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The Offer
- Charles Schwab is offering a brokerage bonus, there are three different tiers:
- Deposit $100k-$249k of cash or securities into a Schwab taxable brokerage account and get two ski lift tickets at any participating resort
- Deposit $250k-$499k of cash or securities into a Schwab taxable brokerage account and get two ski lift tickets at any participating resort & a $300 gift card to the North Face
- Deposit $500k+ of cash or securities into a Schwab taxable brokerage account and get four ski lift tickets at any participating resort & a $300 gift card to the North Face
The Fine Print
- This offer is valid 10/1/18 through 3/31/19 for individuals who make a qualifying net deposit into a taxable retail Charles Schwab & Co., Inc. (“Schwab”) brokerage account within 30 days of enrollment in the offer. Net deposits are assets deposited into the account minus assets withdrawn from the account and transferred out of Schwab. Only assets new to Schwab qualify; assets transferred from affiliates are excluded. Except for accounts pledged to Charles Schwab Bank, you must maintain the qualifying net deposit amount (less any market losses) at Schwab for at least one year or Schwab may charge back the value of the award.
- Upon either confirmation of a $500,000 net deposit or the 35th day after enrollment, whichever comes earlier, you will be sent a redemption code to be redeemed through a third-party provider for the award for which you qualified. Redemption codes will be redeemed through Links Unlimited, Inc. and will expire on 12/31/19.
- The ARV of each lift ticket will vary from $45 to $115 depending on the ski resort, time of year, and other factors.
- This offer is limited to one per client. It does not apply to accounts managed by independent investment advisors, the Schwab Global Account, business accounts, fiduciary accounts, IRA accounts, ERISA-covered retirement plans, certain tax-qualified retirement plans and accounts, or education savings accounts. The value of the award, when combined with the value received from all other offers in the last 12 months, may not exceed $5,000 per household, as defined in the Charles Schwab Pricing Guide for Individual Investors. This offer is not transferable, saleable, or valid in connection with certain other offers and is available to U.S. residents only. Employees, contractors, or persons similarly associated with Schwab or a Schwab affiliate; their spouses; and employees of any securities regulatory organization or exchange are not eligible. Schwab may modify or withdraw the offer at any time without notice. Schwab reserves the right to offer a comparable version of the Product or Event in lieu of the Product or Event described herein. Other restrictions may apply.
- Consult with your tax advisor about the appropriate tax treatment of the offer before enrolling. Any related taxes are your responsibility. The value of all Schwab offers received will be reported as Other Income on your Form 1099-MISC if, when combined with Other Income earned, the value totals $600 or more during the calendar year.
Our Verdict
Looks like the lift tickets are worth about a maximum of $100 (correct me if I’m wrong). On the surface this doesn’t look an attractive as other brokerages (e.g Merrill Edge offers $900 for $200k deposited) but again I’m happy to be corrected. One nice thing is that this will work for existing customers as long as additional funds are added. I’ll like to start posting more brokerage bonuses, so if you know of any good ones or information we should be on the look for then please share in the comments below.
Hat tip to reader Arvind R
