Merrill Edge, the brokerage division of Bank of America, is now offering up to $500 when you open an investment account or IRA account. (Note: the deadline to open an IRA account is April 15, 2012, which is also the deadline to fund your IRA for 2011). To claim your funds you simply open a new IRA or roll over funds from your old one.
You can open an Investment account here on the Merrill Edge Investment page.
You can open an IRA account here on the Merrill Edge IRA page.
Terms and Conditions
Of course there are terms and conditions involved just like the other broker promotions we told you about. The amount of money you get is tiered so the more you invest the more you get back, up to $500. The tiers are as follows:
$10,000 in qualifying assets – $50 back
$25,000 in qualifying assets – $100 back
$100,000 in qualifying assets – $250 back
$200,000 in qualifying assets – $500 back
You must fund the minimum amount within 30 days of opening your account, either via transfer or rollover, and the funds can not be rolled over from Merrill or Bank of America 401K accounts. Once you fund you must keep the account funded for a minimum of 90 days to receive your bonus and the money will be paid in the next calendar month.
So if you have been waiting to open an investment or IRA account now might be the time to take a look at Merrill Edge.