The Final, Definitive Thread on Brokerage Transfer Bonuses

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

Post by stay_the_course »

whodidntante wrote: Sun Oct 24, 2021 1:37 pm I aware y'all of this fantastic bonus offer from Tastyworks.
https://info.tastyworks.com/opennow

$500 for 10k transfer. It won't be getting better than that, kids. The T&C reads to me that it needs to be a cash deposit. Curious if ACATS will work.

Tastyworks markets to people who like to trade derivatives, exploit portfolio margin, etc., but that's just marketing. You can park your VTI there just fine.

Happy hunting!
Does this have to be the initial funding amount? i.e. I need to have the cash ready to transfer immediately opening the account?
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jeffyscott
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by jeffyscott »

stay_the_course wrote: Sun Oct 24, 2021 3:09 pm
whodidntante wrote: Sun Oct 24, 2021 1:37 pm I aware y'all of this fantastic bonus offer from Tastyworks.
https://info.tastyworks.com/opennow

$500 for 10k transfer. It won't be getting better than that, kids. The T&C reads to me that it needs to be a cash deposit. Curious if ACATS will work.

Tastyworks markets to people who like to trade derivatives, exploit portfolio margin, etc., but that's just marketing. You can park your VTI there just fine.

Happy hunting!
Does this have to be the initial funding amount? i.e. I need to have the cash ready to transfer immediately opening the account?
The terms say you have until the end of the year: The Promotion offer is valid on new eligible tastyworks brokerage accounts opened during the Promotional Period and funded with $10,000.00 USD by 11:59pm CST on 12/31/21 (a “Qualified Account”). IRA and Trust accounts are not eligible for the Promotion.
wineandplaya
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by wineandplaya »

Did anyone try to refer a spouse for IBKR? Is it correctly understood that you get the max $1000 signup bonus but not the $200 referral bonus?
Referral fees will not be paid for accounts within the same household as the referrer.
https://www.interactivebrokers.com/en/index.php?f=45764
MrJedi
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by MrJedi »

Tasty works has a $75 ACATS out transfer fee...boo. I'm still considering it but that's a turn off.
student
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by student »

MrJedi wrote: Sun Oct 24, 2021 9:37 pm Tasty works has a $75 ACATS out transfer fee...boo. I'm still considering it but that's a turn off.
I saw that. My plan is to keep the money in cash that I will normally put in a high yield saving account. So 0.5%. So $12.50 interest is lost over 3 months.
MrJedi
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by MrJedi »

I play the rewards checking games with my cash allocation to get 3%, so that would be $75 in lost interest for me anyway, so a wash. Though I guess it's less taxable income vs. paying a fee, so slightly better going with the cash route even if getting 3%.
student
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by student »

MrJedi wrote: Sun Oct 24, 2021 9:54 pm I play the rewards checking games with my cash allocation to get 3%, so that would be $75 in lost interest for me anyway, so a wash. Though I guess it's less taxable income vs. paying a fee, so slightly better going with the cash route even if getting 3%.
I see. You are too efficient. lol. Squeezing the last drop of money. Do you work for the IRS?
mary1492
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by mary1492 »

xyzzy
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MrJedi
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by MrJedi »

mary1492 wrote: Mon Oct 25, 2021 4:38 am
MrJedi wrote: Sun Oct 24, 2021 9:37 pm Tasty works has a $75 ACATS out transfer fee...boo. I'm still considering it but that's a turn off.
So don't close the account by ACATS out to another brokerage. Just have everything in cash when you're ready to close, and then ACH it out, which has no fees. I only noticed an account closure fee for IRA, didn't see one for regular account.
I wanted to just transfer in some ETFs in kind and transfer out later so that I didn't have to deal with dead cash, but with the fee it probably makes more sense to just have some dead cash sitting for a few months.
mary1492
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by mary1492 »

xyzzy
Last edited by mary1492 on Wed Oct 05, 2022 1:28 pm, edited 1 time in total.
MrJedi
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by MrJedi »

mary1492 wrote: Mon Oct 25, 2021 5:43 am
MrJedi wrote: Mon Oct 25, 2021 5:25 am
mary1492 wrote: Mon Oct 25, 2021 4:38 am
MrJedi wrote: Sun Oct 24, 2021 9:37 pm Tasty works has a $75 ACATS out transfer fee...boo. I'm still considering it but that's a turn off.
So don't close the account by ACATS out to another brokerage. Just have everything in cash when you're ready to close, and then ACH it out, which has no fees. I only noticed an account closure fee for IRA, didn't see one for regular account.
I wanted to just transfer in some ETFs in kind and transfer out later so that I didn't have to deal with dead cash, but with the fee it probably makes more sense to just have some dead cash sitting for a few months.
It doesn't have to sit as dead money. You could have it in ETF the entire time. Sell just prior to ACH'ing out...just the 2 days for settlement.

However, terms indicate that it must come in as $10,000 USD - I do not believe transferring in securities will suffice, but you could check with them if that is what you really want to do.

Bottom line, to make it easy and meet the terms of the offer - transfer cash in, buy your ETFs, sell later, ACH cash out.
I considered that too but didn't feel like fussing around with shifting around AA and also tax ramifications if I end up with a capital gain that I could have left deferred in my main taxable account. I will probably just move it in as cash and leave it as cash.

I had similar concerns about the wording too...it is not clear to me if transferring securities would satisfy the funding requirement or not.
Paranoid_A
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Paranoid_A »

Hi! I can see the information about IBKR lower margin rate promo from stockbrokers.com referral. As I understand I will get 1.08% on IBKR Pro account instead of 1.58%. But how long will I have this lower rate?
MrJedi
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by MrJedi »

I went ahead and signed up for the tastyworks promo. $500 for parking $10k for 3 months is a pretty good. Usually an equivalent savings account bank bonus would be $50k parked for 3 months. I normally don't go for those types of bonuses that involve parking money but this is juicy enough for me to bite.
student
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by student »

MrJedi wrote: Mon Oct 25, 2021 7:43 pm I went ahead and signed up for the tastyworks promo. $500 for parking $10k for 3 months is a pretty good. Usually an equivalent savings account bank bonus would be $50k parked for 3 months. I normally don't go for those types of bonuses that involve parking money but this is juicy enough for me to bite.
Do you have to upload a copy of your driver license? I read that they asked for a trusted contact. Do you have to put anyone there?
MrJedi
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by MrJedi »

student wrote: Mon Oct 25, 2021 7:50 pm
MrJedi wrote: Mon Oct 25, 2021 7:43 pm I went ahead and signed up for the tastyworks promo. $500 for parking $10k for 3 months is a pretty good. Usually an equivalent savings account bank bonus would be $50k parked for 3 months. I normally don't go for those types of bonuses that involve parking money but this is juicy enough for me to bite.
Do you have to upload a copy of your driver license? I read that they asked for a trusted contact. Do you have to put anyone there?
It doesn't seem like they do instant approvals. My application is under review. I did not have to upload any documents so far. There is a trusted contact directly in the application with required fields for name, address, email and phone.
mary1492
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by mary1492 »

xyzzy
Last edited by mary1492 on Wed Oct 05, 2022 1:28 pm, edited 1 time in total.
nalor511
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by nalor511 »

MrJedi wrote: Mon Oct 25, 2021 7:56 pm
student wrote: Mon Oct 25, 2021 7:50 pm
MrJedi wrote: Mon Oct 25, 2021 7:43 pm I went ahead and signed up for the tastyworks promo. $500 for parking $10k for 3 months is a pretty good. Usually an equivalent savings account bank bonus would be $50k parked for 3 months. I normally don't go for those types of bonuses that involve parking money but this is juicy enough for me to bite.
Do you have to upload a copy of your driver license? I read that they asked for a trusted contact. Do you have to put anyone there?
It doesn't seem like they do instant approvals. My application is under review. I did not have to upload any documents so far. There is a trusted contact directly in the application with required fields for name, address, email and phone.
Was there a hard (or any) credit pull? Mines frozen
student
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by student »

MrJedi wrote: Mon Oct 25, 2021 7:56 pm
student wrote: Mon Oct 25, 2021 7:50 pm
MrJedi wrote: Mon Oct 25, 2021 7:43 pm I went ahead and signed up for the tastyworks promo. $500 for parking $10k for 3 months is a pretty good. Usually an equivalent savings account bank bonus would be $50k parked for 3 months. I normally don't go for those types of bonuses that involve parking money but this is juicy enough for me to bite.
Do you have to upload a copy of your driver license? I read that they asked for a trusted contact. Do you have to put anyone there?
It doesn't seem like they do instant approvals. My application is under review. I did not have to upload any documents so far. There is a trusted contact directly in the application with required fields for name, address, email and phone.
Did you put someone else or your own name? I saw on youtube that someone said just put your own name.
MrJedi
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by MrJedi »

nalor511 wrote: Mon Oct 25, 2021 8:55 pm
MrJedi wrote: Mon Oct 25, 2021 7:56 pm
student wrote: Mon Oct 25, 2021 7:50 pm
MrJedi wrote: Mon Oct 25, 2021 7:43 pm I went ahead and signed up for the tastyworks promo. $500 for parking $10k for 3 months is a pretty good. Usually an equivalent savings account bank bonus would be $50k parked for 3 months. I normally don't go for those types of bonuses that involve parking money but this is juicy enough for me to bite.
Do you have to upload a copy of your driver license? I read that they asked for a trusted contact. Do you have to put anyone there?
It doesn't seem like they do instant approvals. My application is under review. I did not have to upload any documents so far. There is a trusted contact directly in the application with required fields for name, address, email and phone.
Was there a hard (or any) credit pull? Mines frozen
No hard pull. Probably a soft pull as there was some of the ID verification questions like who was the loan provider on this closed loan from 10 years ago.
MrJedi
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by MrJedi »

student wrote: Mon Oct 25, 2021 8:56 pm
MrJedi wrote: Mon Oct 25, 2021 7:56 pm
student wrote: Mon Oct 25, 2021 7:50 pm
MrJedi wrote: Mon Oct 25, 2021 7:43 pm I went ahead and signed up for the tastyworks promo. $500 for parking $10k for 3 months is a pretty good. Usually an equivalent savings account bank bonus would be $50k parked for 3 months. I normally don't go for those types of bonuses that involve parking money but this is juicy enough for me to bite.
Do you have to upload a copy of your driver license? I read that they asked for a trusted contact. Do you have to put anyone there?
It doesn't seem like they do instant approvals. My application is under review. I did not have to upload any documents so far. There is a trusted contact directly in the application with required fields for name, address, email and phone.
Did you put someone else or your own name? I saw on youtube that someone said just put your own name.
I just put my spouse.

At least on initial submission there was no notification to her.
student
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by student »

MrJedi wrote: Mon Oct 25, 2021 8:58 pm
student wrote: Mon Oct 25, 2021 8:56 pm
MrJedi wrote: Mon Oct 25, 2021 7:56 pm
student wrote: Mon Oct 25, 2021 7:50 pm
MrJedi wrote: Mon Oct 25, 2021 7:43 pm I went ahead and signed up for the tastyworks promo. $500 for parking $10k for 3 months is a pretty good. Usually an equivalent savings account bank bonus would be $50k parked for 3 months. I normally don't go for those types of bonuses that involve parking money but this is juicy enough for me to bite.
Do you have to upload a copy of your driver license? I read that they asked for a trusted contact. Do you have to put anyone there?
It doesn't seem like they do instant approvals. My application is under review. I did not have to upload any documents so far. There is a trusted contact directly in the application with required fields for name, address, email and phone.
Did you put someone else or your own name? I saw on youtube that someone said just put your own name.
I just put my spouse.

At least on initial submission there was no notification to her.
Thanks.
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whodidntante
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by whodidntante »

Paranoid_A wrote: Mon Oct 25, 2021 4:15 pm Hi! I can see the information about IBKR lower margin rate promo from stockbrokers.com referral. As I understand I will get 1.08% on IBKR Pro account instead of 1.58%. But how long will I have this lower rate?
You'll be at Tier II margin rates for the life of the account, as I understand that promo.
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whodidntante
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by whodidntante »

MrJedi wrote: Sun Oct 24, 2021 9:37 pm Tasty works has a $75 ACATS out transfer fee...boo. I'm still considering it but that's a turn off.
Just get the next sucker destination broker to rebate that fee to you. :twisted:
kxl19
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by kxl19 »

stilllurking wrote: Thu Oct 21, 2021 7:04 pm Has anyone recently taken advantage of an Ally Invest bonus?

Thinking of moving $500k. Any catches besides the 300 day hold?
We did this last year. Had a extremely poor experience. screwed up the cost basis in our Fidelity 500 fund to average cost (was specific ID in Fido) and couldnt' change it back. Setting specific lots was extremely difficult (have to ask for change of interface, and could submit cost basis only after transaction was made), and they also screwed up the 1099-DIV form.

I don't recommend it. WE left as soon as the bonus matured.
calwatch
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by calwatch »

kxl19 wrote: Mon Oct 25, 2021 9:19 pm
stilllurking wrote: Thu Oct 21, 2021 7:04 pm Has anyone recently taken advantage of an Ally Invest bonus?

Thinking of moving $500k. Any catches besides the 300 day hold?
We did this last year. Had a extremely poor experience. screwed up the cost basis in our Fidelity 500 fund to average cost (was specific ID in Fido) and couldnt' change it back. Setting specific lots was extremely difficult (have to ask for change of interface, and could submit cost basis only after transaction was made), and they also screwed up the 1099-DIV form.

I don't recommend it. WE left as soon as the bonus matured.

Same... got stuck on backup withholding even after calls and sending in a W-9. They use Apex to clear, but I had no similar issue with Stockpile which also uses Apex. I transferred out to Ameritrade as soon as I could.
MrJedi
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by MrJedi »

My tastyworks account was approved this morning. I didn't end up needing to submit any additional documentation. Setting up bank ACH link with test deposits now.
mary1492
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by mary1492 »

xyzzy
Last edited by mary1492 on Wed Oct 05, 2022 1:27 pm, edited 1 time in total.
stilllurking
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by stilllurking »

kxl19 wrote: Mon Oct 25, 2021 9:19 pm
stilllurking wrote: Thu Oct 21, 2021 7:04 pm Has anyone recently taken advantage of an Ally Invest bonus?

Thinking of moving $500k. Any catches besides the 300 day hold?
We did this last year. Had a extremely poor experience. screwed up the cost basis in our Fidelity 500 fund to average cost (was specific ID in Fido) and couldnt' change it back. Setting specific lots was extremely difficult (have to ask for change of interface, and could submit cost basis only after transaction was made), and they also screwed up the 1099-DIV form.

I don't recommend it. WE left as soon as the bonus matured.
Thanks for sharing your experiences kxl19 and calwatch. I'll probably pass unless it's an IRA where I don't need to worry about cost basis.
student
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by student »

MrJedi wrote: Tue Oct 26, 2021 6:40 am My tastyworks account was approved this morning. I didn't end up needing to submit any additional documentation. Setting up bank ACH link with test deposits now.
Thanks for the report.
Barefootgirl
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Barefootgirl »

My transfer to Schwab seems to have hit a snag.

When I went in, I brought a copy of the E Trade bonus for verification/matching purposes.

Was later assured that it was all approved.

A couple days ago, I received an email confirmation from internal Schwab that they will be paying the bonus on the value of the taxable brokerage account that I transferred, but not the Roth account.

Have you ever heard of them not paying the bonus on the total combined dollar amount transferred? only paying based on the value of one account type?

The local guy hasn't returned my message & question on this.

I guess if I don't hear anything, I can always pull the money back out - but what a hassle and poor treatment by Schwab. Oh and by the way, the difference between what was promised then vs. now is only $300 - originally $1500, now seem to want to only pay out $1200.
How many retired people does it take to screw in a lightbulb? Only one, but he takes all day.
nalor511
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by nalor511 »

Barefootgirl wrote: Tue Oct 26, 2021 3:57 pm My transfer to Schwab seems to have hit a snag.

When I went in, I brought a copy of the E Trade bonus for verification/matching purposes.

Was later assured that it was all approved.

A couple days ago, I received an email confirmation from internal Schwab that they will be paying the bonus on the value of the taxable brokerage account that I transferred, but not the Roth account.

Have you ever heard of them not paying the bonus on the total combined dollar amount transferred? only paying based on the value of one account type?

The local guy hasn't returned my message & question on this.

I guess if I don't hear anything, I can always pull the money back out - but what a hassle and poor treatment by Schwab. Oh and by the way, the difference between what was promised then vs. now is only $300 - originally $1500, now seem to want to only pay out $1200.
This bonus matching details are something you needed to work out beforehand, very specifically, including account types and amounts. My experience with Schwab was exactly the same, they refused to "aggregate bonus thresholds across account types", but they told me that up-front, because I asked in writing.

They also said only one bonus, either taxable, or IRA, pick one. So what I did was send Schwab just enough to get one of the bonus tiers, then worked with Fidelity to get myself another bonus on the rest. But that may not be the best choice for everyone.

In my opinion it's not poor treatment by schwab, it's just how Schwab's bonus matching works. If you didn't ask, they definitely won't know to tell you. Unless you got it all in writing beforehand, in which case yes hold their feet to the fire. If you didn't get bonus match details in writing, or you didn't get their response in writing, then that is unfortunately on you. You can tell them you'll pull the funds if they don't agree, and see what they say. You will likely pay a transfer-out fee of $50/holding. Or you can take your $ elsewhere. Or you can just leave it and learn this lesson for next time. Lesson: do not go in, send them everything in writing, get all replies in writing.
Barefootgirl
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Barefootgirl »

I did ask. I did get confirmation.

I communicated with them not only in person, but concurrently, in writing.

I will have to consider what to do next - seems like any transfer out fees might be picked up by a competitor - it's not like there's a shortage.

I've just retired. Phase II has been a plan to also switch out a 7 figure 401K account. I WAS considering Schwab.
How many retired people does it take to screw in a lightbulb? Only one, but he takes all day.
nalor511
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by nalor511 »

Barefootgirl wrote: Tue Oct 26, 2021 4:58 pm I did ask. I did get confirmation.

I communicated with them not only in person, but concurrently, in writing.

I will have to consider what to do next - seems like any transfer out fees might be picked up by a competitor - it's not like there's a shortage.

I've just retired. Phase II has been a plan to also switch out a 7 figure 401K account. I WAS considering Schwab.
Good you got it all in writing. Try again holding them to it, escalate to a supervisor, etc. Keep us posted! Would be really shady if they agreed in wrinting and don't do it
nalor511
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by nalor511 »

jeffyscott wrote: Sun Oct 24, 2021 3:43 pm
stay_the_course wrote: Sun Oct 24, 2021 3:09 pm
whodidntante wrote: Sun Oct 24, 2021 1:37 pm I aware y'all of this fantastic bonus offer from Tastyworks.
https://info.tastyworks.com/opennow

$500 for 10k transfer. It won't be getting better than that, kids. The T&C reads to me that it needs to be a cash deposit. Curious if ACATS will work.

Tastyworks markets to people who like to trade derivatives, exploit portfolio margin, etc., but that's just marketing. You can park your VTI there just fine.

Happy hunting!
Does this have to be the initial funding amount? i.e. I need to have the cash ready to transfer immediately opening the account?
The terms say you have until the end of the year: The Promotion offer is valid on new eligible tastyworks brokerage accounts opened during the Promotional Period and funded with $10,000.00 USD by 11:59pm CST on 12/31/21 (a “Qualified Account”). IRA and Trust accounts are not eligible for the Promotion.
FYI

Funds must remain in the account (minus any trading losses) for a minimum of three (3) months or the cash credit(s) may be surrendered.
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anon_investor
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by anon_investor »

For those folks who did the FIDELITY100 promo, there was a tile when I logged into Fidelity this evening saying:
We're processing your $100 reward

You're all set. We'll deposit your cash reward within 25 days of opening your account.
I did receive an email when I opened the account saying I was registered for the promo. I opened the account on 10/20 and deposited $50 the same day.

My spouse also opened an account with the same promo on 10/20 and deposited $50 the same day, but did not get the promo confirmation email. Though she did get confirmation via live chat AND secure message that she qualified for an will get the $100 bonus, and to contact Fidelity CS if she does not get the $100 bonus deposited 25 days after opening her account. Her account didn't have the same tile about the bonus this evening...
tj
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by tj »

anon_investor wrote: Tue Oct 26, 2021 10:47 pm For those folks who did the FIDELITY100 promo, there was a tile when I logged into Fidelity this evening saying:
We're processing your $100 reward

You're all set. We'll deposit your cash reward within 25 days of opening your account.
I did receive an email when I opened the account saying I was registered for the promo. I opened the account on 10/20 and deposited $50 the same day.

My spouse also opened an account with the same promo on 10/20 and deposited $50 the same day, but did not get the promo confirmation email. Though she did get confirmation via live chat AND secure message that she qualified for an will get the $100 bonus, and to contact Fidelity CS if she does not get the $100 bonus deposited 25 days after opening her account. Her account didn't have the same tile about the bonus this evening...

Fidelity is odd. The last time they did a $100 promo (which wasn't too long ago), they said I didn't qualify when I followed up on why it hadn't posted. The $100 showed up a few days later.
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anon_investor
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by anon_investor »

tj wrote: Tue Oct 26, 2021 10:53 pm
anon_investor wrote: Tue Oct 26, 2021 10:47 pm For those folks who did the FIDELITY100 promo, there was a tile when I logged into Fidelity this evening saying:
We're processing your $100 reward

You're all set. We'll deposit your cash reward within 25 days of opening your account.
I did receive an email when I opened the account saying I was registered for the promo. I opened the account on 10/20 and deposited $50 the same day.

My spouse also opened an account with the same promo on 10/20 and deposited $50 the same day, but did not get the promo confirmation email. Though she did get confirmation via live chat AND secure message that she qualified for an will get the $100 bonus, and to contact Fidelity CS if she does not get the $100 bonus deposited 25 days after opening her account. Her account didn't have the same tile about the bonus this evening...

Fidelity is odd. The last time they did a $100 promo (which wasn't too long ago), they said I didn't qualify when I followed up on why it hadn't posted. The $100 showed up a few days later.
Well, as suggested in this thread, my spouse got it in writing from Fidelity (the secure message has been downloaded as well) confirming she would get the $100. The live chat CS rep put a note on her account about, which was confirmed by a CS rep via secure message. Worst case she has to do another live chat/secure message to get the $100 if it does not show up. She was happy to avoid having to call anyone (looking at your Vanguard).
nalor511
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by nalor511 »

whodidntante wrote: Sun Oct 24, 2021 2:17 pm
student wrote: Sun Oct 24, 2021 2:12 pm
whodidntante wrote: Sun Oct 24, 2021 1:37 pm I aware y'all of this fantastic bonus offer from Tastyworks.
https://info.tastyworks.com/opennow

$500 for 10k transfer. It won't be getting better than that, kids. The T&C reads to me that it needs to be a cash deposit. Curious if ACATS will work.

Tastyworks markets to people who like to trade derivatives, exploit portfolio margin, etc., but that's just marketing. You can park your VTI there just fine.

Happy hunting!
The conditions says minimum 3 months. So one can just deposit $10k for 3 months (no trade) and get $500. Are there any pitfalls that I am not aware of?
None that I can see. I took advantage of a previous promo there and everything went as expected.
When you were ready to close your account could you do it online or did you have to (ugh) call?
student
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by student »

Barefootgirl wrote: Tue Oct 26, 2021 3:57 pm My transfer to Schwab seems to have hit a snag.

When I went in, I brought a copy of the E Trade bonus for verification/matching purposes.

Was later assured that it was all approved.

A couple days ago, I received an email confirmation from internal Schwab that they will be paying the bonus on the value of the taxable brokerage account that I transferred, but not the Roth account.

Have you ever heard of them not paying the bonus on the total combined dollar amount transferred? only paying based on the value of one account type?

The local guy hasn't returned my message & question on this.

I guess if I don't hear anything, I can always pull the money back out - but what a hassle and poor treatment by Schwab. Oh and by the way, the difference between what was promised then vs. now is only $300 - originally $1500, now seem to want to only pay out $1200.
My experience is that it is per account and not combining ROTH and taxable to reach the amount. There may be miscommunication or your local guy gave you the wrong information. Do you have anything in writing or in email that says you can combine two types of account to reach the minimum?

Edit: Since you said that you have that in writing, then as others have said, hold them to it.
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whodidntante
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by whodidntante »

nalor511 wrote: Wed Oct 27, 2021 1:17 pm
whodidntante wrote: Sun Oct 24, 2021 2:17 pm
student wrote: Sun Oct 24, 2021 2:12 pm
whodidntante wrote: Sun Oct 24, 2021 1:37 pm I aware y'all of this fantastic bonus offer from Tastyworks.
https://info.tastyworks.com/opennow

$500 for 10k transfer. It won't be getting better than that, kids. The T&C reads to me that it needs to be a cash deposit. Curious if ACATS will work.

Tastyworks markets to people who like to trade derivatives, exploit portfolio margin, etc., but that's just marketing. You can park your VTI there just fine.

Happy hunting!
The conditions says minimum 3 months. So one can just deposit $10k for 3 months (no trade) and get $500. Are there any pitfalls that I am not aware of?
None that I can see. I took advantage of a previous promo there and everything went as expected.
When you were ready to close your account could you do it online or did you have to (ugh) call?
I tend to think of my accounts as immortal (assuming no fees). It will give my executors something to do.
Nummerkins
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Nummerkins »

whodidntante wrote: Sun Oct 24, 2021 1:37 pm I aware y'all of this fantastic bonus offer from Tastyworks.
https://info.tastyworks.com/opennow

$500 for 10k transfer. It won't be getting better than that, kids. The T&C reads to me that it needs to be a cash deposit. Curious if ACATS will work.

Tastyworks markets to people who like to trade derivatives, exploit portfolio margin, etc., but that's just marketing. You can park your VTI there just fine.

Happy hunting!
Thanks! Just opened 2, easy $1,000.
Today's high is tomorrow's low.
MrJedi
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by MrJedi »

The tastyworks trading platform really is something else. It's like a broker mixed with Twitter mixed with CNBC mixed with a video game. What a mess.
iamblessed
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by iamblessed »

pre wrote: Wed Aug 25, 2021 9:55 pm
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

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 :)
Is the claw back at etrade always 6 months? I thought it was one year a while back???
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jeffyscott
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by jeffyscott »

iamblessed wrote: Fri Oct 29, 2021 3:57 pm
pre wrote: Wed Aug 25, 2021 9:55 pm
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

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 :)
Is the claw back at etrade always 6 months? I thought it was one year a while back???
This one says 12 months, so maybe it varies:
https://us.etrade.com/what-we-offer/how ... ra-cfc3500
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by iamblessed »

jeffyscott wrote: Fri Oct 29, 2021 5:00 pm
iamblessed wrote: Fri Oct 29, 2021 3:57 pm
pre wrote: Wed Aug 25, 2021 9:55 pm
sycamore wrote: Wed Aug 25, 2021 3:54 am
pre wrote: Tue Aug 24, 2021 7:51 pm

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 :)
Is the claw back at etrade always 6 months? I thought it was one year a while back???
This one says 12 months, so maybe it varies:
https://us.etrade.com/what-we-offer/how ... ra-cfc3500
Thanks
MrJedi
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by MrJedi »

My tastyworks bonus posted.

10/25 Applied for cash account
10/26 Account approved
10/26-27 Setup ACH link and deposited 10k
10/29 $500 bonus posted
10/30 setup calendar reminder to withdraw on 2/1 (90 day hold required)

I think I'll have spouse get an account too.
sycamore
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by sycamore »

MrJedi wrote: Sat Oct 30, 2021 6:17 am My tastyworks bonus posted.

10/25 Applied for cash account
10/26 Account approved
10/26-27 Setup ACH link and deposited 10k
10/29 $500 bonus posted
10/30 setup calendar reminder to withdraw on 2/1 (90 day hold required)

I think I'll have spouse get an account too.
Looks like tastyworks uses Plaid to set up the ACH link. Any concerns about entering your bank login credentials? It seems Plaid is becoming more commonplace...
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jeffyscott
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by jeffyscott »

anon_investor wrote: Wed Oct 20, 2021 6:12 am I just saw a new promo from Fidelity, $100 for depositing $50. My spouse and I may each open up new brokerage or CMA accounts at Fidelity today. We already have 529 plans there and my company is moving my HSA to Fidelity early next year.

https://www.fidelity.com/go/special-offer
LIMITED TIME OFFER

Get $100 when you open an eligible account
Promo code FIDELITY100
  • Open a new account

    Use promo code FIDELITY100 when opening The Fidelity Account®, Cash Management Account, Roth IRA, or traditional IRA.*
  • Fund it with $50

    Deposit $50 or more within 15 days after opening your account.
  • Get your $100

    Receive your cash reward! We'll add $100 within 25 days after opening your account.
https://www.fidelity.com/go/terms-conditions
$50 for $100 Cash Offer Terms and Conditions

This offer is valid for new or existing Fidelity Brokerage Services LLC ("Fidelity") customers who open and fund a new, eligible Fidelity account with a minimum of $50 on or after October 18, 2021 through Fidelity.com/go/special-offer. Offer is limited to one account per individual.
Eligible accounts include The Fidelity Account, Fidelity Cash Management Account, Fidelity Roth IRA, or a Fidelity traditional IRA. No other accounts are eligible for this offer.
https://www.fidelity.com/go/offer-faqs
In the terms and conditions it says:
For individuals who open a Roth or traditional IRA account, in order to be eligible to contribute to the IRA (traditional or Roth) you will need to have earned income at least equal to any IRA contribution made for 2021. Individuals who max out their contribution for the calendar year are also not eligible for the bonus award.

Has anyone been told if the $100 bonus will be shown as an IRA contribution, rather than earnings?

I am wondering if that statement is there because the $100 will be a contribution and so, if you have maxed out, you would not get it because it would cause you to exceed the contribution limit. A more convoluted interpretation could be that if you have already contributed the max, you won't be able to open a $50 account and so will not be eligible.
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anon_investor
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by anon_investor »

sycamore wrote: Sat Oct 30, 2021 7:00 am
MrJedi wrote: Sat Oct 30, 2021 6:17 am My tastyworks bonus posted.

10/25 Applied for cash account
10/26 Account approved
10/26-27 Setup ACH link and deposited 10k
10/29 $500 bonus posted
10/30 setup calendar reminder to withdraw on 2/1 (90 day hold required)

I think I'll have spouse get an account too.
Looks like tastyworks uses Plaid to set up the ACH link. Any concerns about entering your bank login credentials? It seems Plaid is becoming more commonplace...
You can change you password before using Plaid, then change it back. Also, if your bank uses 2FA that is an extra layer of security even if Plaid has your login details.
mary1492
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by mary1492 »

xyzzy
Last edited by mary1492 on Tue Oct 04, 2022 4:44 pm, edited 1 time in total.
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