I would be uncomfortable too.Leesbro63 wrote: ↑Tue Sep 13, 2022 2:00 pmAm I the only one here who would be comfortable doing a $1M bonus transfer to Fido, Schwab, ETrade or Merrill. But not to Public, Robinhood or any of the newer, less established brokerages?BuddyJet wrote: ↑Tue Sep 13, 2022 9:59 am My transfer to Public just settled. The transfer was $1MM+ and I was informed that the bonus would post in 1-2 business days rather than the 30 days the T&C specify. I assume it is because the transfer was at the top tier.
I was also told:
Also, we just launched a new service called Public Premium which is free to all accounts with $20k+ and includes prioritized customer support and a ton of awesome content / data (among other things to be announced shortly).
The premium level may help my service concerns. FWIW, I did contact their customer service via email and got a real answer from a real person in a few hours.
The Final, Definitive Thread on Brokerage Transfer Bonuses
Re: The Final, Definitive Thread on Brokerage Transfer Bonuses
Re: The Final, Definitive Thread on Brokerage Transfer Bonuses
Me too. I only do transfer for consolidation when there is a bonus. Too much anxiety. Since I have already done consolidation, so not too many opportunities.jeffyscott wrote: ↑Tue Sep 13, 2022 2:51 pmSame here.TomatoTomahto wrote: ↑Tue Sep 13, 2022 2:02 pmJust did one to Schwab. Would not do Public, RobinHood, etc.Leesbro63 wrote: ↑Tue Sep 13, 2022 2:00 pmAm I the only one here who would be comfortable doing a $1M bonus transfer to Fido, Schwab, ETrade or Merrill. But not to Public, Robinhood or any of the newer, less established brokerages?BuddyJet wrote: ↑Tue Sep 13, 2022 9:59 am My transfer to Public just settled. The transfer was $1MM+ and I was informed that the bonus would post in 1-2 business days rather than the 30 days the T&C specify. I assume it is because the transfer was at the top tier.
I was also told:
Also, we just launched a new service called Public Premium which is free to all accounts with $20k+ and includes prioritized customer support and a ton of awesome content / data (among other things to be announced shortly).
The premium level may help my service concerns. FWIW, I did contact their customer service via email and got a real answer from a real person in a few hours.
I'm not even planning to constantly move money around to the more established firms. I only sent about 10% of our money on a little E-Trade detour on the way to consolidating to get an extra $1000. But once it's all at Schwab, the most that I might do is transfer some to Merrill for the credit card rebate boost.
Re: The Final, Definitive Thread on Brokerage Transfer Bonuses
The rep provided more detail in later responses.whodidntante wrote: ↑Fri Sep 09, 2022 6:14 pm I'm going to share something that will make y'all cringe on the Public offer.
There is a single report that they don't know how to handle cost basis transfer over at Doc. It's maybe just the display that is wrong. It's also just one datapoint, so possibly wrong. Hook your peepers on it and decide if you want to risk it.
https://www.doctorofcredit.com/public-b ... nt-1441805
I always snapshot my basis anyway, and I can deal with the IRS. They audit me nearly every year anyway. But I know some of y'all like to keep your ride clean. I am proceeding but thought it was worth mentioning.
The good: Actual cost basis info does transfer.
The bad: Their app/website will only display average cost. There is no tax lot data. They hope to add tax lot data by end of year.
The good: The default basis method is MinTax. You may also select FIFO or LIFO.
The bad: You can not use specific lot to sell. This is a to be announced goal.
I also see that you can not hold treasuries.
Re: The Final, Definitive Thread on Brokerage Transfer Bonuses
You can follow the process in Tastyworks "How to Create Apex Account" instructions to create log in credentials for your Public account @ Apex.
https://support.tastyworks.com/support/ ... n%20window.
https://support.tastyworks.com/support/ ... n%20window.
Re: The Final, Definitive Thread on Brokerage Transfer Bonuses
I found that Apex does not let you add additional brokerage accounts to your Apex account. I already have an Apex account login for my M1 Finance and had to set up a new Apex account with a different email for Public.tj wrote: ↑Wed Sep 14, 2022 11:43 pm You can follow the process in Tastyworks "How to Create Apex Account" instructions to create log in credentials for your Public account @ Apex.
https://support.tastyworks.com/support/ ... n%20window.
People say nothing is impossible. I do nothing all day.
Re: The Final, Definitive Thread on Brokerage Transfer Bonuses
+1 correct ..BuddyJet wrote: ↑Thu Sep 15, 2022 7:42 amI found that Apex does not let you add additional brokerage accounts to your Apex account. I already have an Apex account login for my M1 Finance and had to set up a new Apex account with a different email for Public.tj wrote: ↑Wed Sep 14, 2022 11:43 pm You can follow the process in Tastyworks "How to Create Apex Account" instructions to create log in credentials for your Public account @ Apex.
https://support.tastyworks.com/support/ ... n%20window.
Re: The Final, Definitive Thread on Brokerage Transfer Bonuses
I must have used a different email address for Tastyworks, as my primary email address worked.sc9182 wrote: ↑Thu Sep 15, 2022 8:02 am+1 correct ..BuddyJet wrote: ↑Thu Sep 15, 2022 7:42 amI found that Apex does not let you add additional brokerage accounts to your Apex account. I already have an Apex account login for my M1 Finance and had to set up a new Apex account with a different email for Public.tj wrote: ↑Wed Sep 14, 2022 11:43 pm You can follow the process in Tastyworks "How to Create Apex Account" instructions to create log in credentials for your Public account @ Apex.
https://support.tastyworks.com/support/ ... n%20window.
Re: The Final, Definitive Thread on Brokerage Transfer Bonuses
FWIW, when I need multiple logins for a website, a password manager like LastPass is helpful. I edit the name LastPass shows to differentiate between logins. In this case, I set up M1 Apex and Public Apex.tj wrote: ↑Thu Sep 15, 2022 8:48 amI must have used a different email address for Tastyworks, as my primary email address worked.sc9182 wrote: ↑Thu Sep 15, 2022 8:02 am+1 correct ..BuddyJet wrote: ↑Thu Sep 15, 2022 7:42 amI found that Apex does not let you add additional brokerage accounts to your Apex account. I already have an Apex account login for my M1 Finance and had to set up a new Apex account with a different email for Public.tj wrote: ↑Wed Sep 14, 2022 11:43 pm You can follow the process in Tastyworks "How to Create Apex Account" instructions to create log in credentials for your Public account @ Apex.
https://support.tastyworks.com/support/ ... n%20window.
People say nothing is impossible. I do nothing all day.
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses
If I could find written documentation of the additional SIPC protection described earlier in this thread, I would do that transfer, especially considering the short-term hold requirement. It's easy for me to say that, though, because I don't have $1M in a taxable account to transfer.
Re: The Final, Definitive Thread on Brokerage Transfer Bonuses
I thought SIPC only covers up to half a mil?spammagnet wrote: ↑Thu Sep 15, 2022 10:56 amIf I could find written documentation of the additional SIPC protection described earlier in this thread, I would do that transfer, especially considering the short-term hold requirement. It's easy for me to say that, though, because I don't have $1M in a taxable account to transfer.
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses
Inability to deal with Treasuries is typical for these little brokerages.Katietsu wrote: ↑Wed Sep 14, 2022 10:05 amThe rep provided more detail in later responses.whodidntante wrote: ↑Fri Sep 09, 2022 6:14 pm I'm going to share something that will make y'all cringe on the Public offer.
There is a single report that they don't know how to handle cost basis transfer over at Doc. It's maybe just the display that is wrong. It's also just one datapoint, so possibly wrong. Hook your peepers on it and decide if you want to risk it.
https://www.doctorofcredit.com/public-b ... nt-1441805
I always snapshot my basis anyway, and I can deal with the IRS. They audit me nearly every year anyway. But I know some of y'all like to keep your ride clean. I am proceeding but thought it was worth mentioning.
The good: Actual cost basis info does transfer.
The bad: Their app/website will only display average cost. There is no tax lot data. They hope to add tax lot data by end of year.
The good: The default basis method is MinTax. You may also select FIFO or LIFO.
The bad: You can not use specific lot to sell. This is a to be announced goal.
I also see that you can not hold treasuries.
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses
See below. Emphasis added. That's the additional SIPC protection I referred to, which I'd need to see in writing before moving > $500K (that I don't have, anyway).Leesbro63 wrote: ↑Thu Sep 15, 2022 1:04 pmI thought SIPC only covers up to half a mil?spammagnet wrote: ↑Thu Sep 15, 2022 10:56 amIf I could find written documentation of the additional SIPC protection described earlier in this thread, I would do that transfer, especially considering the short-term hold requirement. It's easy for me to say that, though, because I don't have $1M in a taxable account to transfer.
adherenceEnergy wrote: ↑Thu Sep 08, 2022 6:08 pm If people are curious about that public.com offer, the coo (Stephen Sikes) came into a DoC thread answering a ton of questions people had: https://www.doctorofcredit.com/public-b ... 000-bonus/
For example, he said they can manually override cost basis in case the sending broker messes it up. He also said they have supplemental SIPC insurance: "Yes, we do have supplemental SIPC coverage (through our custodian/clearing firm, Apex) that covers up to $35M in securities and $900k in cash (I think, I’ll confirm exact amounts)."
Re: The Final, Definitive Thread on Brokerage Transfer Bonuses
I doubt that this is actually SIPC coverage. Sounds like private insurance coverage over and above the SPIC limit. Those coverages are suspect because they have limits on the total payout per brokerage. $35M per account might end up being $100,000 (just a “for instance” number that I made up) per account if there’s a big failure.spammagnet wrote: ↑Thu Sep 15, 2022 1:24 pmSee below. Emphasis added. That's the additional SIPC protection I referred to, which I'd need to see in writing before moving > $500K (that I don't have, anyway).Leesbro63 wrote: ↑Thu Sep 15, 2022 1:04 pmI thought SIPC only covers up to half a mil?spammagnet wrote: ↑Thu Sep 15, 2022 10:56 amIf I could find written documentation of the additional SIPC protection described earlier in this thread, I would do that transfer, especially considering the short-term hold requirement. It's easy for me to say that, though, because I don't have $1M in a taxable account to transfer.adherenceEnergy wrote: ↑Thu Sep 08, 2022 6:08 pm If people are curious about that public.com offer, the coo (Stephen Sikes) came into a DoC thread answering a ton of questions people had: https://www.doctorofcredit.com/public-b ... 000-bonus/
For example, he said they can manually override cost basis in case the sending broker messes it up. He also said they have supplemental SIPC insurance: "Yes, we do have supplemental SIPC coverage (through our custodian/clearing firm, Apex) that covers up to $35M in securities and $900k in cash (I think, I’ll confirm exact amounts)."
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses
Hence, my requirement for confirmation in writing.Leesbro63 wrote: ↑Thu Sep 15, 2022 2:38 pmI doubt that this is actually SIPC coverage. Sounds like private insurance coverage over and above the SPIC limit. Those coverages are suspect because they have limits on the total payout per brokerage. $35M per account might end up being $100,000 (just a “for instance” number that I made up) per account if there’s a big failure.
Re: The Final, Definitive Thread on Brokerage Transfer Bonuses
This just reinforces my reluctance to put more than $500,000 with any of the new type brokerages that haven’t been around for a long time. And who are probably too big to fail.spammagnet wrote: ↑Thu Sep 15, 2022 2:42 pmHence, my requirement for confirmation in writing.Leesbro63 wrote: ↑Thu Sep 15, 2022 2:38 pmI doubt that this is actually SIPC coverage. Sounds like private insurance coverage over and above the SPIC limit. Those coverages are suspect because they have limits on the total payout per brokerage. $35M per account might end up being $100,000 (just a “for instance” number that I made up) per account if there’s a big failure.
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses
What reinforces your reluctance? What documentation have you seen that relates specifically to Public's levels of insurance?Leesbro63 wrote: ↑Thu Sep 15, 2022 3:56 pmThis just reinforces my reluctance to put more than $500,000 with any of the new type brokerages that haven’t been around for a long time. And who are probably too big to fail.spammagnet wrote: ↑Thu Sep 15, 2022 2:42 pmHence, my requirement for confirmation in writing.Leesbro63 wrote: ↑Thu Sep 15, 2022 2:38 pmI doubt that this is actually SIPC coverage. Sounds like private insurance coverage over and above the SPIC limit. Those coverages are suspect because they have limits on the total payout per brokerage. $35M per account might end up being $100,000 (just a “for instance” number that I made up) per account if there’s a big failure.
Re: The Final, Definitive Thread on Brokerage Transfer Bonuses
None. My reinforced reluctance comes from no definitive extension of the $500,000 SIPC insurance. Truthfully I don't believe such a thing exists...I've been around the financial world for a long time and have never heard of this. And if it DID exist I would think the big players would all have it just to be competitive. A million bucks it serious money. I'm not gonna play around with the new players on the block with that kind of dough. I honestly don't understand all of the "meme" trading stuff and have no desire to get involved with risks I can't understand for a few thousand dollar bonus.spammagnet wrote: ↑Thu Sep 15, 2022 5:49 pmWhat reinforces your reluctance? What documentation have you seen that relates specifically to Public's levels of insurance?Leesbro63 wrote: ↑Thu Sep 15, 2022 3:56 pmThis just reinforces my reluctance to put more than $500,000 with any of the new type brokerages that haven’t been around for a long time. And who are probably too big to fail.spammagnet wrote: ↑Thu Sep 15, 2022 2:42 pmHence, my requirement for confirmation in writing.Leesbro63 wrote: ↑Thu Sep 15, 2022 2:38 pmI doubt that this is actually SIPC coverage. Sounds like private insurance coverage over and above the SPIC limit. Those coverages are suspect because they have limits on the total payout per brokerage. $35M per account might end up being $100,000 (just a “for instance” number that I made up) per account if there’s a big failure.
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses
The "meme" trading stuff is simply aggressive marketing to encourage inexperienced people to get excited so they can be separated from their money. It's pretty dumb but is irrelevant to the bonus offers and level of insurance. The latter two should be evaluated separately, and objectively. Yes, a million bucks is a lot of money. That doesn't mean it's at more or less risk sitting in a Public account for 3 months than it is sitting in a different account elsewhere.
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses
To people that may not be aware about sipc insurance, sipc insurance isn't needed in the vast majority of cases where firms go under. Customer assets are owned by customers and must be held in segregated accounts. Where sipc is generally needed is if the company wasn't keeping the funds segregated.Leesbro63 wrote: ↑Thu Sep 15, 2022 2:38 pm I doubt that this is actually SIPC coverage. Sounds like private insurance coverage over and above the SPIC limit. Those coverages are suspect because they have limits on the total payout per brokerage. $35M per account might end up being $100,000 (just a “for instance” number that I made up) per account if there’s a big failure.
The cases where they're not segregated are like Bernie madoff or mf global who were using customer funds to place massive bets in the markets, which isn't common from a regular broker.As FINRA points out: “In virtually all cases, when a brokerage firm ceases to operate, customer assets are safe and typically are transferred in an orderly fashion to another registered brokerage firm.”
As I understand it, I tell Public to transfer assets from my broker and put them in Apex, then Apex is the one that executes the acats transfer and holds my assets. Apex is a reputable clearing firm, imo. So if Public goes under, Apex still has my securities and sipc doesn't really matter. It's obviously not fully guaranteed to be fine, but I think the risk is incredibly low something goes bad.
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses
Is there an up to date list somewhere with the current offers as of 9/2022?
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses
To update: was able to do partial transfer to get td ameritrade Roth IRA to $0.41. Then initiated distribution with exception of all $0.41 to linked bank account.need403bhelp wrote: ↑Sun Sep 04, 2022 6:34 pmThanks. Looks like td ameritrade allows to request an early distribution with exception and vanguard allows to mobile deposit check as incoming rollover .placeholder wrote: ↑Sun Sep 04, 2022 5:39 pmThe exact method would vary somewhat but basically you fund a rollover contribution from a cash transfer or personal check and use the 1099r you received from the original custodian at tax time to report the rollover.need403bhelp wrote: ↑Sun Sep 04, 2022 7:53 amHow does one do that? Do you have to follow some special process, or can you just withdraw funds and then work on some process to get it to receiving firm? Thanks!placeholder wrote: ↑Sat Sep 03, 2022 8:42 pm If you don't mind using it you have your one per rolling 12 months indirect rollover.
Went to vanguard to roll in, tried via same bank account but minimum is $1. No opinion to roll in via vanguard taxable account. Mailed personal check for $0.41 with form printed from their website.
I wonder if TurboTax will give problems reporting at tax time as $0.41 rounds to $0?
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses
They change frequently so it's best to use a site like doctor of credit or something.ShaftoesSpreadsheet wrote: ↑Mon Sep 19, 2022 1:03 pm Is there an up to date list somewhere with the current offers as of 9/2022?
https://www.doctorofcredit.com/best-bro ... p-to-3500/
Citi Wealth Self Directed
[Thread merged into here --admin LadyGeek]
I see that Citi has a big bonus for their self-directed brokerage account offering. I'm wondering if anyone here has used them and what was your experience. I haven't seen any discussion about this option.
I see that Citi has a big bonus for their self-directed brokerage account offering. I'm wondering if anyone here has used them and what was your experience. I haven't seen any discussion about this option.
- retired@50
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Re: Citi Wealth Self Directed
If you search within this thread: viewtopic.php?t=196884 you'll see several posters discussing Citi Wealth.
Regards,
If liberty means anything at all it means the right to tell people what they do not want to hear. -George Orwell
Re: The Final, Definitive Thread on Brokerage Transfer Bonuses
I merged Leesbro63's thread into the ongoing discussion.
(Thanks to the member who reported the post and provided a link to this thread.)
(Thanks to the member who reported the post and provided a link to this thread.)
Re: The Final, Definitive Thread on Brokerage Transfer Bonuses
+1TomatoTomahto wrote: ↑Tue Sep 13, 2022 2:02 pmJust did one to Schwab. Would not do Public, RobinHood, etc.Leesbro63 wrote: ↑Tue Sep 13, 2022 2:00 pmAm I the only one here who would be comfortable doing a $1M bonus transfer to Fido, Schwab, ETrade or Merrill. But not to Public, Robinhood or any of the newer, less established brokerages?BuddyJet wrote: ↑Tue Sep 13, 2022 9:59 am My transfer to Public just settled. The transfer was $1MM+ and I was informed that the bonus would post in 1-2 business days rather than the 30 days the T&C specify. I assume it is because the transfer was at the top tier.
I was also told:
Also, we just launched a new service called Public Premium which is free to all accounts with $20k+ and includes prioritized customer support and a ton of awesome content / data (among other things to be announced shortly).
The premium level may help my service concerns. FWIW, I did contact their customer service via email and got a real answer from a real person in a few hours.
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Re: Citi Wealth Self Directed
DW and I are getting the same bonuses for the second time. Citi is a PIA because opening accounts is entirely by phone interview and Docusign documents, rather than online like most do. That applies to ACAT transfers, as well. But, once the account is open and assets transferred, what else is there to do? Sit back and wait for them to give you free money.
We did it first in early 2021. After getting the bonus and waiting for the short required minimum holding period, we transferred the funds back and closed the accounts to reduce the number of accounts we have to track. I recommend not doing that because the bonus is for new money, not new accounts. For inexplicable reasons, Citi allows you to get the bonus, move the money out, wait awhile, then do it again.
Our process this time was made easier by being allowed to reopen the closed accounts. It would have been even easier had we left $100 cash in each account and simply moved new (actually, the same) money back in.
Re: Citi Wealth Self Directed
This is useful information, thank you very much. We don't have any Citi branches in Pittsburgh, so you answered my second question too!spammagnet wrote: ↑Wed Sep 21, 2022 7:48 pmDW and I are getting the same bonuses for the second time. Citi is a PIA because opening accounts is entirely by phone interview and Docusign documents, rather than online like most do. That applies to ACAT transfers, as well. But, once the account is open and assets transferred, what else is there to do? Sit back and wait for them to give you free money.
We did it first in early 2021. After getting the bonus and waiting for the short required minimum holding period, we transferred the funds back and closed the accounts to reduce the number of accounts we have to track. I recommend not doing that because the bonus is for new money, not new accounts. For inexplicable reasons, Citi allows you to get the bonus, move the money out, wait awhile, then do it again.
Our process this time was made easier by being allowed to reopen the closed accounts. It would have been even easier had we left $100 cash in each account and simply moved new (actually, the same) money back in.
Re: The Final, Definitive Thread on Brokerage Transfer Bonuses
Merrill's $1k bonus offer is back, btw:
DoctorOfCredit post: https://www.doctorofcredit.com/merrill- ... vestments/
Offer link: https://www.merrilledge.com/offers/pr1000
DoctorOfCredit post: https://www.doctorofcredit.com/merrill- ... vestments/
Offer link: https://www.merrilledge.com/offers/pr1000
- whodidntante
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses
Yeah, I need to re-up for Platinum Honors. Problem is that all my securities are in a lockup period somewhere. Maybe I'll find an extra 100k laying around.sarabayo wrote: ↑Thu Sep 22, 2022 6:53 pm Merrill's $1k bonus offer is back, btw:
DoctorOfCredit post: https://www.doctorofcredit.com/merrill- ... vestments/
Offer link: https://www.merrilledge.com/offers/pr1000
Re: The Final, Definitive Thread on Brokerage Transfer Bonuses
Looks like it's good through May, I'll have some I can move by then.whodidntante wrote: ↑Thu Sep 22, 2022 8:11 pmYeah, I need to re-up for Platinum Honors. Problem is that all my securities are in a lockup period somewhere. Maybe I'll find an extra 100k laying around.sarabayo wrote: ↑Thu Sep 22, 2022 6:53 pm Merrill's $1k bonus offer is back, btw:
DoctorOfCredit post: https://www.doctorofcredit.com/merrill- ... vestments/
Offer link: https://www.merrilledge.com/offers/pr1000
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses
I notice that this one is 250k to get the top bonus when it used to be 200k but that's now in line with most offers so something to be aware of.sarabayo wrote: ↑Thu Sep 22, 2022 6:53 pm Merrill's $1k bonus offer is back, btw:
DoctorOfCredit post: https://www.doctorofcredit.com/merrill- ... vestments/
Offer link: https://www.merrilledge.com/offers/pr1000
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses
Note this is the offer:whodidntante wrote: ↑Thu Sep 22, 2022 8:11 pm Yeah, I need to re-up for Platinum Honors. Problem is that all my securities are in a lockup period somewhere. Maybe I'll find an extra 100k laying around.
Promotional Early Enrollment in Preferred Rewards: Until May 26, 2023, when you enroll in the Preferred Rewards $1000 More Cash Offer, you consent to early enrollment in the Preferred Rewards Program. Once you satisfy the funding requirement for the offer, you will be enrolled in Preferred Rewards within 45 days based on your current balances at that time rather than the usual requirement of three month average combined balances. You also must have or open an eligible Bank of America personal checking Advantage Banking account to be enrolled in Preferred Rewards. All Preferred Rewards benefits available in the tier associated with your combined balance level will be active within 30 days of enrollment.
Re: The Final, Definitive Thread on Brokerage Transfer Bonuses
And it's only $400 for $100k, it used to be $500.placeholder wrote: ↑Thu Sep 22, 2022 10:44 pmI notice that this one is 250k to get the top bonus when it used to be 200k but that's now in line with most offers so something to be aware of.sarabayo wrote: ↑Thu Sep 22, 2022 6:53 pm Merrill's $1k bonus offer is back, btw:
DoctorOfCredit post: https://www.doctorofcredit.com/merrill- ... vestments/
Offer link: https://www.merrilledge.com/offers/pr1000
Re: The Final, Definitive Thread on Brokerage Transfer Bonuses
Does Merill offer applies to adding new money to an existing account as well?
Re: The Final, Definitive Thread on Brokerage Transfer Bonuses
Does Merill offer applies to adding new money to an existing account as well?
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses
Usually that's the case and this offer says:
You would need to call them and give them the promo code to apply but I usually just open a new one because you can do it all online that way.Offer valid for new and existing individual Merrill IRAs or Cash Management Accounts (CMA) opened September 1, 2022 through May 26, 2023.
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses
Re your second point, any way to get transfer fees reimbursed without calling? Chat? Or have you tried?placeholder wrote: ↑Fri Sep 23, 2022 12:05 amUsually that's the case and this offer says:You would need to call them and give them the promo code to apply but I usually just open a new one because you can do it all online that way.Offer valid for new and existing individual Merrill IRAs or Cash Management Accounts (CMA) opened September 1, 2022 through May 26, 2023.
Re: The Final, Definitive Thread on Brokerage Transfer Bonuses
The offer also says:placeholder wrote: ↑Fri Sep 23, 2022 12:05 amUsually that's the case and this offer says:You would need to call them and give them the promo code to apply but I usually just open a new one because you can do it all online that way.Offer valid for new and existing individual Merrill IRAs or Cash Management Accounts (CMA) opened September 1, 2022 through May 26, 2023.
I'm not sure what "in the aggregate" means precisely, but commenters on DoctorOfCredit say that the phone reps are willing to apply the promo to an existing account that has enjoyed a promo bonus in the past if it's been more than a year since then. That's anecdotal, though, so ymmv I guess?Cash bonus offers, in the aggregate, are limited to one CMA and one IRA per accountholder.
Re: The Final, Definitive Thread on Brokerage Transfer Bonuses
Merrill pays the bonus at the END of the 9 month (or 1 year) holding period. I wonder when the clock starts on the new bonus? At the beginning of the prior bonus period or when the prior bonus was paid. Because if the latter, then it’s really 21 or 24 months between bonuses.sarabayo wrote: ↑Fri Sep 23, 2022 12:24 pmThe offer also says:placeholder wrote: ↑Fri Sep 23, 2022 12:05 amUsually that's the case and this offer says:You would need to call them and give them the promo code to apply but I usually just open a new one because you can do it all online that way.Offer valid for new and existing individual Merrill IRAs or Cash Management Accounts (CMA) opened September 1, 2022 through May 26, 2023.
I'm not sure what "in the aggregate" means precisely, but commenters on DoctorOfCredit say that the phone reps are willing to apply the promo to an existing account that has enjoyed a promo bonus in the past if it's been more than a year since then. That's anecdotal, though, so ymmv I guess?Cash bonus offers, in the aggregate, are limited to one CMA and one IRA per accountholder.
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses
The look-back period is one year since the last bonus was paid.Leesbro63 wrote: ↑Fri Sep 23, 2022 2:35 pm Merrill pays the bonus at the END of the 9 month (or 1 year) holding period. I wonder when the clock starts on the new bonus? At the beginning of the prior bonus period or when the prior bonus was paid. Because if the latter, then it’s really 21 or 24 months between bonuses.
A useful razor: anyone asking about speculative strategies on Bogleheads.org has no business using them.
Re: The Final, Definitive Thread on Brokerage Transfer Bonuses
So it’s really 21 months between bonuses.drk wrote: ↑Fri Sep 23, 2022 10:12 pmThe look-back period is one year since the last bonus was paid.Leesbro63 wrote: ↑Fri Sep 23, 2022 2:35 pm Merrill pays the bonus at the END of the 9 month (or 1 year) holding period. I wonder when the clock starts on the new bonus? At the beginning of the prior bonus period or when the prior bonus was paid. Because if the latter, then it’s really 21 or 24 months between bonuses.
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses
Has anyone found details on public.com transfer OUT fee and conditions?
Intrigued by the high bonus, but weary of a surprise on the backside. Would only transfer $100k - don't have enough confidence to do $1M+.
Intrigued by the high bonus, but weary of a surprise on the backside. Would only transfer $100k - don't have enough confidence to do $1M+.
Re: The Final, Definitive Thread on Brokerage Transfer Bonuses
$75 for ACAT outabracadabra11 wrote: ↑Sat Sep 24, 2022 6:58 am Has anyone found details on public.com transfer OUT fee and conditions?
Intrigued by the high bonus, but weary of a surprise on the backside. Would only transfer $100k - don't have enough confidence to do $1M+.
Re: The Final, Definitive Thread on Brokerage Transfer Bonuses
Sorry, I overlooked this from your previous post:
Merrill pays the bonus 90 days after you meet the bonus criteria. I haven't seen them require a holding period as long as nine months or one year. Instead, they usually restrict eligibility to not having received a bonus in the last year, which would be 15 months between bonus enrollments.
That said, it looks like they don't have the one-year eligibility criterion for this offer, just an exclusion for assets transferred out in the preceding 24 weeks.
A useful razor: anyone asking about speculative strategies on Bogleheads.org has no business using them.
Re: The Final, Definitive Thread on Brokerage Transfer Bonuses
drk wrote: ↑Sat Sep 24, 2022 9:30 amSorry, I overlooked this from your previous post:
Merrill pays the bonus 90 days after you meet the bonus criteria. I haven't seen them require a holding period as long as nine months or one year. Instead, they usually restrict eligibility to not having received a bonus in the last year, which would be 15 months between bonus enrollments.
That said, it looks like they don't have the one-year eligibility criterion for this offer, just an exclusion for assets transferred out in the preceding 24 weeks.
Typically he increased offers have a 1 year hold period and the normal offer has a 6 month period. Unless I'm mis remembering and its 6 and 3 months.
Re: The Final, Definitive Thread on Brokerage Transfer Bonuses
I recently received a bonus that was only paid at the end of a 9 month holding period. If I want to bring over additional money for a new bonus, what will be the current terms?tj wrote: ↑Sat Sep 24, 2022 9:44 amdrk wrote: ↑Sat Sep 24, 2022 9:30 amSorry, I overlooked this from your previous post:
Merrill pays the bonus 90 days after you meet the bonus criteria. I haven't seen them require a holding period as long as nine months or one year. Instead, they usually restrict eligibility to not having received a bonus in the last year, which would be 15 months between bonus enrollments.
That said, it looks like they don't have the one-year eligibility criterion for this offer, just an exclusion for assets transferred out in the preceding 24 weeks.
Typically he increased offers have a 1 year hold period and the normal offer has a 6 month period. Unless I'm mis remembering and its 6 and 3 months.
Re: The Final, Definitive Thread on Brokerage Transfer Bonuses
I have no idea. What does the T&C say? It seems like brokerages usually make you wait 12 months?Leesbro63 wrote: ↑Sat Sep 24, 2022 12:17 pmI recently received a bonus that was only paid at the end of a 9 month holding period. If I want to bring over additional money for a new bonus, what will be the current terms?tj wrote: ↑Sat Sep 24, 2022 9:44 amdrk wrote: ↑Sat Sep 24, 2022 9:30 amSorry, I overlooked this from your previous post:
Merrill pays the bonus 90 days after you meet the bonus criteria. I haven't seen them require a holding period as long as nine months or one year. Instead, they usually restrict eligibility to not having received a bonus in the last year, which would be 15 months between bonus enrollments.
That said, it looks like they don't have the one-year eligibility criterion for this offer, just an exclusion for assets transferred out in the preceding 24 weeks.
Typically he increased offers have a 1 year hold period and the normal offer has a 6 month period. Unless I'm mis remembering and its 6 and 3 months.
Re: The Final, Definitive Thread on Brokerage Transfer Bonuses
Over the years, I have probably done 10 transfers out of Vanguard and into Schwab, Fido, eTrade, M1, Citi, and Tradestation. After the securities sit in the new accounts for a year or so, I ask Vanguard to take 'em back. I've probably grossed $40k in bonuses. My transfers are usually at least $2mm or higher. One time, when I called Schwab to ask them to send securities to eTrade, Schwab gave me the same bonus as eTrade would have given me, just to leave the securities in Schwab.Leesbro63 wrote: ↑Tue Sep 13, 2022 2:00 pmAm I the only one here who would be comfortable doing a $1M bonus transfer to Fido, Schwab, ETrade or Merrill. But not to Public, Robinhood or any of the newer, less established brokerages?BuddyJet wrote: ↑Tue Sep 13, 2022 9:59 am My transfer to Public just settled. The transfer was $1MM+ and I was informed that the bonus would post in 1-2 business days rather than the 30 days the T&C specify. I assume it is because the transfer was at the top tier.
I was also told:
Also, we just launched a new service called Public Premium which is free to all accounts with $20k+ and includes prioritized customer support and a ton of awesome content / data (among other things to be announced shortly).
The premium level may help my service concerns. FWIW, I did contact their customer service via email and got a real answer from a real person in a few hours.