$900 IRA Bonus from Merrill Edge

The Offer

Direct Link

Bank of America Preferred Rewards clients can open a new Merrill Edge IRA account and transfer between $20,000 and $200,000 in assets to get the following bonus tiers:

  • Transfer $200,000 or more and get a $900 bonus (standard is $600)
  • Transfer $100,000 or more and get a $375 bonus (standard is $250)
  • Transfer $50,000 or more and get a $225 bonus (standard is $150)
  • Transfer $20,000 or more and get a $150 bonus (standard is $100)

You must use offer code: ME900

Screen Shot 2017-03-06 at 12.56.34 AM

The Fine Print

  • Offer expires April 18, 2017.
  • Offer valid only for new and existing personal Merrill Edge IRA accounts opened by Preferred Rewards enrolled customers.
  • Offer is limited to one per IRA. Eligible IRAs limited to Rollover, Traditional, Roth and Sole-Proprietor SEP IRAs only.
  • This offer does not apply to Merrill Edge Guided Investing (MEGI) Accounts, Business/Corporate Accounts, Investment Club Accounts, Partnership Accounts and certain fiduciary accounts held with Merrill Lynch, Pierce, Fenner & Smith Incorporated (MLPF&S). Merrill Edge reserves the right to change or cancel this offer at any time.
  • Must meet qualification within 45-days of opening account.
  • Must maintain your qualifying balance for at least 90 days.
  • Cash bonus will reflect within two weeks after the 90-day qualifying period.
  • Account funding must be with funds originating from outside Bank of America and MLPF&S.
  • You must be enrolled in Preferred Rewards as of 90 days from funding.

Our Verdict

This IRA offer is different than the standard Merrill Edge bonus offers since it only applies for those who are Preferred Rewards clients. It also is different in that, apparently, it even works for those who already have a Merrill Edge account, so long as they transfer over their IRA they’ll get the bonus.

The terms sound to me that this bonus will work for non-Preferred customers as well, so long as they qualify for Preferred Rewards status within 90-days. Meaning that this will work for new Merrill Edge customers too.

Please do you own research or ask your financial advisers before making such a move. 

Hat tip to @calwatch

Subscribe
Notify of
guest

17 Comments
newest
oldest most voted

Thomas
Thomas (@guest_600628)
May 30, 2018 15:25

The page is still up and is the third link on google but the offer is over. I wonder if it will come back its almost been a year…

Looking to transfer some of my 401k to get preferred rewards and have better chance at BOA approvals. The extra money couldnt hurt 😀

Jim
Jim (@guest_365615)
March 7, 2017 02:38

Hoping the $900 or $1000 bonus returns for the individual accounts too. Have been keeping an eye on Merrill’s bonuses the last few years, and they’re generally good for either IRA or cash accounts, so it’s interesting to see this geared at only the former.

Already took advantage of the IRA offer late last year, so hoping it reoccurs for CMAs soon!

sceptic
sceptic (@guest_555788)
January 31, 2018 11:17

This bonus is back.

William Charles
Admin
January 31, 2018 21:04

Got a link? I only see a $600 bonus…

Tom
Tom (@guest_557824)
February 5, 2018 20:39

I see it as back — I see it on my B of A login page just after I log in. I am already a member of the Preferred Rewards, so if anyone is interested in this (and already has a B of A deposit acct), join Preferred Rewards.
Apparently I currently have “Gold Tier” status in the Preferred Rewards, and I am inferring that Gold Tier status is based on my qualifying Gold balance, which

“reflects the 3-month average combined balance in your eligible Bank of America deposit and/or Merrill Edge® and Merrill Lynch® investment accounts. It’s calculated based on your average daily balance for a 3-calendar-month period. Your program balance is updated each calendar month and determines your Preferred Rewards eligibility and benefits. Vist our learning center for more information.”

My balance is >$10K currently.

Hope this might help someone.

William Charles
Admin
February 5, 2018 20:40

Ah ok, looks targeted in that case then.

Steve
Steve (@guest_365436)
March 6, 2017 19:03

Has anyone received a 1099 form from Merrill Edge for an opening bonus? In 2014 when I opened a taxable account there, I didn’t get a 1099.

Steve
Steve (@guest_365461)
March 6, 2017 19:44

Oops… I actually did get a 1099-MISC for a $1000 bonus from Merrill Edge (for tax year 2015, since the bonus posted in 2015 even though I opened the account in 2014).

I’m still curious though if anyone got a 1099 for an IRA at Merrill Edge (vs. a taxable account), but I’m guessing the answer is yes, at least for bonus amounts of $600 or higher.

Steve
Steve (@guest_365474)
March 6, 2017 19:59

And for any type of Merrill Edge, have people received a 1099 for bonus amounts less than $600?

Jb
Jb (@guest_365502)
March 6, 2017 21:22

Bonus not taxable in an IRA so no 1099.

IOException
IOException (@guest_365383)
March 6, 2017 17:10

Not like I have 200K in my IRA (I assume most only get there by being in their 30s and merging a former employer’s 401k).

In any case, their website makes me feel really stupid. Clicked around for a minute and couldn’t see a way to view prospectus funds.

Thomas
Thomas (@guest_600490)
May 30, 2018 11:00

You can buy whatever funds you want in any IRA. Its just like any other investment account.

calwatch
calwatch (@guest_365364)
March 6, 2017 15:56

To clarify Preferred Rewards is NOT automatic with Merrill Edge, you have to open a bank account with BoA to qualify. I opened an account with ME a couple of years ago but waited until I was targeted with a the $300 BoA bonus to open my bank account. In the meantime, I was not considered Preferred and did not get free trades nor the credit card bonus, despite having more than $100,000 in ME. Of course, once I opened a bank account, the Preferred status was instant. Free-quent Flyer explains on one of his posts how the Preferred Rewards status is calculated.

Scott
Scott (@guest_365314)
March 6, 2017 14:08

The normal increased bonus is $1000/$500 at the top end vs $900/$375, so either they are trying to bring the bonus down a bit or it might be worth waiting.

Yaoyu Yang
Yaoyu Yang (@guest_365296)
March 6, 2017 13:33

“transfer between $20,00 and $200,000 in assets”, did you actually mean between $20,000 and $200,000?