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tuphat
tuphat (@guest_1940265)
October 29, 2024 09:03

FWIW – Received email from Webull with very similar offer (2 yr hold/earnout, monthly payments):

From October 24, 2024, to November 30, 2024, you can grab a 2.0% cash bonus and an APY booster with qualifying deposits into your Webull cash or margin accounts.

Here’s how it works: 

Double the Rewards: Earn a 2.0% cash bonus and an APY booster, whether you make a single deposit or multiple deposits during the same funding period.

Monthly Bonuses: Keep the rewards coming! Get paid every month as long as you maintain your qualifying deposits. 

Dealgamer
Dealgamer (@guest_1940058)
October 28, 2024 21:00

Welp, I figured this would happen at some point, but didn’t expect it so soon. Now gold is really only good if you can make use of the ira deposit match or the credit card.

MBE
MBE (@guest_1940248)
October 29, 2024 08:35

I’m still on the waitlist for the credit card. 😢

tuphat
tuphat (@guest_1940320)
October 29, 2024 10:34

Agree to disagree? (1) Gold still gets you higher-than-market APY on cash balances. (2) Gold, maybe plus large balance, gets priority customer service; I get very quick responses to calls/emails. (3) $1k free margin. (4) $50/yr not a big deal.

Just, like, my opinion, man.

Dealgamer
Dealgamer (@guest_1940449)
October 29, 2024 14:14

True, but I mean getting high apy isn’t anything special when you can get even higher for free elsewhere. And if you go to someone like Schwab you always get good customer service.

The 1k free margin actually is the best part of it atm as you can invest it in SGOV or whatever and make Gold free more or less. Problem is since I personally don’t value gold in general there’s not much point even at free (though actually I do want the credit card) and interest rates are falling so the value of the margin goes down, unless you invest it in long term vehicles I guess.

Happy for you if you find value in it though.

Thelen
Thelen (@guest_1940707)
October 29, 2024 21:57

I got the 3% and 2% bonuses for Robinhood, but wealthfront honestly has the greatest checking account. It has been 5% and is now 4.5% with no fees or minimums and you can have deposits and pay all your bills from it while also using their brokerage to buy stocks or if you want have their automated broker (0.25% fee) invest and tax loss harvest for you. I’d probably go back to them if the big bonuses didn’t lock me in for so long.

Yawgoog
Yawgoog (@guest_1940048)
October 28, 2024 20:50

FYI: Robinhood Launches Presidential Election Betting Market Allowing Users To Wager On Harris And Trump

https://www.forbes.com/sites/dereksaul/2024/10/28/robinhood-launches-presidential-election-betting-market-allowing-users-to-wager-on-harris-and-trump/

MBE
MBE (@guest_1940249)
October 29, 2024 08:36

I would have thought that one of the sports betting apps would do this.

CO
CO (@guest_1939956)
October 28, 2024 19:02

 Chuck Welp that was quick. Email was sent out today: They’re discontinuing the Gold deposit boost effective Nov 25.
https://robinhood.com/us/en/support/articles/robinhood-gold-deposit-boost/

Preacher
Preacher (@guest_1873868)
July 12, 2024 20:19

So if we withdraw deposits before two years, we’ll get the extra 1% we’ve already earned each month clawed back?

Raj
Raj (@guest_1888898)
August 6, 2024 16:33

No. You will keep everything you’ve already earned, but will forfeit any of the remaining, unpaid 24 bonus payments.

slickdealer
slickdealer (@guest_1864404)
June 25, 2024 02:03

was tempted to ACATS over my cash from IBKR but i don’t like that we have to leave it in there for 2 years. not worth it to lock up that much cash if other investment opportunities arise

Raj
Raj (@guest_1888899)
August 6, 2024 16:35

You don’t have to keep it there any longer than you want. Their language is deliberately psychologically misleading, but it’s still clear that you keep all the payments you got no matter when you withdraw. You just forfeit future payments, which is no different from withdrawing money in any other interest-earning account.

Steve
Steve (@guest_1891671)
August 11, 2024 23:25

No, it is different from other interest-earning accounts. If you deposit $100,000 into a bank account that pays 0.5% interest, then withdraw half at the end of year 1, and withdraw the rest at the end of year 2, you will have earned around $750 in interest total. If you do the same at Robinhood, you will have earned around $500 total.

tuphat
tuphat (@guest_1940271)
October 29, 2024 09:05

Why ACATS cash unless it’s required for promo? Just transfer it directly from one broker to the other.

CC
CC (@guest_1860063)
June 15, 2024 09:57

So if I am planning on doing the Roth IRA 3% match, does that get bumped to 4%, assuming the requirements are met?

Jeremy
Jeremy (@guest_1860679)
June 17, 2024 11:17
  CC

No, 3% IRA offer is over as well as I’m aware

Fred F
Fred F (@guest_1860045)
June 15, 2024 05:16

I’m curious, Do we have to opt-in to this new bonus? Do existing funds we have in the CMA/brokerage automatically be eligible for this deal?
I just withdrew the $20K I had in the taxable/CMA and plan on throwing them (plus more) in.

tom
tom (@guest_1859806)
June 14, 2024 15:17

I was hoping to use this like mentioned in the post, for cash basically getting a 5.5% interest in monthly payments.

From the post: “you can always withdraw your money and keep the boosts already received.” — I’m not so sure about this part after reading the terms.

It seems like any withdrawals will forfeit the entire boost for the amount withdrawn, unless I am misunderstanding the terms (see example 3 — $9 reduction for $900 withdrawal). Although you are paid out monthly, future payments will reduce by the full 1% amount for whatever amount you withdraw. So effectively in future months you are giving back what was already paid out.

Hoping someone can clarify that I am reading the terms correctly.

JD
JD (@guest_1859856)
June 14, 2024 17:02

No, in future months you will be forfeiting what you are no longer entitled to because of the withdrawal. The $9 reduction would be divided among the remaining months applicable to the deposit that originally earned it (last in, first out I think). They won’t claw back what you’ve already received.

Steve
Steve (@guest_1860155)
June 15, 2024 17:23
  JD

Tom is still correct, though. You will lose the full 1% on the amount you withdraw – even if it stayed in the account for 23 months and 29 days – rather than getting to keep most of it, so long as you still have other ongoing payments.

JD
JD (@guest_1860193)
June 15, 2024 21:47

Thanks, I see it now and stand corrected.

Nick
Nick (@guest_1859745)
June 14, 2024 13:28

For the record you don’t have to deposit to the cash account then invest. This works on straight deposits in investments as well.

Just received the 1% bonus on my weekly automated invetment of VTI.

Fred F
Fred F (@guest_1860044)
June 15, 2024 05:15

Did you have to opt-in to this new bonus? Did existing funds you had in the CMA/brokerage automatically be eligible for this deal?
Thanks.