moved ~200k of Roth money to Robinhood for the 3% bonus for IRAs/Roth IRAs. I remember how much gnashing of teeth and wailing was going on in that thread about how people didn't trust them, etc. But it was incredibly simple, smooth, and quick; compared to this legacy banking institution. Just makes you think.
Exactly. I read HSBC, I thought large institution no problemo, definitely thought wrong there.
bbrock
amiablealien
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Re: TastyTrade new account bonus along with referrral bonus for referrer.

Post by amiablealien »

tACKJAYE wrote: Tue Jun 04, 2024 8:37 am Does anyone know if I use a referral link, I could also get a new account tiered bonus?

https://tastytrade.com/referral/

https://info.tastytrade.com/tasty-offer
My understanding is you can use both. While signing up I did not see a way to enter both, so used the sign-up bonus code. After I signed up, I saw another place to enter the referral bonus, while the signup bonus code was still intact. So, I think you can use both.
curious george
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by curious george »

For etrade - who does one contact to talk about transfer bonuses ? Are they all MS now?
I am trying to get a bonus for larger amt and want to see if they will bump up their match.
Do they still offer free VG fund purchases like Etrade ?
tj
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by tj »

curious george wrote: Fri Jun 07, 2024 9:10 pm For etrade - who does one contact to talk about transfer bonuses ? Are they all MS now?
I am trying to get a bonus for larger amt and want to see if they will bump up their match.
Do they still offer free VG fund purchases like Etrade ?
There's nobody to contact. You click the promo links. Haven't heard of Etrade matching other broker's bonuses. What public offer do you see from a major that is better than E Trade?
nalor511
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by nalor511 »

curious george wrote: Fri Jun 07, 2024 9:10 pm For etrade - who does one contact to talk about transfer bonuses ? Are they all MS now?
I am trying to get a bonus for larger amt and want to see if they will bump up their match.
Do they still offer free VG fund purchases like Etrade ?
Etrade does no matching, only public offers, some are targetted
curious george
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by curious george »

Looking at consolidating and trying to move a larger amount for a larger bonus
Can’t figure out how to do that
Any suggestions?
tj
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by tj »

curious george wrote: Fri Jun 07, 2024 9:30 pm Looking at consolidating and trying to move a larger amount for a larger bonus
Can’t figure out how to do that
Any suggestions?
That's not a thing that they do. You take their public offer of you go somewhere else...
placeholder
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by placeholder »

curious george wrote: Fri Jun 07, 2024 9:30 pm Looking at consolidating and trying to move a larger amount for a larger bonus
Can’t figure out how to do that
Any suggestions?
How as the one below goes up to 1.5 million:

https://us.etrade.com/what-we-offer/how-it-works/promo
User avatar
whodidntante
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by whodidntante »

placeholder wrote: Fri Jun 07, 2024 9:38 pm
curious george wrote: Fri Jun 07, 2024 9:30 pm Looking at consolidating and trying to move a larger amount for a larger bonus
Can’t figure out how to do that
Any suggestions?
How as the one below goes up to 1.5 million:

https://us.etrade.com/what-we-offer/how-it-works/promo
Meh.

Etrade recently forked over 2k for my 500k transfer.

Consider robinhood.
curious george
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by curious george »

Anybody do a partial transfer over to etrade or is that too complex given their lack of good customer service ?
User avatar
whodidntante
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by whodidntante »

curious george wrote: Sat Jun 08, 2024 12:00 pm Anybody do a partial transfer over to etrade or is that too complex given their lack of good customer service ?
Not more difficult than any other brokerage. I wouldn't say that their customer service is bad. It's just not as consistent as Fidelity. If you get a dud, HUCA.
tj
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by tj »

I don't recall ever needing to contact ETrade's customer service.
nalor511
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by nalor511 »

curious george wrote: Sat Jun 08, 2024 12:00 pm Anybody do a partial transfer over to etrade or is that too complex given their lack of good customer service ?
I did 2 partials. Both went fine. I do not recommend etrade because their customer service is not empowered to do anything, not because they can't do an ACATs correctly. I can't even get an account opened online without the back office doing some magic. When I call, the customer service rep can't do the magic, they have to get me to the special dept that can do it. Since the merger, I recommend going somewhere else, unless you like calling. But I'll call for bonus opportunities, if I must. If your account is already open, and the bonus enrollment link works automatically, you may never have to call.
placeholder
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by placeholder »

I have had accounts at etrade and done several transfers in and out with no trouble but I've never called customer service because all that can be done easily from the website.
czaj
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by czaj »

bbrock wrote: Mon Jun 03, 2024 7:29 pm Would like to update y'all on status of HSBC $2500 for $300k-$499,999.99 offer I am waiting on.

My term ended 5/31/24. I had already verified it during term, that the bonus pays out to your HSBC premier checking acct. w/in 8 wks after term end. And, was already told I could transfer out assets while awaiting bonus. Figured I'd ask one more time just to verify b/c thus far it has been way too much work for this bonus.

In this call, I was already expecting a different answer, but I was not expecting, the rep to say, "What bonus are you referring to? I don't see any current bonus on your account." Lost it at that and blew my lid. Fortunately, I have the full bonus T&C, a six page chat log I had saved from a discussion on my bonus with one of the reps. Got a call with investment team tomorrow.

Long story short, I will NEVER return to HSBC again for any of their bonuses. This has been a massive headache, and I thought E*Trade held that rank for their massive cost basis snafu during my bonus with them. Be forewarned.
My 3 months isn’t up yet, but when I opened my account a HSBC Vice President/Premier Relationship Manager reached out and I have email proof of him confirming the bonus promotion. Did you have a contact like that?
BuddyJet
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by BuddyJet »

curious george wrote: Sat Jun 08, 2024 12:00 pm Anybody do a partial transfer over to etrade or is that too complex given their lack of good customer service ?
After a few transfers in and out with no issues, I currently have a problem with the basis of my transferred shares showing a zero basis and a purchase date of when the shares were received by ETrade. I’ve made many calls including three to their “basis” team. They promise will be done in a week or they are behind and will catch up soon.

I told them that I would be filing a FINRA or other regulatory complaint next week if the issue isn’t resolved.
People say nothing is impossible. I do nothing all day.
bbrock
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by bbrock »

czaj wrote: Sat Jun 08, 2024 6:31 pm
bbrock wrote: Mon Jun 03, 2024 7:29 pm Would like to update y'all on status of HSBC $2500 for $300k-$499,999.99 offer I am waiting on.

My term ended 5/31/24. I had already verified it during term, that the bonus pays out to your HSBC premier checking acct. w/in 8 wks after term end. And, was already told I could transfer out assets while awaiting bonus. Figured I'd ask one more time just to verify b/c thus far it has been way too much work for this bonus.

In this call, I was already expecting a different answer, but I was not expecting, the rep to say, "What bonus are you referring to? I don't see any current bonus on your account." Lost it at that and blew my lid. Fortunately, I have the full bonus T&C, a six page chat log I had saved from a discussion on my bonus with one of the reps. Got a call with investment team tomorrow.

Long story short, I will NEVER return to HSBC again for any of their bonuses. This has been a massive headache, and I thought E*Trade held that rank for their massive cost basis snafu during my bonus with them. Be forewarned.
My 3 months isn’t up yet, but when I opened my account a HSBC Vice President/Premier Relationship Manager reached out and I have email proof of him confirming the bonus promotion. Did you have a contact like that?
Hey czaj. Absolutely no such confirmation email. The only thing I got when I called during acct setup to confirm the details of the offer was the specific promo code, which they said was applied to my account.
Last edited by bbrock on Mon Jun 10, 2024 12:13 pm, edited 1 time in total.
bbrock
EnjoyIt
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by EnjoyIt »

curious george wrote: Sat Jun 08, 2024 12:00 pm Anybody do a partial transfer over to etrade or is that too complex given their lack of good customer service ?
I have been very happy with E*Trade’s customer service.
A time to EVALUATE your jitters: | viewtopic.php?p=1139732#p1139732
EnjoyIt
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by EnjoyIt »

Advice needed I'm one of those people with a cost basis issue with Webull:

Moved funds from Webull to Schwab in January and still the cost basis has not been transferred. I have had multiple interactions with Schwab and Webull. Schwab says they never received it, Webull says they sent it digitally via cbrs portal.
Webull has sent me a CSV file with the cost basis so they have it. I sent it to Schwab a few weeks ago and they have not imported it that way either.

What is my next step?
A time to EVALUATE your jitters: | viewtopic.php?p=1139732#p1139732
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by FrugalProfessor »

need403bhelp wrote: Wed May 29, 2024 2:29 pm
tj wrote: Wed May 29, 2024 2:08 pm
need403bhelp wrote: Wed May 29, 2024 1:54 pm Anyone who has done WF $2500 bonus - any idea if doing a full transfer out of a qualifying WellsTrade IRA account AFTER 90 day holding period but BEFORE bonus posting will impact bonus in any way?

Trying to get some funds back to ME for my platinum honors anniversary which is June I believe
Any time you do a full transfer out before receiving a bonus, you are basically playing with fire.
Ok thanks! Also checked and preferred rewards anniversary is July
Plus, there's the whole 3-month grace period for the renewal period. I'm going through that right now. Renewal was in April, but April + 3 months = July for the reevaluation of the $100k status.
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by FrugalProfessor »

For those that are churning these bonuses, what is the average amount of bonuses collected per year on a balance of say ~$500k. How sustainable are these bonuses year after year?

I have an appointment with WF tomorrow for the $2.5k premier bonus. Any idea if it will be problematic opening up a solo checking account and parking the $250k (plus margin for volatility) of assets at Wells Trade in a joint account? If so, then I suppose the logical thing to do is to beg my wife to come with me to the WF appointment to open up a joint checking account?
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by invest411 »

FrugalProfessor wrote: Mon Jun 10, 2024 10:37 pm I have an appointment with WF tomorrow for the $2.5k premier bonus. Any idea if it will be problematic opening up a solo checking account and parking the $250k (plus margin for volatility) of assets at Wells Trade in a joint account? If so, then I suppose the logical thing to do is to beg my wife to come with me to the WF appointment to open up a joint checking account?
So long as you have the joint WellsTrade account created and linked to the new solo premier account before bringing in the requisite amount to the joint WellsTrade account from outside WellsFargo, you should be fine. You can link the joint WT account to the premier checking account online after you have opened the premier account at the branch (or you can have them link it at the branch if you already have the joint WT account). This is what I did and got the bonus posted to the individual premier account with no issues.
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by jocdoc »

I did a partial ACATS from VG to Etrade. No problems.
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by FrugalProfessor »

invest411 wrote: Tue Jun 11, 2024 7:31 am
FrugalProfessor wrote: Mon Jun 10, 2024 10:37 pm I have an appointment with WF tomorrow for the $2.5k premier bonus. Any idea if it will be problematic opening up a solo checking account and parking the $250k (plus margin for volatility) of assets at Wells Trade in a joint account? If so, then I suppose the logical thing to do is to beg my wife to come with me to the WF appointment to open up a joint checking account?
So long as you have the joint WellsTrade account created and linked to the new solo premier account before bringing in the requisite amount to the joint WellsTrade account from outside WellsFargo, you should be fine. You can link the joint WT account to the premier checking account online after you have opened the premier account at the branch (or you can have them link it at the branch if you already have the joint WT account). This is what I did and got the bonus posted to the individual premier account with no issues.
Thanks so much for the clarification!!!!
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by feehater »

FrugalProfessor wrote: Tue Jun 11, 2024 9:26 am
invest411 wrote: Tue Jun 11, 2024 7:31 am
FrugalProfessor wrote: Mon Jun 10, 2024 10:37 pm I have an appointment with WF tomorrow for the $2.5k premier bonus. Any idea if it will be problematic opening up a solo checking account and parking the $250k (plus margin for volatility) of assets at Wells Trade in a joint account? If so, then I suppose the logical thing to do is to beg my wife to come with me to the WF appointment to open up a joint checking account?
So long as you have the joint WellsTrade account created and linked to the new solo premier account before bringing in the requisite amount to the joint WellsTrade account from outside WellsFargo, you should be fine. You can link the joint WT account to the premier checking account online after you have opened the premier account at the branch (or you can have them link it at the branch if you already have the joint WT account). This is what I did and got the bonus posted to the individual premier account with no issues.
Thanks so much for the clarification!!!!
I'm in the same boat, with my money in a joint account at VG. If I want to leave open the possibility of doing the WF bonus for both me and my wife separately, I need to get the ETFs into an individual account first right? What is the easiest way to do this? Transfer to Fidelity where supposedly it is easier to go joint->individual online, and then proceed to WF after that?

Or should I not bother since this offer is set to expire in two weeks and we don't know if it will be extended?
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by tj »

FrugalProfessor wrote: Mon Jun 10, 2024 10:37 pm For those that are churning these bonuses, what is the average amount of bonuses collected per year on a balance of say ~$500k. How sustainable are these bonuses year after year?
It just depends on what's available at a given time when you have assets available to park somewhere. I don't think it's possible to calculate an average.
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by invest411 »

I am planning to open a MerrillEdge CMA (taxable) account to avail the PR1000 preferred rewards bonus. I am wondering if I open a joint account with my spouse, will my spouse lose the opportunity to make avail of the same offer for another CMA account later this year. The terms say "Cash bonus offers, in the aggregate, are limited to one CMA and one IRA per accountholder." Wondering if anybody has opened a joint account and received a bonus and then had their spouse open another joint account with them being the primary later the same year to get the bonus again?
Last edited by invest411 on Tue Jun 11, 2024 6:37 pm, edited 1 time in total.
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by nalor511 »

FrugalProfessor wrote: Mon Jun 10, 2024 10:37 pm For those that are churning these bonuses, what is the average amount of bonuses collected per year on a balance of say ~$500k. How sustainable are these bonuses year after year?
With the RH 3% IRA bonus this year you'd have made $15k. While that's not going to be the norm, I would say I've been clearing 0.8-2% per year on the regular in bonuses, and I don't try all that hard
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by potatogun »

You can make a guesstimate. Say 30-75bps on $500K. Maybe much higher if a couple solid offers like WF and CPC are available to churn through each year. Or crazy offers like WeBull or RH's very solid 3% for 5 year hold. To a certain degree, it's not a linear relationship and it's about optimizing the tiers (splitting up assets -- also wise for with SIPC).
tj wrote: Tue Jun 11, 2024 3:17 pm
FrugalProfessor wrote: Mon Jun 10, 2024 10:37 pm For those that are churning these bonuses, what is the average amount of bonuses collected per year on a balance of say ~$500k. How sustainable are these bonuses year after year?
It just depends on what's available at a given time when you have assets available to park somewhere. I don't think it's possible to calculate an average.
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by tj »

potatogun wrote: Tue Jun 11, 2024 6:31 pm You can make a guesstimate. Say 30-75bps on $500K. Maybe much higher if a couple solid offers like WF and CPC are available to churn through each year. Or crazy offers like WeBull or RH's very solid 3% for 5 year hold. To a certain degree, it's not a linear relationship and it's about optimizing the tiers (splitting up assets -- also wise for with SIPC).
tj wrote: Tue Jun 11, 2024 3:17 pm
FrugalProfessor wrote: Mon Jun 10, 2024 10:37 pm For those that are churning these bonuses, what is the average amount of bonuses collected per year on a balance of say ~$500k. How sustainable are these bonuses year after year?
It just depends on what's available at a given time when you have assets available to park somewhere. I don't think it's possible to calculate an average.

Sure - but if you do one deal, you might not have any funds available for the next inevitable one, which may or may not be better.

For example, my Roth IRA is locked up at RH for 5 years. It might have been more advantageous to skip that and save for better offers, but there might not be better offers.

My point was that all you can do is make the decision based on what incentives are available for your assets at present time.
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by placeholder »

The robinhood one is a little tricky to analyze:

1. An easy look is to consider it 0.6% per year for five years which for say 200k is 1200 each year which in its own right is not bad and better than most custodians like merrill edge or etrade usually have available.

2. However you get the bonus up front so you have potential growth through those years so it's not quite like a bonus every year.
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by potatogun »

Yes, it's like anything in life with uncertainty and commitment. If someone hasn't been paying attention to bonuses at all, they're looking for a ballpark. That gives them a rough base rate to compare deals at the margin before making a (temporarily) irreversible commitment. Sometimes better promos come along. Oh well.
tj wrote: Tue Jun 11, 2024 6:37 pm
potatogun wrote: Tue Jun 11, 2024 6:31 pm You can make a guesstimate. Say 30-75bps on $500K. Maybe much higher if a couple solid offers like WF and CPC are available to churn through each year. Or crazy offers like WeBull or RH's very solid 3% for 5 year hold. To a certain degree, it's not a linear relationship and it's about optimizing the tiers (splitting up assets -- also wise for with SIPC).

It just depends on what's available at a given time when you have assets available to park somewhere. I don't think it's possible to calculate an average.
Sure - but if you do one deal, you might not have any funds available for the next inevitable one, which may or may not be better.

For example, my Roth IRA is locked up at RH for 5 years. It might have been more advantageous to skip that and save for better offers, but there might not be better offers.

My point was that all you can do is make the decision based on what incentives are available for your assets at present time.
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by FrugalProfessor »

tj wrote: Tue Jun 11, 2024 6:37 pm
potatogun wrote: Tue Jun 11, 2024 6:31 pm You can make a guesstimate. Say 30-75bps on $500K. Maybe much higher if a couple solid offers like WF and CPC are available to churn through each year. Or crazy offers like WeBull or RH's very solid 3% for 5 year hold. To a certain degree, it's not a linear relationship and it's about optimizing the tiers (splitting up assets -- also wise for with SIPC).
tj wrote: Tue Jun 11, 2024 3:17 pm
FrugalProfessor wrote: Mon Jun 10, 2024 10:37 pm For those that are churning these bonuses, what is the average amount of bonuses collected per year on a balance of say ~$500k. How sustainable are these bonuses year after year?
It just depends on what's available at a given time when you have assets available to park somewhere. I don't think it's possible to calculate an average.

Sure - but if you do one deal, you might not have any funds available for the next inevitable one, which may or may not be better.

For example, my Roth IRA is locked up at RH for 5 years. It might have been more advantageous to skip that and save for better offers, but there might not be better offers.

My point was that all you can do is make the decision based on what incentives are available for your assets at present time.
Thanks for the responses. 1% seems doable on $500k with really generous promos, a bit of work, and a potential player two involved (my spouse).

I opened up the premier checking today in branch. Banker was friendly. No hard sales pitches. 30 minutes. Declined debit card, etc.

Opening up the joint brokerage account at WellsTrade was a pain. Since it was joint, I had to call in. Another 30 min gone.

Then I initiated the transfer in kind from Vanguard. No online form available for some reason. I was about to print off PDF and mail in, but tried calling CS again. They generated a DocuSign of the PDF form, but I have no confidence it will process correctly since I didn't have a place for me to upload a VG statement. Another 30 min gone.

I'm reminded why these are such a pain.

On the WellsFargo front, my wife is a potential "Player 2" and I would be interested to see how to involve her for another $2.5k, but I'm unsure of the mechanics since our Vanguard money is in a joint brokerage.

Assuming the promotion is extended another few months, what is the order of operations? Wait 90 days, transfer assets out of joint WellsTrade once my $2.5k bonus clears, wife signs up for premier checking, transfer assets back into joint WellsTrade? Or would I have to close joint WellsTrade and reopen? Or could we just bring another incremental $250k on top of the existing $250k?

Thanks in advance. I realize I'm digging into the weeds here. Just curious to see if anyone has gone through this process with a spouse yet. I guess it would be a lot simpler if we had individual brokerage accounts.
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by bbrock »

FrugalProfessor wrote: Wed Jun 12, 2024 1:35 pm
tj wrote: Tue Jun 11, 2024 6:37 pm
potatogun wrote: Tue Jun 11, 2024 6:31 pm You can make a guesstimate. Say 30-75bps on $500K. Maybe much higher if a couple solid offers like WF and CPC are available to churn through each year. Or crazy offers like WeBull or RH's very solid 3% for 5 year hold. To a certain degree, it's not a linear relationship and it's about optimizing the tiers (splitting up assets -- also wise for with SIPC).
tj wrote: Tue Jun 11, 2024 3:17 pm
FrugalProfessor wrote: Mon Jun 10, 2024 10:37 pm For those that are churning these bonuses, what is the average amount of bonuses collected per year on a balance of say ~$500k. How sustainable are these bonuses year after year?
It just depends on what's available at a given time when you have assets available to park somewhere. I don't think it's possible to calculate an average.

Sure - but if you do one deal, you might not have any funds available for the next inevitable one, which may or may not be better.

For example, my Roth IRA is locked up at RH for 5 years. It might have been more advantageous to skip that and save for better offers, but there might not be better offers.

My point was that all you can do is make the decision based on what incentives are available for your assets at present time.
Thanks for the responses. 1% seems doable on $500k with really generous promos, a bit of work, and a potential player two involved (my spouse).

I opened up the premier checking today in branch. Banker was friendly. No hard sales pitches. 30 minutes. Declined debit card, etc.

Opening up the joint brokerage account at WellsTrade was a pain. Since it was joint, I had to call in. Another 30 min gone.

Then I initiated the transfer in kind from Vanguard. No online form available for some reason. I was about to print off PDF and mail in, but tried calling CS again. They generated a DocuSign of the PDF form, but I have no confidence it will process correctly since I didn't have a place for me to upload a VG statement. Another 30 min gone.

I'm reminded why these are such a pain.

On the WellsFargo front, my wife is a potential "Player 2" and I would be interested to see how to involve her for another $2.5k, but I'm unsure of the mechanics since our Vanguard money is in a joint brokerage.

Assuming the promotion is extended another few months, what is the order of operations? Wait 90 days, transfer assets out of joint WellsTrade once my $2.5k bonus clears, wife signs up for premier checking, transfer assets back into joint WellsTrade? Or would I have to close joint WellsTrade and reopen? Or could we just bring another incremental $250k on top of the existing $250k?

Thanks in advance. I realize I'm digging into the weeds here. Just curious to see if anyone has gone through this process with a spouse yet. I guess it would be a lot simpler if we had individual brokerage accounts.
I’m about to do it. I already have individual accounts for both of us and jt at ME, Fido, annd Trust account at Vanguard. I’m transferring in over 250 K from Other brokerages to my Fidelity brokerage, then from there to our joint Fidelity brokerage, then from there to Her individual Fido, then it will go to her well trade account that I set up. Simultaneously, I’m also going to take advantage of the tastytrade referral for my wife, open up an individual brokerage account for her as well, and take advantage of that $3000 tier bonus.

The reason I’m doing this convoluted transfer process is so that I can get a trail on my individual assets into the joint account, and into her Individual account.

I was considering doing a joint brokerage Wells trade account, but I just don’t want any headache to open. I’m thinking it would be much smoother and easier just to create everything individually for my wife. It’s too early for me to take advantage of this for Wells offer for myself.
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by mrken »

Once an E*TRADE bonus is credited, can the bonus and future dividends be transferred out without risking clawback?
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by nalor511 »

mrken wrote: Wed Jun 12, 2024 7:15 pm Once an E*TRADE bonus is credited, can the bonus and future dividends be transferred out without risking clawback?
Nothing in the terms to prevent this, but, I always keep it in to be safe. Sometimes terms aren't super clear, and I don't risk my bonuses. If I get a $1k bonus I'll use $950 to buy tbill, and transfer out $50. I don't transfer out $1k. Haven't had an issue
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