Which bank was that? I only remember WaMu selling GCs (without fees IIRC), but it didn’t help them 
.
Charter One back in 2004, bought by Citizens
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Oh yeah, I remember now. Dam we’re all getting old. 
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I was thinking they’d try to entice people to trade more, maybe to collect margin interest or option premiums. A bit like credit card companies having signup bonus offers where they take a loss from some customers but gains from the ones who end up carrying a balance.
But I did not consider artificially bumping your total assets as strategy. Could be very ironic since I’d be transferring our Roth IRAs from a brokerage which might end up buying RH.
Now I wonder what happens to the terms of the bonus in case they are bought by Fidelity or Schwab. Probably nothing if they remain a separate brand but if they forced customers to merge/migrate accounts, the 5 year period provision may be void.
They publish how they make money.
Not all investors are passive also.
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I wonder what happens if they have your IRA and you die. Is the bonus lost?
If you pass away, that becomes an inherited IRA with new owner(s) but the new owner(s) could keep the account at the same custodian at least for the remainder of the 5 -yr period. So that may not count as a transfer of assets out of RH which would trigger the claw back. Either way, RH grabbing back a 3% bonus right after someone died would be a pretty nasty PR move.
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Any ideas of good, safe place to park funds there?
Hi, a few years ago I had Self Directed account with Chase.
I just signed up with Chase about a month ago for round 2 with a Self Directed account for my coming $700.
Chase is good for a brokerage account, just not as nice as place like ETrade or the old TDA was; but Chase is fine for parking some stocks and occasionally trading stocks.
By the way, right now I have brokerage accounts with: Chase Self Directed, Merrill, Schwab, TradeStation and in the past year closed ETrade and Tasty Trade. haha
I’m going to Vanguard’s
Vanguard’s Self-managed accounts. I’m sort of changing my money management strategy for now. As some of my long term CD’s are maturing I’m moving the funds to brokerage accounts. Don’t know how long, but for now it’s working out pretty 
good.
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Why Vanguard? Good funds, but meh brokerage…
Moomoo (real name) has what appears to be several attractive offers. One appears to be $5,000 for a $1 million deposit transfers of stocks from certain brokers. There appears to be no long term required holding period. Another involves a temporary 8.1% rate on up to $20,000 in cash for 3 months and up to 15 free stocks (worth about $2.00 each). I learned of this through a referral from a relative who can earn up to $250 from I bringing in $5,000 (or $100 if I bring in $100). Apparently I and other account holders can take advantage of these referral offers. A quick search will show their offers. With some hassle I was able to open an account.
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More information. They do not offer IRA’s. With the help of a phone representative (no hold) I learned they could not handle my living trust (which may mean I will transfer out soon since my estate plan is built on a living trust), and I had to download their app to use them, or to send money. Certain of the rewards will require using their phone app. The holding period for the transferred in stocks is short about 40 days which makes their offers very attractive since those willing to do the work, may pick up almost $5,000 (they do not reimburse charges from sending brokers). I may even more securities out of Merrill for a short time, losing my Diamond status possibly. Since their 8.1% offer on idle cash for three months starts when they get your money, he suggested not clicking on that until they had the cash
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Thanks – I learned about Moomoo a few months ago because of these aggressive referral bonuses they were offering. I never signed up, but the transfer promotion started up recently and I’ve been considering it.
It looks like the January offer was only 30 days hold, while the present March offer is 90 days. Which is still attractive.
Two challenges – Moomoo doesn’t seem to allow ACATS transfers, they use a DTC transfer instead; then they don’t seem to manage cost basis well, or at least cannot transmit that to the receiving firm…
I’m still considering things, with the deadline being end of the month…
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I went ahead and have transferred significant money. I find the claiming process hard. I sent out referral offers to several since this does appear a good deal for either a way to earn 8.1% on cash, or for the transfer bonuses, or the free stocks.
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Moomoo seems to have problems, possibly due to being new. I never was able to transfer securities in from Merrill, due I think to problems. Messages from them just said it had not worked, with no details. Transfers from Schwab and E*Trade did work in time to qualify for $2500 bonus.
I tried to take advantage of their offer of $30 for a $10,000 wire transfer and used their instructions. Money left my bank but was not credited there. I had a long conversation with a customer service agent (in China, but excellent English). He confirmed they had received money, but lacked the account id to credit it. With much sending of documents it seems it will be credited, but obviously customers who follow their directions should not have the money missing (I was told it would eventually be sent back to my bank if they could not figure out what account to credit it to), or need long complex phone conversations to get it correctly credited.
I have a little concern that their insurance covers only the first $250,000. I can imagine that problems in US China relations could create issues such that their US brokerage could not function.
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Public has an attractive transfer offer with a 12 month holding period. It appears especially nice for small transfers, since it can add 3% on a $5,000 transfer.
They also have a referral program that can yield $20 for you and the one you refer.
A reference from my son got me in. Their margin account has 0% interest on the first $1,000 borrowed, which is attractive. I am putting in $2,000 (minimum for a margin account) and plan to buy $3,000 in stock.
"If you have a brokerage account with Open to the Public Investing, Inc. (“Public Investing”), you may earn rewards by referring personal friends and family members to Public. For each friend who makes a deposit of at least $1,000, you both get $20¹ in an asset of your choice subject to the “Terms and Conditions” below.
To qualify, the initial one-time deposit must be an amount of $1,000 or more; this is in effect for accounts opened 8/1/2023 or later. "
and
"Transfer your assets or cash from another brokerage, and we’ll give you up to $10,000 once it settles.
Transfer Amount
Bonus
$5,000 - $24,999
$150
$25,000 - $99,999
$250
$100,000 - $249,999
$600
$250,000 - $499,999
$1,000
$500,000 - $999,999
$2,000
$1,000,000 - $4,999,999
$4,000
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I went ahead and opened/transferred in to Moomoo in late March. I had contacted both Fidelity and Schwab to confirm they accept DTC transfers, so as to have an exit plan.
My ACATS transfer from Fidelity went through without a hitch, taking only ~2 days.
Fidelity and Schwab both mentioned DTC transfers are very common in the industry, particularly for foreign investors or gift/inheritance transfers. I was told that ACATS transfers are by and large a pull, while DTC is a push.