The Offer
- Robinhood is offering a 3% IRA and 401(k) rollover bonus. Valid until April 30, 2024.
The Fine Print
- 3% match requires Robinhood Gold (subscription fee applies).
- Keep Gold for 1 year and the IRA for 5 years
Our Verdict
This is different to the 3% contribution match available for Robinhood gold members. This offer also requires Robinhood gold. IRA must be kept for five years. We’ll add these to our List of Best Brokerage Bonuses.
Updated as Expired
it’s back until 10/27, 401k excluded this time
https://robinhood.com/us/en/support/articles/hood-week/
Anyone else getting push back on the fee reimbursement? Robinhood customer service agent is claiming “The fee reimbursement was rejected and it appears it’s because the screenshot doesn’t indicate a transfer fee. Do you have a screenshot that indicates the transfer fee? It needs to state transfer fee in the activity”.
I sent them the brokerages fee schedule (which matches the value of the line item) and apparently this was not sufficient either.
There’s discussion about that here: https://www.doctorofcredit.com/robinhood-gold-3-ira-transfer-bonus-unlimited-cash-bonus/#comment-1828752
I transferred out all but about $20 to avoid being charged a fee.
Thanks for linking that convo..sounds like there are some mixed scenarios there depending on which agent you get. Seems like they are just being persnickety about the fee or using it as a way to not reimburse.
This is really stingy of RH. Some brokers charge it as transfer see, some as a close-out fee. In both cases the fee is clearly caused by the transfer of the account to RH. I don’t see why they are trying to wiggle out of reimbursing. They don’t seem to be so cash-strapped considering the transfer bonuses they offer.
Think the likelihood of this deal coming back is good or not? I missed it and would hate to do the current 1% bonus then miss the 3% coming back
I did the Sofi deal at 1% and then 3 days later they made it 2% ..was a total pain to get in matched.
You can’t do both?
This deal is dead, but the 1% taxable ACATs with 2 year hold is back.
Robinhood has a new 1% bonus offer when you transfer your individual brokerage account to Robinhood.
When you transfer eligible assets from outside brokerage accounts into your Robinhood non-retirement individual investing account starting at 12 AM ET on April 30, 2024 until 11:59 PM ET on June 28, 2024, you’ll get a 1% bonus on top of the net transferred asset value. Only account transfers earn the bonus and not other transfers, like ACH transfers. You must initiate the account transfer during the offer period, although the account transfer may settle outside this period.
More info on their help center – https://robinhood.com/us/en/support/articles/account-transfer-bonus-faq-may-2024/
Deal is now expired
This deal has been extended with no expiration date that I could find
Do you have a link? You may be reading the 3% just on annual contributions not rollover.
Nm delete
Isnt the 3.5% webull deal better than this?
Not really, only if your combined marginal tax rate is like 16.5% or lower
Thanks for the clarification. I checked with WeBull and they said they cannot let the bonus go into the retirement account, bummer.
I have 3 IRA accounts to transfer from Fidelity, but after the first transfer request, it won’t let me do others as it thinks it’s a duplicate request. Any way around this?
Are they from the same brokerage? There’s a limitation of one transfer at a time, you’ll have to wait for the current one to complete.
Thanks, from the same brokerage unfortunately. Oh well, that’s ok.
That’s odd I was able to do my eTrade Roth and eTrade Trad at the same time.
Probably is for each brokerage+account type combo. I ran into the issue when transferring multiple Roths from the same brokerage and that’s what customer support explained
Ah I see, so if you have multiple of the same type. Still an interesting case since the account numbers would be different.
Will a SEP IRA count?