The Final, Definitive Thread on Brokerage Transfer Bonuses

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

Post by spammagnet »

pre wrote: Tue Aug 24, 2021 7:51 pm
sycamore wrote: Thu Aug 05, 2021 5:56 am ...What I did was call ETrade at the 800-ETRADE-1 phone number and ask about the https://us.etrade.com/promo/3500cfc-combined-summer link promo. They said to be sure to use the "Open an Account" button on that page, which I then did. After going through the steps to open an account, I got an email indicating I was enrolled in the promo. So far so good.
May I ask if your account was ultimately credited with the bonus?

My local rep said he didn't have access to either "summer" promo or the IRA-specific one, only the publicly available one, but he encouraged me to open the account and he'd verify it was coded properly for the elevated bonus tiers.

I'd like to give it a shot in the next few weeks.
I opened two E-Trade IRAs Sunday night (one for me, one for DW) using the cf3500 bonus link. I ran into some problems completing but I think they were technical web/browser problems not related to whether the offer is current, or restricted. A call to the number displayed in the error message resolved the issue and I was able to complete the application. The confirmation email I received is below.

I did not previously have an E-Trade account and don't know how it works for current customers.

Addendum: I got an email from the closest rep (Orlando) who referred to the possibility of an extra $500 bonus for each account. It sounds discretionary on his part. I replied tonight with a request for details but haven't gotten a reply yet.
======================================
Congratulations! You are now enrolled in the promotion below.

Here is how to get your cash credit:
• Deposit cash or securities from any external account into only one new account opened
• Get rewarded based on net new deposits made within 60 days (see tables and disclosures below)

Deposit Amount Cash Credit
$5,000 - $19,999 $100
$20,000 - $24,999 $150
$25,000 - $99,999 $200
$100,000 - $199,999 $500
$200,000 - $499,999 $1,000
$500,000 - $999,999 $1,800
$1,000,000 or more $3,500
sycamore
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by sycamore »

pre wrote: Tue Aug 24, 2021 7:51 pm
sycamore wrote: Thu Aug 05, 2021 5:56 am
gobel wrote: Wed Aug 04, 2021 10:18 pm
tj wrote: Wed Aug 04, 2021 9:50 pm
gobel wrote: Wed Aug 04, 2021 9:35 pm Maybe it's branch specific, or maybe I just have a bad rep. Here's a recent post of others' experiences: (2 got the 4k offer, 1 denied but got the 3.5k offer, yet I got neither) viewtopic.php?f=10&t=196884&p=5935799&h ... 0#p5935799
I bet if you signed up with the 3.5k link, you would have received the bonus.
Probably - you mean with no human intervention, right? But given that sfinsf got it thru a rep (who's probably also in the bay area), I kind of feel like my rep did me wrong. Also, this time the bonus is higher for new accounts vs existing, so even the excuse they gave him for denying the 4k is reversed, so it seems like they just make it up as they go.
Bummer about that. I wonder if the reps have much or any discretion to accept or decline; seems like they'd want to apply the policy consistently.

What I did was call ETrade at the 800-ETRADE-1 phone number and ask about the https://us.etrade.com/promo/3500cfc-combined-summer link promo. They said to be sure to use the "Open an Account" button on that page, which I then did. After going through the steps to open an account, I got an email indicating I was enrolled in the promo. So far so good.
May I ask if your account was ultimately credited with the bonus?

My local rep said he didn't have access to either "summer" promo or the IRA-specific one, only the publicly available one, but he encouraged me to open the account and he'd verify it was coded properly for the elevated bonus tiers.

I'd like to give it a shot in the next few weeks.
No bonus credited yet as I just started the process a few weeks ago. Not sure when it'll be paid but I assume it'll be after I hold the assets for six months. Some of the terms are (emphasis mine):

"New funds or securities must be deposited or transferred within 60 days of enrollment in an offer, be from accounts outside of E*TRADE, and remain in the account (minus any trading losses) for a minimum of six months or the cash credit(s) may be surrendered. For purposes of the value of a deposit, any securities transferred will be valued on the first business day following completion of the deposit. Removing any deposit or cash during the promotion period (60 days) may result in lower reward amount or loss of reward. E*TRADE Securities reserves the right to terminate these offers at any time."
dyangu
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by dyangu »

I finally decided to do the Interactive Brokers $1k bonus. I already have too many brokerage accounts from doing various bonuses, but it's such an easy $1k bonus, and I figured I might use some of IB's other benefits some day.
See https://www.doctorofcredit.com/interact ... a-1-bonus/ for details. Fingers crossed that IBRK stock doesn't crash within the next year.

I wonder how many brokerage accounts folks here have spread their assets across? I'm up to 6 now :(
spammagnet
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by spammagnet »

spammagnet wrote: Tue Aug 24, 2021 8:32 pm... Addendum: I got an email from the closest rep (Orlando) who referred to the possibility of an extra $500 bonus for each account. It sounds discretionary on his part. I replied tonight with a request for details but haven't gotten a reply yet. ...
The response from the rep was that an additional $500 was available for amounts > $500K, and that multiple accounts could be aggregated for that purpose.
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pre
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by pre »

spammagnet wrote: Wed Aug 25, 2021 9:36 pm
spammagnet wrote: Tue Aug 24, 2021 8:32 pm... Addendum: I got an email from the closest rep (Orlando) who referred to the possibility of an extra $500 bonus for each account. It sounds discretionary on his part. I replied tonight with a request for details but haven't gotten a reply yet. ...
The response from the rep was that an additional $500 was available for amounts > $500K, and that multiple accounts could be aggregated for that purpose.
Thanks for sharing the update. Not a bad deal. At the $500k tier, their summer offer appears to be for $1800, so an extra $500 is pretty significant

I'm glad you were able to proceed with opening the account directly from the offer link, without rep intervention. Your offer confirmation is good news. I received that the last time I opened an account earlier in the year, later leading to the bonus itself.
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pre
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by pre »

sycamore wrote: Wed Aug 25, 2021 3:54 am
pre wrote: Tue Aug 24, 2021 7:51 pm
sycamore wrote: Thu Aug 05, 2021 5:56 am
gobel wrote: Wed Aug 04, 2021 10:18 pm
tj wrote: Wed Aug 04, 2021 9:50 pm

I bet if you signed up with the 3.5k link, you would have received the bonus.
Probably - you mean with no human intervention, right? But given that sfinsf got it thru a rep (who's probably also in the bay area), I kind of feel like my rep did me wrong. Also, this time the bonus is higher for new accounts vs existing, so even the excuse they gave him for denying the 4k is reversed, so it seems like they just make it up as they go.
Bummer about that. I wonder if the reps have much or any discretion to accept or decline; seems like they'd want to apply the policy consistently.

What I did was call ETrade at the 800-ETRADE-1 phone number and ask about the https://us.etrade.com/promo/3500cfc-combined-summer link promo. They said to be sure to use the "Open an Account" button on that page, which I then did. After going through the steps to open an account, I got an email indicating I was enrolled in the promo. So far so good.
May I ask if your account was ultimately credited with the bonus?

My local rep said he didn't have access to either "summer" promo or the IRA-specific one, only the publicly available one, but he encouraged me to open the account and he'd verify it was coded properly for the elevated bonus tiers.

I'd like to give it a shot in the next few weeks.
No bonus credited yet as I just started the process a few weeks ago. Not sure when it'll be paid but I assume it'll be after I hold the assets for six months. Some of the terms are (emphasis mine):

"New funds or securities must be deposited or transferred within 60 days of enrollment in an offer, be from accounts outside of E*TRADE, and remain in the account (minus any trading losses) for a minimum of six months or the cash credit(s) may be surrendered. For purposes of the value of a deposit, any securities transferred will be valued on the first business day following completion of the deposit. Removing any deposit or cash during the promotion period (60 days) may result in lower reward amount or loss of reward. E*TRADE Securities reserves the right to terminate these offers at any time."
ETrade is actually pretty good about crediting bonuses -- once the transfer in completes, the bonus is usually credited within a week or so.

The 6 months is moreso to ensure folks don't transfer out too quickly, i.e. for claw back purposes.

Please keep us posted :)
sycamore
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by sycamore »

pre wrote: Wed Aug 25, 2021 9:55 pm ...
ETrade is actually pretty good about crediting bonuses -- once the transfer in completes, the bonus is usually credited within a week or so.

The 6 months is moreso to ensure folks don't transfer out too quickly, i.e. for claw back purposes.

Please keep us posted :)
Good to know, thanks!

I'll keep my eyes open for the bonus and post back when it shows up.
EnjoyIt
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by EnjoyIt »

Question about M1 finance:
I have two index funds (ETFs)I want to transfer to M1 finance in my taxable account. VTI and VXUS that are currently in about 60% and 40% respectively. They say I must specify them in my pie within 60 days or else they will sell them. How do I keep M1 from selling those shares as I don't want that to become a taxable event. If I put them in my pie at 60/40 will they sell shares as the pie fluctuates due to fluctuations of the market or does M1 try and keep my 60%/40% pie only with new contributions?
A time to EVALUATE your jitters: | viewtopic.php?p=1139732#p1139732
sc9182
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by sc9182 »

EnjoyIt wrote: Fri Aug 27, 2021 2:42 am Question about M1 finance:
I have two index funds (ETFs)I want to transfer to M1 finance in my taxable account. VTI and VXUS that are currently in about 60% and 40% respectively. They say I must specify them in my pie within 60 days or else they will sell them. How do I keep M1 from selling those shares as I don't want that to become a taxable event. If I put them in my pie at 60/40 will they sell shares as the pie fluctuates due to fluctuations of the market or does M1 try and keep my 60%/40% pie only with new contributions?
Forgot how we did it - we kept pie % close to our ETFs and allocation % ; also, we emailed their support NOT to rebalance the portfolio- even if it grows one way or the other.

Amy dividends (or new cash) which comes-in., will be invested based on your configured allocation (or you can disable it in Dashboard)
calwatch
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by calwatch »

dyangu wrote: Wed Aug 25, 2021 3:22 pm I finally decided to do the Interactive Brokers $1k bonus. I already have too many brokerage accounts from doing various bonuses, but it's such an easy $1k bonus, and I figured I might use some of IB's other benefits some day.
See https://www.doctorofcredit.com/interact ... a-1-bonus/ for details. Fingers crossed that IBRK stock doesn't crash within the next year.

I wonder how many brokerage accounts folks here have spread their assets across? I'm up to 6 now :(
I have IBKR for speculative (an account I only take money out of and don't replenish), Schwab for solo 401(k) and Personal Choice Retirement Account (457 self directed), Merrill on my Roth IRA for the Bank of America credit card bonus, TD Ameritrade for the bulk of my investments, Stockpile because of the recent deal that allowed you to buy stocks on a credit card (https://www.doctorofcredit.com/stockpil ... card-fees/), Fidelity to take advantage of a bonus although that is now mostly empty, Tastytrade (also opened for a bonus, and also mostly empty), and Chase YouInvest to keep my Sapphire Checking free. So that makes eight, of which six have more than a negligible amount of assets.

I closed accounts with Ally Invest (terrible interface), eTrade (when they bought Optionshouse), Vanguard (too basic), and Zecco (when they were bought by TradeKing). I am considering opening accounts with M1, TradeStation, and eTrade (again) but am waiting out my TD Ameritrade transfer bonus time, as well as seeing when TD and Schwab will integrate their web site and which one survives.

All of them except Tastytrade link to Mint so I can monitor their balances. All of them serve or served an individual purpose.
sc9182
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by sc9182 »

calwatch wrote: Fri Aug 27, 2021 5:52 pm I have IBKR for speculative (an account I only take money out of and don't replenish), Schwab for solo 401(k) and Personal Choice Retirement Account (457 self directed), Merrill on my Roth IRA for the Bank of America credit card bonus, TD Ameritrade for the bulk of my investments, Stockpile because of the recent deal that allowed you to buy stocks on a credit card (https://www.doctorofcredit.com/stockpil ... card-fees/), Fidelity to take advantage of a bonus although that is now mostly empty, Tastytrade (also opened for a bonus, and also mostly empty), and Chase YouInvest to keep my Sapphire Checking free. So that makes eight, of which six have more than a negligible amount of assets.

I closed accounts with Ally Invest (terrible interface), eTrade (when they bought Optionshouse), Vanguard (too basic), and Zecco (when they were bought by TradeKing). I am considering opening accounts with M1, TradeStation, and eTrade (again) but am waiting out my TD Ameritrade transfer bonus time, as well as seeing when TD and Schwab will integrate their web site and which one survives.

All of them except Tastytrade link to Mint so I can monitor their balances. All of them serve or served an individual purpose.
Not trying SoFi or Citi (not many positive experiences) !?
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whodidntante
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by whodidntante »

I accepted a Schwab offer today. $600 for adding 250k to my existing account. Not public, but I am nothing special so you will probably get it if you ask. This is not even close to the best offer available, but having done the best offers, this is the best offer left.
calwatch
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by calwatch »

sc9182 wrote: Fri Aug 27, 2021 8:21 pm Not trying SoFi or Citi (not many positive experiences) !?
SoFi seems on the low side which is why I haven't done them. https://www.sofi.com/acatoffer

I've held a bank account with Citi before and their interface is terrible. I have some credit cards but only use them for the bonuses and for my Costco membership. I regularly see (and am solicited in the mail) the $700 and $1500 bonuses for large sums, which include investment deposits, but am loathe to go back to them after my experience ten years ago.
EnjoyIt
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by EnjoyIt »

sc9182 wrote: Fri Aug 27, 2021 7:58 am
EnjoyIt wrote: Fri Aug 27, 2021 2:42 am Question about M1 finance:
I have two index funds (ETFs)I want to transfer to M1 finance in my taxable account. VTI and VXUS that are currently in about 60% and 40% respectively. They say I must specify them in my pie within 60 days or else they will sell them. How do I keep M1 from selling those shares as I don't want that to become a taxable event. If I put them in my pie at 60/40 will they sell shares as the pie fluctuates due to fluctuations of the market or does M1 try and keep my 60%/40% pie only with new contributions?
Forgot how we did it - we kept pie % close to our ETFs and allocation % ; also, we emailed their support NOT to rebalance the portfolio- even if it grows one way or the other.

Amy dividends (or new cash) which comes-in., will be invested based on your configured allocation (or you can disable it in Dashboard)
That’s basically my plan. Keep it close to what the current AA is and monitor closely hoping we don’t hit their rebalancing bands.

I would hate to turn this into a taxable event.
A time to EVALUATE your jitters: | viewtopic.php?p=1139732#p1139732
beastlybeast
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by beastlybeast »

Question for you all. I've had a Schwab checking/investing account for ages. I haven't really used it in a year or so, and the total balance was pretty low (<100k). I moved what I had there to Vanguard, and it's been close to 0 for several months.

I've got a windfall coming this year of several million dollars. I actually want to go back to Schwab after comparing them to my experience at Vanguard. The livechat experience of Schwab is unparalleled, IMO, and I value that a lot since I hate phone calls. But I'm wondering if I should play the transfer bonus game with them once the windfall is in hand.

Does it matter that I have a long-established Schwab account already?

If I ask, what kind of bonus can I expect?

Do I need to get a written bonus offer from another firm or two to have them match?
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jeffyscott
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by jeffyscott »

beastlybeast wrote: Sun Aug 29, 2021 10:40 am Question for you all. I've had a Schwab checking/investing account for ages. I haven't really used it in a year or so, and the total balance was pretty low (<100k). I moved what I had there to Vanguard, and it's been close to 0 for several months.

I've got a windfall coming this year of several million dollars. I actually want to go back to Schwab after comparing them to my experience at Vanguard. The livechat experience of Schwab is unparalleled, IMO, and I value that a lot since I hate phone calls. But I'm wondering if I should play the transfer bonus game with them once the windfall is in hand.

Does it matter that I have a long-established Schwab account already?

If I ask, what kind of bonus can I expect?

Do I need to get a written bonus offer from another firm or two to have them match?
We had a taxable brokerage account with $0 for a long time, they had required opening that to get the checking account but we never used it. We have had no problems getting them to match. We just looked for the best offer we could find online and emailed our local Schwab rep., but it was never such a large amount as you are talking about.
m0derton
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by m0derton »

EnjoyIt wrote: Sat Aug 28, 2021 8:17 pm
sc9182 wrote: Fri Aug 27, 2021 7:58 am
EnjoyIt wrote: Fri Aug 27, 2021 2:42 am Question about M1 finance:
I have two index funds (ETFs)I want to transfer to M1 finance in my taxable account. VTI and VXUS that are currently in about 60% and 40% respectively. They say I must specify them in my pie within 60 days or else they will sell them. How do I keep M1 from selling those shares as I don't want that to become a taxable event. If I put them in my pie at 60/40 will they sell shares as the pie fluctuates due to fluctuations of the market or does M1 try and keep my 60%/40% pie only with new contributions?
Forgot how we did it - we kept pie % close to our ETFs and allocation % ; also, we emailed their support NOT to rebalance the portfolio- even if it grows one way or the other.

Amy dividends (or new cash) which comes-in., will be invested based on your configured allocation (or you can disable it in Dashboard)
That’s basically my plan. Keep it close to what the current AA is and monitor closely hoping we don’t hit their rebalancing bands.

I would hate to turn this into a taxable event.
That's not how M1 Finance works. There are no rebalancing bands. If you aren't using the borrow feature, the only ways to create a taxable event are for you to click the "rebalance" button yourself, delete a holding completely from a pie, or put in a sell order. If you are using the borrow feature, then M1 Finance could cause a taxable event if they are forced to do a margin call on your account.

When you invest new money into a pie (either automatically or manually), the algorithm will break it down into amounts that bring the entire pie closer to its target allocations. If you want to prevent this from happening, then you need to put in buy orders for each individual holding of the pie you wish to purchase.
nalor511
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by nalor511 »

beastlybeast wrote: Sun Aug 29, 2021 10:40 am Question for you all. I've had a Schwab checking/investing account for ages. I haven't really used it in a year or so, and the total balance was pretty low (<100k). I moved what I had there to Vanguard, and it's been close to 0 for several months.

I've got a windfall coming this year of several million dollars. I actually want to go back to Schwab after comparing them to my experience at Vanguard. The livechat experience of Schwab is unparalleled, IMO, and I value that a lot since I hate phone calls. But I'm wondering if I should play the transfer bonus game with them once the windfall is in hand.

Does it matter that I have a long-established Schwab account already?

If I ask, what kind of bonus can I expect?

Do I need to get a written bonus offer from another firm or two to have them match?
re: established account, not an issue

re: bonus, whatever the best competitor offer you can find

re: written offer, it definitely helps, but depends on how crazy the offer you find is. they matched one of them easily (they knew about it) but some of the additional offer legs beyond the bonus, they did want something in writing to match
EnjoyIt
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by EnjoyIt »

m0derton wrote: Sun Aug 29, 2021 1:00 pm
EnjoyIt wrote: Sat Aug 28, 2021 8:17 pm
sc9182 wrote: Fri Aug 27, 2021 7:58 am
EnjoyIt wrote: Fri Aug 27, 2021 2:42 am Question about M1 finance:
I have two index funds (ETFs)I want to transfer to M1 finance in my taxable account. VTI and VXUS that are currently in about 60% and 40% respectively. They say I must specify them in my pie within 60 days or else they will sell them. How do I keep M1 from selling those shares as I don't want that to become a taxable event. If I put them in my pie at 60/40 will they sell shares as the pie fluctuates due to fluctuations of the market or does M1 try and keep my 60%/40% pie only with new contributions?
Forgot how we did it - we kept pie % close to our ETFs and allocation % ; also, we emailed their support NOT to rebalance the portfolio- even if it grows one way or the other.

Amy dividends (or new cash) which comes-in., will be invested based on your configured allocation (or you can disable it in Dashboard)
That’s basically my plan. Keep it close to what the current AA is and monitor closely hoping we don’t hit their rebalancing bands.

I would hate to turn this into a taxable event.
That's not how M1 Finance works. There are no rebalancing bands. If you aren't using the borrow feature, the only ways to create a taxable event are for you to click the "rebalance" button yourself, delete a holding completely from a pie, or put in a sell order. If you are using the borrow feature, then M1 Finance could cause a taxable event if they are forced to do a margin call on your account.

When you invest new money into a pie (either automatically or manually), the algorithm will break it down into amounts that bring the entire pie closer to its target allocations. If you want to prevent this from happening, then you need to put in buy orders for each individual holding of the pie you wish to purchase.
Thanks for the response. Just to confirm, they will not be rebalancing for me no matter how out of wack my pie is. Correct?
A time to EVALUATE your jitters: | viewtopic.php?p=1139732#p1139732
drekin
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by drekin »

I just applied for the ebay offer cf3500 but did not get a confirmation email of the promo (just email stating "Your E*TRADE brokerage account is now open").

When I applied I logged in with my existing ebay credentials and opened a new account. Anyone know if the promo confirmation comes later?

Anyone also try signing up for this with multiple accounts (E.g. individual brokerage and Roth?)
Last edited by drekin on Mon Aug 30, 2021 5:55 pm, edited 1 time in total.
sycamore
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by sycamore »

drekin wrote: Mon Aug 30, 2021 11:19 am I just applied for the ebay offer cf3500 but did not get a confirmation email of the promo (just email stating "Your E*TRADE brokerage account is now open").

When I applied I logged in with my existing email credentials and opened a new account. Anyone know if the promo confirmation comes later?

Anyone also try signing up for this with multiple accounts (E.g. individual brokerage and Roth?)
For me, the "Your New IRA Is Now Open" and "Promotion Enrollment Confirmation" emails showed up on the same day.

I opened both a Trad and Roth IRA (I need both combined assets to meet a bonus level).

Suggest calling ETrade to make sure you get the promo applied.
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GeraniumLover
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by GeraniumLover »

sycamore wrote: Mon Aug 30, 2021 12:11 pm
drekin wrote: Mon Aug 30, 2021 11:19 am I just applied for the ebay offer cf3500 but did not get a confirmation email of the promo (just email stating "Your E*TRADE brokerage account is now open").

When I applied I logged in with my existing email credentials and opened a new account. Anyone know if the promo confirmation comes later?

Anyone also try signing up for this with multiple accounts (E.g. individual brokerage and Roth?)
For me, the "Your New IRA Is Now Open" and "Promotion Enrollment Confirmation" emails showed up on the same day.

I opened both a Trad and Roth IRA (I need both combined assets to meet a bonus level).

Suggest calling ETrade to make sure you get the promo applied.
Per my rep's suggestion, I opened the new account this morning by clicking on the button on the offer page. I too got the account open email but not the promotion enrollment confirmation email. My rep checked and said that the new account is coded properly and that it would take overnight for me to get the confrmation email.
drekin
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by drekin »

GeraniumLover wrote: Mon Aug 30, 2021 1:10 pm
sycamore wrote: Mon Aug 30, 2021 12:11 pm
drekin wrote: Mon Aug 30, 2021 11:19 am I just applied for the ebay offer cf3500 but did not get a confirmation email of the promo (just email stating "Your E*TRADE brokerage account is now open").

When I applied I logged in with my existing email credentials and opened a new account. Anyone know if the promo confirmation comes later?

Anyone also try signing up for this with multiple accounts (E.g. individual brokerage and Roth?)
For me, the "Your New IRA Is Now Open" and "Promotion Enrollment Confirmation" emails showed up on the same day.

I opened both a Trad and Roth IRA (I need both combined assets to meet a bonus level).

Suggest calling ETrade to make sure you get the promo applied.
Per my rep's suggestion, I opened the new account this morning by clicking on the button on the offer page. I too got the account open email but not the promotion enrollment confirmation email. My rep checked and said that the new account is coded properly and that it would take overnight for me to get the confrmation email.
Thanks, I'll wait until tomorrow noon to double check. The promo does says one per customer, but my experience with these from other banks is you could get another one for accounts across different classes (e.g., taxable vs. retirement). Anyone tried this?

sycamore, how do you know your traditional and roth will combine for the promo?
drzzzzz
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by drzzzzz »

Thanks to everyone who posted about etrade summer promotion. Our local schwab office is matching the promotion offer for us to set up new accounts there.
Barefootgirl
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Barefootgirl »

Etrade: It's a good one...just noticed it ends today....oh well.
How many retired people does it take to screw in a lightbulb? Only one, but he takes all day.
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GeraniumLover
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by GeraniumLover »

Barefootgirl wrote: Tue Aug 31, 2021 10:56 am Etrade: It's a good one...just noticed it ends today....oh well.
You just need to open an account or enroll by today; you have 60 days to complete the funding.
sycamore
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by sycamore »

drekin wrote: Mon Aug 30, 2021 5:57 pm sycamore, how do you know your traditional and roth will combine for the promo?
I reached out to a customer rep (phone call) to confirm it would work that way.
Mike14
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Mike14 »

GeraniumLover wrote: Mon Aug 30, 2021 1:10 pm Per my rep's suggestion, I opened the new account this morning by clicking on the button on the offer page. I too got the account open email but not the promotion enrollment confirmation email. My rep checked and said that the new account is coded properly and that it would take overnight for me to get the confrmation email.
drekin wrote: Mon Aug 30, 2021 11:19 am I just applied for the ebay offer cf3500 but did not get a confirmation email of the promo (just email stating "Your E*TRADE brokerage account is now open").

When I applied I logged in with my existing ebay credentials and opened a new account. Anyone know if the promo confirmation comes later?

Anyone also try signing up for this with multiple accounts (E.g. individual brokerage and Roth?)
Did any of you end up getting the promotion email confirmation?
spammagnet
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by spammagnet »

sycamore wrote: Tue Aug 31, 2021 2:20 pm
drekin wrote: Mon Aug 30, 2021 5:57 pmsycamore, how do you know your traditional and roth will combine for the promo?
I reached out to a customer rep (phone call) to confirm it would work that way.
In a personal email from a customer rep, I was told the same.
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GeraniumLover
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by GeraniumLover »

Mike14 wrote: Tue Aug 31, 2021 2:58 pm
GeraniumLover wrote: Mon Aug 30, 2021 1:10 pm Per my rep's suggestion, I opened the new account this morning by clicking on the button on the offer page. I too got the account open email but not the promotion enrollment confirmation email. My rep checked and said that the new account is coded properly and that it would take overnight for me to get the confrmation email.
drekin wrote: Mon Aug 30, 2021 11:19 am I just applied for the ebay offer cf3500 but did not get a confirmation email of the promo (just email stating "Your E*TRADE brokerage account is now open").

When I applied I logged in with my existing ebay credentials and opened a new account. Anyone know if the promo confirmation comes later?

Anyone also try signing up for this with multiple accounts (E.g. individual brokerage and Roth?)
Did any of you end up getting the promotion email confirmation?
I did not. My rep said that they are likely just backed up. She sent me the work order showing the enrollment and promised to make me whole if for any reason I end up not being enrolled.
zhuyz05
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by zhuyz05 »

GeraniumLover wrote: Tue Aug 31, 2021 12:20 pm
Barefootgirl wrote: Tue Aug 31, 2021 10:56 am Etrade: It's a good one...just noticed it ends today....oh well.
You just need to open an account or enroll by today; you have 60 days to complete the funding.
Even if the account may be not be approved until tomorrow?
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pre
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by pre »

zhuyz05 wrote: Tue Aug 31, 2021 7:28 pm
GeraniumLover wrote: Tue Aug 31, 2021 12:20 pm
Barefootgirl wrote: Tue Aug 31, 2021 10:56 am Etrade: It's a good one...just noticed it ends today....oh well.
You just need to open an account or enroll by today; you have 60 days to complete the funding.
Even if the account may be not be approved until tomorrow?
If you're opening a new account, I'd recommend temporarily unfreezing any frozen credit reports. Identity verification tends to be the biggest hiccup. I experienced this with Etrade a few years ago and had to make a few extra phone calls to clear myself.

I'd also apply ASAP -- Etrade has ended offers prematurely in the past, including offers earlier this year
zhuyz05
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by zhuyz05 »

pre wrote: Tue Aug 31, 2021 7:32 pm
zhuyz05 wrote: Tue Aug 31, 2021 7:28 pm
GeraniumLover wrote: Tue Aug 31, 2021 12:20 pm
Barefootgirl wrote: Tue Aug 31, 2021 10:56 am Etrade: It's a good one...just noticed it ends today....oh well.
You just need to open an account or enroll by today; you have 60 days to complete the funding.
Even if the account may be not be approved until tomorrow?
If you're opening a new account, I'd recommend temporarily unfreezing any frozen credit reports. Identity verification tends to be the biggest hiccup. I experienced this with Etrade a few years ago and had to make a few extra phone calls to clear myself.

I'd also apply ASAP -- Etrade has ended offers prematurely in the past, including offers earlier this year
Thanks for the info. Just applied. Did not get immediate approval and it says application is pending...
m0derton
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by m0derton »

EnjoyIt wrote: Sun Aug 29, 2021 8:58 pm
m0derton wrote: Sun Aug 29, 2021 1:00 pm That's not how M1 Finance works. There are no rebalancing bands. If you aren't using the borrow feature, the only ways to create a taxable event are for you to click the "rebalance" button yourself, delete a holding completely from a pie, or put in a sell order. If you are using the borrow feature, then M1 Finance could cause a taxable event if they are forced to do a margin call on your account.

When you invest new money into a pie (either automatically or manually), the algorithm will break it down into amounts that bring the entire pie closer to its target allocations. If you want to prevent this from happening, then you need to put in buy orders for each individual holding of the pie you wish to purchase.
Thanks for the response. Just to confirm, they will not be rebalancing for me no matter how out of wack my pie is. Correct?
Correct. The only thing that will happen is the pictograph of your pies will look a little funky the more out of wack your holdings are from your target.
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Leif
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Leif »

sc9182 wrote: Tue Jul 27, 2021 5:40 pm Now waiting to hear from Fidelity - whether they are willing to offer $3k bonus on $1MM - mostly they require 1 year asset retention period. Guess - we will make do with bonus, with 1.25% margin rate .. (use wisely!!)
What did you find out?
sc9182
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by sc9182 »

Leif wrote: Sat Sep 04, 2021 12:18 pm
sc9182 wrote: Tue Jul 27, 2021 5:40 pm Now waiting to hear from Fidelity - whether they are willing to offer $3k bonus on $1MM - mostly they require 1 year asset retention period. Guess - we will make do with bonus, with 1.25% margin rate .. (use wisely!!)
What did you find out?
That they only offered $1k instead of $3k. No GO for us.

Regarding Margin, updated here: viewtopic.php?p=6205645#p6205645
wineandplaya
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by wineandplaya »

Does anyone know if you can get the Schwab transfer bonus if you already have an employer sponsored plan with Schwab? More specifically, a 457(b) PCRA Trust. The bonus details appears to exempt "Stock Plan Services accounts", whatever that is:
Offer valid for referred individuals who do not currently have a Charles Schwab & Co., Inc. ("Schwab") account (other than a Stock Plan Services account) and who open and make a qualifying net deposit into an eligible retail brokerage account within 45 days of enrolling in the offer.
https://www.schwab.com/referral
PSTAR7
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by PSTAR7 »

Schwab offered me $1,300 on a $500k transfer. I did an online chat and they responded with a call 3 days later.
nalor511
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by nalor511 »

PSTAR7 wrote: Sat Sep 04, 2021 7:04 pm Schwab offered me $1,300 on a $500k transfer. I did an online chat and they responded with a call 3 days later.
You can get more, they will match any higher offer you find
nalor511
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by nalor511 »

sc9182 wrote: Sat Sep 04, 2021 1:00 pm
Leif wrote: Sat Sep 04, 2021 12:18 pm
sc9182 wrote: Tue Jul 27, 2021 5:40 pm Now waiting to hear from Fidelity - whether they are willing to offer $3k bonus on $1MM - mostly they require 1 year asset retention period. Guess - we will make do with bonus, with 1.25% margin rate .. (use wisely!!)
What did you find out?
That they only offered $1k instead of $3k. No GO for us.

Regarding Margin, updated here: viewtopic.php?p=6205645#p6205645
Did you get a dedicated advisor at Fido? They did not match the $3500 offer as I had asked, but they did do significantly better than you found
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pre
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by pre »

zhuyz05 wrote: Tue Aug 31, 2021 7:38 pm
pre wrote: Tue Aug 31, 2021 7:32 pm If you're opening a new account, I'd recommend temporarily unfreezing any frozen credit reports. Identity verification tends to be the biggest hiccup. I experienced this with Etrade a few years ago and had to make a few extra phone calls to clear myself.

I'd also apply ASAP -- Etrade has ended offers prematurely in the past, including offers earlier this year
Thanks for the info. Just applied. Did not get immediate approval and it says application is pending...
Curious if things turned out alright with the account opening and qualifying for the promotion?

Cheers
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sarabayo
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by sarabayo »

I'm doing a transfer of ETF positions for the first time and I was surprised to learn that due to the way fractional shares work, the number of shares you hold of any particular stock or ETF will be rounded down to the nearest integer and the remainder will be automatically sold off for cash before the ETFs are transferred. I know people in this thread are always sending ETFs from one brokerage to another - doesn't this auto-selling bother you? It'll change your cost basis info etc. which might cause headaches if they screw it up, no...?
sc9182
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by sc9182 »

We’ve seen this (fractional shares getting stuck/sold) happen couple of times (not sure always, but definitely remember that it has occurred). Having said that - we don’t have automatic dividend re-investing turned on so the fractional shares is a minimal issue. (We sure don’t have BRK-A fractional share - so we are not taking big monies/hit here). Tax time filing is definitely extra work involved on these smallish sales :-(
nalor511
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by nalor511 »

sarabayo wrote: Tue Sep 07, 2021 12:45 pm I'm doing a transfer of ETF positions for the first time and I was surprised to learn that due to the way fractional shares work, the number of shares you hold of any particular stock or ETF will be rounded down to the nearest integer and the remainder will be automatically sold off for cash before the ETFs are transferred. I know people in this thread are always sending ETFs from one brokerage to another - doesn't this auto-selling bother you? It'll change your cost basis info etc. which might cause headaches if they screw it up, no...?
It bothers me. Nothing I can do about it. The cash always follows the shares after a week or so. No biggie.
sycamore
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by sycamore »

sarabayo wrote: Tue Sep 07, 2021 12:45 pm I'm doing a transfer of ETF positions for the first time and I was surprised to learn that due to the way fractional shares work, the number of shares you hold of any particular stock or ETF will be rounded down to the nearest integer and the remainder will be automatically sold off for cash before the ETFs are transferred. I know people in this thread are always sending ETFs from one brokerage to another - doesn't this auto-selling bother you? It'll change your cost basis info etc. which might cause headaches if they screw it up, no...?
It does not bother me. Maybe I'm just used to it after a dozen or more transfers over 25+ years. Most were in tax-deferred accounts where cost basis issues don't come up. For the handful of taxable account transfers, ACATS has worked fine as expected -- no screw ups.

Why do you say it'll change your cost basis? Share lots will have their same $/share cost basis before and after the transfer, so you can easily determine the remaining cost basis of any lot after any fractional share liquidation.

In my most recent transfer of a Trad IRA, my whole & fractional mutual fund shares were transferred, no auto-selling. I guess that's a point in favor of mutual funds :-)
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sarabayo
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by sarabayo »

sycamore wrote: Tue Sep 07, 2021 2:22 pm Why do you say it'll change your cost basis? Share lots will have their same $/share cost basis before and after the transfer, so you can easily determine the remaining cost basis of any lot after any fractional share liquidation.
Any change to the tax lots introduces the chance for error on the part of the brokerage - it's happened to me before with mutual funds. I mean, I can certainly calculate the correct cost basis information, but then I'll have to convince the brokerage to fix it in their systems, which could take who knows how long.

Well, maybe the fact that ETFs and stocks are only transferred in integer numbers of shares actually makes errors less likely... who knows?
sycamore
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by sycamore »

sarabayo wrote: Tue Sep 07, 2021 2:37 pm
sycamore wrote: Tue Sep 07, 2021 2:22 pm Why do you say it'll change your cost basis? Share lots will have their same $/share cost basis before and after the transfer, so you can easily determine the remaining cost basis of any lot after any fractional share liquidation.
Any change to the tax lots introduces the chance for error on the part of the brokerage - it's happened to me before with mutual funds. I mean, I can certainly calculate the correct cost basis information, but then I'll have to convince the brokerage to fix it in their systems, which could take who knows how long.

Well, maybe the fact that ETFs and stocks are only transferred in integer numbers of shares actually makes errors less likely... who knows?
There's certainly a chance your cost basis could get messed up at various steps along the transfer, but I guess I don't see the fractional share liquidation step being so problematic that it will drastically increase the odds of an error. My two cents: it doesn't seem to be a very common problem, at least not on Bogleheads (not that I check every post :) )
placeholder
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by placeholder »

It doesn't bother me because I never did automatic reinvesting so I only own whole shares.
zhuyz05
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by zhuyz05 »

pre wrote: Sat Sep 04, 2021 9:54 pm
zhuyz05 wrote: Tue Aug 31, 2021 7:38 pm
pre wrote: Tue Aug 31, 2021 7:32 pm If you're opening a new account, I'd recommend temporarily unfreezing any frozen credit reports. Identity verification tends to be the biggest hiccup. I experienced this with Etrade a few years ago and had to make a few extra phone calls to clear myself.

I'd also apply ASAP -- Etrade has ended offers prematurely in the past, including offers earlier this year
Thanks for the info. Just applied. Did not get immediate approval and it says application is pending...
Curious if things turned out alright with the account opening and qualifying for the promotion?

Cheers
I sent a message and E*TRADE said the offer is still good.
itsmeagain
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by itsmeagain »

I took advantage of one of the E-Trade offers discussed up thread. Everything went very smoothly. I moved two ETFs from Vanguard to E-Trade in a series of partial transfers, to see how things would go before committing more. The cost basis transferred accurately within a few days for each lot. The first cash bonus showed up a few days after my transfers crossed one threshold, and a second bonus showed up just one day after a transfer took my account to another level. As a further test, I sent questions via the E-Trade message system about the cost basis information and bonuses (essentially asking when the data and dollars would appear), and they were both answered accurately within a day or two. The E-Trade website is also very good, with lots of information that is clearly laid out.

I'm also plannning to give Schwab a spin.
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