The Final, Definitive Thread on Brokerage Transfer Bonuses

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

Post by gobel »

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.
sycamore
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by sycamore »

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.
HopeToGolf
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by HopeToGolf »

Svensk Anga wrote: Thu Jul 29, 2021 1:00 pm
abracadabra11 wrote: Wed Jul 28, 2021 7:02 am
jonas wrote: Tue Jul 13, 2021 2:32 pm
GeraniumLover wrote: Tue Jul 13, 2021 11:41 am Are they offering smaller bonuses for smaller amounts as well?
I got this just recently: https://us.etrade.com/what-we-offer/how-it-works/promo
Not sure if this has been posted elsewhere, but Schwab is apparently willing to match this promotion. Received an unsolicited call after initiating a transfer to Etrade whereby Schwab would match the promotion if the account remained in place.
I wonder if your trading was a money maker for Schwab? I did a transfer from Schwab to Etrade earlier this year, but heard not a peep about a match. But I trade only rarely and held no high ER funds there.
I called Schwab and they would not match E*TRADE. They are calling my bluff to leave.
HopeToGolf
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by HopeToGolf »

Svensk Anga wrote: Thu Jul 29, 2021 1:00 pm
abracadabra11 wrote: Wed Jul 28, 2021 7:02 am
jonas wrote: Tue Jul 13, 2021 2:32 pm
GeraniumLover wrote: Tue Jul 13, 2021 11:41 am Are they offering smaller bonuses for smaller amounts as well?
I got this just recently: https://us.etrade.com/what-we-offer/how-it-works/promo
Not sure if this has been posted elsewhere, but Schwab is apparently willing to match this promotion. Received an unsolicited call after initiating a transfer to Etrade whereby Schwab would match the promotion if the account remained in place.
I wonder if your trading was a money maker for Schwab? I did a transfer from Schwab to Etrade earlier this year, but heard not a peep about a match. But I trade only rarely and held no high ER funds there.
I called Schwab and they would not match E*TRADE. They are calling my bluff to leave.
abracadabra11
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by abracadabra11 »

HopeToGolf wrote: Sat Aug 07, 2021 4:56 am
Svensk Anga wrote: Thu Jul 29, 2021 1:00 pm
abracadabra11 wrote: Wed Jul 28, 2021 7:02 am
jonas wrote: Tue Jul 13, 2021 2:32 pm
GeraniumLover wrote: Tue Jul 13, 2021 11:41 am Are they offering smaller bonuses for smaller amounts as well?
I got this just recently: https://us.etrade.com/what-we-offer/how-it-works/promo
Not sure if this has been posted elsewhere, but Schwab is apparently willing to match this promotion. Received an unsolicited call after initiating a transfer to Etrade whereby Schwab would match the promotion if the account remained in place.
I wonder if your trading was a money maker for Schwab? I did a transfer from Schwab to Etrade earlier this year, but heard not a peep about a match. But I trade only rarely and held no high ER funds there.
I called Schwab and they would not match E*TRADE. They are calling my bluff to leave.
Then do so.

I've been impressed with my interactions with E-Trade thus far. Assets transferred over on Tuesday, bonus posted on Thursday. I was expecting that the bonus wouldn't post for several weeks like at Schwab.
Makaveli
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Makaveli »

sycamore wrote: Mon Aug 02, 2021 6:17 pm
gobel wrote: Mon Aug 02, 2021 5:05 pm New etrade bonuses. I think one link is for adding assets to an existing account, and the other is for opening a new one:
https://us.etrade.com/promo/4000cfc-combined-summer
https://us.etrade.com/promo/3500cfc-combined-summer

note: I've both gotten and been denied etrade bonuses based on the line "You must be the original recipient of this offer to enroll" that they seem to include in every offer.
There's also another page https://us.etrade.com/promo/choose-your-offer-4k that describes both of those two bonuses. It has a link to the 3500cfc-combined-summer bonus.

I plan to give the new account a try sometime this week...
I am not sure that is valid anymore. On their website this is the current promo: https://us.etrade.com/what-we-offer/how-it-works/promo
Makaveli
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Makaveli »

Makaveli wrote: Sat Aug 07, 2021 7:41 am
sycamore wrote: Mon Aug 02, 2021 6:17 pm
gobel wrote: Mon Aug 02, 2021 5:05 pm New etrade bonuses. I think one link is for adding assets to an existing account, and the other is for opening a new one:
https://us.etrade.com/promo/4000cfc-combined-summer
https://us.etrade.com/promo/3500cfc-combined-summer

note: I've both gotten and been denied etrade bonuses based on the line "You must be the original recipient of this offer to enroll" that they seem to include in every offer.
There's also another page https://us.etrade.com/promo/choose-your-offer-4k that describes both of those two bonuses. It has a link to the 3500cfc-combined-summer bonus.

I plan to give the new account a try sometime this week...
I am not sure that is valid anymore. On their website this is the current promo: https://us.etrade.com/what-we-offer/how-it-works/promo
Also, I called and asked about combining my Brokerage and rIRA to hit a higher TIER and they said no, the bonus amount will only apply to 1 account balance.

edit:

For example, 900k gets $1,200 then another account 100k receives $300 for $1,500 total.

Relative to $1MM getting $3,500.

It's quite silly.
stilllurking
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by stilllurking »

Makaveli wrote: Sat Aug 07, 2021 7:48 am Also, I called and asked about combining my Brokerage and rIRA to hit a higher TIER and they said no, the bonus amount will only apply to 1 account balance.

edit:

For example, 900k gets $1,200 then another account 100k receives $300 for $1,500 total.

Relative to $1MM getting $3,500.

It's quite silly.
So after my lock up with ME, I plan on moving two Roth IRAs (over $200K each) and a joint CMA (over $500K). I'm trying to figure out the best way to maximize the bonuses. Right now, I only have ESPP at ETrade and a previously used (but now $0 balance tIRA) Etrade.

So if I were to do this and if it were greater than $1M, I can only get two $1000 bonuses for the Roths and then an $1800 bonus for the joint?

Account Deposit Receive
$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+ $3,500

Should I just transfer the two Roths for $2000 and then leave the joint account separate to not comingle anything?

Even at the lower $600 bonus each for the two Roths, I would still move unless there are better offers.
Makaveli
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Makaveli »

stilllurking wrote: Sat Aug 07, 2021 8:03 am
Makaveli wrote: Sat Aug 07, 2021 7:48 am Also, I called and asked about combining my Brokerage and rIRA to hit a higher TIER and they said no, the bonus amount will only apply to 1 account balance.

edit:

For example, 900k gets $1,200 then another account 100k receives $300 for $1,500 total.

Relative to $1MM getting $3,500.

It's quite silly.
So after my lock up with ME, I plan on moving two Roth IRAs (over $200K each) and a joint CMA (over $500K). I'm trying to figure out the best way to maximize the bonuses. Right now, I only have ESPP at ETrade and a previously used (but now $0 balance tIRA) Etrade.

So if I were to do this and if it were greater than $1M, I can only get two $1000 bonuses for the Roths and then an $1800 bonus for the joint?

Account Deposit Receive
$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+ $3,500

Should I just transfer the two Roths for $2000 and then leave the joint account separate to not comingle anything?

Even at the lower $600 bonus each for the two Roths, I would still move unless there are better offers.
I'm not sure if their current "BONUS21" promo can function like that. Whereas their set up hurts someone like me, in your given scenario, you would surpass the max $3,500 bonus ($2,000 + $1,800). Something tells me that will not fly but best of luck if so. Let us know what you uncover.
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indexfundfan
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by indexfundfan »

Etrade sometimes has a few promotions running in parallel. Last year when I was transferring my assets to Etrade, the rep told me that I can do two separate transfers to qualify for more bonus.

E.g. if the bonus is $2,500 for >$1mm, and you are going to transfer $2mm, doing it in sequence will net you $5,000. You just need to make sure the first bonus is posted before initiating the second one.
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tj
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by tj »

Makaveli wrote: Sat Aug 07, 2021 7:48 am
Makaveli wrote: Sat Aug 07, 2021 7:41 am
sycamore wrote: Mon Aug 02, 2021 6:17 pm
gobel wrote: Mon Aug 02, 2021 5:05 pm New etrade bonuses. I think one link is for adding assets to an existing account, and the other is for opening a new one:
https://us.etrade.com/promo/4000cfc-combined-summer
https://us.etrade.com/promo/3500cfc-combined-summer

note: I've both gotten and been denied etrade bonuses based on the line "You must be the original recipient of this offer to enroll" that they seem to include in every offer.
There's also another page https://us.etrade.com/promo/choose-your-offer-4k that describes both of those two bonuses. It has a link to the 3500cfc-combined-summer bonus.

I plan to give the new account a try sometime this week...
I am not sure that is valid anymore. On their website this is the current promo: https://us.etrade.com/what-we-offer/how-it-works/promo
Also, I called and asked about combining my Brokerage and rIRA to hit a higher TIER and they said no, the bonus amount will only apply to 1 account balance.

edit:

For example, 900k gets $1,200 then another account 100k receives $300 for $1,500 total.

Relative to $1MM getting $3,500.

It's quite silly.
Silly? Literally every brokerage does it that way.
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Svensk Anga
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Svensk Anga »

abracadabra11 wrote: Sat Aug 07, 2021 7:05 am
I've been impressed with my interactions with E-Trade thus far. Assets transferred over on Tuesday, bonus posted on Thursday. I was expecting that the bonus wouldn't post for several weeks like at Schwab.
I've not been at all impressed with E-trade. I did a transfer there this spring. The offer said they would pay $1k immediately once you transferred in $500K and would top it up to a higher level if you transferred enough in within 60 days. I scrambled to get 500k in, looked for the bonus, never showed. Via chat, they denied that their offer included any early payout. So I waited for the 60 days plus about a week for the final bonus to post. It never showed up. I had to contact them again to hold them to keeping up their end of the deal. Finally got it. The funds will not be there past the lockup period.

In the same time period, we moved my wife's Roth to Schwab. They paid right on time without any prompting.
Makaveli
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Makaveli »

tj wrote: Sat Aug 07, 2021 9:58 am
Makaveli wrote: Sat Aug 07, 2021 7:48 am
Makaveli wrote: Sat Aug 07, 2021 7:41 am
sycamore wrote: Mon Aug 02, 2021 6:17 pm
gobel wrote: Mon Aug 02, 2021 5:05 pm New etrade bonuses. I think one link is for adding assets to an existing account, and the other is for opening a new one:
https://us.etrade.com/promo/4000cfc-combined-summer
https://us.etrade.com/promo/3500cfc-combined-summer

note: I've both gotten and been denied etrade bonuses based on the line "You must be the original recipient of this offer to enroll" that they seem to include in every offer.
There's also another page https://us.etrade.com/promo/choose-your-offer-4k that describes both of those two bonuses. It has a link to the 3500cfc-combined-summer bonus.

I plan to give the new account a try sometime this week...
I am not sure that is valid anymore. On their website this is the current promo: https://us.etrade.com/what-we-offer/how-it-works/promo
Also, I called and asked about combining my Brokerage and rIRA to hit a higher TIER and they said no, the bonus amount will only apply to 1 account balance.

edit:

For example, 900k gets $1,200 then another account 100k receives $300 for $1,500 total.

Relative to $1MM getting $3,500.

It's quite silly.
Silly? Literally every brokerage does it that way.
Wonderful, that makes them all silly. In what world does this make sense? We want $1MM in assets. You deliver $1MM in assets.

I'll pro-rate your bonus because you have 2 accounts.

Get real brokerage firms.

Edit: such a great example of "this is the way it's be done" vs. "this is how it should be done".
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jeffyscott
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by jeffyscott »

Makaveli wrote: Sun Aug 08, 2021 9:20 am
tj wrote: Sat Aug 07, 2021 9:58 am
Makaveli wrote: Sat Aug 07, 2021 7:48 am
Makaveli wrote: Sat Aug 07, 2021 7:41 am
sycamore wrote: Mon Aug 02, 2021 6:17 pm

There's also another page https://us.etrade.com/promo/choose-your-offer-4k that describes both of those two bonuses. It has a link to the 3500cfc-combined-summer bonus.

I plan to give the new account a try sometime this week...
I am not sure that is valid anymore. On their website this is the current promo: https://us.etrade.com/what-we-offer/how-it-works/promo
Also, I called and asked about combining my Brokerage and rIRA to hit a higher TIER and they said no, the bonus amount will only apply to 1 account balance.

edit:

For example, 900k gets $1,200 then another account 100k receives $300 for $1,500 total.

Relative to $1MM getting $3,500.

It's quite silly.
Silly? Literally every brokerage does it that way.
Wonderful, that makes them all silly. In what world does this make sense? We want $1MM in assets. You deliver $1MM in assets.

I'll pro-rate your bonus because you have 2 accounts.

Get real brokerage firms.

Edit: such a great example of "this is the way it's be done" vs. "this is how it should be done".
It is certainly illogical, but no more illogical than a bonus of a $1000 for transferring in $490K, but $1800 for transferring in $510K.

Logical would be something like a bonus that is equal to 0.25% of assets that are transferred in, or maybe something like $50 for every $20K, or even $100 plus $50 for every $25K.

Also logical would be to make it a one time thing in order to shut down the churners, in what world does it makes sense to give you $3500 for transferring in and then let you repeat that by transferring out and then back in next year or whenever?
sc9182
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by sc9182 »

jeffyscott wrote: Sun Aug 08, 2021 9:38 am ..
Logical would be something like a bonus that is equal to 0.25% of assets that are transferred in, or maybe something like $50 for every $20K, or even $100 plus $50 for every $25K.

Also logical would be to make it a one time thing in order to shut down the churners, in what world does it makes sense to give you $3500 for transferring in and then let you repeat that by transferring out and then back in next year or whenever?
Churning is mostly not allowed - that’s why Fidelity claims bonus for once a life time (but they recently started honoring repeat but lesser bonus as one time exception for same folks. Recall reading that ETrade may not allow repeat bonus for at least a year since last bonus period (?).

There are sufficient checks and balances among many brokerages against churning. (M1 Finance currently could be an exception.. as they could be cutting some slack, especially during their current hyper-growth phase ..)
tj
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by tj »

sc9182 wrote: Sun Aug 08, 2021 7:27 pm
jeffyscott wrote: Sun Aug 08, 2021 9:38 am ..
Logical would be something like a bonus that is equal to 0.25% of assets that are transferred in, or maybe something like $50 for every $20K, or even $100 plus $50 for every $25K.

Also logical would be to make it a one time thing in order to shut down the churners, in what world does it makes sense to give you $3500 for transferring in and then let you repeat that by transferring out and then back in next year or whenever?
Churning is mostly not allowed - that’s why Fidelity claims bonus for once a life time (but they recently started honoring repeat but lesser bonus as one time exception for same folks. Recall reading that ETrade may not allow repeat bonus for at least a year since last bonus period (?).

There are sufficient checks and balances among many brokerages against churning. (M1 Finance currently could be an exception.. as they could be cutting some slack, especially during their current hyper-growth phase ..)
Churning is absolutely allowed, but over time less brokerages are offering said promos.

I must have done the Merill Edge promo 2 or 3 times, E Trade 3 times, TDA once or twice....
stupidkid
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by stupidkid »

As a current td Ameritrade customer I inquired on the eligibility of bonus matching for moving my Ameritrade account to Schwab. I was told that Schwab is firm on not giving a bonus to TD Ameritrade customers. Disappointing.
student
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by student »

stupidkid wrote: Tue Aug 10, 2021 7:18 pm As a current td Ameritrade customer I inquired on the eligibility of bonus matching for moving my Ameritrade account to Schwab. I was told that Schwab is firm on not giving a bonus to TD Ameritrade customers. Disappointing.
This is not a surprise as they are now the same company. If you really want to plan the bonus game, you can transfer to Etrade, stay for the required time, and transfer to Schwab.
Last edited by student on Tue Aug 10, 2021 7:59 pm, edited 1 time in total.
stupidkid
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by stupidkid »

Disappointing but not surprising. And yes, that's what I'm considering - though I might start with a call to my Ameritrade rep to see if there's an incentive for keeping the account.
BuddyJet
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by BuddyJet »

sc9182 wrote: Sun Aug 08, 2021 7:27 pm There are sufficient checks and balances among many brokerages against churning. (M1 Finance currently could be an exception.. as they could be cutting some slack, especially during their current hyper-growth phase ..)
M1 seems to have shut the door on churn. Below is text from the latest offer

This offer is non-transferable, and not valid with any of the following: (i) internal transfers, (ii) ACH deposits (bank transfers), (iii) wire transfers, (iv) direct 401(k) rollovers, (v) any customer having previously participated in a M1 ACATS transfer promotion and subsequently transferred the account value to a third party,
People say nothing is impossible. I do nothing all day.
sc9182
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by sc9182 »

BuddyJet wrote: Tue Aug 10, 2021 8:08 pm
sc9182 wrote: Sun Aug 08, 2021 7:27 pm There are sufficient checks and balances among many brokerages against churning. (M1 Finance currently could be an exception.. as they could be cutting some slack, especially during their current hyper-growth phase ..)
M1 seems to have shut the door on churn. Below is text from the latest offer

This offer is non-transferable, and not valid with any of the following: (i) internal transfers, (ii) ACH deposits (bank transfers), (iii) wire transfers, (iv) direct 401(k) rollovers, (v) any customer having previously participated in a M1 ACATS transfer promotion and subsequently transferred the account value to a third party,
BuddyJet, good thing reading the fine-print, glad you made it clear -- to save previous M1 exiles from losing the full promo bonus.

In the following offer, which tops out at $2,500 for $1Million transfer-in, and requires 150 days holding period:
https://www.m1finance.com/transfer/
BuddyJet
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by BuddyJet »

sc9182 wrote: Tue Aug 10, 2021 8:32 pm
BuddyJet wrote: Tue Aug 10, 2021 8:08 pm
sc9182 wrote: Sun Aug 08, 2021 7:27 pm There are sufficient checks and balances among many brokerages against churning. (M1 Finance currently could be an exception.. as they could be cutting some slack, especially during their current hyper-growth phase ..)
M1 seems to have shut the door on churn. Below is text from the latest offer

This offer is non-transferable, and not valid with any of the following: (i) internal transfers, (ii) ACH deposits (bank transfers), (iii) wire transfers, (iv) direct 401(k) rollovers, (v) any customer having previously participated in a M1 ACATS transfer promotion and subsequently transferred the account value to a third party,
BuddyJet, good thing reading the fine-print, glad you made it clear -- to save previous M1 exiles from losing the full promo bonus.

In the following offer, which tops out at $2,500 for $1Million transfer-in, and requires 150 days holding period:
https://www.m1finance.com/transfer/
Your offer’s link doesn’t have the anti-churn language.

My latest offer includes the language but goes to $4k for $2mm.

https://www.m1finance.com/summer-transfer/

Depending on user circumstances, one offer can be better than the other
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calwatch
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by calwatch »

whodidntante wrote: Wed Aug 05, 2020 5:07 pm Interactive Brokers has a really good referral offer right now. I do not recall IB offering a transfer bonus before. Referrer gets zip, Referee gets 1% of deposit, up to $1,000. The reward is given as IBKR shares and you must hold for one year. I have zero interest in holding their shares, but hey, a grand is a grand. One of the better bonuses I've seen if you need to rehome 100k. Doc has coverage and you can beg for referrals there if you need one. It's against the rules here.
I was active on the DOC thread and received an unexpected bonus of hundreds of dollars both last month and this month from all the referrals given. Since some of you might have come from there, thank you. The current bonus is still 1% but the referrer gets $200, but it looks like the referrer bonus is paid one year later. You should probably use someone's link, and then post your link once you become eligible thanking the person whose link you used, like a conga. https://www.doctorofcredit.com/interact ... a-1-bonus/
Last edited by calwatch on Wed Aug 11, 2021 2:32 am, edited 1 time in total.
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pre
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by pre »

sc9182 wrote: Tue Aug 10, 2021 8:32 pm
BuddyJet wrote: Tue Aug 10, 2021 8:08 pm
sc9182 wrote: Sun Aug 08, 2021 7:27 pm There are sufficient checks and balances among many brokerages against churning. (M1 Finance currently could be an exception.. as they could be cutting some slack, especially during their current hyper-growth phase ..)
M1 seems to have shut the door on churn. Below is text from the latest offer

This offer is non-transferable, and not valid with any of the following: (i) internal transfers, (ii) ACH deposits (bank transfers), (iii) wire transfers, (iv) direct 401(k) rollovers, (v) any customer having previously participated in a M1 ACATS transfer promotion and subsequently transferred the account value to a third party,
BuddyJet, good thing reading the fine-print, glad you made it clear -- to save previous M1 exiles from losing the full promo bonus.

In the following offer, which tops out at $2,500 for $1Million transfer-in, and requires 150 days holding period:
https://www.m1finance.com/transfer/
Holy smokes, a $200 transfer out fee! Does M1 at least reimburse for the incoming transfer?
sc9182
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by sc9182 »

pre wrote: Wed Aug 11, 2021 2:30 am ..
In the following offer, which tops out at $2,500 for $1Million transfer-in, and requires 150 days holding period:
https://www.m1finance.com/transfer/
..
Holy smokes, a $200 transfer out fee! Does M1 at least reimburse for the incoming transfer?
Not that I know of - but we haven't tried too hard with M1 for reimbursements either ; assume the fees won't be reimbursed -- hence our up-thread comments regarding M1 -- on trying to keep bonus level minimum $500 or above .. any lower tiers are going to be wash ..
The Big Apple
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by The Big Apple »

pre wrote: Wed Aug 11, 2021 2:30 am ..
Holy smokes, a $200 transfer out fee! Does M1 at least reimburse for the incoming transfer?
I see two different transfer fees - a TOD transfer fee (transfer on death?) for $200 and an account transfer fee of $100. I would think a normal ACAT out would be the $100 charge - which is not that much higher than other brokerages that still charge (Citibank is $75).
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pre
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by pre »

The Big Apple wrote: Wed Aug 11, 2021 10:37 am
pre wrote: Wed Aug 11, 2021 2:30 am ..
Holy smokes, a $200 transfer out fee! Does M1 at least reimburse for the incoming transfer?
I see two different transfer fees - a TOD transfer fee (transfer on death?) for $200 and an account transfer fee of $100. I would think a normal ACAT out would be the $100 charge - which is not that much higher than other brokerages that still charge (Citibank is $75).
Thanks, more reasonable!
sycamore
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by sycamore »

I'm working on a Roth account transfer from Merrill Edge to ETrade. The ETrade transfer web page asks for the External account name, and they show a sample Edge account statement to indicate what I should use. What I see on my statement looks like:

MLPF& S CUST FPO
JOHN M DOE RRA
FBO JOHN M DOE
ADDRESS
CITY STATE ZIP

(I assume RRA stands for something like Roth Retirement Account.)

Would anyone know if it's best to use "JOHN M DOE" or the full "JOHN M DOE RRA" ?
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whodidntante
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by whodidntante »

calwatch wrote: Wed Aug 11, 2021 2:20 am
whodidntante wrote: Wed Aug 05, 2020 5:07 pm Interactive Brokers has a really good referral offer right now. I do not recall IB offering a transfer bonus before. Referrer gets zip, Referee gets 1% of deposit, up to $1,000. The reward is given as IBKR shares and you must hold for one year. I have zero interest in holding their shares, but hey, a grand is a grand. One of the better bonuses I've seen if you need to rehome 100k. Doc has coverage and you can beg for referrals there if you need one. It's against the rules here.
I was active on the DOC thread and received an unexpected bonus of hundreds of dollars both last month and this month from all the referrals given. Since some of you might have come from there, thank you. The current bonus is still 1% but the referrer gets $200, but it looks like the referrer bonus is paid one year later. You should probably use someone's link, and then post your link once you become eligible thanking the person whose link you used, like a conga. https://www.doctorofcredit.com/interact ... a-1-bonus/
I saw your post over at DOC about that. I'm glad you got some money for referring people. That IB offer is fantastic for a 100k asset move.
stupidkid
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by stupidkid »

Update - as a current Ameritrade customer, I couldn't get a transfer bonus to Schwab. I emailed my Ameritrade advisor and asked about a retention bonus - and the next day he said they would match etrade's new account bonus and will be crediting my account.

Even easier than transferring brokerages! He also provided the current new deposit bonuses - not as good but useful as I have some funds I'm considering to add.
student
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by student »

stupidkid wrote: Thu Aug 12, 2021 5:42 pm Update - as a current Ameritrade customer, I couldn't get a transfer bonus to Schwab. I emailed my Ameritrade advisor and asked about a retention bonus - and the next day he said they would match etrade's new account bonus and will be crediting my account.

Even easier than transferring brokerages! He also provided the current new deposit bonuses - not as good but useful as I have some funds I'm considering to add.
Awesome. I guess you must have a big chuck of money there.
stupidkid
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by stupidkid »

All things relative to some of the "big chunk" numbers people throw around on here - but I guess enough for them to care!
SlowMovingInvestor
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by SlowMovingInvestor »

calwatch wrote: Wed Aug 11, 2021 2:20 am
whodidntante wrote: Wed Aug 05, 2020 5:07 pm Interactive Brokers has a really good referral offer right now. I do not recall IB offering a transfer bonus before. Referrer gets zip, Referee gets 1% of deposit, up to $1,000. The reward is given as IBKR shares and you must hold for one year. I have zero interest in holding their shares, but hey, a grand is a grand. One of the better bonuses I've seen if you need to rehome 100k. Doc has coverage and you can beg for referrals there if you need one. It's against the rules here.
I was active on the DOC thread and received an unexpected bonus of hundreds of dollars both last month and this month from all the referrals given. Since some of you might have come from there, thank you. The current bonus is still 1% but the referrer gets $200, but it looks like the referrer bonus is paid one year later. You should probably use someone's link, and then post your link once you become eligible thanking the person whose link you used, like a conga. https://www.doctorofcredit.com/interact ... a-1-bonus/
I'm a little confused. I asked a friend to refer me last year and got a bonus. So you're saying he should get a bonus too round about now ? Or should have got one last year even though that offer didn't mention a bonus for the referrer ?
SlowMovingInvestor
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by SlowMovingInvestor »

How long should a transfer (via ACATS) out of M1 Finance typically take ?

It's been 7 biz days since they got my form.
tj
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by tj »

SlowMovingInvestor wrote: Fri Aug 13, 2021 11:24 am
calwatch wrote: Wed Aug 11, 2021 2:20 am
whodidntante wrote: Wed Aug 05, 2020 5:07 pm Interactive Brokers has a really good referral offer right now. I do not recall IB offering a transfer bonus before. Referrer gets zip, Referee gets 1% of deposit, up to $1,000. The reward is given as IBKR shares and you must hold for one year. I have zero interest in holding their shares, but hey, a grand is a grand. One of the better bonuses I've seen if you need to rehome 100k. Doc has coverage and you can beg for referrals there if you need one. It's against the rules here.
I was active on the DOC thread and received an unexpected bonus of hundreds of dollars both last month and this month from all the referrals given. Since some of you might have come from there, thank you. The current bonus is still 1% but the referrer gets $200, but it looks like the referrer bonus is paid one year later. You should probably use someone's link, and then post your link once you become eligible thanking the person whose link you used, like a conga. https://www.doctorofcredit.com/interact ... a-1-bonus/
I'm a little confused. I asked a friend to refer me last year and got a bonus. So you're saying he should get a bonus too round about now ? Or should have got one last year even though that offer didn't mention a bonus for the referrer ?
You can log in to your accout and find the referral page where it shows you that you'll get $200. I didn't think the $200 offer was in place when calwatch did all his mass referrals, but sounds like they retroactively gave him some?
calwatch
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by calwatch »

It looks like I got $200 referral bonuses a year after I posted it on the Doctor of Credit. The terms at the time did not give the referrer anything, but I am happy to take the “bank error in my favor”. It posts as a negative fee on the daily statement.
SlowMovingInvestor
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by SlowMovingInvestor »

sc9182 wrote: Wed Jul 21, 2021 8:52 pm
SlowMovingInvestor wrote: Wed Jul 21, 2021 8:33 pm I'm trying to transfer from M1 Finance to another broker.

The broker to whom I'm transferring asks for 'Broker Clearing number' of the sending broker. What is M1 Finance's Broker clearing number ? I don't see any listing for M1 in the DTC list.

I know they clear using Apex -- does that mean they use Apex's clearing number ?
Yes Apex one - also Apex accounts number might be slightly different than M1.. check out ..
I did fill in and submit the form properly. Since you seem to have been able to transfer out from M1 successfully, let me ask you

1) Who was the receiving broker (to whom you sent the transfer form) ?
2) How long did it take ?

In my case, it's been 12 biz days since the other broker received my form, but no transfer so far. The other broker told me they had submitted to the sending broker, but hadn't heard back (not clear if they submitted to Apex or to M1 Finance ?). Their customer support is terrible, so I can't get any answers from them on status of transfer. I'm not sure who is to blame either.

Thanks !
sc9182
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by sc9182 »

SlowMovingInvestor wrote: Thu Aug 19, 2021 3:54 pm
sc9182 wrote: Wed Jul 21, 2021 8:52 pm
SlowMovingInvestor wrote: Wed Jul 21, 2021 8:33 pm I'm trying to transfer from M1 Finance to another broker.

The broker to whom I'm transferring asks for 'Broker Clearing number' of the sending broker. What is M1 Finance's Broker clearing number ? I don't see any listing for M1 in the DTC list.

I know they clear using Apex -- does that mean they use Apex's clearing number ?
Yes Apex one - also Apex accounts number might be slightly different than M1.. check out ..
I did fill in and submit the form properly. Since you seem to have been able to transfer out from M1 successfully, let me ask you

1) Who was the receiving broker (to whom you sent the transfer form) ?
2) How long did it take ?

In my case, it's been 12 biz days since the other broker received my form, but no transfer so far. The other broker told me they had submitted to the sending broker, but hadn't heard back (not clear if they submitted to Apex or to M1 Finance ?). Their customer support is terrible, so I can't get any answers from them on status of transfer. I'm not sure who is to blame either.

Thanks !
Only used Apex as the broker from who being pulled out-of. The transfer-in started from ETrade (about 10-12 days) and Schwab (a bit faster about 6-7 days iirc)
hmw
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by hmw »

I received an offer from E*trade recently. It looks pretty good.

https://us.etrade.com/promo/choose-your ... 4k?em=4490

Not sure if it is a targeted offer.
sycamore
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by sycamore »

hmw wrote: Sat Aug 21, 2021 5:41 pm I received an offer from E*trade recently. It looks pretty good.

https://us.etrade.com/promo/choose-your ... 4k?em=4490

Not sure if it is a targeted offer.
I used it, and was not targeted (found it through Doctor Of Credit). The URL I used didn't have the "?em=4490" parameter at the end.

That URL gives two options, one for existing customers, another for new customers. I clicked on the one for new customers, which takes you to https://us.etrade.com/promo/3500cfc-combined-summer. Need to be enrolled by Aug. 31, 2021. After that, you have 60 days to transfer in enough assets.

Also, once I got an email from ETrade confirming my enrollment, I asked Schwab if they would match and they said yes. By splitting my portfolio assets (most of which was previously at Vanguard) I was able to enroll into a good bonus offer at both ETrade and Schwab. The transfer of assets went smoothly and I'm looking forward to receiving the bonus in 6 months... fingers crossed!
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GeraniumLover
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by GeraniumLover »

sycamore wrote: Sat Aug 21, 2021 7:01 pm
hmw wrote: Sat Aug 21, 2021 5:41 pm I received an offer from E*trade recently. It looks pretty good.

https://us.etrade.com/promo/choose-your ... 4k?em=4490

Not sure if it is a targeted offer.
I used it, and was not targeted (found it through Doctor Of Credit). The URL I used didn't have the "?em=4490" parameter at the end.

That URL gives two options, one for existing customers, another for new customers. I clicked on the one for new customers, which takes you to https://us.etrade.com/promo/3500cfc-combined-summer. Need to be enrolled by Aug. 31, 2021. After that, you have 60 days to transfer in enough assets.
As I read it, there are two offers: one for adding money to an existing account and one for opening a new account. If you already have an account at E*Trade, wouldn't it make sense to open a new one since that offers higher bonuses than adding money to an existing account? Am I missing something?
Last edited by GeraniumLover on Sun Aug 22, 2021 11:05 am, edited 1 time in total.
hmw
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by hmw »

GeraniumLover wrote: Sun Aug 22, 2021 10:59 am
sycamore wrote: Sat Aug 21, 2021 7:01 pm
hmw wrote: Sat Aug 21, 2021 5:41 pm I received an offer from E*trade recently. It looks pretty good.

https://us.etrade.com/promo/choose-your ... 4k?em=4490

Not sure if it is a targeted offer.
I used it, and was not targeted (found it through Doctor Of Credit). The URL I used didn't have the "?em=4490" parameter at the end.

That URL gives two options, one for existing customers, another for new customers. I clicked on the one for new customers, which takes you to https://us.etrade.com/promo/3500cfc-combined-summer. Need to be enrolled by Aug. 31, 2021. After that, you have 60 days to transfer in enough assets.
As I read it, there are two offers: one for adding money to an existing account and one for opening a new account. If you already have an account at E*Trade, wouldn't it make sense to open a new one since that offers higher bonuses than adding money to an existing account? Am I missing something?
That's how I read it as well. I am opening a new account for a higher payout.
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by drzzzzz »

sycamore wrote: Sat Aug 21, 2021 7:01 pm
hmw wrote: Sat Aug 21, 2021 5:41 pm I received an offer from E*trade recently. It looks pretty good.

https://us.etrade.com/promo/choose-your ... 4k?em=4490

Not sure if it is a targeted offer.
I used it, and was not targeted (found it through Doctor Of Credit). The URL I used didn't have the "?em=4490" parameter at the end.

That URL gives two options, one for existing customers, another for new customers. I clicked on the one for new customers, which takes you to https://us.etrade.com/promo/3500cfc-combined-summer. Need to be enrolled by Aug. 31, 2021. After that, you have 60 days to transfer in enough assets.



Also, once I got an email from ETrade confirming my enrollment, I asked Schwab if they would match and they said yes. By splitting my portfolio assets (most of which was previously at Vanguard) I was able to enroll into a good bonus offer at both ETrade and Schwab. The transfer of assets went smoothly and I'm looking forward to receiving the bonus in 6 months... fingers crossed!
Did you already have a Schwab accountand if not who did you ask andhow did you confirm that they will match
thanks
sycamore
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by sycamore »

hmw wrote: Sun Aug 22, 2021 11:07 am
GeraniumLover wrote: Sun Aug 22, 2021 10:59 am ...
As I read it, there are two offers: one for adding money to an existing account and one for opening a new account. If you already have an account at E*Trade, wouldn't it make sense to open a new one since that offers higher bonuses than adding money to an existing account? Am I missing something?
That's how I read it as well. I am opening a new account for a higher payout.
That makes more sense; thanks for the correction.
sycamore
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by sycamore »

drzzzzz wrote: Sun Aug 22, 2021 11:08 am
sycamore wrote: Sat Aug 21, 2021 7:01 pm
hmw wrote: Sat Aug 21, 2021 5:41 pm I received an offer from E*trade recently. It looks pretty good.

https://us.etrade.com/promo/choose-your ... 4k?em=4490

Not sure if it is a targeted offer.
I used it, and was not targeted (found it through Doctor Of Credit). The URL I used didn't have the "?em=4490" parameter at the end.

That URL gives two options, one for existing customers, another for new customers. I clicked on the one for new customers, which takes you to https://us.etrade.com/promo/3500cfc-combined-summer. Need to be enrolled by Aug. 31, 2021. After that, you have 60 days to transfer in enough assets.



Also, once I got an email from ETrade confirming my enrollment, I asked Schwab if they would match and they said yes. By splitting my portfolio assets (most of which was previously at Vanguard) I was able to enroll into a good bonus offer at both ETrade and Schwab. The transfer of assets went smoothly and I'm looking forward to receiving the bonus in 6 months... fingers crossed!
Did you already have a Schwab accountand if not who did you ask andhow did you confirm that they will match
thanks
I did not have a Schwab account. As suggested in the helpful Schwab information thread FAQ, I searched for a nearby Schwab branch location at https://client.schwab.com/Public/Branch ... chwab.aspx.

On the web page for the location, I found a way to submit an electronic message (there's also a phone number, might've been easier/faster to just call one of the financial consultants listed). My message stated that I planned to open a new account but wanted to know about a fee waiver for Vanguard funds, and would they match a bonus offer. Next day I got a call from them to discuss the specifics, namely the offer in question (I emailed them the ETrade enrollment confirmation) and how much in assets I'd be transferring. Got a email from Schwab the next day confirming I was enrolled in the bonus program with terms & conditions (transfer $X in assets, $Y bonus amount to be paid if I keep assets there for so many months).
tj
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by tj »

sycamore wrote: Sun Aug 22, 2021 7:20 pm
drzzzzz wrote: Sun Aug 22, 2021 11:08 am
sycamore wrote: Sat Aug 21, 2021 7:01 pm
hmw wrote: Sat Aug 21, 2021 5:41 pm I received an offer from E*trade recently. It looks pretty good.

https://us.etrade.com/promo/choose-your ... 4k?em=4490

Not sure if it is a targeted offer.
I used it, and was not targeted (found it through Doctor Of Credit). The URL I used didn't have the "?em=4490" parameter at the end.

That URL gives two options, one for existing customers, another for new customers. I clicked on the one for new customers, which takes you to https://us.etrade.com/promo/3500cfc-combined-summer. Need to be enrolled by Aug. 31, 2021. After that, you have 60 days to transfer in enough assets.



Also, once I got an email from ETrade confirming my enrollment, I asked Schwab if they would match and they said yes. By splitting my portfolio assets (most of which was previously at Vanguard) I was able to enroll into a good bonus offer at both ETrade and Schwab. The transfer of assets went smoothly and I'm looking forward to receiving the bonus in 6 months... fingers crossed!
Did you already have a Schwab accountand if not who did you ask andhow did you confirm that they will match
thanks
I did not have a Schwab account. As suggested in the helpful Schwab information thread FAQ, I searched for a nearby Schwab branch location at https://client.schwab.com/Public/Branch ... chwab.aspx.

On the web page for the location, I found a way to submit an electronic message (there's also a phone number, might've been easier/faster to just call one of the financial consultants listed). My message stated that I planned to open a new account but wanted to know about a fee waiver for Vanguard funds, and would they match a bonus offer. Next day I got a call from them to discuss the specifics, namely the offer in question (I emailed them the ETrade enrollment confirmation) and how much in assets I'd be transferring. Got a email from Schwab the next day confirming I was enrolled in the bonus program with terms & conditions (transfer $X in assets, $Y bonus amount to be paid if I keep assets there for so many months).
You had to "enroll" in an E*Trade offer? Simply screenshotting the offer was not good enough?
sycamore
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by sycamore »

tj wrote: Sun Aug 22, 2021 7:45 pm
sycamore wrote: Sun Aug 22, 2021 7:20 pm
drzzzzz wrote: Sun Aug 22, 2021 11:08 am
sycamore wrote: Sat Aug 21, 2021 7:01 pm
hmw wrote: Sat Aug 21, 2021 5:41 pm I received an offer from E*trade recently. It looks pretty good.

https://us.etrade.com/promo/choose-your ... 4k?em=4490

Not sure if it is a targeted offer.
I used it, and was not targeted (found it through Doctor Of Credit). The URL I used didn't have the "?em=4490" parameter at the end.

That URL gives two options, one for existing customers, another for new customers. I clicked on the one for new customers, which takes you to https://us.etrade.com/promo/3500cfc-combined-summer. Need to be enrolled by Aug. 31, 2021. After that, you have 60 days to transfer in enough assets.



Also, once I got an email from ETrade confirming my enrollment, I asked Schwab if they would match and they said yes. By splitting my portfolio assets (most of which was previously at Vanguard) I was able to enroll into a good bonus offer at both ETrade and Schwab. The transfer of assets went smoothly and I'm looking forward to receiving the bonus in 6 months... fingers crossed!
Did you already have a Schwab accountand if not who did you ask andhow did you confirm that they will match
thanks
I did not have a Schwab account. As suggested in the helpful Schwab information thread FAQ, I searched for a nearby Schwab branch location at https://client.schwab.com/Public/Branch ... chwab.aspx.

On the web page for the location, I found a way to submit an electronic message (there's also a phone number, might've been easier/faster to just call one of the financial consultants listed). My message stated that I planned to open a new account but wanted to know about a fee waiver for Vanguard funds, and would they match a bonus offer. Next day I got a call from them to discuss the specifics, namely the offer in question (I emailed them the ETrade enrollment confirmation) and how much in assets I'd be transferring. Got a email from Schwab the next day confirming I was enrolled in the bonus program with terms & conditions (transfer $X in assets, $Y bonus amount to be paid if I keep assets there for so many months).
You had to "enroll" in an E*Trade offer? Simply screenshotting the offer was not good enough?
I was already enrolled in the ETrade offer when I asked Schwab, and I happened to show Schwab my enrollment confirmation rather than a screenshot and/or the ETrade offer URL.

So I can't say from experience that Schwab would've accepted a screenshot. I vaguely recall previous posts from this thread suggest a screenshot would be good enough.
nalor511
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by nalor511 »

sycamore wrote: Sun Aug 22, 2021 8:36 pm
tj wrote: Sun Aug 22, 2021 7:45 pm
sycamore wrote: Sun Aug 22, 2021 7:20 pm
drzzzzz wrote: Sun Aug 22, 2021 11:08 am
sycamore wrote: Sat Aug 21, 2021 7:01 pm

I used it, and was not targeted (found it through Doctor Of Credit). The URL I used didn't have the "?em=4490" parameter at the end.

That URL gives two options, one for existing customers, another for new customers. I clicked on the one for new customers, which takes you to https://us.etrade.com/promo/3500cfc-combined-summer. Need to be enrolled by Aug. 31, 2021. After that, you have 60 days to transfer in enough assets.



Also, once I got an email from ETrade confirming my enrollment, I asked Schwab if they would match and they said yes. By splitting my portfolio assets (most of which was previously at Vanguard) I was able to enroll into a good bonus offer at both ETrade and Schwab. The transfer of assets went smoothly and I'm looking forward to receiving the bonus in 6 months... fingers crossed!
Did you already have a Schwab accountand if not who did you ask andhow did you confirm that they will match
thanks
I did not have a Schwab account. As suggested in the helpful Schwab information thread FAQ, I searched for a nearby Schwab branch location at https://client.schwab.com/Public/Branch ... chwab.aspx.

On the web page for the location, I found a way to submit an electronic message (there's also a phone number, might've been easier/faster to just call one of the financial consultants listed). My message stated that I planned to open a new account but wanted to know about a fee waiver for Vanguard funds, and would they match a bonus offer. Next day I got a call from them to discuss the specifics, namely the offer in question (I emailed them the ETrade enrollment confirmation) and how much in assets I'd be transferring. Got a email from Schwab the next day confirming I was enrolled in the bonus program with terms & conditions (transfer $X in assets, $Y bonus amount to be paid if I keep assets there for so many months).
You had to "enroll" in an E*Trade offer? Simply screenshotting the offer was not good enough?
I was already enrolled in the ETrade offer when I asked Schwab, and I happened to show Schwab my enrollment confirmation rather than a screenshot and/or the ETrade offer URL.

So I can't say from experience that Schwab would've accepted a screenshot. I vaguely recall previous posts from this thread suggest a screenshot would be good enough.
They don't need a screen shot you can even just send them the link if it's a public offer. I actually didn't even do that. They know what their competitors are offering, you just have to ask, they're not going to offer without an ask
sycamore
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by sycamore »

sycamore wrote: Wed Aug 11, 2021 3:02 pm I'm working on a Roth account transfer from Merrill Edge to ETrade. The ETrade transfer web page asks for the External account name, and they show a sample Edge account statement to indicate what I should use. What I see on my statement looks like:

MLPF& S CUST FPO
JOHN M DOE RRA
FBO JOHN M DOE
ADDRESS
CITY STATE ZIP

(I assume RRA stands for something like Roth Retirement Account.)

Would anyone know if it's best to use "JOHN M DOE" or the full "JOHN M DOE RRA" ?
Answering my own question: I used "JOHN M DOE" as-is without the "RRA" and the transfer went through just fine.
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pre
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by pre »

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.
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