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frontpage Posted by devilZ • Apr 2, 2024
frontpage Posted by devilZ • Apr 2, 2024

Charles Schwab Starter Kit Offer: New Investors Open/Fund Account w/ $50+, Get

for 5x S&P 500 Stock Slices

$101 Cash Bonus

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Deal Details
Charles Schwab offers New Schwab Investors: Charles Schwab Investing 101 Starter Kit when you open a Schwab account and fund the account with a minimum of $50 (within 30 days), get $101 cash bonus to purchase stock slices (fractional shares of the top five stock by market cap in the S&P 500).
  • Note: Offer is valid for new Schwab Members only who enroll/fund their accounts w/ a minimum of $50 to receive $101 in cash bonus to purchase stock slices. Fractional share (stock slice) is when you own less than one whole share of a company.
 Thanks to community member devilZ for finding this deal.

Deal Instructions
  1. Open an account with Charles Schwab.
  2. Fund your account with a minimum of $50 within 30 days of opening the account to qualify.
  3. Once funded/verified, Charles Schwab will deposit $101 in cash bonus to your account to purchase your stock slices.
Schwab Starter Kit
  • $101 of Schwab Stock Slices: Get $101 and an easy way to buy fractional shares of the top five stock by market cap in the S&P 500
    • Note: Top five stocks will change from time to time. Fractional share (stock slice) is when you own less than one whole share of a company.
  • Investing Education: Unlock short videos and step-by-step guides to get the 101 on investing.
  • Tools and Resources: Easy-to-use tools and budget planners, plus investment professionals on standby 24/7 if you ever have a question.

Editor's Notes

Written by megakimcheelove | Staff
  • See full Terms & Conditions here 
  • Please see the original post for additional details & give the WIKI and additional forum comments a read for helpful discussion. 

Original Post

Written by devilZ
Community Notes
About the Poster
Deal Details
Community Notes
About the Poster
Charles Schwab offers New Schwab Investors: Charles Schwab Investing 101 Starter Kit when you open a Schwab account and fund the account with a minimum of $50 (within 30 days), get $101 cash bonus to purchase stock slices (fractional shares of the top five stock by market cap in the S&P 500).
  • Note: Offer is valid for new Schwab Members only who enroll/fund their accounts w/ a minimum of $50 to receive $101 in cash bonus to purchase stock slices. Fractional share (stock slice) is when you own less than one whole share of a company.
 Thanks to community member devilZ for finding this deal.

Deal Instructions
  1. Open an account with Charles Schwab.
  2. Fund your account with a minimum of $50 within 30 days of opening the account to qualify.
  3. Once funded/verified, Charles Schwab will deposit $101 in cash bonus to your account to purchase your stock slices.
Schwab Starter Kit
  • $101 of Schwab Stock Slices: Get $101 and an easy way to buy fractional shares of the top five stock by market cap in the S&P 500
    • Note: Top five stocks will change from time to time. Fractional share (stock slice) is when you own less than one whole share of a company.
  • Investing Education: Unlock short videos and step-by-step guides to get the 101 on investing.
  • Tools and Resources: Easy-to-use tools and budget planners, plus investment professionals on standby 24/7 if you ever have a question.

Editor's Notes

Written by megakimcheelove | Staff
  • See full Terms & Conditions here 
  • Please see the original post for additional details & give the WIKI and additional forum comments a read for helpful discussion. 

Original Post

Written by devilZ

Community Voting

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Top Comments

jennfior
180 Posts
22 Reputation
"Charles schwab is like silicon valley bank with outdated investment strategy which can collapse anytime"

Based on...? Source please.
eric_cartman
1262 Posts
211 Reputation
What a bunch of nonsense.
Wulfrax
1224 Posts
330 Reputation
From the terms, just for everyones awareness:
The cash bonus will be reported on your Form 1099-INT. Any related taxes are your responsibility.

103 Comments

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Apr 6, 2024
420 Posts
Joined Jun 2019
Apr 6, 2024
CleverChicken951
Apr 6, 2024
420 Posts
Quote from CleverChicken951 :
Current TDAmeritrade customers are being migrated to Schwab in groups
Is it good idea to do this before account migrates ?
Bonus not credited for 4 business days, they tell me promo code not input at account opening, weird. It cannot happen when link is followed and certain to have seen it apply.
Anyone else in same boat?
Apr 6, 2024
232 Posts
Joined Nov 2014
Apr 6, 2024
kentucky7887
Apr 6, 2024
232 Posts
How many days does it take to receive?
Apr 6, 2024
9,649 Posts
Joined Apr 2006
Apr 6, 2024
Tnyc
Apr 6, 2024
9,649 Posts
The real deal behind this offer is to encourage people to invest or at least learn how to invest responsibly. Hopefully they will steer clear of the stinky pile of "crypto shIt" as the late Charlie Mungle called it.
1
Apr 6, 2024
1,020 Posts
Joined Jun 2009
Apr 6, 2024
javaking_1000
Apr 6, 2024
1,020 Posts
Quote from Bunduckie :
Your Uninvested cash does not automatically earn the usual 5% like other brokers such as Robinhood with gold, Fidelity and Vanguard. For that reason, I don't recommend Schwab.
Does your un-invested cash earn anything? Like 0.5% or something? I couldn't find that info anywhere on their site.
Apr 6, 2024
420 Posts
Joined Jun 2019
Apr 6, 2024
CleverChicken951
Apr 6, 2024
420 Posts
Quote from javaking_1000 :
Does your un-invested cash earn anything? Like 0.5% or something? I couldn't find that info anywhere on their site.
0.1 or 0.2% instead
Last edited by CleverChicken951 April 6, 2024 at 11:24 AM.
Apr 7, 2024
79 Posts
Joined Nov 2009
Apr 7, 2024
bfallona
Apr 7, 2024
79 Posts
Quote from CleverChicken951 :
Curious what are some drawbacks with Fidelity ? Thought it was decent enough.
Top brokerage firms like Vanguard, TDA, Fidelity do not charge transfer fee.
I am currently a TDA customer, but being migrated to Schwab very soon (as with many other customers).
Was much happy with TDA so far, but don't like Schwab's website or app yet, waiting to see them makeover.
I would check with places like Nerdwallet etc. I have moved back & forth from Vanguard to Fidelity because all my money is in my old employer 401k account. I almost never trade. Never lost a dime at Vanguard. But a year ago I called up Fidelity & found out they have given away about 25% of my 401k . I was stunned and of course asked a bunch of questions. They told me I had opened up 12 new bank accounts. I had never opened up a bank account with Fidelity & had switched to them over a year before. No phone calls no email no nothing. And yet they blamed me and after a month got the money back but was banned for life from Fidelity. I now have to use the phone every time to do anything as they have a voice verification. They acted as if I did something wrong ie no one had been in my house in 5 yrs., never ever have clicked on an email link.
Last edited by bfallona April 7, 2024 at 11:28 AM.
3
Apr 7, 2024
420 Posts
Joined Jun 2019
Apr 7, 2024
CleverChicken951
Apr 7, 2024
420 Posts
Quote from bfallona :
I would check with places like Nerdwallet etc. I have moved back & forth from Vanguard to Fidelity because all my money is in my old employer 401k account. I almost never trade. Never lost a dime at Vanguard. But a year ago I called up Fidelity & found out they have given away about 25% of my 401k . I was stunned and of course asked a bunch of questions. They told me I had opened up 12 new bank accounts. I had never opened up a bank account with Fidelity & had switched to them over a year before. No phone calls no email no nothing. And yet they blamed me and after a month got the money back but was banned for life from Fidelity. I now have to use the phone every time to do anything as they have a voice verification. They acted as if I did something wrong ie no one had been in my house in 5 yrs., never ever have clicked on an email link.
Sorry for what happened. While this appears to mimic with what happened for Wellsfargo customers, but I have high regard for Fidelity as such.
Wonder your credit info has leaked and someone else used it, might want to fix that first?
Guess many banks send out confirmation mails for new account signup by USPS, can't believe you received nothing.
1

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Apr 8, 2024
232 Posts
Joined Nov 2014
Apr 8, 2024
kentucky7887
Apr 8, 2024
232 Posts
So definitely doesn't work if you have been forced to transfer from td ameritrade
Apr 8, 2024
709 Posts
Joined Dec 2007
Apr 8, 2024
ChaChing23
Apr 8, 2024
709 Posts
Quote from kentucky7887 :
So definitely doesn't work if you have been forced to transfer from td ameritrade
Are you asking? Or confirming the fact from your experience? Thanks!
Pro
Apr 8, 2024
2,686 Posts
Joined Sep 2011
Apr 8, 2024
E4300
Pro
Apr 8, 2024
2,686 Posts
Quote from javaking_1000 :
Does your un-invested cash earn anything? Like 0.5% or something? I couldn't find that info anywhere on their site.
You must manually buy SWVXX after the cash has settled (trade date plus two days) if you want to earn 5.2%. On the plus side, you can free up cash (in real time) by selling SWVXX.

Fidelity will auto sweep cash into one of several money market accounts with yield ~4.95%. You can manually sweep cash into FDLXX or buy 1 month T Bills if you want to avoid state income tax.
Apr 8, 2024
1,063 Posts
Joined Oct 2009
Apr 8, 2024
enforcer2133
Apr 8, 2024
1,063 Posts
Quote from FanFanFan1 :
I just chatted with a Charles Schwabb rep. He told me that the Schwab Starter kit does not come with the high investor checking account. The high investor checking account is paired with another brokerage account, and not the starter kit
I dunno what a "High Investor acct" is. I got the starter kit and brokerage acct and the debit card comes with it.
Apr 8, 2024
12,346 Posts
Joined Jan 2009
Apr 8, 2024
teaberry
Apr 8, 2024
12,346 Posts
I got the email saying $101 is in my acct and ready to buy "slices" and if I wanted to cancel I can do it yesterday, but I don't see their amount. I see only my deposited $51.
Apr 8, 2024
426 Posts
Joined Aug 2015
Apr 8, 2024
NiceSlickBlack
Apr 8, 2024
426 Posts
Quote from teaberry :
I got the email saying $101 is in my acct and ready to buy "slices" and if I wanted to cancel I can do it yesterday, but I don't see their amount. I see only my deposited $51.
I got the email Saturday and nothing happened today
Apr 8, 2024
946 Posts
Joined May 2004
Apr 8, 2024
Bunduckie
Apr 8, 2024
946 Posts
Quote from javaking_1000 :
Does your un-invested cash earn anything? Like 0.5% or something? I couldn't find that info anywhere on their site.
Yes, it's less than 1%, a ridiculous rate. Go with Fidelity or Vanguard where uninvested cash earns 5%+.
1

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Apr 8, 2024
926 Posts
Joined Mar 2023
Apr 8, 2024
BigBG
Apr 8, 2024
926 Posts

Our community has rated this post as helpful. If you agree, why not thank BigBG

PSA: The only way I found to make Scwab limit selling your info to 3rd party marketing firms is to call 1-877-812-1817 from the phone number you registered with Schwab. It's an automated system. The process is pretty fast as long as you are calling from a phone number that Schwab recognizes as associated with your account.

I did not find any way to limit information sharing(selling) from their website, and I spent 20 minutes looking.
2

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