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Old 12-01-2022, 02:38 PM   #21
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Originally Posted by sengsational View Post
We've got his and hers at Fidelity for Roths, HSA, Brokerage, that's 6. She's already got the Fidelity Money Management account, and we have the 529 and a rollover IRA, so 8 at Fidelity. Beyond Fidelity, there's the bank(2) & credit union(3), 401k, and vanguard brokerage, 7 more. That's 15, and I'm probably forgetting some. Do I really want another account that doesn't give me anything I don't already have (except for the one-time $150)? I'm toying with the new credit union brick and mortar that opened in the abandoned BofA building for medallion service and safe deposit box. I really need to consolidate rather than add.
You can close it in 90 days
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Old 12-01-2022, 02:39 PM   #22
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It says I'm not eligible for this promotion. I think I did something like this last year. That's the only thing I can see that would block me.
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Old 12-01-2022, 02:39 PM   #23
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Sweet, thanks, I just did this for myself and my wife.

$300 return on $100 in 25 days (max it takes for money to be deposited they say) is a annualized return of 4,782,979%
You have to figure the return over the 90 day minimum required account life, still a healthy return
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Old 12-01-2022, 03:08 PM   #24
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Thanks for posting about this. I just opened one for DH. Very easy since he already has a Fidelity account for his HSA.

I did this promo for myself last year but it was for $100, not $150. Then when I tried to do it for DH I missed it and it was no longer offered.

For some bank promotions you can withdraw the bonus and just keep the account open. This one you have to leave the bonus in the account for 90 days -

"Account holders must maintain the bonus award (minus any losses related to trading or market volatility, or margin debit balances) in the account for at least 90 days from the date on which the bonus award is credited to the account. Fidelity may charge accounts that fail to comply with this requirement the cost of the bonus award."
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Old 12-01-2022, 03:21 PM   #25
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Thanks for the heads up for this. I opened one for myself, and just did one for my uncle, as well. I had no trouble doing my own account, earlier in the day, but for some reason, when I tried to open one for my uncle, it kept crashing. Maybe it's getting popular, and new applications are overloading their server?

I have a couple of friends who could really use an extra $150. I'm going to try a little experiment, and tell them about it, to see if they jump on it or not. I have a gut feeling that they won't...probably "too much trouble"
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Old 12-01-2022, 03:24 PM   #26
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Originally Posted by Fermion View Post
Well, it takes about 5 min, but try this instead. Pull out 15 $20 bills from your wallet and throw them in the fireplace. If you don't feel regret, then you didn't need to bother with this offer.
I think your model lacks all of the details I'm considering.

What if there were 15 banks that each offered $10 to open an account that required a deposit of $3.33? This is equivalent to the Fidelity offer from a dollars and cents standpoint, but I doubt we'd all rush out to open those 15 accounts. I conclude that your model is lacking in something, based on this observation. I think the "something" is the overhead associated with having another account to keep track of.

I suppose I could open it, collect the $150, and later close the account if my prediction that I wouldn't use the account came true.
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Old 12-01-2022, 03:30 PM   #27
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I suppose I could open it, collect the $150, and later close the account if my prediction that I wouldn't use the account came true.
That's exactly what I plan to do. 2 minutes to open, 2 to close, well worth the effort for $150 (and same for DH).
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Old 12-01-2022, 03:53 PM   #28
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I already have a Fidelity account. Opened the new account, no problem. Then I wanted to link my bank to deposit the $50. Problem. Never before have I had to enter anything except the routing and account numbers. However, now "Your bank wants you to enter the challenge questions you agreed on previously."
I don't have any record of having agreed on any challenge questions with a financial institution to which I've belonged since 1981....
I figure I have a few days to straighten this out. But it's starting to be too much work for the pay....
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Old 12-01-2022, 04:20 PM   #29
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Fidelity didn't have the Plaid thing with your bank? With mine it was instant.

But for this deal, since we already had a joint account at Fidel, I just xfer'd $50 to each of our individual accounts...literally took 5 min total to make $300.
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Old 12-01-2022, 05:00 PM   #30
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I was able to set up Plaid with a different bank account, that I don't use very much.

Quote:
Originally Posted by Fermion View Post
Fidelity didn't have the Plaid thing with your bank? With mine it was instant.

But for this deal, since we already had a joint account at Fidel, I just xfer'd $50 to each of our individual accounts...literally took 5 min total to make $300.
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Old 12-01-2022, 05:03 PM   #31
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Yep, just passed on the info to someone and got that exact response. This person is a hard worker, too. Just very suspicious of electronic transfers, and of banks in general.

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I have a couple of friends who could really use an extra $150. I'm going to try a little experiment, and tell them about it, to see if they jump on it or not. I have a gut feeling that they won't...probably "too much trouble"
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Old 12-01-2022, 09:29 PM   #32
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Thanks Tennant. I just opened accounts for myself and DH.
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Old 12-02-2022, 08:21 AM   #33
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I already have a Fidelity account. Opened the new account, no problem. Then I wanted to link my bank to deposit the $50. Problem. Never before have I had to enter anything except the routing and account numbers. However, now "Your bank wants you to enter the challenge questions you agreed on previously."
I don't have any record of having agreed on any challenge questions with a financial institution to which I've belonged since 1981....
I figure I have a few days to straighten this out. But it's starting to be too much work for the pay....
Interesting. I also have a Fidelity account, but when I initiated the transfer from a bank linked to my current accounts, I receiver a popup window along the lines of "this bank is already linked to these other accounts, do you want to link it to this one?" clicked yes, received "success" message, and transfer request was completed.
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Old 12-02-2022, 08:31 AM   #34
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This was an unusually good deal...keep em coming. Thanks.
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Old 12-02-2022, 10:30 AM   #35
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I appreciate OP finding this great offer.

I have tried repeatedly but fail to sign up as I get a webpage saying: "We couldn't verify your identity"

I unfroze my credit scores and a 1/2 hour later still get the same message !!!
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Old 12-02-2022, 11:10 AM   #36
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I wasn’t going to do it until I saw those 15 $20’s starting to burn. I already had a Fidelity HSA so went ahead and opened the Cash account and transferred the $50 from already linked bank. Done in under 5 minutes.
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Old 12-02-2022, 02:07 PM   #37
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You can close it in 90 days
Ok, I've done it. Peer pressure. Sigh.
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Old 12-02-2022, 02:34 PM   #38
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If you just did it for yourself, now go back and do it again for spouse, each kid/grandkid, etc.
Anyone happen to know if I can do it for my niece/nephew? Would make a nice little extra gift to them.
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Old 12-02-2022, 02:59 PM   #39
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Anyone happen to know if I can do it for my niece/nephew? Would make a nice little extra gift to them.
As long as you have their full name, address, SSN, and date of birth, I'd think you should be able to do it. Although, I guess you'd need to either have access to their email, or at least set up a new email account to use for them. You'll also have to provide a cell phone, so they can send a 6-digit verification code, but you might be able to use your own number.

And, I'm presuming it would let you fund the initial $50, through your own bank account, even though it's for someone else?
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Old 12-02-2022, 03:04 PM   #40
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Okay, did it too. I already had a roth with them, but opened another after confirming it's been more than a year since I grabbed similar offer. Roth because that is the best kind of money. I then set up a partial transfer in kind from my tda roth to add funds to the new account. I guess the transfer has to happen within a couple of weeks but that shouldn't be a problem.
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