The Final, Definitive Thread on Brokerage Transfer Bonuses

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EnjoyIt
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Re: Transfer bonus

Post by EnjoyIt »

UncleLeo wrote: Fri Aug 05, 2022 3:23 am
whodidntante wrote: Thu Aug 04, 2022 11:23 pm
UncleLeo wrote: Tue Aug 02, 2022 6:50 pm
tj wrote: Mon Aug 01, 2022 10:05 am
02nz wrote: Sat Jul 30, 2022 4:39 pm

Call E*Trade, by phone you can typically get a better offer than the one on the website.

Agree re: converting to ETF first.
No need to call, just click the better link:

https://us.etrade.com/what-we-offer/how ... ra-cfc3500
Can the $1 mm threshold include Roth IRA accounts? For example, if I have a brokerage account and 2 roth IRA accounts with Vanguard that in total exceed $1 mm, but each is lower than that threshold would I be able to get the bonus if I transfer all accounts to the broker offering the bonus?
I conducted a highly similar experiment in the name of science and posted the results to this very thread. Since no Turing-test-passing intelligence should be subjected to trying to locate things using the terrible forum software here, I'll reach back into my mental search index and save you some effort. The answer is yes, or at least, it was yes for me. Good luck.
Thanks. Now I wonder if the transfer even has to be from the same brokerage. In other words, if I move 500k from Vanguard and another 500k from Fidelity to Etrade/Schwab within a certain time frame, would that count?
I have done that
A time to EVALUATE your jitters: | viewtopic.php?p=1139732#p1139732
Luckywon
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Re: Transfer bonus

Post by Luckywon »

UncleLeo wrote: Fri Aug 05, 2022 3:23 am Thanks. Now I wonder if the transfer even has to be from the same brokerage. In other words, if I move 500k from Vanguard and another 500k from Fidelity to Etrade/Schwab within a certain time frame, would that count?
In my experience including at E-Trade and Schwab, the source(s) of the money did not matter, just the net amount of funds incoming within the time frame.
placeholder
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by placeholder »

Right they give you a funding window and you can move from multiple brokerages or bank accounts so it's the total at the close of that window.
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TomatoTomahto
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by TomatoTomahto »

I am going to move from Vanguard to Schwab, Merrill, or Wells. We already have accounts at Fidelity and I don't want to have a single point of failure. The accounts are fbo 3 different people (mostly 2) and are a combination of taxable (trust) and tax deferred.

Round numbers, total is mid 7 digit.

Any recommendations? TIA.
I get the FI part but not the RE part of FIRE.
tj
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by tj »

TomatoTomahto wrote: Sat Aug 06, 2022 11:00 am I am going to move from Vanguard to Schwab, Merrill, or Wells. We already have accounts at Fidelity and I don't want to have a single point of failure. The accounts are fbo 3 different people (mostly 2) and are a combination of taxable (trust) and tax deferred.

Round numbers, total is mid 7 digit.

Any recommendations? TIA.
Whoever will match the best offer you can find, or give you an even better one.
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Leif
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Leif »

TomatoTomahto wrote: Sat Aug 06, 2022 11:00 am We already have accounts at Fidelity and I don't want to have a single point of failure.
I use to have the same thinking (Fidelity & Vanguard). But having had it with Vanguard I did move to Fidelity. I didn't realize, until after the move, how nice it is to have my accounts under one roof. I have a few bucks at a bank, along with some paper bonds, to carry me if some short term disruption happened at Fidelity.
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TomatoTomahto
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by TomatoTomahto »

Leif wrote: Sat Aug 06, 2022 11:10 am
TomatoTomahto wrote: Sat Aug 06, 2022 11:00 am We already have accounts at Fidelity and I don't want to have a single point of failure.
I use to have the same thinking (Fidelity & Vanguard). But having had it with Vanguard I did move to Fidelity. I didn't realize, until after the move, how nice it is to have my accounts under one roof. I have a few bucks at a bank to carry me if some short term disruption happened at Fidelity.
In my experience, Fidelity moves slowly to make funds available. They're fine for scheduled transactions (eg, 401k) but they have been responsible for my one bounced payment in the past 50 years, literally. Their CMA is, imo, crap.

The benefit of being under one roof is a factor, but in the 21st century, not decisive. Just my 2 cents, there's obviously room to disagree.
I get the FI part but not the RE part of FIRE.
bbrock
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by bbrock »

TomatoTomahto wrote: Sat Aug 06, 2022 11:18 am
Leif wrote: Sat Aug 06, 2022 11:10 am
TomatoTomahto wrote: Sat Aug 06, 2022 11:00 am We already have accounts at Fidelity and I don't want to have a single point of failure.
I use to have the same thinking (Fidelity & Vanguard). But having had it with Vanguard I did move to Fidelity. I didn't realize, until after the move, how nice it is to have my accounts under one roof. I have a few bucks at a bank to carry me if some short term disruption happened at Fidelity.
In my experience, Fidelity moves slowly to make funds available. They're fine for scheduled transactions (eg, 401k) but they have been responsible for my one bounced payment in the past 50 years, literally. Their CMA is, imo, crap.

The benefit of being under one roof is a factor, but in the 21st century, not decisive. Just my 2 cents, there's obviously room to disagree.
I’m exclusively with Vanguard about to move at least the taxable brokerage to E-Trade, but Idk if Vanguard is any quicker to make funds available. I think it’s just a waiting game for funds to clear, regardless of institution.
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anon_investor
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by anon_investor »

TomatoTomahto wrote: Sat Aug 06, 2022 11:18 am
Leif wrote: Sat Aug 06, 2022 11:10 am
TomatoTomahto wrote: Sat Aug 06, 2022 11:00 am We already have accounts at Fidelity and I don't want to have a single point of failure.
I use to have the same thinking (Fidelity & Vanguard). But having had it with Vanguard I did move to Fidelity. I didn't realize, until after the move, how nice it is to have my accounts under one roof. I have a few bucks at a bank to carry me if some short term disruption happened at Fidelity.
In my experience, Fidelity moves slowly to make funds available. They're fine for scheduled transactions (eg, 401k) but they have been responsible for my one bounced payment in the past 50 years, literally. Their CMA is, imo, crap.

The benefit of being under one roof is a factor, but in the 21st century, not decisive. Just my 2 cents, there's obviously room to disagree.
I have been tempted to use Fidelity's CMA in lieu of a checking account, especially since MMF rates are now over 2%. Paying bills out of my Ally savings account has worked flawlessly for years now, and 1.6% is nothing to sneeze about. So Fidelity takes a long time to make deposits available for withdrawal?
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TomatoTomahto
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by TomatoTomahto »

anon_investor wrote: Sat Aug 06, 2022 11:47 am So Fidelity takes a long time to make deposits available for withdrawal?
The time I got "caught" is when I expected a deposit (ACH from BoA) to be available in 2, at most 3, business days. I had significant assets at Fidelity at the time, but what I didn't realize is that it didn't matter, what mattered was the policies at UMB (which Fidelity uses for their CMA). So, my "personal rep" at Fidelity couldn't do a thing for me.
I get the FI part but not the RE part of FIRE.
sycamore
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by sycamore »

tj wrote: Sat Aug 06, 2022 11:03 am
TomatoTomahto wrote: Sat Aug 06, 2022 11:00 am I am going to move from Vanguard to Schwab, Merrill, or Wells. We already have accounts at Fidelity and I don't want to have a single point of failure. The accounts are fbo 3 different people (mostly 2) and are a combination of taxable (trust) and tax deferred.

Round numbers, total is mid 7 digit.

Any recommendations? TIA.
Whoever will match the best offer you can find, or give you an even better one.
+1

Of the ones you list, I'd go with Schwab. I have an account with them; got them to match a bonus offer from E*Trade.

No experience with Wells. Only reason I have Merrill Edge is to get better cash back rewards with a Bank of America's credit card.
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indexfundfan
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by indexfundfan »

TomatoTomahto wrote: Sat Aug 06, 2022 12:04 pm
anon_investor wrote: Sat Aug 06, 2022 11:47 am So Fidelity takes a long time to make deposits available for withdrawal?
The time I got "caught" is when I expected a deposit (ACH from BoA) to be available in 2, at most 3, business days. I had significant assets at Fidelity at the time, but what I didn't realize is that it didn't matter, what mattered was the policies at UMB (which Fidelity uses for their CMA). So, my "personal rep" at Fidelity couldn't do a thing for me.
It does take a long time (5 days for me) for the money to be available. But if you have a separate margin account for your investments, you can pull the money into the investment account, then do an internal transfer to your spending account. That way, the money is available immediately in the spending account.
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bbrock
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by bbrock »

I am awaiting Schwab to match the offer I got from the personal rep. at E*Trade ($4k on $1 m. - $1.999 m.). I assume they will. If they did match, I would go with Schwab, wait the 12 mo., then go to E*Trade at whatever offer they advertise or the rep. could offer.

However, I realize their offers are for new account holders. I made the mistake that once I got the E*Trade rep's offer, I opened (have not funded) an account via my computer. So, if Schwab does end up matching, and I go with Schwab, and then plan to transfer to E*Trade 12 mo. later, I would not be considered a new account holder. Thus, I'd probably have to go with E*Trade, and play off of Schwab in a year to see what they will offer (I have not opened anything at Schwab; only have spoken to a rep. at the 800# and provided him my contact info.).
bbrock
BuddyJet
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by BuddyJet »

TomatoTomahto wrote: Sat Aug 06, 2022 11:00 am I am going to move from Vanguard to Schwab, Merrill, or Wells. We already have accounts at Fidelity and I don't want to have a single point of failure. The accounts are fbo 3 different people (mostly 2) and are a combination of taxable (trust) and tax deferred.

Round numbers, total is mid 7 digit.

Any recommendations? TIA.
+1 on Schwab from the three listed. My rep matched offers. Interface takes some getting used to though.

Btw, I use my Fidelity brokerage account for checking rather than their CMA. With spaxx currently yielding 1.6% as my core position and a small margin eligible position, I use them as my main checking.

You didn’t mention E*Trade but they are my second choice after Fidelity.
People say nothing is impossible. I do nothing all day.
Kookaburra
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Re: Transfer bonus

Post by Kookaburra »

UncleLeo wrote: Fri Aug 05, 2022 3:23 am
whodidntante wrote: Thu Aug 04, 2022 11:23 pm
UncleLeo wrote: Tue Aug 02, 2022 6:50 pm
tj wrote: Mon Aug 01, 2022 10:05 am
02nz wrote: Sat Jul 30, 2022 4:39 pm

Call E*Trade, by phone you can typically get a better offer than the one on the website.

Agree re: converting to ETF first.
No need to call, just click the better link:

https://us.etrade.com/what-we-offer/how ... ra-cfc3500
Can the $1 mm threshold include Roth IRA accounts? For example, if I have a brokerage account and 2 roth IRA accounts with Vanguard that in total exceed $1 mm, but each is lower than that threshold would I be able to get the bonus if I transfer all accounts to the broker offering the bonus?
I conducted a highly similar experiment in the name of science and posted the results to this very thread. Since no Turing-test-passing intelligence should be subjected to trying to locate things using the terrible forum software here, I'll reach back into my mental search index and save you some effort. The answer is yes, or at least, it was yes for me. Good luck.
Thanks. Now I wonder if the transfer even has to be from the same brokerage. In other words, if I move 500k from Vanguard and another 500k from Fidelity to Etrade/Schwab within a certain time frame, would that count?
Typically, the receiving entity only looks at “net deposits” over an xx-day period, without regard for source of funds.
calwatch
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by calwatch »

calwatch wrote: Mon Jul 25, 2022 2:49 pm
calwatch wrote: Tue Jul 12, 2022 7:44 pm Anyone having issues ACATing from Stockpile out? I am having trouble with SoFi taking my transfer. I think they are confused that Apex Clearing is the holder of record. Would communicating via online chat or phone be better? Any other brokers where Stockpile transfers might be good? I am thinking eTrade but their non-retirement bonus is not that great and has been higher in the past. The other option might be to ACAT over to Fidelity or Ameritrade as a stop gap, but I wonder if they reimburse ACAT fees even when you aren't taking advantage of a bonus.
To update I opened up a support ticket and they asked for a brokerage statement. The transfer took about a week after the paperwork was submitted, as expected, but impressively the cost basis was updated immediately. SoFi is not particularly sophisticated but it will work for buy and hold.
My bonus paid out at the start of the month as expected. SoFi is a good option if you already have an account for their high yield checking, but their interface makes JP Morgan Self Directed look advanced.
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yatesd
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by yatesd »

Still happy with my transition from Vanguard to Schwab 6-months later...I have consolidated most accounts with them including a few IRA's, Checking, 529, etc.

I like that I can have a single dashboard, and a global no fee debit card. 24-hour service via phone, chat, etc is the main advantage for me.
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Leif
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Leif »

TomatoTomahto wrote: Sat Aug 06, 2022 12:04 pm
anon_investor wrote: Sat Aug 06, 2022 11:47 am So Fidelity takes a long time to make deposits available for withdrawal?
The time I got "caught" is when I expected a deposit (ACH from BoA) to be available in 2, at most 3, business days. I had significant assets at Fidelity at the time, but what I didn't realize is that it didn't matter, what mattered was the policies at UMB (which Fidelity uses for their CMA). So, my "personal rep" at Fidelity couldn't do a thing for me.
I had just the opposite experience. I made a mistake and let the balance in my Fidelity checking drop too low. I received a call from Fidelity telling me the balance was too low to cover a check I wrote. I was told they see I have money in another account and would I like to have them transfer some money over to cover the check.

Fidelity, however, does take too long to clear check deposits for withdrawal. Particularly in a case like mine where I deposit the same check ever month.
spammagnet
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by spammagnet »

Leif wrote: Sun Aug 07, 2022 9:59 am... Fidelity, however, does take too long to clear check deposits for withdrawal. Particularly in a case like mine where I deposit the same check ever month.
That is inconsistent with my experience. How do you deposit the checks?
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Leif
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Leif »

spammagnet wrote: Sun Aug 07, 2022 11:47 am
Leif wrote: Sun Aug 07, 2022 9:59 am... Fidelity, however, does take too long to clear check deposits for withdrawal. Particularly in a case like mine where I deposit the same check ever month.
That is inconsistent with my experience. How do you deposit the checks?
I deposit via their phone app.

Be sure you are not confusing being able to invest the deposited money vs. withdrawing the deposited money. If you want to invest the deposited money you only wait about 1-2 days. Sorry for derailing the thread.
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by bbrock »

Ally for checking/savings. No problems.
bbrock
nalor511
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Re: Transfer bonus

Post by nalor511 »

UncleLeo wrote: Fri Aug 05, 2022 3:23 am
whodidntante wrote: Thu Aug 04, 2022 11:23 pm
UncleLeo wrote: Tue Aug 02, 2022 6:50 pm
tj wrote: Mon Aug 01, 2022 10:05 am
02nz wrote: Sat Jul 30, 2022 4:39 pm

Call E*Trade, by phone you can typically get a better offer than the one on the website.

Agree re: converting to ETF first.
No need to call, just click the better link:

https://us.etrade.com/what-we-offer/how ... ra-cfc3500
Can the $1 mm threshold include Roth IRA accounts? For example, if I have a brokerage account and 2 roth IRA accounts with Vanguard that in total exceed $1 mm, but each is lower than that threshold would I be able to get the bonus if I transfer all accounts to the broker offering the bonus?
I conducted a highly similar experiment in the name of science and posted the results to this very thread. Since no Turing-test-passing intelligence should be subjected to trying to locate things using the terrible forum software here, I'll reach back into my mental search index and save you some effort. The answer is yes, or at least, it was yes for me. Good luck.
Thanks. Now I wonder if the transfer even has to be from the same brokerage. In other words, if I move 500k from Vanguard and another 500k from Fidelity to Etrade/Schwab within a certain time frame, would that count?
As long as your transfers are from another brokerage it does not all have to be from the same one
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by iamblessed »

Will Fidelity match bonuses from Etrade?
tj
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by tj »

iamblessed wrote: Mon Aug 08, 2022 10:22 pm Will Fidelity match bonuses from Etrade?
No, but Schwab should.
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Leif
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Leif »

tj wrote: Mon Aug 08, 2022 10:29 pm
iamblessed wrote: Mon Aug 08, 2022 10:22 pm Will Fidelity match bonuses from Etrade?
No, but Schwab should.
Fidelity matched my eTrade bonus. That was at the end of last year. Find your best bonus and contact Fidelity. But you will need to transfer >= 1 million. LadyGeek gives a detailed description of her experience. See here.
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anon_investor
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by anon_investor »

Leif wrote: Mon Aug 08, 2022 10:40 pm
tj wrote: Mon Aug 08, 2022 10:29 pm
iamblessed wrote: Mon Aug 08, 2022 10:22 pm Will Fidelity match bonuses from Etrade?
No, but Schwab should.
Fidelity matched my eTrade bonus. That was at the end of last year. Find your best bonus and contact Fidelity. But you will need to transfer >= 1 million. LadyGeek gives a detailed description of her experience. See here.
Now I just need $1 million to transfer!
chipaway
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by chipaway »

Has anyone received a bonus from Fidelity for converting their existing Fidelity 401k to an IRA? I thought I'd heard of that happening but don't remember the thread where I read it.

My Fidelity advisor asked me to do that and said that he would receive recognition of some sort. Not sure what the recognition was because he didn't spell it out. But I didn't receive anything for moving the money. Wondering if I could have asked for a bonus.
HomeStretch
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by HomeStretch »

TomatoTomahto wrote: Sat Aug 06, 2022 12:04 pm
anon_investor wrote: Sat Aug 06, 2022 11:47 am So Fidelity takes a long time to make deposits available for withdrawal?
The time I got "caught" is when I expected a deposit (ACH from BoA) to be available in 2, at most 3, business days. I had significant assets at Fidelity at the time, but what I didn't realize is that it didn't matter, what mattered was the policies at UMB (which Fidelity uses for their CMA). So, my "personal rep" at Fidelity couldn't do a thing for me.
Your point about UMB being slow to make CMA funds available is a good one.

I just ran into the same thing at Fidelity. I pulled $ via ACH into a new CMA account from BoA. $ were deposited into the ACH on Monday 8/1 and will not be available until today Tues 8/9. Had a small direct debit fail on Friday 8/4 as the CMA’s available balance was $0.93 short.

The Fidelity reps don’t have a great understanding of the UMB/Elan products (CMA, 2% VISA). They also don’t have a lot of accuracy/visibility for UMB products when answering questions, such as when funds will be available or their recent fail for me when advising that an agent/POA can use CMA bill pay (not true).

Edit to correct VISA is from Elan, not UMB.
Last edited by HomeStretch on Tue Aug 09, 2022 1:30 pm, edited 1 time in total.
tj
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by tj »

HomeStretch wrote: Tue Aug 09, 2022 6:19 am
TomatoTomahto wrote: Sat Aug 06, 2022 12:04 pm
anon_investor wrote: Sat Aug 06, 2022 11:47 am So Fidelity takes a long time to make deposits available for withdrawal?
The time I got "caught" is when I expected a deposit (ACH from BoA) to be available in 2, at most 3, business days. I had significant assets at Fidelity at the time, but what I didn't realize is that it didn't matter, what mattered was the policies at UMB (which Fidelity uses for their CMA). So, my "personal rep" at Fidelity couldn't do a thing for me.
Your point about UMB being slow to make CMA funds available is a good one.

I just ran into the same thing at Fidelity. I pulled $ via ACH into a new CMA account from BoA. $ were deposited into the ACH on Monday 8/1 and will not be available until today Tues 8/9. Had a small direct debit fail on Friday 8/4 as the CMA’s available balance was $0.93 short.

The Fidelity reps don’t have a great understanding of the UMB products (CMA, 2% VISA). They also don’t have a lot of accuracy/visibility for UMB products when answering questions, such as when funds will be available or their recent fail for me when advising that an agent/POA can use CMA bill pay (not true).
The credit card has nothing to do with UMB. It's Elan.
mrken
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by mrken »

Is the TD Ameritrade NC1000 bonus still live?
https://www.tdameritrade.com/client/referral/index.html

Doctor of Credit shows it as expired for some reason. Would an ACATS transfer from Schwab be a qualifying deposit?
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stoub
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by stoub »

mrken wrote: Tue Aug 09, 2022 10:03 pm Is the TD Ameritrade NC1000 bonus still live?
https://www.tdameritrade.com/client/referral/index.html

Doctor of Credit shows it as expired for some reason. Would an ACATS transfer from Schwab be a qualifying deposit?
I asked TD Ameritrade about this via Messenger and they replied that the bonus is live but transfers from Schwab aren't eligible. Details below.

"That promotion is valid. The referrer would not receive a promotional cash award, but the new client may receive a cash award depending on the amount of their deposit. ... In order to refer you, your friend must be logged into their TD Ameritrade account and navigate to Client Services > Refer a Friend. They will be prompted to enter your name and E-mail address. You will then receive an invitation E-mail, containing a link to open an account. You will want to open your account using that link so that the referral promotion will be automatically applied to your account."
No, assets from Charles Schwab do not qualify for this promotion.
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pre
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by pre »

stoub wrote: Thu Aug 11, 2022 11:07 am
mrken wrote: Tue Aug 09, 2022 10:03 pm Is the TD Ameritrade NC1000 bonus still live?
https://www.tdameritrade.com/client/referral/index.html

Doctor of Credit shows it as expired for some reason. Would an ACATS transfer from Schwab be a qualifying deposit?
I asked TD Ameritrade about this via Messenger and they replied that the bonus is live but transfers from Schwab aren't eligible. Details below.

"That promotion is valid. The referrer would not receive a promotional cash award, but the new client may receive a cash award depending on the amount of their deposit. ... In order to refer you, your friend must be logged into their TD Ameritrade account and navigate to Client Services > Refer a Friend. They will be prompted to enter your name and E-mail address. You will then receive an invitation E-mail, containing a link to open an account. You will want to open your account using that link so that the referral promotion will be automatically applied to your account."
No, assets from Charles Schwab do not qualify for this promotion.
Definitely misinformation from the TDA rep -- I've done several transfers from Schwab for me and family members this year. All earned the bonus...
Last edited by pre on Wed Aug 17, 2022 9:13 pm, 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 »

pre wrote: Fri Nov 12, 2021 9:13 pm Looks like the Chase Private Client (CPC) $2k for $250k transfer is back until January 19, 2022

Pretty good deal, requires 90 day holding, but bonus credits in 40.

Image
Offer has returned, expiring on October 19, 2022 -- I'd recommend generating a coupon/promo code even if you're somewhat considering it, as Chase pulled the offer/website a month early last year. The already generated coupon won't expire until October

https://www.doctorofcredit.com/chase-12 ... ate-client
mrken
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by mrken »

pre wrote: Wed Aug 17, 2022 9:06 pm
stoub wrote: Thu Aug 11, 2022 11:07 am
mrken wrote: Tue Aug 09, 2022 10:03 pm Is the TD Ameritrade NC1000 bonus still live?
https://www.tdameritrade.com/client/referral/index.html

Doctor of Credit shows it as expired for some reason. Would an ACATS transfer from Schwab be a qualifying deposit?
I asked TD Ameritrade about this via Messenger and they replied that the bonus is live but transfers from Schwab aren't eligible. Details below.

"That promotion is valid. The referrer would not receive a promotional cash award, but the new client may receive a cash award depending on the amount of their deposit. ... In order to refer you, your friend must be logged into their TD Ameritrade account and navigate to Client Services > Refer a Friend. They will be prompted to enter your name and E-mail address. You will then receive an invitation E-mail, containing a link to open an account. You will want to open your account using that link so that the referral promotion will be automatically applied to your account."
No, assets from Charles Schwab do not qualify for this promotion.
Definitely misinformation from the TDA rep -- I've done several transfers from Schwab for me and family members this year. All earned the bonus...
Interesting. When was your most recent transfer? Did Schwab charge the outbound transfer fee?
Leesbro63
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Leesbro63 »

pre wrote: Wed Aug 17, 2022 9:12 pm
pre wrote: Fri Nov 12, 2021 9:13 pm Looks like the Chase Private Client (CPC) $2k for $250k transfer is back until January 19, 2022

Pretty good deal, requires 90 day holding, but bonus credits in 40.

Image
Offer has returned, expiring on October 19, 2022 -- I'd recommend generating a coupon/promo code even if you're somewhat considering it, as Chase pulled the offer/website a month early last year. The already generated coupon won't expire until October

https://www.doctorofcredit.com/chase-12 ... ate-client
I did this before Covid…maybe 3 years ago. Closed the account shortly after the bonus paid. Can I do it again?
student
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by student »

Just got an email from Citi about Citi Self Invest. I didn't even know it exists. It is offering transfer bonus.

New-to-Citi Funding Cash Bonus
$10,000 – $49,999 $100
$50,000 – $199,999 $200
$200,000 or more $500

Some of you may be interested.
OHWantToRetire
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by OHWantToRetire »

I just tried to the Chase link to the $2,000 offer and don't see it. Offer pulled that quickly?
student
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by student »

OHWantToRetire wrote: Tue Aug 23, 2022 3:56 pm I just tried to the Chase link to the $2,000 offer and don't see it. Offer pulled that quickly?
According to https://www.creditdonkey.com/chase-bank ... ate-client expired...
tj
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by tj »

student wrote: Fri Aug 19, 2022 6:34 pm Just got an email from Citi about Citi Self Invest. I didn't even know it exists. It is offering transfer bonus.

New-to-Citi Funding Cash Bonus
$10,000 – $49,999 $100
$50,000 – $199,999 $200
$200,000 or more $500

Some of you may be interested.
Wouldnt you rather get $500 for 50k?

https://banking.citi.com/cbol/investmen ... efault.htm
User avatar
pre
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by pre »

OHWantToRetire wrote: Tue Aug 23, 2022 3:56 pm I just tried to the Chase link to the $2,000 offer and don't see it. Offer pulled that quickly?
Works fine for me. Try Chrome Incognito or another browser.

Else feel free to PM your email and I can have it send you the offer/coupon code
student
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by student »

tj wrote: Tue Aug 23, 2022 4:25 pm
student wrote: Fri Aug 19, 2022 6:34 pm Just got an email from Citi about Citi Self Invest. I didn't even know it exists. It is offering transfer bonus.

New-to-Citi Funding Cash Bonus
$10,000 – $49,999 $100
$50,000 – $199,999 $200
$200,000 or more $500

Some of you may be interested.
Wouldnt you rather get $500 for 50k?

https://banking.citi.com/cbol/investmen ... efault.htm
Yes. I would, if I have the money. Do you have experience with Citi? Their credit card seems ok but I have heard some complaints about their high yield savings account.
abracadabra11
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by abracadabra11 »

Leesbro63 wrote: Thu Aug 18, 2022 4:03 am
pre wrote: Wed Aug 17, 2022 9:12 pm
pre wrote: Fri Nov 12, 2021 9:13 pm Looks like the Chase Private Client (CPC) $2k for $250k transfer is back until January 19, 2022

Pretty good deal, requires 90 day holding, but bonus credits in 40.

Image
Offer has returned, expiring on October 19, 2022 -- I'd recommend generating a coupon/promo code even if you're somewhat considering it, as Chase pulled the offer/website a month early last year. The already generated coupon won't expire until October

https://www.doctorofcredit.com/chase-12 ... ate-client
I did this before Covid…maybe 3 years ago. Closed the account shortly after the bonus paid. Can I do it again?
Doesn't the citi personal wealth advisor account fee vary from 0.5% to 2% of AUM?
kurthauer
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by kurthauer »

May be of interest to some. Just got off the phone with Merrill. Apparently my bonus is being denied for “recycled assets”. I’d signed up for the 250k-1k and Roth 100k-400 offer in march. Confirmed everything with the rep prior to and after transfer. Assets posted in April come July no bonus. Emailed the rep no response. Called in a few weeks later told the rep was emailed/voicemails and would respond. Nothing. Few more weeks and my call today another rep said it was denied on my taxable for “recycling “ for taxable Roth was less clear as they had asked for info that the rep never provided or contacted me about.

I’d had a similar problem in 2020 but it seemed they were more concerned I’d gotten a bonus in 2019.

Both times my assets were out of Merrill for about 13-15 months.

Rep I talked to today is supposed to follow up I may get the Roth as I think I changed etfs. Needless to say I may just transfer out and avoid Merrill for a few years but is worth noting that they you may want to wait much longer than a year regardless of what a rep tells you.
student
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by student »

kurthauer wrote: Thu Aug 25, 2022 2:13 pm May be of interest to some. Just got off the phone with Merrill. Apparently my bonus is being denied for “recycled assets”. I’d signed up for the 250k-1k and Roth 100k-400 offer in march. Confirmed everything with the rep prior to and after transfer. Assets posted in April come July no bonus. Emailed the rep no response. Called in a few weeks later told the rep was emailed/voicemails and would respond. Nothing. Few more weeks and my call today another rep said it was denied on my taxable for “recycling “ for taxable Roth was less clear as they had asked for info that the rep never provided or contacted me about.

I’d had a similar problem in 2020 but it seemed they were more concerned I’d gotten a bonus in 2019.

Both times my assets were out of Merrill for about 13-15 months.

Rep I talked to today is supposed to follow up I may get the Roth as I think I changed etfs. Needless to say I may just transfer out and avoid Merrill for a few years but is worth noting that they you may want to wait much longer than a year regardless of what a rep tells you.
Thanks for sharing. I guess sooner or later, the brokerage firms will catch on. I personally have not played the moving around game as I find it stressful, but I did take advantage when I consolidated accounts.
Mike14
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Mike14 »

kurthauer wrote: Thu Aug 25, 2022 2:13 pm I’d had a similar problem in 2020 but it seemed they were more concerned I’d gotten a bonus in 2019.

Both times my assets were out of Merrill for about 13-15 months.
Did you open a new account or add the promo to an existing account?

The terms state a 52 week lookback period, which you easily cleared.
User avatar
pre
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by pre »

Mike14 wrote: Fri Aug 26, 2022 12:02 am
kurthauer wrote: Thu Aug 25, 2022 2:13 pm I’d had a similar problem in 2020 but it seemed they were more concerned I’d gotten a bonus in 2019.

Both times my assets were out of Merrill for about 13-15 months.
Did you open a new account or add the promo to an existing account?

The terms state a 52 week lookback period, which you easily cleared.
The $1k offer earlier this year had an even shorter look back period of 24 weeks.

I'd definitely fight this further. I had an issue with Merrill not paying out several years ago. I believe I emailed the CEO and he delegated the issue to a VP in customer service within a day.

I've heard of others seeking remedy via complaints to the BBB or FINRA, as well.

If you need a screenshot/copy of the Merrill offer website from this year, feel free to PM me, kurthauer.
MrJones
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by MrJones »

Hello all,
A friend is looking to transfer a bit over $200k in taxable. Etrade offers $600 for it, and Fidelity, $100.

Q1: would Fidelity be willing to match Etrade? Older posts in this thread transferring IRA accounts seem to say so, but I was wondering if anyone has recent experience.

Q2: Relatively recently (Aug 2021), ETrade offered $1000 for transferring $200k. So would you all recommend waiting? The current $600 offer from Etrade expires 8/31, so I'm wondering if a new, better offer might show up after that.
MikeG62
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Location: New Jersey

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by MikeG62 »

chipaway wrote: Mon Aug 08, 2022 11:51 pm Has anyone received a bonus from Fidelity for converting their existing Fidelity 401k to an IRA? I thought I'd heard of that happening but don't remember the thread where I read it.

My Fidelity advisor asked me to do that and said that he would receive recognition of some sort. Not sure what the recognition was because he didn't spell it out. But I didn't receive anything for moving the money. Wondering if I could have asked for a bonus.
Yes I did. Bonus was $2,500. This was, however, in 2016. So, may not be applicable these days.

I called my PC rep and told him I had just retired and was looking at options in moving the assets in my employers 401(k) to a rollover IRA. Told him that while I'd like to keep the assets at Fidelity (401k was already with Fidelity), I couldn't in good conscience pass up on a several thousand dollar transfer bonus. He asked if he could get back to me and very shortly thereafter called and said they would give me $2,500. I completed the rollover to an IRA at Fidelity. Since then, I have transferred some money out to hop on some interesting CD opportunities. Even transferred some back when one of those CD's matured. It was several years after the bonus payment before the first transfer was done.

Good luck.
Real Knowledge Comes Only From Experience
MikeG62
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Location: New Jersey

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by MikeG62 »

Leesbro63 wrote: Thu Aug 18, 2022 4:03 am
pre wrote: Wed Aug 17, 2022 9:12 pm
pre wrote: Fri Nov 12, 2021 9:13 pm Looks like the Chase Private Client (CPC) $2k for $250k transfer is back until January 19, 2022

Pretty good deal, requires 90 day holding, but bonus credits in 40.

Image
Offer has returned, expiring on October 19, 2022 -- I'd recommend generating a coupon/promo code even if you're somewhat considering it, as Chase pulled the offer/website a month early last year. The already generated coupon won't expire until October

https://www.doctorofcredit.com/chase-12 ... ate-client
I did this before Covid…maybe 3 years ago. Closed the account shortly after the bonus paid. Can I do it again?
I did this one too - transferred the funds around June of 2020. Last month I transferred the securities back to Fidelity and closed the brokerage account. It was a bit of a pain in the beginning as they wanted more personal information than I was comfortable giving them. Advisor was annoying until I told him and the PC Rep that I was going to terminate the application if they asked me any more questions about my assets at places other than Chase. I left the ETF there for two years because it was easy enough and the Chase PC rep I had transferred and I did not return the call of other folks from Chase that were assigned to my account. Finally decided there was no reason to not move the assets back to Fidelity as I took advantage of no offers or benefits from Chase (other than the $2,000). Chase did assess me a charge of $75 in moving the assets back to Fidelity and closing the account.

Not sure I would go through this process again. :|
Real Knowledge Comes Only From Experience
bbrock
Posts: 1332
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by bbrock »

Schwab will match but not beat E*Trade‘s offer of 4000 to transfer over 1.5 mill. Now it’s a decision of trying either one.
bbrock
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