The Offer
Targeted offer via email, subject line is ‘Earn up to $300’
- Robinhood is sending some existing users an offer to get up to $300 bonus by depositing funds:
- $50Â cash for transferring $3,000 – $9,999 worth of assets
- $100Â for $10,000 – $49,999
- $200Â for $50,000 – $99,999
- $300Â for $100,000+
The Fine Print
- To earn this reward you need to transfer eligible accounts, with a minimum of $3,000 in total asset value, into Robinhood between February 14, 2022 – March 6, 2022.
- Also by March 27, your net deposits, including your qualifying transfer amount, must be greater than or equal to the qualifying transfer amount (exclusive of losses due to trading or market volatility).
- Other limitations apply—review the offer’s terms and conditions for more information.
Our Verdict
Tiers are much higher than in the past, funds don’t need to be in the account for long.
Hat tip to Xatos
I received another email where RH will do a 5% match and a 10% match on 2 direct deposits. Is there any dp if bank transfer codes as DD and which banks. I don’t see a section here for Robinhood https://www.doctorofcredit.com/knowledge-base/list-methods-banks-count-direct-deposits/
I did this last year. I think it was a $250 reward for holding 10k for 60 days? I just got the 1099-MISC for it today.
Avoid Robinhood and all others that do payment for order flow (PFOF). With them, you are the product, not the customer.
Can you deposit cash from a bank to get the bonus instead of transferring from a brokerage?
Never forget they blocked day trader’s orders during the GME short squeeze.
The SEC and the judges won’t do their job but you can still punish them by closing your account.
Why don’t they do it for new users? Don’t want new customers? I’m here for the taking. I’m trying to be promiscuous.
We can all have our way with you?
They do tons of promotions for new users. A free share of stock is the common one. It’s picked at random and could be worth anywhere from $5 to hundreds of dollars.
Wonder if the churn rates are less for existing accountholders?
I got an email today with subject line “Securely transfer your other accounts to Robinhood”. But it had no mention of a bonus.
Poor promotion. They’re just trying to get their numbers pumped since they’re on the verge of bankruptcy. Putting your money into Robinhood is a recipe to get your funds lost.
What is the fee to transfer the asset out from Robinhood?
Its $75
Free ACH withdrawal up to $50k daily on Robinhood. Otherwise if you do an ACAT, there is an outgoing fee.
Previous bonus was for transferring funds. This one is for transferring accounts (ACATS) so a bit of a difference.