New and Existing Customers Can Earn Up to $6,000 Bonus with Schwab Brokerage Account

New customers can sign up now in the promotion page. Existing customers can call 800-503-3307 to enroll in the Schwab Investor Reward or talk to your Schwab Financial Consultant.

Important Terms

• Offer valid for Schwab clients who make a qualifying net deposit into an eligible retail brokerage account within 45 days of enrollment. Net deposits are assets deposited into the enrolled account minus assets withdrawn from the account and transferred out of Schwab. Only outside assets new to Schwab qualify; assets transferred from affiliates other than Schwab Retirement Plan Services are excluded. Net deposits will be calculated as of the 45th day after enrollment, and the cash bonus will be credited to the enrolled account within 10 days. 
• For taxable accounts, excluding accounts pledged to Charles Schwab Bank, you must maintain the net deposit amount (less any market losses) at Schwab for at least one year or Schwab may charge back the cash bonus.
• Accounts that are eligible for the Schwab Investor Reward include: Schwab retail brokerage accounts and individual retirement accounts (IRAs), including accounts enrolled in Schwab-sponsored investment advisory programs such as Schwab Intelligent Portfolios®, Schwab Managed Portfolios, Schwab Managed Account Select®, Schwab Managed Account Connection®, and Schwab Wealth Advisory.
• Schwab Bank Investor Checking accounts do not qualify for this promotion whether they are linked to a brokerage or are stand-alone. If you make a deposit in a Schwab Bank Investor Checking account, you will not receive the award. The offer also does not apply to the Schwab Global Account, ERISA-covered retirement plans, certain tax-qualified retirement plans and accounts, education savings accounts, Schwab Bank accounts, or accounts managed by independent investment advisors.
• For taxable accounts, the cash bonus will be reported on your Form 1099-INT.
• IRS guidance may impact your ability to make more than one IRA-to-IRA rollover in a one-year period.

Guru’s Wrap-up

This can be a good bonus for those who want to transfer the investments to Schwab. Doctor of Credit reports that Schwab reimburses the fees charged by other brokerages to transfer investments over, but you likely have to call in.