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Dominique
Dominique

P1-P3 all received this bonus, though we all had to contact dough through in app chat to get it. We transferred $2500+ each from Fidelity brokerage accounts, though the in app method to create an acat transfer did not work for us. Also, fidelity doesn’t charge for outbound transfers, so this was a total $75 profit each. We had to print, fill out and scan paper forms and send them by email in order to initiate the acat transfers.

Brian C 🐕

I got a new offer yesterday for $50 when depositing $2500. Existing account for a long time, never use it.

P2 got the same offer. anyone else?

William Charles Chuck

Craig
Craig

so basically it’s just a reimbursement for the trouble of conducting a transfer. not worth the hassle

Eric
Eric

That’s correct. I emailed them as soon as I saw the offer in my email to ask if they refund the fee. They admitted that the $75 is meant to cover that. What a lousy promo.

sg77

It might still be useful if you do a partial transfer from a brokerage that doesn’t charge a fee. It sounds like Dough will give you $75 regardless of whether you were charged a fee.

Jan
Jan

This has to be an ACAT transfer, which makes it a bit more painful than your usual transfers. Most accounts have high ACAT out fees (Robinhood has a $75 fee for both partial and full ACAT out.) I took a look at the ACAT fees for various brokerages and I’m pretty sure the best option is Fidelity. Vanguard also has $0 ACAT out fees, but their UI is a bit more painful. Schwab, Robinhood, Webull, rest of the big names etc all charge ACAT out fees.

I have Fidelity already for my HSA, so I planned to just open up a normal brokerage account at Fidelity, transfer $2600 there, just keep everything in cash, and then ACAT out $2500. Has anyone else done this (an ACAT out of Fidelity?) Anything to keep in mind?

BroOnTravel
BroOnTravel

I’ve never had a problem with partial ACATs out of Fidelity or E-Trade. Merrill Edge is a total nightmare though and I regret working with them.

sg77

What problems have you had at Merrill Edge? They’ve been ok for me (though I’m not a heavy trader), and I have done partial transfers out of them with no fee.

kai
kai

This is an app only product. i’m old school. pass

Steve
Steve

These guys have Apex as their clearing firm, same ones who shut down buying of GME and those other stocks when they were blowing up.

Superchurn
Superchurn

all the more reason to sign up, take the $75, and then dump them

mortcourt01@gmail.com
mortcourt01@gmail.com

I don’t really get the deal here, if you transfer from robinhood to dough it’s just covering the fees, correct?
Webull covers up to $100 too.

Ted
Ted

Lame. Do E-Toro to get $50 USD upon depositing $100. Can do it multiple times with referrals, too.

ieatdogfood
ieatdogfood

eToro requires a $100 trade, not just a deposit.

Steve
Steve

Etoro screwed me out of the $50 bonus, I wouldn’t trust them

TB
TB

Also, can’t churn

SW
SW

“dough will then fund your account for those fees with a $75.00 cash deposit in your dough account”

I’m wondering if you transfer from a transfer-out-fee-free brokerage, do you still qualify? Since this is labeled as a reimbursement of fees.

TB
TB

As long as its an ACAT, it should work. Curious which transfer-out-fee-free brokerage(s) you’re referring to here?

Martin
Martin

Etrade and TD Ameritrade have free partial transfer out.

SW
SW

Interactive Brokers or Fidelity. I confirmed with a rep that although the intent is to reimburse fees, they’ll credit $75 regardless.

During a past reimbursement with Ally, I had to provide my other brokerage’s statement showing the fee for proof, so just wanted to double check.

JV
JV

Is a cash transfer from a checking account work?

Dan M
Dan M

That my question. All this would do is cover the cost of the brokerage to brokerage fee

Ice
Ice

Seems to require another Brokerage if you’re sending thru ACAT

TB
TB

Nope, the terms pretty clearly talk specifically about ACAT