Schwab offers for $100k of deposit/transfer

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Submitted by Coronita on October 21, 2019 - 5:15am

$500 for new customers $300 for old for $100k transfer.
Not a great offer but I have a feeling well see moren offers being tossed up by SCHWAB , ETRADE, Ameritrade, etc as they slug it out
lol...Anyone see something better, besides Chase?

I think I'll move money in from Chase that I am not using to get the $500 and after the promotional offer, move it back to Chase and get another $250 from Chase moving it back in..... he he he.

Submitted by scaredyclassic on October 21, 2019 - 7:21am.

That's basically .5% interest extra to go to schwab because it must remain there 1 year. Not that great.

Submitted by burghMan on October 22, 2019 - 7:41am.

scaredyclassic wrote:
That's basically .5% interest extra to go to schwab because it must remain there 1 year. Not that great.

Right. There are a zillion ways schwab can get their $500 back from customers over the course of a year.

Submitted by gzz on October 22, 2019 - 4:38pm.

These deals have been around for a long time. Years ago I did this for fidelity for 60,000 delta miles, which i used for a $1200 biz class flight to the midwest. My old broker (etrade) hit me with a poorly disclosed $75 “transfer fee”.

If schwab forced u to keep the cash in escrow it would be a bad deal. But if you have spare cash to invest it is a great deal.

My go-to conservative bond investment remains gbab and bbn, the two big taxable muni funds with monthly dividends.

More recently I opened a chase sapphire checking account deal that requires a minimum of 75,000 in there for 6 months to get $750. That’s only 2% apr, but is 0 risk and 0 fees to set up.

I’ve probably made a net $20,000 in sign up bonuses for banks and brokerages over the last 18 years. In general Chase, amex, citi, and barclay are the offers worth doing, in that order.

For san diego residents, i think the overall best deals are the chase southwest card and similar chase sapphire card that converts points 1:1 to southwest.

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