Author Topic: Investment Account Signup Bonuses!  (Read 1847 times)

TomTX

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Investment Account Signup Bonuses!
« on: October 19, 2017, 07:22:17 PM »
As was requested, I have started a new thread for this topic. I just recently transferred everything from Vanguard to Merrill Edge.

$200k+ transferred will earn you a $600 bonus. There are a few caveats - it needs to be a single account to post automatically, but after it transfers you can have a specialist link multiple accounts to qualify. There will (eventually) be a $50 account closure fee.

If you use (or would use) Bank of America credit cards, after a couple of months* this will qualify you for their affinity program, which gets you up to a 75% boost in credit card rewards. For me, the 2% on grocery/Warehouse club  purchases would become 3.5% back.

I just did an in-kind transfer of VTI. No issues.

What interesting bonuses are you seeing?

*It's based on average account balance on the trailing 3 months, and is apparently only checked at the beginning of the new month.

maxpower

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Re: Investment Account Signup Bonuses!
« Reply #1 on: December 01, 2017, 06:52:53 AM »
Hey TomTX,
I'm trying to cross the habitability threshold for the house I've been building for the last two years, so this recent tossing up of my Vanguard ETFs at TD Ameritrade has come at a point where I am highly preoccupied! I really don't want to research a whole host of new commission-free EFTs at TD. For better or worse, I trust Vanguard funds and would just assume stick with them.

I have $171,000 invested at TD across 4 different accounts.

It sounds like with that (and assuming I open up eligible Bank of America® personal checking account?), I could make their Preferred Rewards Platinum Honors tier and score 100 commission free trades per month. Is that right? I buy more ETFs once or twice a month, so having the ability to frequently purchase more without getting dinged with a $7 commission is very attractive to me. And in addition to that, I'd get their $250 bonus (granting your caveats on that point)?

I'm invested in:
VTI
VBR
VEU
VWO
BND

I should be able to simply do an in-kind transfer of these ETFs and then just go on with my habitual monthly purchases commission-free, yes?

I really hate having to screw around with this, but it sounds like this might be my ticket to carrying on with my investment habits without having to change up my ETF selection, or resign my self to paying more fees. What do you think?

 

Rubic

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Re: Investment Account Signup Bonuses!
« Reply #2 on: December 01, 2017, 09:22:22 AM »
Just yesterday I transferred my etrade IRA account to Scottrade, for a $2500
bonus.  I'd earlier transferred into etrade a couple years ago for their $2500 bonus. ;-)

Today is the last day for the $2500 Scottrade bonus.  They've been acquired by TD Ameritrade
and will be merged early next year.

Potential double dip: TD Ameritrade has a $1000 bonus which expires on 12/31/17.  My
plan is to wait until the Scottrade bonus posts, then apply for the TD Ameritrade $1000
bonus with a non-IRA account in the last few days of 2017, so the taxable bonus won't
be posted until 2018 (hopefully).

This assumes the Scottrade and Ameritrade IT systems aren't fully integrated yet, otherwise
my plan for a second bonus won't work.

In both cases the funds will need to remain in TD Ameritrade for one year to avoid repayment
of the cash bonuses.  At that point I'll look into other potential brokerage bonus offers in 2019.

This is more fun than credit card churning.




TomTX

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Re: Investment Account Signup Bonuses!
« Reply #3 on: December 01, 2017, 01:38:51 PM »
Hey TomTX,
I'm trying to cross the habitability threshold for the house I've been building for the last two years, so this recent tossing up of my Vanguard ETFs at TD Ameritrade has come at a point where I am highly preoccupied! I really don't want to research a whole host of new commission-free EFTs at TD. For better or worse, I trust Vanguard funds and would just assume stick with them.

I have $171,000 invested at TD across 4 different accounts.

It sounds like with that (and assuming I open up eligible Bank of America® personal checking account?), I could make their Preferred Rewards Platinum Honors tier and score 100 commission free trades per month. Is that right? I buy more ETFs once or twice a month, so having the ability to frequently purchase more without getting dinged with a $7 commission is very attractive to me. And in addition to that, I'd get their $250 bonus (granting your caveats on that point)?

I'm invested in:
VTI
VBR
VEU
VWO
BND

I should be able to simply do an in-kind transfer of these ETFs and then just go on with my habitual monthly purchases commission-free, yes?

I really hate having to screw around with this, but it sounds like this might be my ticket to carrying on with my investment habits without having to change up my ETF selection, or resign my self to paying more fees. What do you think?

Sounds like you have it correct. If you set it up now and the transfers go reasonably quickly, you should get the first tier of status with BoA by January 8th, then jump a tier each month. When you call them to set up the transfers, ask about some initial free trades as well.

I'm not sure whether you need to have a BoA checking account, or if a credit card is good enough.

Make sure when you sign up for checking you get some kind of bonus. Here's what I found with a quick look: https://promo.bankofamerica.com/chooseyourchecking1/offer/ - there may be something better.

 My sequence was: BoA credit card, get targeted for $300 checking signup bonus, then do $600 Merrill Edge bonus.

TomTX

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Re: Investment Account Signup Bonuses!
« Reply #4 on: December 01, 2017, 01:40:37 PM »
Just yesterday I transferred my etrade IRA account to Scottrade, for a $2500
bonus.  I'd earlier transferred into etrade a couple years ago for their $2500 bonus. ;-)

Today is the last day for the $2500 Scottrade bonus.  They've been acquired by TD Ameritrade
and will be merged early next year.

Potential double dip: TD Ameritrade has a $1000 bonus which expires on 12/31/17.  My
plan is to wait until the Scottrade bonus posts, then apply for the TD Ameritrade $1000
bonus with a non-IRA account in the last few days of 2017, so the taxable bonus won't
be posted until 2018 (hopefully).

This assumes the Scottrade and Ameritrade IT systems aren't fully integrated yet, otherwise
my plan for a second bonus won't work.

In both cases the funds will need to remain in TD Ameritrade for one year to avoid repayment
of the cash bonuses.  At that point I'll look into other potential brokerage bonus offers in 2019.

This is more fun than credit card churning.

Sounds great if you already have that level of assets! A quick look says I would have gotten $300 from Scottrade.

Rubic

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Re: Investment Account Signup Bonuses!
« Reply #5 on: December 01, 2017, 03:21:35 PM »
Sounds great if you already have that level of assets! A quick look says I would have gotten $300 from Scottrade.

You'll get there!  It only took me 40 years. ;-)