Bonus has been decreased to a maximum of $600.
The Offer
- Get a bonus of up to $1,000 open a new TD Ameritrade account. Bonuses are tiered as follows:
- $1,000 bonus when you open a new account with $250,000+
- $500 bonus when you open a new account with $100,000-$249,999
- $200 bonus when you open a new account with $50,000-$99,999
- 90 days of commission free trading when you deposit $3,000
The Fine Print
- Offer valid for one new Individual, Joint or IRA TD Ameritrade account opened by 6/30/2019 and funded within 60 calendar days of account opening with $3,000 or more.
- To receive $100 bonus, account must be funded with $25,000 – $49,999 within 60 days of account opening.
- To receive $200 bonus, account must be funded with $50,000-$99,999 within 60 days of account opening.
- To receive $500 bonus, account must be opened with $100,000-$249,999 within 60 days of account opening.
- To receive $1000 bonus, account must be funded with $250,000 or more within 60 days of account opening.
- Offer is not valid on tax-exempt trusts, 401k accounts, Keogh plans, Profit Sharing Plan, or Money Purchase Plan.
- Offer is not transferable and not valid with internal transfers, accounts using the Amerivest service, TD Ameritrade Institutional accounts, current TD Ameritrade accounts or with other offers.
- Qualified commission-free Internet equity, ETF or options orders will be limited to a maximum of 300 and must execute within 90 calendar days of account funding.
- Contract, exercise, and assignment fees still apply. Limit one offer per client. Account value of the qualifying account must remain equal to, or greater than, the value after the net deposit was made (minus any losses due to trading or market volatility or margin debit balances) for 12 months, or TD Ameritrade may charge the account for the cost of the offer at its sole discretion. (Offer Code 277)
Our Verdict
This is similar to the offer we’ve posted about yesterday, except you don’t need to be a TD Bank customer. In addition the top and bottom tiers ($1,500 bonus and $50 bonus) aren’t available and the $150 transfer fee rebate isn’t offer. Still I know some people were interested in that deal but didn’t have a TD bank account, so they will be eligible for this bonus.
I believe the offer has changed. Its now only up to $600.
https://www.tdameritrade.com/specialoffer.page
This is also gone now. There is a new offer that is considerably less attractive https://www.tdameritrade.com/offer/2500/index.html
Anyone knows what interest rate Ameritrade will pay for the cash staying in the account? Thanks!
0.0%
For the record I did this and the bonus posts almost immediately (same day for me as the transfers completing). This link doesn’t mention it, but when I signed up, it said the bonus would be clawed back if you close the account before 12 months are up.
The terms say the account needs to maintain at least the same value as it had when you signed up… so the email saying it would be clawed back just if you close it doesn’t seem as restrictive. I’d go by what the terms say though, not an email. Otherwise you could transfer a bunch of stocks in and then transfer all of them out except a small amount and keep the bonus, so I can see why they have that restriction in there.
Back not so long ago when TD was Scott Trade, I negotiated the bonus up significantly when rolling over a 401.K
> Please allow 3-5 business days for any cash deposits to post to account. (Offer Code: 277)
Does this mean it posts as soon as you transfer in the required assets?
In other words, less than a 0.5 percent return on a minimum 12-month investment. Better off just rebalancing your portfolio with your current brokerage/fund family.
Generally not a good idea to look at the percent return on these brokerage bonuses and there is nothing stopping you from making the switch and also rebalancing.
True that it’s still $1000 in your pocket whether you rebalance or not, but I take the point to mean when it is a small percentage of your portfolio you tend to not deal with the hassle.
William, I think in the earlier post you said you tend not to do this because of the hassle involved. I understand that. I’m like that too.
We tend to give up opportunities for free money when it is a small percentage of our assets. Most people don’t even take the time to learn about money management when the returns on that alone is much more than 0.5% per year.
I don’t think these kind of deal as percent of your investment. It’s free money because u don’t need to change your interestment vehicle. It is not like bank account bonus you have to have the cash to fund your account.
My plan is to deposit $3k, buy a “can’t miss” penny stock, then watch it grow to $300k so I can get the bonus $1000. Anyone see any flaws in my plan?
Yeah, if you bought a 2 penny stock it would take half the time.
By the time a stock is truly “can’t miss”, it is no longer a penny stock. 😉
And it’s “account must be funded” with the stated amounts, not “account must grow to”.
I don’t see anything here about existing TD Ameritrade customers (I have an old IRA) being not eligible. Can anyone confirm?
Yeah, it’s not exclusive to new customers. TDA is very liberal with their bonuses.
But they likely won’t extend the offer onto an existing account. Easiest thing is likely to just transfer your account out for a few weeks, then reopen as a new account with the offer code attached. I’ve done this for a few brokerages successfully.
For example, Schwab has great service and reimburses for transfer fees, so I’ve done temporary transfers into Schwab for a few weeks, then opening up a new account with another firm
Edit: Apparently it’s unadvertised. I went into Live Chat and was told this:
3:57:54 AM : Rona B.: I’m happy to help today. I don’t think it’s listed anywhere on our site. It a courtesy that we offer. I can place a note in your account stating we will waive the fee but you would need to contact us once you are assessed the fee.
There’s also a fairly similar offer from E Trade: https://us.etrade.com/what-we-offer/how-it-works/brokerage
Here’s another similar offer that does offer $1200 for depositing half a million dollars and $2500 for a million: https://www.tdameritrade.com/offer/2500/index.html.