Offer Details
Requirements
Written by: RJ
- Open a new Merrill Edge account
- Promo code “1000PR”
- Fund the following amounts within 45 days of account opening
- $20k = $100
- $50k = $200
- $100k = $400
- $250k = $1k
- Maintain balance for 90 days
Eligibility
- Nationwide
- Must be in Preferred Rewards (see notes section)
- Accounts
- Cash management/brokerage
- SEP IRA
- Roth IRA
- Traditional IRA
Fees
- No account fees – checking fees if trading
Account Closure
- Keep account open 90 days
Valid through: No end date listed
Notes
The bonus payouts are for Preferred Rewards members. If not in Preferred Rewards, the payouts are significantly reduced.
Per the terms – by doing this promotional offer you can be enrolled early in preferred rewards. Normally you must meet the balance requirements for 90 days. This promo will allow you to hit Preferred Rewards Status within 45 days, making you eligible for the higher payouts.
Note you must have a Bank of America Advantage checking to be eligible for preferred rewards. BofA runs a continuous Advantage Checking bonus you could stack with this.
Thoughts
I will be taking advantage of this offer by rolling over an old 401k to an IRA. You can also stack this with an Advantage Checking bonus since you’ll need the checking account. After the 90 days I’ll keep the account and go after the BofA cash back cards. Adding in the Preferred Rewards multipliers makes this a big stacking play.
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Nice one!!