Deal has ended, view more Robinhood deals by clicking here.
The Offer
Targeted offer via email, offer terms can be found here
- Robinhood is sending some existing users an offer to get up to $250 bonus by depositing funds:
- $5 for $100-$499
- $15 for $500-$2,499
- $50 for $2,500-$4,999
- $100 for $5,000-$9,999
- $200 for $10,000+
The Fine Print
- Your cash reward will be based on your net deposits. Net deposits are the total amount of all initiated deposits from May 6-May 19, 2021 minus initiated canceled deposits or withdrawals from May 6-May 26, 2021. Simply: it’s the money you put in minus the money you take out through the above dates.
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Corresponding cash rewards will be automatically deposited by June 2, 2021.
- The funds you receive through the deposit match program will be reported as miscellaneous income in your 1099-MISC form. Because of IRS minimum earnings requirements, you may not receive a 1099-MISC form if your deposit-matched funds and any other funds (i.e. stock reward funds) are valued at less than $600.
Our Verdict
We saw a similar targeted offer from Robinhood in March. This is a nice bonus for a $10,000 deposit, and the funds just need to remain there for a few weeks. Check your email to see if you were targeted, I’m not sure if this is being sent out widely or with more selective criteria.
Hat tip to reader Davis
Robinhood:
5/19 4PM: Initiated $10,000.01 pull from bank
5/21: $10,000.01 withdrawn from bank
5/27: $200 in Robinhood, can’t be sold for 60 days
5/27: Initiated $10,000.01 push to bank
5/28: $10,000.01 deposited to bank
Interest rate of 103.4%, APY of 180.8%
Webull:
5/21 10am: Initiated $5000.01 pull from bank
5/24: $5000.01 withdrawn from bank
5/29: (3) bonus stocks (CX at $8.20 currently)
6/3: Money hopefully back in bank by then
Interest rate of 13.8%, APY of 14.8%
5/16/21 Transferred $10,050
5/28/21 $200 Deposit match cash reward
Thanks for the $200 Robinhood, I will promptly get my cash out of this account!
[Targeted] Webull offering existing users up to 3 Free Stocks for depositing funds. https://act.webull.com/actv2/routine/welcome-back/us/rule.html
Got the email yesterday and started my transfer from HM Bradley for the 10k bonus this morning. Going from a sweet FDIC insured 3% interest to a sweeter 12% interest for 60 days makes sense to me.
i didnt get this offer but i have deposited 19k to buy that pet coin, and i already up 113%. so i dont really need this bonus. 🙂
They will screw you one way or another.
I was not targeted for this promotion. I don’t even know what’s in my RH portfolio.
But like most of the commenters above and below, I am outraged because outrage has low barriers to entry.
I will never get tired of posting anti Robinhood messages on any board I see.
Pls just sign up take their bonus and transfer to a real brokerage like fidelity or schwab if you are here only for the profits. I can respect that.
But please don’t use Robinhood if you are serious about your money (that’s why we are here right?). Robinhood is beholden to shady Hedge funds and is currently under 27 different class actions lawsuits in various states over their actions to manipulate the securities market in Jan. Robinhood makes 45-47% of their net income from selling your trade information to hedge funds so that they can use their algos to skim off you (SEC is looking to ban payment for order flow).
In addition, during the DOGECOIN rise few weeks ago, ROBBINGHOOD once again restricted coin.
There is a reason why Robinhood is giving out all these credits and promos.
Why does the title of this article contain “up to $250” when the max bonus is $200.
Copy and paste of an old Robin hood promo and forgot to change
nah robinhood is clipped no one is using that its looking super slow for them since the whole gme situation. im still using them for dogecoin make my quick flip and cash out, besides that they’re an L company don’t put your money in there
“My only experience with investing is buying meme stocks on Robinhood I don’t even know what a capital gain is trust me guys loser company is no bueno”
Meme stock or not, there’s no excuse for a broker to stop performer it’s duty. A short squeeze isn’t anything new, but a broker restricting it’s users from buying while the underlying asset is available and traded elsewhere is pretty hard to explain. Hence the lawsuits. Not even including the whole slew of implications with Citadel being Robinhood’s parent company and their position in the whole thing.
TL;DR Loser company is just about right.