For me it was the standard Schwab terms of a 45 day deposit period and funds to be deposited "within approximately one week". (See below for full text.) I believe my day 45 was a Thursday and I was paid the following Monday.For those that had Schwab match a transfer bonus offered by another firm, how long did it take to receive the bonus after the Schwab account was funded to meet the bonus terms?
The boilerplate fine print says "you must maintain the required deposit amount (less any market losses) at Schwab for at least 12 months", but it is not clear when that period starts (date of letter or date of bonus) or which funds it constrains--what is "the required deposit amount "? Just the $250k? The overall balance of the relevant account? My entire relationship with Schwab? By comparison the initial qualification criteria are much more explicit:
I am pleased to confirm that Schwab will deposit $2500 into your Schwab account ending in xxx in appreciation of your $250000 qualifying net deposit of cash and/or securities, if received within 45 days. Qualifying net deposits are assets deposited into the above referenced account minus assets withdrawn from the account and transferred out of Schwab. Your net deposit will be calculated on the 45th day after the date of this letter and any award paid within approximately one week.
Statistics: Posted by glitchy — Sat Aug 17, 2024 8:22 pm — Replies 8805 — Views 1633493