Bank of America/Merrill Edge - Preferred Rewards

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FedGuy
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by FedGuy »

Thanks, anon_investor. That makes sense. I'm single, don't have convenient access to Costco, and eat out all the time, so it looks like our needs are definitely somewhat different.

You said you can't get another card for 9 months. Is that because of BoA's 2/3/4 rule, Chase's 5/24 rule, or something else? I got my second CCR in June and would like to apply for a third. I thought I read that I can't apply for another CCR for 24 months, but I've had trouble finding online corroboration of that.
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riverant
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by riverant »

FedGuy wrote: Thu Nov 11, 2021 4:08 pm
anon_investor wrote: Thu Nov 11, 2021 4:01 pmThe $95 fees is easily justified by getting 3.5% cash back (instead of just 2.62%) on dinning/travel
Of course, if you're Platinum Honors, you can get 5.25% in dining and/or travel with the Customized Cash Rewards card.

I'm actually about to apply for the Premium Rewards card because I have a large upcoming expense that will allow me to collect the sign-up bonus, but I honestly wrestle with that aspect of Premium Rewards. I already have two CCR cards, which I usually use for dining and online purchases. I understand that Premium Rewards has certain insurance protections and no FTF, but generally I'd rather get 5.25% cash back instead of 3.5% cash back.
at 2500 spend per quarter, CCR would give me ~$70 more a quarter. The hassle of carrying or even thinking about another card isn’t worth it to me. YYMV, but it’s not as simple as comparing 5.25% and 3.5%
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anon_investor
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by anon_investor »

FedGuy wrote: Thu Nov 11, 2021 4:31 pm Thanks, anon_investor. That makes sense. I'm single, don't have convenient access to Costco, and eat out all the time, so it looks like our needs are definitely somewhat different.

You said you can't get another card for 9 months. Is that because of BoA's 2/3/4 rule, Chase's 5/24 rule, or something else? I got my second CCR in June and would like to apply for a third. I thought I read that I can't apply for another CCR for 24 months, but I've had trouble finding online corroboration of that.
I am referring to the BoA 2/3/4 rule, but I might have my wait period wrong (it might be longer, but I don't have plans to get a 4th BoA card, but I will check more carefully if I do).

I applied for and got both the PR+red CCR about 4 months ago. I got my 2nd CCR (Susan G Komen) last month. So I am done with any new CCs for a while.

I plan to downgrade my Chase Sapphire Preferred next year before the annual fee hits to the Chase Freedom Flex. I have no plans for any new CCs.
FedGuy
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by FedGuy »

Thanks, anon_investor!
spammagnet
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by spammagnet »

camper1 wrote: Thu Nov 11, 2021 10:00 am Not sure if this has been discussed in this thread because I haven't read all the posts, but has anyone used Kroger Pay, where your CC is saved on Kroger app and you scan QR code on your phone to pay at self checkout? If my Platinum Honors card has online purchases as it's category, would a Kroger Pay charge show up as online purchase and pay 5.25% reward?
Buy a candy bar and find out.
madbrain
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by madbrain »

Does anyone know the dimensions of the free deposit box one is supposed to get under Preferred Rewards Platinum Honors ? I'm looking to see if it can fit 3.5in hard drives for offline backups, since my Internet upload speed is hopeless compared to the amount of data I backup, and cloud backup isn't an option.

According to Wikipedia, 3.5 inch drives measure approximately 4 inches wide, 5.8 inches long and 0.8 inches thick.
I would probably need to store at least 3 of them.
MisterBill
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by MisterBill »

madbrain wrote: Thu Nov 11, 2021 11:49 pm Does anyone know the dimensions of the free deposit box one is supposed to get under Preferred Rewards Platinum Honors ? I'm looking to see if it can fit 3.5in hard drives for offline backups, since my Internet upload speed is hopeless compared to the amount of data I backup, and cloud backup isn't an option.

According to Wikipedia, 3.5 inch drives measure approximately 4 inches wide, 5.8 inches long and 0.8 inches thick.
I would probably need to store at least 3 of them.
I think it's 3x5, not sure of the length, but probably standard safe deposit length.

Definitely smaller than the box we had at TD, but I finally got my wife to agree to make the switch when TD raised their price on us and t was hard to justify spending extra money when BofA was offering it for free. Fortunately, my local branch had the small boxes available. The upcharge to go to the next highest size box was ridiculously expensive.
camper1
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by camper1 »

spammagnet wrote: Thu Nov 11, 2021 11:14 pm
camper1 wrote: Thu Nov 11, 2021 10:00 am Not sure if this has been discussed in this thread because I haven't read all the posts, but has anyone used Kroger Pay, where your CC is saved on Kroger app and you scan QR code on your phone to pay at self checkout? If my Platinum Honors card has online purchases as it's category, would a Kroger Pay charge show up as online purchase and pay 5.25% reward?
Buy a candy bar and find out.
Thanks for the advice, but rather than changing my card category, signing up for Kroger Pay, and driving down to buy something, I was hoping with all the great information on this thread there might be someone who has tried this! Why reinvent the wheel? :wink:
danaht
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by danaht »

camper1 wrote: Thu Nov 11, 2021 10:00 am Not sure if this has been discussed in this thread because I haven't read all the posts, but has anyone used Kroger Pay, where your CC is saved on Kroger app and you scan QR code on your phone to pay at self checkout? If my Platinum Honors card has online purchases as it's category, would a Kroger Pay charge show up as online purchase and pay 5.25% reward?
Yes, I use the Kroger app all the time now to pay in-store - it shows up as an online payment for the full online bonus.
camper1
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by camper1 »

danaht wrote: Fri Nov 12, 2021 7:03 am
camper1 wrote: Thu Nov 11, 2021 10:00 am Not sure if this has been discussed in this thread because I haven't read all the posts, but has anyone used Kroger Pay, where your CC is saved on Kroger app and you scan QR code on your phone to pay at self checkout? If my Platinum Honors card has online purchases as it's category, would a Kroger Pay charge show up as online purchase and pay 5.25% reward?
Yes, I use the Kroger app all the time now to pay in-store - it shows up as an online payment for the full online bonus.
Great! Thanks for the info!
wunder
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by wunder »

madbrain wrote: Thu Nov 11, 2021 11:49 pm Does anyone know the dimensions of the free deposit box one is supposed to get under Preferred Rewards Platinum Honors ? I'm looking to see if it can fit 3.5in hard drives for offline backups, since my Internet upload speed is hopeless compared to the amount of data I backup, and cloud backup isn't an option.

According to Wikipedia, 3.5 inch drives measure approximately 4 inches wide, 5.8 inches long and 0.8 inches thick.
I would probably need to store at least 3 of them.
I just got a box at my local BofA this week. It is a 3" high, 5" wide, and 24" deep box. I put in some documents and a portable (2.5" laptop style) USB Hard Drive. My hard drive fit in with the box/padding as well. Naked 3.5" drives would probably fit.
bandoba
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by bandoba »

madbrain wrote: Thu Nov 11, 2021 11:49 pm Does anyone know the dimensions of the free deposit box one is supposed to get under Preferred Rewards Platinum Honors ? I'm looking to see if it can fit 3.5in hard drives for offline backups, since my Internet upload speed is hopeless compared to the amount of data I backup, and cloud backup isn't an option.

According to Wikipedia, 3.5 inch drives measure approximately 4 inches wide, 5.8 inches long and 0.8 inches thick.
I would probably need to store at least 3 of them.
Other little expensive option is get a smaller Samsung 1TB disk which is ~$100. I'm sure that would fit in there. Here is the link: https://www.costco.com/sandisk-nvme-ext ... 80552.html
Marseille07
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by Marseille07 »

Lastrun wrote: Fri Nov 12, 2021 1:25 pm It’s live

https://www.ml.com/solutions/preferred-rewards.html
Thanks. PH seems like the best, I'm not sure how anyone can justify transferring 1M+ for those new tiers...
FedGuy
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by FedGuy »

Their tagline is: "It's not just rewards — it's recognition."

That's code for "The rewards aren't worth much."
sailaway
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by sailaway »

FedGuy wrote: Fri Nov 12, 2021 1:36 pm Their tagline is: "It's not just rewards — it's recognition."

That's code for "The rewards aren't worth much."
Well...they don't seem to be. Maybe there will be something amazing in that "lifestyle benefits" category, but it is as vague as vague can be right now and I doubt I have much in common lifestyle wise with someone who is willing and able to park one to ten million in one place. Their big perk in one of the lifestyle examples is helping someone set up direct deposit with their new job. Uh, yeah, I think I can handle that one, since HR will likely shove it at me as part of the signing on process - previously known as intake paperwork, but there just isn't much paper involved these days.
tomsense76
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by tomsense76 »

Marseille07 wrote: Fri Nov 12, 2021 1:31 pm
Lastrun wrote: Fri Nov 12, 2021 1:25 pm It’s live

https://www.ml.com/solutions/preferred-rewards.html
Thanks. PH seems like the best, I'm not sure how anyone can justify transferring 1M+ for those new tiers...
Yeah probably not. Thought they might add a $250k tier with some goodies, which may be worth more consideration. Seems they didn't do that.

Do we know what the check plus symbol means?
"Anyone who claims to understand quantum theory is either lying or crazy" -- Richard Feynman
student
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by student »

FedGuy wrote: Fri Nov 12, 2021 1:36 pm Their tagline is: "It's not just rewards — it's recognition."

That's code for "The rewards aren't worth much."
+1...
Leesbro63
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by Leesbro63 »

tomsense76 wrote: Fri Nov 12, 2021 2:07 pm
Marseille07 wrote: Fri Nov 12, 2021 1:31 pm
Lastrun wrote: Fri Nov 12, 2021 1:25 pm It’s live

https://www.ml.com/solutions/preferred-rewards.html
Thanks. PH seems like the best, I'm not sure how anyone can justify transferring 1M+ for those new tiers...
Yeah probably not. Thought they might add a $250k tier with some goodies, which may be worth more consideration. Seems they didn't do that.

Do we know what the check plus symbol means?
Meh. I have $1M+ at Merrill and was hoping for something better than the current Preferred Honors card. I don't see any REAL new benefits for bigger customers.
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by LadyGeek »

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madbrain
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by madbrain »

bandoba wrote: Fri Nov 12, 2021 10:26 am Other little expensive option is get a smaller Samsung 1TB disk which is ~$100. I'm sure that would fit in there. Here is the link: https://www.costco.com/sandisk-nvme-ext ... 80552.html
Thanks. Too expensive given how many TB I need to backup - at least 15TB. 20-30 would be better. A few >10TB 3.5in drives would be best if they could fit. I don't need the fastest media for the offsite backup, so I was thinking HDD rather than SSD.

Looks like 2.5in HDDs would fit. Seagate makes a 5TB USB drive which I bought years ago at Costco for about $120. It goes on sale for less sometimes for under $100.

It looks like this one. https://www.amazon.com/Seagate-Portable ... B01M00UHV8
I really hate its case, because it uses the micro-USB 3.0 connector. Haven't tried to shuck it to see if it's a standard SATA connector inside or not. I keep in its case for travel use.

Wish Seagate would switch to using USB-C on the enclosure side. Sad to see they still haven't after all these years. They provide an adapter for USB-C on the computer side.
madbrain
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by madbrain »

MisterBill wrote: Fri Nov 12, 2021 12:30 am I think it's 3x5, not sure of the length, but probably standard safe deposit length.

Definitely smaller than the box we had at TD, but I finally got my wife to agree to make the switch when TD raised their price on us and t was hard to justify spending extra money when BofA was offering it for free. Fortunately, my local branch had the small boxes available. The upcharge to go to the next highest size box was ridiculously expensive.
Thank you. Looks like I might have to use 2.5in drives, then.
madbrain
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by madbrain »

Marseille07 wrote: Fri Nov 12, 2021 1:31 pm
Lastrun wrote: Fri Nov 12, 2021 1:25 pm It’s live

https://www.ml.com/solutions/preferred-rewards.html
Thanks. PH seems like the best, I'm not sure how anyone can justify transferring 1M+ for those new tiers...
Yes. As someone without a mortgage, I don't really see it.

The only interesting thing is the unlimited foreign ATM refunds for the two new tiers. But not worth parking $1M at BofA/Merrill when you can get that for $0 at Fidelity or Schwab.
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by aj44 »

Lastrun wrote: Fri Nov 12, 2021 1:25 pm It’s live

https://www.ml.com/solutions/preferred-rewards.html
Nice, CC sweeteners remain unchanged for plat honors.

Nothing motivates me at all for diamond, talk about a buildup and then…… yawn.
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riverant
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by riverant »

New tiers couldn’t be more underwhelming, but at least all the concerns about nerfing platinum honors were unfounded
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by sailaway »

TJat wrote: Fri Nov 12, 2021 4:57 pm New tiers couldn’t be more underwhelming, but at least all the concerns about nerfing platinum honors were unfounded
But are the two lower tiers going away? You can still find them on the website, but they aren't mentioned here.
madbrain
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by madbrain »

sailaway wrote: Fri Nov 12, 2021 5:00 pm
TJat wrote: Fri Nov 12, 2021 4:57 pm New tiers couldn’t be more underwhelming, but at least all the concerns about nerfing platinum honors were unfounded
But are the two lower tiers going away? You can still find them on the website, but they aren't mentioned here.
I don't think so. If you read the fine print for the page on the new tiers, under item 3, about ATM fees, there is a reference to the lower "Platinum" tier, not "Platinum Honors". I think BofA just didn't put all the tiers on a single page.
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by MapleSyrup »

I didn’t see the gold (25k) and platinum (50k) tiers on the new link. Did they eliminate the lower tiers?
Marseille07
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by Marseille07 »

sailaway wrote: Fri Nov 12, 2021 5:00 pm
TJat wrote: Fri Nov 12, 2021 4:57 pm New tiers couldn’t be more underwhelming, but at least all the concerns about nerfing platinum honors were unfounded
But are the two lower tiers going away? You can still find them on the website, but they aren't mentioned here.
I don't think so. PH and up were mentioned on ME because they had announced that their 250K tier is going away. They are targeting wealth management peeps from the get go.

Meanwhile, BofA has Gold / Platinum customers who don't / can't consider PH and up.
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anon_investor
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by anon_investor »

Marseille07 wrote: Fri Nov 12, 2021 5:03 pm
sailaway wrote: Fri Nov 12, 2021 5:00 pm
TJat wrote: Fri Nov 12, 2021 4:57 pm New tiers couldn’t be more underwhelming, but at least all the concerns about nerfing platinum honors were unfounded
But are the two lower tiers going away? You can still find them on the website, but they aren't mentioned here.
I don't think so. PH and up were mentioned on ME because they had announced that their 250K tier is going away. They are targeting wealth management peeps from the get go.

Meanwhile, BofA has Gold / Platinum customers who don't / can't consider PH and up.
I am plenty happy with PH. 75% cash back boost is what I care about.
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by Marseille07 »

anon_investor wrote: Fri Nov 12, 2021 5:12 pm I am plenty happy with PH. 75% cash back boost is what I care about.
There are lots of customers out there who think Platinum is the best because they only need to park 50K and get 50%.
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anon_investor
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by anon_investor »

Marseille07 wrote: Fri Nov 12, 2021 5:16 pm
anon_investor wrote: Fri Nov 12, 2021 5:12 pm I am plenty happy with PH. 75% cash back boost is what I care about.
There are lots of customers out there who think Platinum is the best because they only need to park 50K and get 50%.
They probably don't have $100k+ available to move around. Most people have all their investments in their 401k, you can't move that until you leave your job.
FedGuy
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by FedGuy »

anon_investor wrote: Fri Nov 12, 2021 5:12 pmI am plenty happy with PH. 75% cash back boost is what I care about.
Agreed. If there was a $250,000 tier that offered 100% or something, that would be a tempting goal for me. But adding $900,000 for free international ATM withdrawals? Not so much.
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by Glamdring »

TJat wrote: Fri Nov 12, 2021 4:57 pm New tiers couldn’t be more underwhelming, but at least all the concerns about nerfing platinum honors were unfounded
Underwhelming is a generous opinion.

The ONLY extra value of Diamond level is the “lifestyle rewards” and after reading Footnote 8, the benefits are elusive at best. $10 million dollar customer may get something but $5 million dollar guy probably has to pound sand.


8 You must be enrolled in the Diamond or Diamond Honors tiers of Preferred Rewards to be eligible for these benefits or events. Due to limited availability, some offers may be open only to a limited number of Preferred Rewards members.
Last edited by Glamdring on Fri Nov 12, 2021 6:25 pm, edited 1 time in total.
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anon_investor
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by anon_investor »

Glamdring wrote: Fri Nov 12, 2021 5:53 pm
TJat wrote: Fri Nov 12, 2021 4:57 pm New tiers couldn’t be more underwhelming, but at least all the concerns about nerfing platinum honors were unfounded
Underwhelming is a generous opinion.

The ONLY extra value of is the “lifestyle rewards” and after reading Footnote 8, the benefits are elusive at best. 10 million dollar customer may get something but $5 million dollar guy probably has to pound sand.


8 You must be enrolled in the Diamond or Diamond Honors tiers of Preferred Rewards to be eligible for these benefits or events. Due to limited availability, some offers may be open only to a limited number of Preferred Rewards members.
Haha. How much does one need at Fidelity to get free Turbo Tax Premiere? That sounds like a more useful perk than Diamond or Diamond Honors can offer.
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by MisterBill »

TJat wrote: Fri Nov 12, 2021 4:57 pm New tiers couldn’t be more underwhelming, but at least all the concerns about nerfing platinum honors were unfounded
Yes, indeed. At least now, the poster who said that they were losing sleep over the possible changes can rest easy.
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by Marseille07 »

MisterBill wrote: Fri Nov 12, 2021 7:12 pm
TJat wrote: Fri Nov 12, 2021 4:57 pm New tiers couldn’t be more underwhelming, but at least all the concerns about nerfing platinum honors were unfounded
Yes, indeed. At least now, the poster who said that they were losing sleep over the possible changes can rest easy.
Haha, MisterBill my buddy! :beer
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by MisterBill »

anon_investor wrote: Fri Nov 12, 2021 6:22 pm Haha. How much does one need at Fidelity to get free Turbo Tax Premiere? That sounds like a more useful perk than Diamond or Diamond Honors can offer.
I'm not sure if that's an actual or rhetorical question. But yes, you generally need to have $1m at Fidelity to get TurboTax for free.
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by MisterBill »

FedGuy wrote: Fri Nov 12, 2021 5:18 pm Agreed. If there was a $250,000 tier that offered 100% or something, that would be a tempting goal for me. But adding $900,000 for free international ATM withdrawals? Not so much.
I also would have considered a $250k tier, assuming there was something of value.
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anon_investor
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by anon_investor »

MisterBill wrote: Fri Nov 12, 2021 7:19 pm
anon_investor wrote: Fri Nov 12, 2021 6:22 pm Haha. How much does one need at Fidelity to get free Turbo Tax Premiere? That sounds like a more useful perk than Diamond or Diamond Honors can offer.
I'm not sure if that's an actual or rhetorical question. But yes, you generally need to have $1m at Fidelity to get TurboTax for free.
Kind of a joke, but ask yourself, would you rather have free turbo tax premier or the Diamond perks? I'd rather have PH and free turbo tax premier.
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by aj44 »

Thinking of the ML advisers who were begging for something to offer clients with Project Thunder and BOA takes months to come up with

“tell your clients they get the recognition of diamond with worldwide ATM reimbursement”
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by exigent »

FedGuy wrote: Fri Nov 12, 2021 1:36 pm Their tagline is: "It's not just rewards — it's recognition."

That's code for "The rewards aren't worth much."
I think the big news here for pretty much all of us is that they didn’t cheapen and of the existing tiers when they did this. Tbh, I’m a bit surprised that they didn’t. That’s the typical M.O. when rolling out “enhancements” to popular, consumer-friendly programs.

Thrilled that I can still just park a big chunk of VWIUX at Merrill Edge and get the Platinum Honors benefits.
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by VictorStarr »

aj44 wrote: Fri Nov 12, 2021 9:12 pm Thinking of the ML advisers who were begging for something to offer clients with Project Thunder and BOA takes months to come up with

“tell your clients they get the recognition of diamond with worldwide ATM reimbursement”
Even for the Diamond level BofA has a foreign transaction fee for debit card.
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by BrandonBogle »

exigent wrote: Fri Nov 12, 2021 9:17 pm
FedGuy wrote: Fri Nov 12, 2021 1:36 pm Their tagline is: "It's not just rewards — it's recognition."

That's code for "The rewards aren't worth much."
I think the big news here for pretty much all of us is that they didn’t cheapen and of the existing tiers when they did this. Tbh, I’m a bit surprised that they didn’t. That’s the typical M.O. when rolling out “enhancements” to popular, consumer-friendly programs.

Thrilled that I can still just park a big chunk of VWIUX at Merrill Edge and get the Platinum Honors benefits.
I for one was expecting zero change to the lower tiers and expected nothing except for collapsing the ML Premium Honors program into the BofA Premium Honors program, sans the $250k tier.
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Cranberry44
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by Cranberry44 »

Hi All,

I'm hoping to start the transfer process to Merrill Edge today. I'm trying to decide the best course of action for transferring 100k.

My taxable account has the following funds (approx 120k, at Fidelity):
VTI
VT
VXUS
SPY

My Roth IRA has the following funds (approx 30k, at fidelity)
FZROX
GBTC (Grayscale Bitcoin trust)
ETHE (Grayscale Ethereum trust)


Is there any advice or reasoning in these 40+ pages of discussion as to how to transfer 100k?

I could do...

A) part taxable and entire Roth IRA.
or
B) entire taxable
or
C) 100k of taxable (and leave the remaining amount at fidelity)

Thoughts?
Thanks so much!
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anon_investor
Posts: 15122
Joined: Mon Jun 03, 2019 1:43 pm

Re: Bank of America/Merrill Edge - Preferred Rewards

Post by anon_investor »

Cranberry44 wrote: Sat Nov 13, 2021 9:32 am Hi All,

I'm hoping to start the transfer process to Merrill Edge today. I'm trying to decide the best course of action for transferring 100k.

My taxable account has the following funds (approx 120k, at Fidelity):
VTI
VT
VXUS
SPY

My Roth IRA has the following funds (approx 30k, at fidelity)
FZROX
GBTC (Grayscale Bitcoin trust)
ETHE (Grayscale Ethereum trust)


Is there any advice or reasoning in these 40+ pages of discussion as to how to transfer 100k?

I could do...

A) part taxable and entire Roth IRA.
or
B) entire taxable
or
C) 100k of taxable (and leave the other

Thoughts?
Thanks so much!
Move $100k from the taxable account and use the ME750 promo code to get a $350 bonus for moving $100k to a new account.
spammagnet
Posts: 2481
Joined: Wed Apr 27, 2016 9:42 pm

Re: Bank of America/Merrill Edge - Preferred Rewards

Post by spammagnet »

Cranberry44 wrote: Sat Nov 13, 2021 9:32 am... I could do...

A) part taxable and entire Roth IRA.
or
B) entire taxable
or
C) 100k of taxable (and leave the other

Thoughts?
Thanks so much!
What is your preference for future use of the current accounts?
calwatch
Posts: 1447
Joined: Wed Oct 02, 2013 1:48 am

Re: Bank of America/Merrill Edge - Preferred Rewards

Post by calwatch »

tomsense76 wrote: Fri Nov 12, 2021 2:07 pm Do we know what the check plus symbol means?
Here's the extent of "check plus" from the "personal schedule of fees":
- Unlimited additional checking accounts (as opposed to four for Platinum)
- Unlimited additional savings accounts (as opposed to four for Platinum)

That is literally it. They still charge for ACH out which no other bank in my experience does, although this is easily evaded by running the funds through Merrill.

https://www.bankofamerica.com/salesserv ... dule-fees/
FedGuy
Posts: 1677
Joined: Sun Jul 25, 2010 3:36 pm

Re: Bank of America/Merrill Edge - Preferred Rewards

Post by FedGuy »

calwatch wrote: Sat Nov 13, 2021 3:49 pmHere's the extent of "check plus" from the "personal schedule of fees":
- Unlimited additional checking accounts (as opposed to four for Platinum)
- Unlimited additional savings accounts (as opposed to four for Platinum)
Honest question: why would one person need multiple checking accounts and/or multiple savings accounts at the same bank?
madbrain
Posts: 6804
Joined: Thu Jun 09, 2011 5:06 pm
Location: San Jose, California

Re: Bank of America/Merrill Edge - Preferred Rewards

Post by madbrain »

calwatch wrote: Sat Nov 13, 2021 3:49 pm They still charge for ACH out which no other bank in my experience does, although this is easily evaded by running the funds through Merrill.
A few other banks do charge for ACH transfers, for example, Bank of the West.
Some only charge for outgoing transfers (push), not incoming (pull).

Is the transfer to Merrill instant, in order to avoid the ACH fee ? Or do you have to wait an extra business day ?
In any case, my Merrill account is a Roth IRA, so that won't work for me.
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