[Targeted] E*Trade: Up To $3,500 Brokerage Bonus ($25,000-$1,000,000 Required)

The Offer

No direct link to offer. Sent out via e-mail, subject line is ‘ For a limited time, get up to $3,500 – ETrade bonus’

  • E*Trade is offering a bonus of up to $3,500 when you open up a new E*Trade. Bonus is tiered depending on how much you deposit in cash or securities within 60 days of account opening.
    • $3,500 bonus when you open a new account with $1,000,000+
    • $1,200 bonus when you open a new account with $500,000-$999,999
    • $600 bonus when you open a new account with $250,000-$499,999
    • $300 bonus when you open a new account with $100,000-$249,999
    • $200 bonus when you open a new account with $25,000-$99,999
    • $100 bonus when you open a new account with $5,000-$24,999

The Fine Print

    • Cash credits will be granted based on deposits of new funds or securities from external accounts made within 60 days of account opening, as follows: $5,000-$24,999 will receive $100;
    • $25,000-$99,999 will receive $200;
    • $100,000-$199,999 will receive $500;
    • $200,000 – $249,999 will receive $800;
    • $250,000-$499,999 will receive $1000;
    • $500,000-$999,999 will receive $1,500;
    • $1,000,000 or more will receive $3,500.
  • If you deposit $250,000-$499,999, you will receive a cash credit within seven business days.
  • If you have deposited at least $250,000 in the new account, and you make subsequent deposits in that account to reach a higher tier, you will receive a second cash credit following the close of the 60-day window. For example, if you deposit $300,000, you will receive a cash credit of $1000 within seven business days, then if you deposit another $200,000 you will receive an additional cash credit of $500 at the end of the 60-day window for a total reward of $1,500. If you deposit $1,000,000 or more, you will receive a cash credit within seven business days. 
  • All other reward tiers ($5,000-$24,999; $25,000-$99,999; $100,000-$199,999; $200,000 – $249,999; $500,000-$999,999) will be paid following the expiration of the 60-day period. 
  • In addition, if you deposit $500,000 or more into your new account, deposits made in eligible linked accounts during the 60 day period will be aggregated for purposes of the reward and the credits will be paid pro-rata to all accounts where deposits were made during the 60-day period. For example, if you have deposited $500,000 in your new account during the 60 day period, and during the same period you deposited $100,000 into another eligible account you have linked to the new account you will receive $1,250 in your new account and $250 into the other eligible account. 
  • Excludes current E*TRADE Financial Corporation associates, non-US residents, and any jurisdiction where this offer is not valid. You must be the original recipient of this offer to enroll. This offer is not valid for E*TRADE Securities retirement, E*TRADE Futures, E*TRADE Bank, or E*TRADE Savings Bank accounts. One promotion per customer. E*TRADE Securities reserves the right to terminate this offer at any time. Must be enrolled by April 28, 2020, the offer expiration date.

Our Verdict

This looks to be targeted to previous customers. Better than the other existing customer deal that is offered publicly.

Hat tip to reader H F

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Jab
Jab

Not targeted via email, used link from comments and got bonus. Link is https://us.etrade.com/what-we-offer/how-it-works/bailer-enrollment

AllwaysLearning22
AllwaysLearning22

I also received the targeted e-mail (has an account with them ages ago), but the conditions are only in the e-mail. When you open the link from the e-mail directly takes you to a ‘open an account’ page and no conditions are mentioned anywhere. So, I am guessing if there are problems with the bonus posting you might have to call, etc.

Otherwise:
1) I do not see any language requiring the funds to be invested, i.e. I could push $5K cash and then withdraw $5K + $100 bonus in cash, without ever have invested any of it

2) There is a public offer for $100 on $5K – https://us.etrade.com/what-we-offer/how-it-works/brokerage. The terms of the offer seems clearly laid out there

3) It seems the bonus is paid at the end of the 60 days period (from account opening), so it seems to me I could open on say 4/1, send the 5K on 5/15 and get the bonus on 5/30.

Still not convinced it is worth doing for $100, so have not decided yet.

Any opinions?

musicforthedeaf
musicforthedeaf

Funds need to be there for six months:

“New funds or securities must: be deposited or transferred within 60 days of enrollment in offer, be from accounts outside of E*TRADE, and remain in the account (minus any trading losses) for a minimum of six months or the cash credit may be surrendered.”

uirmwent?
uirmwent?

musicforthedeaf,
Where did you copy the six month requirement from?

calwatch
calwatch

The clawback language is on this page: https://us.etrade.com/what-we-offer/how-it-works/bailer-enrollment but it was not in the original email nor the web version of the email.

anita
anita

btw your numbers under “The Offer” and “The Fine Print” don’t match

anita
anita
ABC
ABC

How long do I have to keep $1M in the account to get the bonus?

calwatch
calwatch

Based on this I think it’s seven days. There’s no minimum duration of holding in the disclosure.

Cash credits will be granted based on deposits of new funds or securities from external accounts made within 60 days of account opening, as follows: $5,000-$24,999 will receive $100; $25,000-$99,999 will receive $200; $100,000-$199,999 will receive $500; $200,000 – $249,999 will receive $800; $250,000-$499,999 will receive $1000; $500,000-$999,999 will receive $1,500; $1,000,000 or more will receive $3,500. If you deposit $250,000-$499,999, you will receive a cash credit within seven business days. If you have deposited at least $250,000 in the new account, and you make subsequent deposits in that account to reach a higher tier, you will receive a second cash credit following the close of the 60-day window. For example, if you deposit $300,000, you will receive a cash credit of $1000 within seven business days, then if you deposit another $200,000 you will receive an additional cash credit of $500 at the end of the 60-day window for a total reward of $1,500. If you deposit $1,000,000 or more, you will receive a cash credit within seven business days.

All other reward tiers ($5,000-$24,999; $25,000-$99,999; $100,000-$199,999; $200,000 – $249,999; $500,000-$999,999) will be paid following the expiration of the 60-day period.

Mark
Mark

If you like any of these Etrade offers, you can contact Etrade and just ask for them.

debit
debit

You will also get the free morgan stanley platinum amex card if you bring in 1 million.

Or you wish.