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monto888 said:   
monto888 said:   Was just looking to take advantage of Merrill's renewed promo tiers (i.e. $1000 for $200k) by asking other brokers to match them and sure enough, Schwab and ETrade  were able to do so virtually immediately.

I basically just said was I was interested in transferring over X amount in new assets and I saw their advertised offers, but could you sweeten the pot or match a competitor's offer. Schwab took a few days and sent me an offer letter in the mail with terms spelled out, while ETrade  , before I even mentioned the ME offer, said they have a separate set of promotion tiers than what's advertised online and sent me a unique link with the higher bonuses for "valued clients".

  
Attempted the same process with TD Ameritrade and they also matched the Merrill offer. When I spoke to the CSR at the 1-800 number, he said he didn't think a match could be done, but I asked if he could research things with his promotions/marketing division. Two days later, the local TDA branch called me up and said there's a separate set of higher bonuses with a different 3-digit application code.

I guess the national call center folks aren't very familiar with these, as it was the local TDA and ETrade  reps that were aware of and enrolled my accounts in the higher tiers.

posting etfc link and amtd 3-digit codes would be much appreciated, if they are public.

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ps. found a TD link (Offer Code 277) https://www.tdameritrade.com/offer/for90days/index.html which gives 1000 for 250k

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ProfessorEd said:   
Some firms will combine taxable brokerages and IRA's to reach a total


Know of any? Every firm I've asked says the bonus thresholds are for a single account. They won't even combine Roth and traditional IRAs.

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jmorgans said:   
ProfessorEd said:   
Some firms will combine taxable brokerages and IRA's to reach a total


Know of any? Every firm I've asked says the bonus thresholds are for a single account. They won't even combine Roth and traditional IRAs.

  I remember at one firm seemed to have that, but since it was not relevant to my circumstances, I did not pay much attention. I think it may have been Firstrade, but do not hold me to it. 

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Capital One Investing has another code for new and existing accounts. This appears to work on IRA and non IRA accounts.

LINK 
Binus Deposit
$600 $199,900.01
$300 $99,900.01
$200 $49,900.01
$100 $14,900.01
$50 $5,000.00


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monto888 said:   
monto888 said:   Was just looking to take advantage of Merrill's renewed promo tiers (i.e. $1000 for $200k) by asking other brokers to match them and sure enough, Schwab and ETrade  were able to do so virtually immediately.

I basically just said was I was interested in transferring over X amount in new assets and I saw their advertised offers, but could you sweeten the pot or match a competitor's offer. Schwab took a few days and sent me an offer letter in the mail with terms spelled out, while ETrade  , before I even mentioned the ME offer, said they have a separate set of promotion tiers than what's advertised online and sent me a unique link with the higher bonuses for "valued clients".

Attempted the same process with TD Ameritrade and they also matched the Merrill offer. When I spoke to the CSR at the 1-800 number, he said he didn't think a match could be done, but I asked if he could research things with his promotions/marketing division. Two days later, the local TDA branch called me up and said there's a separate set of higher bonuses with a different 3-digit application code.
 

What were the higher tiers and bonuses for Merrill direct, e*trade, and TD Ameritade?

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bankdealsrule said:   
monto888 said:   
monto888 said:   Was just looking to take advantage of Merrill's renewed promo tiers (i.e. $1000 for $200k) by asking other brokers to match them and sure enough, Schwab and ETrade  were able to do so virtually immediately.

I basically just said was I was interested in transferring over X amount in new assets and I saw their advertised offers, but could you sweeten the pot or match a competitor's offer. Schwab took a few days and sent me an offer letter in the mail with terms spelled out, while ETrade  , before I even mentioned the ME offer, said they have a separate set of promotion tiers than what's advertised online and sent me a unique link with the higher bonuses for "valued clients".

Attempted the same process with TD Ameritrade and they also matched the Merrill offer. When I spoke to the CSR at the 1-800 number, he said he didn't think a match could be done, but I asked if he could research things with his promotions/marketing division. Two days later, the local TDA branch called me up and said there's a separate set of higher bonuses with a different 3-digit application code.

What were the higher tiers and bonuses for Merrill direct, e*trade, and TD Ameritade?

  Yea, libralibra shared the code 277 link/details above, but those tiers are here 

The ETrade  link is not public, unfortunately, but here are those higher tiers for "valued clients".

The ME offer is here, with their tiers shown here

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ProfessorEd said:   
onProfessorEd said:   I called CITI Wealth Management regarding their offer of $1,000 for bringing over a million, and $500 for $200,000, both for IRA money.

I knew they were high fee brokers with an annual fee of $75 to maintain the account (and an inactivity fee of $100 if the account was below $50,000, and that these were waived if you had a Gold relationship, which required $50,000 in deposits. 

According to the woman on the phone, your IRA counted towards the $50,000 minimum, which meant that you would avoid the annual fees and the inactivity fees if you brought over enough for the bonus, and would get what ever benefits a Gold relationship brought you.

This may make the package more attractive to a buy and hold investor who would not pay. their high commissions to an appreciable degree, bringing over positions from another firm.

According to Money Hustler there is a $500 cash offer for opening a CITI Gold account and funding it for $50,000 for one month (expires April 17), see http://www.hustlermoneyblog.com/citibank-citigold-promotion-chec... 

The CITI chat representative states that IRA money does not count for this $50,000, so you are tying up $50,000 for at least a month for 1% (admittedly a 12% annualized yield if holding is only a month.. However, to get the bonus you must keep the account open for long enough for it to be deposited, and that would mean either leaving the money for at least two more months, or paying monthly fees of $30 per month. However if your IRA is large enough, it appears you could then draw your CITI Gold account down and avoid the fees.

You could even earn a few Thankyou points, if you start a direct deposit, make a bill payment, and use your debit card. This might make the CITI Wealth Management more attractive.

  
Paperwork problems often occur on what seems like a simple account opening. Since I would be near a branch on an errand, I had the papers sent there and I signed them to open the account, and arranged the transfer of securities in to fund the IRA, Simpler this way.

I also inquired about the Gold Relationship bonus, and was told the offer had expired.  I met the Gold relationship manager (obsequious) and she said it had been slightly extended to the 17th and she could request an exception. However, it then emerged you had to be a new customer and I was ineligible since I had a long standing account (where i was leaving a dime interest free to keep the account open, so I cold get things notarized, etc.). She did suggest it might be possible to get the $500 bonus if my wife came in and opened the account, but she claimed it could not be done remotely.

They were nice enough to let me stay after closing hours to finish, and then let me out

Some of the online sources do not describe an exclusion of existing checking account customers, or that it had to be done in person. I wonder if there was some confusion, or if the relationship manager was anxious to have it done in branch so she would get credit for it, and that she gets no credit for a customer that upgrades an account.

Hence if there is anyone who want both bonuses, they should hurry since April 17 is coming soon. They may want to open the Gold account on line to have a higher probability of getting the bonus.

It appears I might have been better off if I had not retained this old account.(although it did make it easier to set up on line access, etc.)

I went on a opened a new Gold relationship since it would be free due to the size of my IRA,,and it would earn a few Thankyou points. It would also get me obsequious service from a personal banker, which might come in useful someday. The Gold is free if you have over $50,000 in an IRA.. .

  To continue the Saga, I called the CITIGold application line (Hustler had said "1-866-535-3906 and mention code 439G8TGJJJ.") where the women said I could qualify for the offer even if a I had a another type of CITI checking account (in my case one that had been kept open and was fee free because I was over 62. Since I had already signed up for a CITI gold the day before there was an issue, but she would try to get the code added contacting the branch

I had also called because it had not sounded right to me that a joint account could not be opened up over the phone or on line (and had been told my wife wo), confirming my suspicion the branch lady was trying to get it opened in the branch so she could get credit for it. Of course, this experience shows the claim that a Gold relationship go you the best service CITI could offer from well informed representatives, going further to convince me it was not worth much (unless it was free due to having a large sum on deposit due to the IRA promotion).

While the Bank promotion is somewhat independent on the brokerage one, if you take the brokerage the other becomes more attractive. Without the brokerage promotion to benefit from the bank one you would need to deposit $50,000 for a month (at essentially 0% interest), and then wait 3 months with the account open, which would mean continuing to leave the $50,000 there (the bank Gold relationship manager seemed to think this was the only alternative), or pull most of it out and then pay $30 per month as a  fee, reducing the profitability of the offer. Of course, opening and closing the account  is some work. With the IRA promotion  there are no fees to keep it open, and you could take most of the money out after a month, or invest it in some more profitable way. With the CITI Gold free, you may want to do the other work to earn Thanks you points from it (direct deposits, bill pay, linked savings account, etc).

After the 2 months you needed to keep the funds in the Wealth Management account ($200,000 to a $1,000,000) you might wish to reduce it (although they are probably as good a place as any to hold positions), keeping $50,000 at least in it to keep the CITIGold free, picking a position or position you did not plan to trade.

If you do want to take advantage of the CITIGold account offer, the deadline is April 17 for opening the bank account.

A possible lesson may be to close unused accounts rather than keeping them open, and be cautious of bank representatives.

Since I picked up hints that there soon would be a saving account promotion, perhaps I should close my savings account now.  Has anyone watched their promotions long enough to know if I should (and give up the few points I might earn from linking it to a Gold checking account and making regular deposits into it).
 

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Has anybody had experience with what happens if you take some money out early.

I could imagine needing funds for living expenses and having to take some out before the year (or whatever the period was) was up.

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ProfessorEd said:   Has anybody had experience with what happens if you take some money out early.

I could imagine needing funds for living expenses and having to take some out before the year (or whatever the period was) was up.

  I could imagine nobody around this FWF thread taking the chance of having their bonus taken away.  Have to guess that everybody in this thread has a plurality of asset and credit accounts they can tap into for emergency cash.

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monto888 said:   
bankdealsrule said:   
monto888 said:   
monto888 said:   Was just looking to take advantage of Merrill's renewed promo tiers (i.e. $1000 for $200k) by asking other brokers to match them and sure enough, Schwab and ETrade  were able to do so virtually immediately.

I basically just said was I was interested in transferring over X amount in new assets and I saw their advertised offers, but could you sweeten the pot or match a competitor's offer. Schwab took a few days and sent me an offer letter in the mail with terms spelled out, while ETrade  , before I even mentioned the ME offer, said they have a separate set of promotion tiers than what's advertised online and sent me a unique link with the higher bonuses for "valued clients".

Attempted the same process with TD Ameritrade and they also matched the Merrill offer. When I spoke to the CSR at the 1-800 number, he said he didn't think a match could be done, but I asked if he could research things with his promotions/marketing division. Two days later, the local TDA branch called me up and said there's a separate set of higher bonuses with a different 3-digit application code.

What were the higher tiers and bonuses for Merrill direct, e*trade, and TD Ameritade?

  Yea, libralibra shared the code 277 link/details above, but those tiers are here 

The ETrade  link is not public, unfortunately, but here are those higher tiers for "valued clients".

The ME offer is here, with their tiers shown here

e-mailed E*Trade rep asking about bringing new money into existing account - the account qualified for the higher tiers shown in your post.  The account value was barely over $1/4 mil at that time; so maybe that is what it takes to become a "valued client".

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axes mcmike522 said:   
ProfessorEd said:   Has anybody had experience with what happens if you take some money out early.

I could imagine needing funds for living expenses and having to take some out before the year (or whatever the period was) was up.

  I could imagine nobody around this FWF thread taking the chance of having their bonus taken away.  Have to guess that everybody in this thread has a plurality of asset and credit accounts they can tap into for emergency cash.

  Yes, you can tap into credit cards (or liquidate assets with tax consequences). However, losing a bonus of perhaps a few hundred dollars may be cheaper than paying high taxes or credit card interest when you need a few thousand dollars. With a reasonable chance of not needing the funds deposited, putting them into an account for a bonus is probably sensible.

Which deal or deals to take may depend on what happens if you end up deciding (or needing to) remove a few thousand.
 

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I took he BancWest offer for $2500 after transferring in a million.

I thought this might make me a good enough customer for them to consider opening a Premier checking account (which gets 15 free trades per month) even though on the East Coast, and made phone calls.

At first they agreed, and people thought they could mail me forms, etc.

However, today I had a phone call from someone I had talked to saying it would not work, but offering to help if I ever traveled near a branch, and even offering to meet me in another city (she apparently travels over a large area)
In practice, I think this would amount to phoning ahead so I was not rejected when they saw my address on a driver's license.

"Please do keep in touch so when we happen to be in the same city or when our New York office opens in the next few months, we will be able to open a deposit account for you also.  I look forward to getting to know you."

Those who are in, or trvel to New York, may find this worth knowing.
 

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Anyone transferred out from Capital One lately? via online chat they said medallion signature guarantee was required to transfer out, but a Merrill Edge rep said he has processed some transfers from Cap One that went through fine without it. Just wondering if anyone here has firsthand experience.

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Pipboy said:   Anyone transferred out from Capital One lately? via online chat they said medallion signature guarantee was required to transfer out, but a Merrill Edge rep said he has processed some transfers from Cap One that went through fine without it. Just wondering if anyone here has firsthand experience.
  They do require the guarantee, but if you have a rep you are working with, s/he can have Merrill Edge do it in the back office and they will send the form to Capital One.  Signature Guarantee is NOT the same as a notarized document.  Notarized document means the person signed in front of them, etc.  Signature Guarantee means the signature itself is authentic and the bank inherits the financial responsibility if it turns out to be fake. 

So when the rep said they have processed them, it's true they have, the back office puts it on there before they send the package out.  The way Merrill Edge works is you fill the form out and sign it and return to Merrill Edge for processing.  During processing they put it on there if it's required.  

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I described earlier how I was refused by Santander to open a new account for $600 bonus for bringing over $250,000 (there are others), with the fellow I talked to claiming I had to come into a branch. He had originally been enthusiastic and even willing to drive to my home, but after talking to his supervisor, he said it was not possible.

I recently called another branch and it does appear possible to open an account without coming there. The representative has to be licensed to do business in your state (general rules), and I found one in a branch (York) fairly close to the Md.-Pa. border. It appears it can be opened and he sent me the forms by E-mail to be faxed back.

You might have expected a well organized firm to have a few representatives licensed in the major states (to handle those who move, etc.) and a system to refer new clients to them (although it may be good business to avoid  offering bonuses to those out of their service region, since these may not stay with them after they collect on the bonuses).

Since there are still a couple days before the April 30, this may help someone. If you get an account open, you have a longer time to fund it.

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Pipboy said:   Anyone transferred out from Capital One lately? via online chat they said medallion signature guarantee was required to transfer out, but a Merrill Edge rep said he has processed some transfers from Cap One that went through fine without it. Just wondering if anyone here has firsthand experience.
  Yes, Cap One definitely does. I tried a transfer out to Ally and it was declined without it.

That's great that ME has BofA as a parent company and provides the MSG themselves

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Any experience on bonus eligibility for previously closed accounts for Ameritrade, ETrade etc? Is there a look back period, or is it once and done?

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 I notice from the Money Hustler blog's list of bonuses that M & T Investment Services has an offer out for IRA transfers. They apparently do a phone interview first before you can apply.

In the fine print they state the bonuses will be reported as a contribution (It is not clear how other firms handle this). This cold put you over the legal limit for contributions (those over 70 1/2 are allowed no contributions).

If this does happen, I believe there is provision for removing excess contributions and the earnings on them if done before the due date of your tax returns, although this would increase the paper work burden.

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monto888 said:   
Pipboy said:   Anyone transferred out from Capital One lately? via online chat they said medallion signature guarantee was required to transfer out, but a Merrill Edge rep said he has processed some transfers from Cap One that went through fine without it. Just wondering if anyone here has firsthand experience.
  Yes, Cap One definitely does. I tried a transfer out to Ally and it was declined without it.

That's great that ME has BofA as a parent company and provides the MSG themselves

  
Just to follow up, I submitted the transfer paperwork through Vanguard without a medallion sig guarantee because I'm lazy.  It went through with no issues.

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A lot of these the back office puts it on the paperwork before submitting. To reiterate, a Medallion Signature Guarantee is not a notary or notarized document, totally different purposes/functions. Read my comment above about what Merrill Edge does...

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Just got an e-mail from ETrade for existing customers.  Not sure if this is open to all E*TRADE account holders.  I guess somebody could ask their representative for this deal if this is targeted:

ETrade 


$500,000 - $999,999 gets $1,500 & 20 Free Options Trades

$250,000 - $499,999 gets $1,000 & 20 Free Options Trades

$100,000 - $249,999 gets $500 & 20 Free Options Trades

$25,000 - $99,999 gets $200 & 20 Free Options Trades

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