Offer Details
Written by: RJ
Requirements
- Open a new starter kit brokerage account
- Deposit $50 within 30 days of opening
- Bonus posts shortly after completion
Eligibility
- Nationwide
- Can’t currently have a Schwab account
Fees
- No fees.
Account Closure
- No rule listed
Chex
- N/A
Valid through: No end date listed
Thoughts
Schwab will invest the $101 bonus into the top 5 stocks of the S&P 500 in increments of $20.20. The terms do state that the buy orders can be canceled, in that event you’d keep the $101 in your account.
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Hey in the notes you say that you cant have a current Schwab account. I have both a brokerage and checking, does that disqualify me?
I would think so as this is basically a Schwab One brokerage account
Can I cash out the bonus of $101 instead of investing it?
CS will deposit the money into your account. Then place 5 orders on your behalf. If you cancel the orders in time, yes.
Great, thanks RJ! I will open this one up then and cancel the orders lol 😆
If you turn on the margin option, it prevents the automatic order placement. Of course, ymmv.
here are the terms. i was expecting to see something about not having an account in the past 6 or 12 months but looks like that is not listed – unless i’m missing something ?
https://www.schwab.com/investing-starter-kit?cmp=em-THJ
They’re light on the terms here. I didn’t see anything either.