Posted by Chuck on December 10, 2017
Brokerage Bonuses merrill-edge-brokerage-bonus

Published on December 10th, 2017 | by Chuck


[Expired] Merrill Edge Brokerage Bonus: up to $1,000 In Cash for Transferring Over Investments [Targeted]

The Offer

Direct Link to offer

Open a new Merrill Edge account and transfer between $20,00 and $200,000 in assets to get the following bonus tiers:

  • Transfer $200,000 or more and get a $1,000 bonus (standard is $600)
  • Transfer $100,000 or more and get a $500 bonus (standard is $250)
  • Transfer $50,000 or more and get a $250 bonus (standard is $150)
  • Transfer $20,000 or more and get a $100 bonus (this is the standard)

Go to Merrill Edge, choose which type of investment account you want to open, and input offer code: LVEXPO17.

The offer page indicates this offer is only valid for TradersExpo attendees. Try calling in and get an advisor to open up the account with, and see if they’ll extend it to you.

The Fine Print

  • Offer expires 12/31/17 12/15/17.
  • Offer valid only for new personal Merrill Edge IRA or CMA accounts.
  • Offer is limited to one per account type (CMA or IRA); two total per accountholder (or per all accountholders of a joint account). Eligible IRAs limited to Rollover, Traditional, Roth and Sole-Proprietor SEP IRAs only. This offer does not apply to Merrill Edge Guided Investing 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.
  • You must have the qualifying balance 180 days after funding.
  • Must fund your account within 45 days with funds originating outside Bank of America and MLPF&S. Funds cannot originate from 401(k) accounts administered by MLPF&S.
  • For purposes of this offer, qualifying balances are calculated by adding total incoming assets or transfers (including cash, securities and/or margin debit balance transfers) from external accounts, and subtracting assets withdrawn or transferred out of the account within the 180-day holding period.
  • Cash reward will be deposited into your IRA or CMA within two weeks after you meet qualifying criteria.
  •  The value of this reward you receive may constitute taxable income. In addition, Merrill Lynch may issue an Internal Revenue Service Form 1099 (or other appropriate form) to you that reflects the value of this reward. Please consult your tax advisor, as Bank of America Corporation and its affiliates and associates do not provide tax advice.

If your new account is a Merrill Edge self-directed IRA or CMA account, you also qualify for the following benefits:

  1. Commission-free trades begin within 5 business days of account opening and must be used within 90 calendar days; up to 300 trades per account.
  2. Merrill Edge MarketPro® Trial begins within 5 business days of opening your self-directed account and expires after 90 calendar days.

Our Verdict

There is no direct link for this offer, just input the promo code to see the offer details. You can check out last year’s link as the details are the same (our coverage of last year’s deal here). It might be a good idea to confirm the bonus with Merrill Edge first to ensure this is a public offer since there’s no landing page, but it shows the details clearly when you input the promo code so it should work regardless.

The standard Merrill Edge offer is to get between $100-$600; with this offer it’s $100-$1,000. Truth be told, Merrill agents might always be able to apply this offer if they choose, but it’s easier to do when it’s a public offer and you don’t have to beg. try calling in and seeing if they’ll extend this offer to you as well. Note that the standard $600 bonus offer only requires holding the funds there for 90 days while this $1k offer requires 180 days.

There are lots of brokerage bonuses (this one being from the better ones), but the real reason a lot of us are interested in using Merrill Edge is due to their Preferred Rewards structure which can give you a regular 2.62% earnings on all spend and other nice earning opportunities. The 2.62% rate works both on the new Premium Rewards card and on the Travel Rewards card. If you have the former, it’ll be simple 2.62% cash back while with the latter it’s cash back when offsetting travel purchases. Keep in mind, you do need also a Bank of America checking account to qualify for Preferred Rewards.

You can see more analysis of the Merrill Edge brokerage and their free trade offer here. Please do you own research or ask your financial advisers before making such a move. It won’t be right for everyone, plus there are tax implications if not done properly.

Hat tip to reader Richard8655

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If you deposit $50k+ you’ll also receive 30 free trades every month thanks to BOA’s Preferred Rewards. $100k+ gets you 100 free trades a month.

Any cash bonus in addition to free trades? TIA.

No, but there are many perks for being a Preferred Client. DoC has several articles.

I should’ve specified. Having Preferred Rewards doesn’t grant you a bonus in and of itself, but as DoC explains this cash bonus here will stack with their rewards program.

Existing Merrill Edge clients who have not received a bonus in the past year can usually get these bonuses for adding additional funds. You have to call in to get it applied to your existing account and often have to call in again when the bonus is supposed to be paid.

“Keep in mind, you do need also a Bank of America checking account to qualify for Preferred Rewards.”

But, notably there will be no minimum balance or fees on that checking account if you do qualify for Preferred Rewards.

Direct link to the offer:

Also, expiring on December 15, 2017

I thought I should mention that it seems like this higher offer requires you to leave the money in the account for 180 days. The standard offer was only 90 days.

Once you get the money in there and you don’t want to trade because of risk to capital, you can just open up a CD. They have time duration’s of 1 to 6 months with semi competitive yields. That way you money isn’t just sitting there it’s working for you.

What’s their current 6-month CD rate?

Don’t brokerages usually have fees for closing your old account though? Might be able to leave a little in (or zero?) and keep the old one Olson if there’s no fees

It is so silly, they don’t allow H1B visa investors to trade, where rest of the brokers do, like Fidelity etc,
Oh well

Do I need to ask my current broker to do anything? Thanks.

“Offer is limited to one per account type (CMA or IRA); two total per accountholder (or per all accountholders of a joint account). ”

Does this mean we get bonus for individual acct and IRA acct, for a total of $2,000? I know this might seem obvious but I just want to make sure.

I’m reading it the same way. If you open a CMA account and an IRA account, you can get the bonus twice. I’m going to try it and hopefully get both.

i opened both accounts as well. hopefully, it’s $1000 x 2

Can I do a combination of cash and equity? For example, I open a new account, transfer $25K cash and $75K in equity. Will I be qualified for the $500 bonus?


Yes, but your 25k cash would be tied up for 180 days.

Thanks. Is it OK for me to buy stocks/mutual funds/CDs once I deposit that 25K cash as I don’t want the money sitting there without earning anything.

Yes, they don’t care what you do with the money as long as it’s tied to their brokerage.

Would BOA try to weasel out of this offer because of the “This limited time offer is valid only for TradersExpo attendees” verbiage?

YMMV, but YES! It happened to me! They would not give me the higher bonus (for my transfer into their CMA) because I could not prove I was physically present at the “expo” (whichever one it was about a year ago). I used the link for the higher bonus, but I automatically got the lower bonus after 90 days (plus about a week) and when I inquired they said I’m not eligible unless I can prove I was physically present at the “expo”. Ironically I did an IRA at the same time and I did get the higher bonus automatically after 180 days (plus about a week). So I know YMMV because MMDV!

Also, yes, you can do both CMA and IRA (1 of each).

Hmm the Las Vegas Traders Expo was able to be live-streamed…
hopefully it doesn’t need to get argued.

I don’t have enough cash to open the account, but I have the vested RSU from my employee in my Charles Schwab account. How can I transfer those stocks to the new account?

Is my math correct? $1K bonus for $200K is merely 1% return for 180 days. Do they pay additional interests for parking your money there? If so, how much? TIA

Nothing if you just keep it as cash.

Merrill Edge Preferred Deposit currently paying 0.94%. Not a lot but better than nothing.

Buy a 6 month CD that pays 1.50% once your money is parked there. It’ll be FDIC insured as well. That then is on top of the $1000 for the offer. Good safe 6 month return in my book

It’s a brokerage, you don’t park money there, but invest.

Any data point for a BOA business checking account being eligible for preferred rewards and eligibiliity for their CC then linked to this brokerage? Or does it have to be a personal checking account with BOA?

I went the $1000 bonus offer. Hoping for the best. If not, $600 would be good too.

any luck?

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