Published on November 10th, 2019 | by Chuck108
[YMMV] Merrill Edge Brokerage Bonus: up to $1,000 In Cash for Transferring Over Investments
Update 11/9/19: Deal is back with promo code 2019LVEXPO. Available until January 9th, 2020. Hat tip to intervested99
Update 9/16/19: Deal is back with promo code SFMS19 through 10/17/19. Again, it might only work for Moneyshow attendees, as before.
Update 6/29/19: Deal is back for 2019, keep in mind the targeted language still applies.
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: CHEXPO19.
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.September 5th, 2019
- 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(including cash, securities and/or margin debit balance transfers) from external accounts, and subtracting assets withdrawn or transferred out of the account within the 180-day holding period.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:
- 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.
- Merrill Edge MarketPro® Trial begins within 5 business days of opening your self-directed account and expires after 90 calendar days.
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