The Final, Definitive Thread on Brokerage Transfer Bonuses

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grtwallchina75
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by grtwallchina75 »

Is it possible to request Brokerages to offer retention bonus ? Anyone done this successfully ? If yes, who/how did you approach and accomplish this ?

I've 350K in Merrill edge and another 350K in Schwab and I'm thinking to call both ME and Schwab to mention the WellsFargo $2500 bonus offer (https://bonusoffer.wf.com/premierupgrade/) and see what they say.
nalor511
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by nalor511 »

grtwallchina75 wrote: Tue Apr 11, 2023 1:47 am Is it possible to request Brokerages to offer retention bonus ? Anyone done this successfully ? If yes, who/how did you approach and accomplish this ?

I've 350K in Merrill edge and another 350K in Schwab and I'm thinking to call both ME and Schwab to mention the WellsFargo $2500 bonus offer (https://bonusoffer.wf.com/premierupgrade/) and see what they say.
Yes. Success in 2021 with Schwab matches. None in 2022/3, they refuse to match the good offers.
grtwallchina75
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by grtwallchina75 »

Thank you.

Was it with Schwab at 2021 ? Who and how did you approach the retention bonus/match ? Just asking ?
nalor511 wrote: Tue Apr 11, 2023 2:02 am
Yes. Success in 2021 with Schwab matches. None in 2022/3, they refuse to match the good offers.
nalor511
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by nalor511 »

Yes. Live chat or email will refer you to a bonus match specialist if you ask.
grtwallchina75 wrote: Tue Apr 11, 2023 2:08 am Thank you.

Was it with Schwab at 2021 ? Who and how did you approach the retention bonus/match ? Just asking ?
nalor511 wrote: Tue Apr 11, 2023 2:02 am
Yes. Success in 2021 with Schwab matches. None in 2022/3, they refuse to match the good offers.
PizzaEater
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by PizzaEater »

bbrock wrote: Mon Apr 10, 2023 9:39 pm Anyone try this Axos offer? Was going to pull the plug, but reading the reviews at DoC, they have scared me off. The $250 doesn't sound worth it after reading, unless users can chime in here with some other info
https://www.axos.com/invest/pages/bonus-offer
Yes, I opened an account and transferred $2,100 (a little over $2,000 just to be safe) last month (March). I guess they extended the promotion. I made 2 trades to buy Vanguard Ultra-Short Bond ETF (VUSB). Now I'm just waiting for the bonus to be paid to transfer everything out and close my account. (I plan on selling all the VUSB and then transfer the cash out).
bbrock
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by bbrock »

PizzaEater wrote: Tue Apr 11, 2023 8:28 am
bbrock wrote: Mon Apr 10, 2023 9:39 pm Anyone try this Axos offer? Was going to pull the plug, but reading the reviews at DoC, they have scared me off. The $250 doesn't sound worth it after reading, unless users can chime in here with some other info
https://www.axos.com/invest/pages/bonus-offer
Yes, I opened an account and transferred $2,100 (a little over $2,000 just to be safe) last month (March). I guess they extended the promotion. I made 2 trades to buy Vanguard Ultra-Short Bond ETF (VUSB). Now I'm just waiting for the bonus to be paid to transfer everything out and close my account. (I plan on selling all the VUSB and then transfer the cash out).
Got it. Thanks for responding pizzaester. Sounds like the investment part went smooth,but it’s the bonus payment and exit that we don’t know about.

Have you had to contact customer service at all? If so, did they respond promptly?
bbrock
PizzaEater
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by PizzaEater »

bbrock wrote: Tue Apr 11, 2023 10:42 am
PizzaEater wrote: Tue Apr 11, 2023 8:28 am
bbrock wrote: Mon Apr 10, 2023 9:39 pm Anyone try this Axos offer? Was going to pull the plug, but reading the reviews at DoC, they have scared me off. The $250 doesn't sound worth it after reading, unless users can chime in here with some other info
https://www.axos.com/invest/pages/bonus-offer
Yes, I opened an account and transferred $2,100 (a little over $2,000 just to be safe) last month (March). I guess they extended the promotion. I made 2 trades to buy Vanguard Ultra-Short Bond ETF (VUSB). Now I'm just waiting for the bonus to be paid to transfer everything out and close my account. (I plan on selling all the VUSB and then transfer the cash out).
Got it. Thanks for responding pizzaester. Sounds like the investment part went smooth,but it’s the bonus payment and exit that we don’t know about.

Have you had to contact customer service at all? If so, did they respond promptly?
No, I have not contacted customer service. Don't plan on it, either :happy

The only weird thing I've encountered is that there seems to be 2 separate interfaces to showing your account balance. When I transferred my money in and bought the VUSB the first (bank?) interface showed my account balance as being double of what it actually was - it counted the (already spent) cash and the VUSB holding. The trading interface was always correct. The issue resolved itself in a day or two (maybe after settlement?).
Tukgahgo
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Tukgahgo »

Another +1 for tastytrade. Initial deposit posted to my account promptly and the bonus was available to trade with 2 days later. I don't believe I have ever seen a Bank/Credit Card/Brokerage bonus get awarded so quickly.

Despite the comments here, I am actually very impressed with their desktop application.
bbrock
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by bbrock »

PizzaEater wrote: Tue Apr 11, 2023 12:58 pm
bbrock wrote: Tue Apr 11, 2023 10:42 am
PizzaEater wrote: Tue Apr 11, 2023 8:28 am
bbrock wrote: Mon Apr 10, 2023 9:39 pm Anyone try this Axos offer? Was going to pull the plug, but reading the reviews at DoC, they have scared me off. The $250 doesn't sound worth it after reading, unless users can chime in here with some other info
https://www.axos.com/invest/pages/bonus-offer
Yes, I opened an account and transferred $2,100 (a little over $2,000 just to be safe) last month (March). I guess they extended the promotion. I made 2 trades to buy Vanguard Ultra-Short Bond ETF (VUSB). Now I'm just waiting for the bonus to be paid to transfer everything out and close my account. (I plan on selling all the VUSB and then transfer the cash out).
Got it. Thanks for responding pizzaester. Sounds like the investment part went smooth,but it’s the bonus payment and exit that we don’t know about.

Have you had to contact customer service at all? If so, did they respond promptly?
No, I have not contacted customer service. Don't plan on it, either :happy

The only weird thing I've encountered is that there seems to be 2 separate interfaces to showing your account balance. When I transferred my money in and bought the VUSB the first (bank?) interface showed my account balance as being double of what it actually was - it counted the (already spent) cash and the VUSB holding. The trading interface was always correct. The issue resolved itself in a day or two (maybe after settlement?).
I randomly emailed Axos to ask questions, no response, not worth it, in my opinion.
bbrock
bbrock
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by bbrock »

Tukgahgo wrote: Thu Apr 13, 2023 12:15 pm Another +1 for tastytrade. Initial deposit posted to my account promptly and the bonus was available to trade with 2 days later. I don't believe I have ever seen a Bank/Credit Card/Brokerage bonus get awarded so quickly.

Despite the comments here, I am actually very impressed with their desktop application.
What are their present bonuses?
bbrock
Tukgahgo
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Tukgahgo »

bbrock wrote: Thu Apr 13, 2023 1:00 pm
Tukgahgo wrote: Thu Apr 13, 2023 12:15 pm Another +1 for tastytrade. Initial deposit posted to my account promptly and the bonus was available to trade with 2 days later. I don't believe I have ever seen a Bank/Credit Card/Brokerage bonus get awarded so quickly.

Despite the comments here, I am actually very impressed with their desktop application.
What are their present bonuses?
They are still offering up to $2,000 until at least the end of the month: https://support.tastyworks.com/support/ ... otion-2023
escapist
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by escapist »

PizzaEater wrote: Tue Apr 11, 2023 8:28 am Yes, I opened an account and transferred $2,100 (a little over $2,000 just to be safe) last month (March). I guess they extended the promotion. I made 2 trades to buy Vanguard Ultra-Short Bond ETF (VUSB). Now I'm just waiting for the bonus to be paid to transfer everything out and close my account. (I plan on selling all the VUSB and then transfer the cash out).
I just read the fine print on Axos offer page and it states:

You must also place at least one purchase transaction for a minimum market value of $50 at time of order execution.

VUSB seems to be under $50, so you might not get the bonus unless you buy something else. I might try it with XHLF (Bondbloxx half-year treasury ETF) and SGOV (iShares 0-3 month treasury ETF).
tj
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by tj »

escapist wrote: Thu Apr 13, 2023 10:07 pm
PizzaEater wrote: Tue Apr 11, 2023 8:28 am Yes, I opened an account and transferred $2,100 (a little over $2,000 just to be safe) last month (March). I guess they extended the promotion. I made 2 trades to buy Vanguard Ultra-Short Bond ETF (VUSB). Now I'm just waiting for the bonus to be paid to transfer everything out and close my account. (I plan on selling all the VUSB and then transfer the cash out).
I just read the fine print on Axos offer page and it states:

You must also place at least one purchase transaction for a minimum market value of $50 at time of order execution.

VUSB seems to be under $50, so you might not get the bonus unless you buy something else. I might try it with XHLF (Bondbloxx half-year treasury ETF) and SGOV (iShares 0-3 month treasury ETF).
I would assume they market value is your entire transaction amount (aka more than 1 share) and not limited to securities that are priced above $50 for 1 share
Ron Ronnerson
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Ron Ronnerson »

tj wrote: Thu Apr 13, 2023 10:33 pm
escapist wrote: Thu Apr 13, 2023 10:07 pm
PizzaEater wrote: Tue Apr 11, 2023 8:28 am Yes, I opened an account and transferred $2,100 (a little over $2,000 just to be safe) last month (March). I guess they extended the promotion. I made 2 trades to buy Vanguard Ultra-Short Bond ETF (VUSB). Now I'm just waiting for the bonus to be paid to transfer everything out and close my account. (I plan on selling all the VUSB and then transfer the cash out).
I just read the fine print on Axos offer page and it states:

You must also place at least one purchase transaction for a minimum market value of $50 at time of order execution.

VUSB seems to be under $50, so you might not get the bonus unless you buy something else. I might try it with XHLF (Bondbloxx half-year treasury ETF) and SGOV (iShares 0-3 month treasury ETF).
I would assume they market value is your entire transaction amount (aka more than 1 share) and not limited to securities that are priced above $50 for 1 share
This would be my interpretation as well.

I recently did an offer for a $150 bonus on SoFi via Swagbucks (see below for link and details if interested). They require a deposit and trade of $50 to earn 15,000 swagbuck points (worth $150). I opened a Swagbucks account and then used a link within Swagbucks to open the SoFi invest account. I deposited $100 into SoFi and bought two shares of VUSB for a total of about $98. The 15k swagbuck points are showing as pending and will become available after 32 days.

https://www.doctorofcredit.com/swagbuck ... -required/)

On a side note, I decided to wait to see whether Axos is worth it until a few more people share about their experience. So far, there is a lot of negative feedback on doctorofcredit about them.
PizzaEater
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by PizzaEater »

escapist wrote: Thu Apr 13, 2023 10:07 pm
PizzaEater wrote: Tue Apr 11, 2023 8:28 am Yes, I opened an account and transferred $2,100 (a little over $2,000 just to be safe) last month (March). I guess they extended the promotion. I made 2 trades to buy Vanguard Ultra-Short Bond ETF (VUSB). Now I'm just waiting for the bonus to be paid to transfer everything out and close my account. (I plan on selling all the VUSB and then transfer the cash out).
I just read the fine print on Axos offer page and it states:

You must also place at least one purchase transaction for a minimum market value of $50 at time of order execution.

VUSB seems to be under $50, so you might not get the bonus unless you buy something else. I might try it with XHLF (Bondbloxx half-year treasury ETF) and SGOV (iShares 0-3 month treasury ETF).
The fine print when I opened the account (March) was 2 trades. And yes, obviously I bought more than 1 share (during each trade) to meet the $50 requirement. Although rereading my post I see I was vague about that detail.
SuzBanyan
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by SuzBanyan »

My former employer is going out of business and will be terminating it SIMPLE IRA plan at Schwab in the next few months. I have just over $200k in the account. Is it worth it to try to get a retention bonus from Schwab to move it to an IRA? I have no other accounts at Schwab. Any suggestions for other options? I have an HSA at Fidelity, a Roth at Merrill and everything else at Vanguard.
placeholder
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by placeholder »

SuzBanyan wrote: Fri Apr 14, 2023 9:43 am My former employer is going out of business and will be terminating it SIMPLE IRA plan at Schwab in the next few months. I have just over $200k in the account. Is it worth it to try to get a retention bonus from Schwab to move it to an IRA? I have no other accounts at Schwab. Any suggestions for other options? I have an HSA at Fidelity, a Roth at Merrill and everything else at Vanguard.
You can certainly try but I'd be prepared to go somewhere else if you really want a bonus and for that amount in an ira it looks like etrade is your best bet at $1000 which you should be familiar with anyway if you want to get a bonus from schwab.

Edit: found the better etrade offer https://us.etrade.com/what-we-offer/how ... ra-cfc3500
Last edited by placeholder on Sat Apr 15, 2023 2:05 am, edited 1 time in total.
placeholder
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by placeholder »

placeholder wrote: Fri Apr 14, 2023 6:55 pm
SuzBanyan wrote: Fri Apr 14, 2023 9:43 am My former employer is going out of business and will be terminating it SIMPLE IRA plan at Schwab in the next few months. I have just over $200k in the account. Is it worth it to try to get a retention bonus from Schwab to move it to an IRA? I have no other accounts at Schwab. Any suggestions for other options? I have an HSA at Fidelity, a Roth at Merrill and everything else at Vanguard.
You can certainly try but I'd be prepared to go somewhere else if you really want a bonus and for that amount in an ira it looks like etrade is your best bet at $600 which you should be familiar with anyway if you want to get a bonus from schwab.
Also find out what the rules on the closure and whether they will allow an in kind transfer or be liquidating and sending a check plus whether going to a schwab ira makes a difference.
thowaway1000
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by thowaway1000 »

Hi, I'm interested in the tastytrade promotion offer.
  • Does the cost basis for ESPP shares transfer accurately?
  • How long does it take typically transfer assets from fidelity to tastytrade?

thank you
placeholder
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by placeholder »

thowaway1000 wrote: Sat Apr 15, 2023 11:19 am How long does it take typically transfer assets from fidelity to tastytrade?[/list]
I can't answer about fidelity but transferring etfs from merril edge was fast as are most acats transfers I do these days.
bbrock
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by bbrock »

>>>deleted
Last edited by bbrock on Thu Apr 20, 2023 5:58 pm, edited 1 time in total.
bbrock
spammagnet
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by spammagnet »

placeholder wrote: Sat Apr 15, 2023 6:30 pm
thowaway1000 wrote: Sat Apr 15, 2023 11:19 am How long does it take typically transfer assets from fidelity to tastytrade?[/list]
I can't answer about fidelity but transferring etfs from merril edge was fast as are most acats transfers I do these days.
I transferred some ETFs from Fidelity to Tastyworks by ACAT about a year ago. I can't find evidence of elapsed days between initiating it on TW and Fidelity completing it, but I don't recall any particular anxiety about it. I believe the sending firm is obligated to complete the transfer with 5 business days, if everything is in order? (If the sending firm had discretion in the matter, transfers out of Edward Jones would always fail.) If I had any qualms about the transaction it would be about TW, not Fidelity.
hmw
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by hmw »

I have about 1.4 million sitting at Etrade. Where can I move to get a nice bonus? Anyone has any experience with CITI? They are offering $3000 for one million but most reviews are not very good. Will Schwab match the $3000 offer from CITI? I had Schwab accounts in the past. Will Fido match the $3000 offer? Thanks
placeholder
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by placeholder »

hmw wrote: Mon Apr 17, 2023 4:45 pm I have about 1.4 million sitting at Etrade. Where can I move to get a nice bonus? Anyone has any experience with CITI? They are offering $3000 for one million but most reviews are not very good. Will Schwab match the $3000 offer from CITI? I had Schwab accounts in the past. Will Fido match the $3000 offer? Thanks
What sort of account taxable or ira?
bbrock
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by bbrock »

...deleted.
Last edited by bbrock on Thu Apr 20, 2023 5:58 pm, edited 1 time in total.
bbrock
SlowMovingInvestor
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by SlowMovingInvestor »

Anyone have any comments/thoughts on the WellsFargo 2500 offer ?

It looks pretty good if one can open a Wells Fargo brokerage account that is self directed. Does a WellsTrade Brokerage account qualify?

https://bonusoffer.wf.com/premierbonus
hmw
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by hmw »

placeholder wrote: Mon Apr 17, 2023 6:17 pm
hmw wrote: Mon Apr 17, 2023 4:45 pm I have about 1.4 million sitting at Etrade. Where can I move to get a nice bonus? Anyone has any experience with CITI? They are offering $3000 for one million but most reviews are not very good. Will Schwab match the $3000 offer from CITI? I had Schwab accounts in the past. Will Fido match the $3000 offer? Thanks
What sort of account taxable or ira?
Taxable
hmw
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by hmw »

SlowMovingInvestor wrote: Mon Apr 17, 2023 7:17 pm Anyone have any comments/thoughts on the WellsFargo 2500 offer ?

It looks pretty good if one can open a Wells Fargo brokerage account that is self directed. Does a WellsTrade Brokerage account qualify?

https://bonusoffer.wf.com/premierbonus
Wellstrade brokerage account qaulifies.
mrken
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by mrken »

Anybody try transferring “restricted” securities to WellsTrade? Just found out WellsTrade does not allow purchases of “risky” ETFs such as SVIX. Does WellsTrade liquidate them during an incoming in-kind ACATS?

Merrill Edge has similar purchase restrictions on risky securities but will transfer them in-kind with no issues.
ras4250
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by ras4250 »

Has anyone done the new TIERED_2023 Tastytrade offer? https://info.tastytrade.com/tasty-offer

I did not see the terms of the 2022 offer, but these terms say "... from date of the initial deposit of at least $5,000 USD (the “Funds”). The Funds must be deposited as a single transaction prior to the end of the Promotional Period." They do not mention ACAT or transfers.

Is this cash only? Or has anyone done this new 2023 offer with transfer of securities exceeding the value?
nalor511
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by nalor511 »

hmw wrote: Mon Apr 17, 2023 4:45 pm I have about 1.4 million sitting at Etrade. Where can I move to get a nice bonus? Anyone has any experience with CITI? They are offering $3000 for one million but most reviews are not very good. Will Schwab match the $3000 offer from CITI? I had Schwab accounts in the past. Will Fido match the $3000 offer? Thanks
Neither Schwab nor Fido will match the Citi offer. Fido will likely offer you about $2500 for $1mil. Schwab will match Etrade (generally, not always). Etrade may offer you a retention bonus not to leave, if you ask.
placeholder
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by placeholder »

ras4250 wrote: Mon Apr 17, 2023 11:03 pm Has anyone done the new TIERED_2023 Tastytrade offer? https://info.tastytrade.com/tasty-offer

I did not see the terms of the 2022 offer, but these terms say "... from date of the initial deposit of at least $5,000 USD (the “Funds”). The Funds must be deposited as a single transaction prior to the end of the Promotional Period." They do not mention ACAT or transfers.

Is this cash only? Or has anyone done this new 2023 offer with transfer of securities exceeding the value?
There is more information at the link below and acats is mentioned:

https://support.tastyworks.com/support/ ... otion-2022

Note that while the link says 2022 the article itself says 2023 so it might be worth checking to make sure it's as shown.
placeholder
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by placeholder »

hmw wrote: Mon Apr 17, 2023 9:31 pm Taxable
If you haven't used public.com that's probably the best one right now at 4k for 1m+

https://help.public.com/en/articles/649 ... er-account
mggray17
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by mggray17 »

nalor511 wrote: Mon Apr 17, 2023 11:23 pm
hmw wrote: Mon Apr 17, 2023 4:45 pm I have about 1.4 million sitting at Etrade. Where can I move to get a nice bonus? Anyone has any experience with CITI? They are offering $3000 for one million but most reviews are not very good. Will Schwab match the $3000 offer from CITI? I had Schwab accounts in the past. Will Fido match the $3000 offer? Thanks
Neither Schwab nor Fido will match the Citi offer. Fido will likely offer you about $2500 for $1mil. Schwab will match Etrade (generally, not always). Etrade may offer you a retention bonus not to leave, if you ask.
Schwab did in fact match the Citi offer for me. They gave me $2000 for the 500K < 999K tier.
hmw
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by hmw »

placeholder wrote: Tue Apr 18, 2023 12:39 am
hmw wrote: Mon Apr 17, 2023 9:31 pm Taxable
If you haven't used public.com that's probably the best one right now at 4k for 1m+

https://help.public.com/en/articles/649 ... er-account
I have already done public.com.
hmw
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by hmw »

mggray17 wrote: Tue Apr 18, 2023 8:36 am
nalor511 wrote: Mon Apr 17, 2023 11:23 pm
hmw wrote: Mon Apr 17, 2023 4:45 pm I have about 1.4 million sitting at Etrade. Where can I move to get a nice bonus? Anyone has any experience with CITI? They are offering $3000 for one million but most reviews are not very good. Will Schwab match the $3000 offer from CITI? I had Schwab accounts in the past. Will Fido match the $3000 offer? Thanks
Neither Schwab nor Fido will match the Citi offer. Fido will likely offer you about $2500 for $1mil. Schwab will match Etrade (generally, not always). Etrade may offer you a retention bonus not to leave, if you ask.
Schwab did in fact match the Citi offer for me. They gave me $2000 for the 500K < 999K tier.
That is a nice offer. I think Citi has the best offer right now but I gather from reading doctor of credit that opening an account with citi is a huge hassel as everything is manual. Was your match fairly recent? Did you just call Schwab brokerage general number and ask for a transfer bonus? Thanks
nalor511
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by nalor511 »

mggray17 wrote: Tue Apr 18, 2023 8:36 am
nalor511 wrote: Mon Apr 17, 2023 11:23 pm
hmw wrote: Mon Apr 17, 2023 4:45 pm I have about 1.4 million sitting at Etrade. Where can I move to get a nice bonus? Anyone has any experience with CITI? They are offering $3000 for one million but most reviews are not very good. Will Schwab match the $3000 offer from CITI? I had Schwab accounts in the past. Will Fido match the $3000 offer? Thanks
Neither Schwab nor Fido will match the Citi offer. Fido will likely offer you about $2500 for $1mil. Schwab will match Etrade (generally, not always). Etrade may offer you a retention bonus not to leave, if you ask.
Schwab did in fact match the Citi offer for me. They gave me $2000 for the 500K < 999K tier.
Interesting, good to know. They denied me.
abcx
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by abcx »

nalor511 wrote: Tue Apr 18, 2023 1:21 pm
mggray17 wrote: Tue Apr 18, 2023 8:36 am
nalor511 wrote: Mon Apr 17, 2023 11:23 pm
hmw wrote: Mon Apr 17, 2023 4:45 pm I have about 1.4 million sitting at Etrade. Where can I move to get a nice bonus? Anyone has any experience with CITI? They are offering $3000 for one million but most reviews are not very good. Will Schwab match the $3000 offer from CITI? I had Schwab accounts in the past. Will Fido match the $3000 offer? Thanks
Neither Schwab nor Fido will match the Citi offer. Fido will likely offer you about $2500 for $1mil. Schwab will match Etrade (generally, not always). Etrade may offer you a retention bonus not to leave, if you ask.
Schwab did in fact match the Citi offer for me. They gave me $2000 for the 500K < 999K tier.
Interesting, good to know. They denied me.
Schwab also matched me the Citi offer.
nalor511
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by nalor511 »

abcx wrote: Tue Apr 18, 2023 1:58 pm
nalor511 wrote: Tue Apr 18, 2023 1:21 pm
mggray17 wrote: Tue Apr 18, 2023 8:36 am
nalor511 wrote: Mon Apr 17, 2023 11:23 pm
hmw wrote: Mon Apr 17, 2023 4:45 pm I have about 1.4 million sitting at Etrade. Where can I move to get a nice bonus? Anyone has any experience with CITI? They are offering $3000 for one million but most reviews are not very good. Will Schwab match the $3000 offer from CITI? I had Schwab accounts in the past. Will Fido match the $3000 offer? Thanks
Neither Schwab nor Fido will match the Citi offer. Fido will likely offer you about $2500 for $1mil. Schwab will match Etrade (generally, not always). Etrade may offer you a retention bonus not to leave, if you ask.
Schwab did in fact match the Citi offer for me. They gave me $2000 for the 500K < 999K tier.
Interesting, good to know. They denied me.
Schwab also matched me the Citi offer.
Curious. When? I was denied 12/2022
abcx
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by abcx »

nalor511 wrote: Tue Apr 18, 2023 2:05 pm
abcx wrote: Tue Apr 18, 2023 1:58 pm
nalor511 wrote: Tue Apr 18, 2023 1:21 pm
mggray17 wrote: Tue Apr 18, 2023 8:36 am
nalor511 wrote: Mon Apr 17, 2023 11:23 pm

Neither Schwab nor Fido will match the Citi offer. Fido will likely offer you about $2500 for $1mil. Schwab will match Etrade (generally, not always). Etrade may offer you a retention bonus not to leave, if you ask.
Schwab did in fact match the Citi offer for me. They gave me $2000 for the 500K < 999K tier.
Interesting, good to know. They denied me.
Schwab also matched me the Citi offer.
Curious. When? I was denied 12/2022
Jan 2023.
RMO87
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by RMO87 »

Hello, new to the transfer bonus scene and had a quick question. I have $105K in VBILX (VG Intermediate-Term Bond Index) with Vanguard brokerage. Would this be an easy transfer to another brokerage, or would it be best to put this into an ETF first?

Thanks a bunch!
Ryan
SlowMovingInvestor
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by SlowMovingInvestor »

RMO87 wrote: Tue Apr 18, 2023 3:03 pm Hello, new to the transfer bonus scene and had a quick question. I have $105K in VBILX (VG Intermediate-Term Bond Index) with Vanguard brokerage. Would this be an easy transfer to another brokerage, or would it be best to put this into an ETF first?

Thanks a bunch!
Ryan
I would convert to an ETF in any case. MFs are a little harder to transfer in general, and may have fees when selling elsewhere etc.
User avatar
jeffyscott
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by jeffyscott »

RMO87 wrote: Tue Apr 18, 2023 3:03 pm Hello, new to the transfer bonus scene and had a quick question. I have $105K in VBILX (VG Intermediate-Term Bond Index) with Vanguard brokerage. Would this be an easy transfer to another brokerage, or would it be best to put this into an ETF first?

Thanks a bunch!
Ryan
It probably depends on where you are transferring and what your longer term plans are, as well as your personal preferences regarding ETFs vs. MFs.

Schwab and Fidelity have no fees for selling any mutual funds, but would have transaction fees to buy more VBILX. E-Trade has no fees to either buy or sell.

Are you just planning to move elsewhere and stay or do you plan to continually transfer in order to collect bonuses. If it's the latter, then the ETF may give you more options.

But, I believe even at Vanguard, you can't do a conversion with bond ETFs. If that's true, then you would have to sell the fund and buy the ETF even there. So there's less reason to make the change proactively.
SlowMovingInvestor
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by SlowMovingInvestor »

jeffyscott wrote: Tue Apr 18, 2023 4:16 pm
But, I believe even at Vanguard, you can't do a conversion with bond ETFs. If that's true, then you would have to sell the fund and buy the ETF even there. So there's less reason to make the change proactively.
Some Bond MFs are convertible to ETFs. But not VBILX, apparently. So the question is moot.

https://www.vanguard.com/pdf/etfpdf.pdf ... XX:X:XX:XX

Although OP may have a loss in VBILX right now, so could sell it and buy the ETF (maybe after 30 days to avoid a wash sale)
CatPak
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by CatPak »

M1 has another promotion, which is basically the same as their previous one with later dates.

https://m1.com/transfer/promo-15000/

I always have issues with cost basis when dealing with Apex though, so I'm debating if it's worth it. I wonder if it'll be smoother if I transfer from Public.com where it's Apex to Apex. At least Public.com's support is much better than M1's so they were a better help with cost basis issues.
EnjoyIt
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by EnjoyIt »

CatPak wrote: Tue Apr 18, 2023 6:45 pm M1 has another promotion, which is basically the same as their previous one with later dates.

https://m1.com/transfer/promo-15000/

I always have issues with cost basis when dealing with Apex though, so I'm debating if it's worth it. I wonder if it'll be smoother if I transfer from Public.com where it's Apex to Apex. At least Public.com's support is much better than M1's so they were a better help with cost basis issues.
Thanks for sharing. This may be perfect for us considering the time frame.

One thing I find interesting is that you can fund it in June and get paid in March of next year. This becomes like a 9 month holding period.
A time to EVALUATE your jitters: | viewtopic.php?p=1139732#p1139732
hmw
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by hmw »

CatPak wrote: Tue Apr 18, 2023 6:45 pm M1 has another promotion, which is basically the same as their previous one with later dates.

https://m1.com/transfer/promo-15000/

I always have issues with cost basis when dealing with Apex though, so I'm debating if it's worth it. I wonder if it'll be smoother if I transfer from Public.com where it's Apex to Apex. At least Public.com's support is much better than M1's so they were a better help with cost basis issues.
Thanks for sharing. Nice bonus.

I have not used M1 before. I don't quite understand how its platform works. It says something about not able to do tax loss harvesting, and the customer will have to use their preset portfolios? Can I transfer my random collections of stocks and ETFs to MI and just be left alone for the holding period then transfer out?
mggray17
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by mggray17 »

hmw wrote: Tue Apr 18, 2023 9:20 am
mggray17 wrote: Tue Apr 18, 2023 8:36 am
nalor511 wrote: Mon Apr 17, 2023 11:23 pm
hmw wrote: Mon Apr 17, 2023 4:45 pm I have about 1.4 million sitting at Etrade. Where can I move to get a nice bonus? Anyone has any experience with CITI? They are offering $3000 for one million but most reviews are not very good. Will Schwab match the $3000 offer from CITI? I had Schwab accounts in the past. Will Fido match the $3000 offer? Thanks
Neither Schwab nor Fido will match the Citi offer. Fido will likely offer you about $2500 for $1mil. Schwab will match Etrade (generally, not always). Etrade may offer you a retention bonus not to leave, if you ask.
Schwab did in fact match the Citi offer for me. They gave me $2000 for the 500K < 999K tier.
That is a nice offer. I think Citi has the best offer right now but I gather from reading doctor of credit that opening an account with citi is a huge hassel as everything is manual. Was your match fairly recent? Did you just call Schwab brokerage general number and ask for a transfer bonus? Thanks
I emailed the rep that helped me with my transfer's last year. She is in Austin, Tx, but her title is "Vice President, Financial Consultant | National Branch: New York & New Jersey." I'm in NJ and believe she is now my dedicated rep. It was initiated on March 22, 2023.
bbrock
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by bbrock »

hmw wrote: Tue Apr 18, 2023 9:51 pm
CatPak wrote: Tue Apr 18, 2023 6:45 pm M1 has another promotion, which is basically the same as their previous one with later dates.

https://m1.com/transfer/promo-15000/

I always have issues with cost basis when dealing with Apex though, so I'm debating if it's worth it. I wonder if it'll be smoother if I transfer from Public.com where it's Apex to Apex. At least Public.com's support is much better than M1's so they were a better help with cost basis issues.
Thanks for sharing. Nice bonus.

I have not used M1 before. I don't quite understand how its platform works. It says something about not able to do tax loss harvesting, and the customer will have to use their preset portfolios? Can I transfer my random collections of stocks and ETFs to MI and just be left alone for the holding period then transfer out?
For all you use specific ID, M1 uses minimum tax cost basis. If you don’t plan to sell, then it wouldn’t be a problem.
bbrock
hmw
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by hmw »

bbrock wrote: Wed Apr 19, 2023 9:34 am
hmw wrote: Tue Apr 18, 2023 9:51 pm
CatPak wrote: Tue Apr 18, 2023 6:45 pm M1 has another promotion, which is basically the same as their previous one with later dates.

https://m1.com/transfer/promo-15000/

I always have issues with cost basis when dealing with Apex though, so I'm debating if it's worth it. I wonder if it'll be smoother if I transfer from Public.com where it's Apex to Apex. At least Public.com's support is much better than M1's so they were a better help with cost basis issues.
Thanks for sharing. Nice bonus.

I have not used M1 before. I don't quite understand how its platform works. It says something about not able to do tax loss harvesting, and the customer will have to use their preset portfolios? Can I transfer my random collections of stocks and ETFs to MI and just be left alone for the holding period then transfer out?
For all you use specific ID, M1 uses minimum tax cost basis. If you don’t plan to sell, then it wouldn’t be a problem.
If I don't sell, will my tax basis be intact when I transfer out of M1 later?
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