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Geoff Stuart
Geoff Stuart

This is a bonus for TD Ameritrade clients, who are going to get transferred to Schwab anyway. Might as well do it early and pocket the bonus. Also, this will make you eligible for the Schwab Amex Platinum offer. Nice!

MHS
MHS

DP – Bonus-earning and account-closing data points:
– 12/15/2020 – Account (Individual Brokerage) opened
– 12/17/2020 – $1,010 transferred in from E*Trade
– 2/2/2021 – $100 bonus deposited into account
I’ve opted to keep the account.

Minka
Minka

How is this not one of the worst bonuses.
1:Referrals from online may or may not work
2: minimum $25,000 for $100
3: States money needs to be in account for a year or claw back.
Major pass for me till this offer gets better.

Lou
Lou

Did this years ago. Lazy Schwab staff didn’t transfer over the cost basis. They just moved the equities and left it. Had to make a huge fuss before they took action. Be careful.

Terp
Terp

I did a transfer recently and cost basis came in several days after the assets.

YoniPDX

William Charles Chuck

I’ll just leave this here 7.12% interest up to $10K

U.S, Government Treasury is currently offering 7.12% Interest Rate in combined Fixed + Inflation Rate Earnings valid on newly issued Series I Savings Bonds purchased from November 2021 through April 2022. Limit of $10,000 / year in interest earnings per person

https://slickdeals.net/f/15497017-us-treasury-series-i-savings-bonds-inflation-rate-earnings-nov-21-april-22-7-12-interest-limit-10k-year-per-person

Michael
Michael
greenspan
greenspan

That’s already on the list of best savings rates and there’s also a dedicated page:
https://www.doctorofcredit.com/us-treasury-bonds-rate-set-to-increase-to-7-12-rate-i-bonds/

This is the Schwab Referral Bonus page.

Jason
Jason

Anyone know where do brokerages debit ACATS fee from? What happen if I do a full account transfer with no cash balance in the account?

Bernie
Bernie

They will do a house call and you have to either move funds into that account to cover it, or sell enough assets to cover it.

KC
KC

Could I close my existing accounts and then do it for the highest tier instead?

Matt
Matt

That would depend on how this line is interpreted:

“Net deposits are assets deposited into the enrolled account minus assets withdrawn from the account and transferred out of Schwab.”

If you transfer out of Schwab, close the account, open a new account, and transfer your assets into Schwab, you would seemingly (maybe) need to have your original transferred-out amount plus an additional $500,000+ to have a net deposit amount in that highest tier range. Maybe. At what point would Schwab not factor your original transferred-out amount in the net deposits calculation? No idea. After a certain amount time (months/years), any deposits would just be considered completely new money, but who knows when.

I wouldn’t assume it will work automatically, but I guess you could always make your case to a customer support representative afterwards.

Andy
Andy

I’ve done this for years with TD Ameritrade and E-Trade. I’d be surprised if it doesn’t work here too. In cases where you need to enroll in an offer, obviously don’t enroll until your outgoing transfer is done.

Edit: Given that this is a referral offer, you may want to check that previously being a customer doesn’t disqualify you from the referral. When I’ve done this in the past, it’s just been new account offers, not referral ones. I didn’t read the terms for this one since I’m not doing it.

Debit
Debit

So much bloody capitalism. Competition is reducing in everything. Fewer airlines, fewer brokerages, fewer social media companies. The politicians are easily corrupted and give ok for acquisitions that reduce competition.

BS
BS

Can’t tell if you are being sarcastic complaining about capitalism on DoctorOfCredit. The airlines are nearly state run (constant bailouts and subsidies, regulated up to their eyeballs). There still seem to be tons of banks/credit unions and I don’t remember there ever being so may brokerages but granted this isn’t something that I’ve tracked closely.

RoamingRedPanda
RoamingRedPanda

Just a resident troll or troll-impersonator with occasional insights. Best not to feed it and move along.

Kris
Kris

Glad to see debit is alive and well, they had disappeared since June.

L
L

I wish Jordan would return. 😔

YoniPDX

Lolz I was thinking the same but haven’t been as active on DoC, so I had to check their recent post activity.

But it did seem quite lately other than Vy “OUTRAGED ” and Professional MSr” FU everybody”

David
David

He’s too stupid to realize that “capitalism” – and “politicians” in the same point is an oxymoron.

L
L

Not sure why you’re going on a capitalism rant, but go off I guess.

Matt
Matt

Although there has been a lot of mergers in this space in recent years, there has also been a lot of new entrants as well (either completely new companies or existing financial services companies newly offering brokerage products). And many of those smaller, newer entrants are able to compete technologically with the bigger, older brokers.

Mergers and reduced competition can be an issue in general (in the economy overall), but the brokerage space specifically seems to be doing okay/decent in terms of competition. Though it certainly could be a problem in the future if the bigger mergers/acquisitions — such as Schwab and TD Ameritrade — are allowed to continue happening. Some additional government scrutiny in this area would be appreciated.

I agree with your sentiment overall though. While I think it’s not a major issue right at this very moment, I can easily see it becoming more of an issue in the not too distant future if things are allowed to continue.

Parts Unknown
Parts Unknown

William Charles They have added a further tier to the bonus, $1000 for $500k deposited, for those with a half mil to move around.

Ocilas
Ocilas

Trillion dollar company should have a bigger bonus.

Flyer
Flyer

They didn’t become a trillion dollar company giving out money

L
L

Yeah, this is chump change to a company like this. They’re just giving customers scrap.

Derek
Derek

Huh? Schwab isn’t a trillion-dollar company. Its market cap is about $150 billion.