This post is part of our series on IRA & Brokerage bonuses. Every Tuesday we share another bonus with you.
The Offer
M&T Securities (MTS) is offering a tiered cash bonus of between $100-$500 for customers who rollover or transfer their IRA or retirement plan assets into a new or existing MTS IRA with at least $25,000. To receive the maximum $500 bonus, one would need to rollover or transfer at least $250,000.
| Deposit | Bonus | ROI (pre-tax) |
| $25,000+ | $100 | 0.4% |
| $100,000+ | $250 | 0.25% |
| $250,000+ | $500 | 0.2% |
Cash Bonus of Up to $500
To receive the offer, you must do the following:
- Schedule a complimentary review with MTS.
- Open an MTS IRA if you do not already own one.
- Rollover or transfer your existing IRA assets to an MTS Traditional or Roth IRA with at least $25,000 in assets within 60 days of account transfer initiation and by no later than 12/31/2015.
Rules:
- Offer expires 12/31/2015.
- The qualifying rollover/transfer assets must come from an IRA not held at MTS or its affiliates.
- This offer cannot be applied for rollovers to tax-qualified employer plans, ERISA plans, non-IRA accounts, or M&T retirement plans.
- One rollover bonus per individual is permitted.
- Offer available to U.S. residents only, who are eligible to make additional IRA contributions for 2015.
- Your rolled-over or transferred IRA or retirement plan account assets must be received by MTS 60 calendar days of the date you completed and signed the transfer request form.
- You must maintain the assets in your MTS IRA through the date that MTS calculates and pays out your bonus into your MTS IRA. The bonus would be paid within 120 calendar days after the date MTS received your qualifying assets.
- The bonus would be deposited into your MTS IRA as a 2015 contribution.
- You are responsible for any taxes resulting from this cash bonus.
The Verdict
The MTS promotion may offer a lower barrier to entry at the lowest deposit tier, but others, for example, Fidelity’s offer, is more generous at the higher deposit tiers. If you are considering a rollover or transfer or your retirement assets, ensure that you have confidence in whichever broker you choose, regardless of promotions offered. Your interest in pursuing any cash bonus promotion will also depend upon your deposit commitment.
For those interested, M&T is a member of FINRA/SIPC. M&T was also recognized by Greenwich Associates in 2011 for excellence in customer service to its treasury management customers.
Do you have experience with M&T Securities? Let us know in the comments below!
