If you’ve considered dabbling in investments but haven’t taken the leap, E*Trade is rolling out a new cash back promo that may entice you to open an account. For the next couple of months, E*Trade is offering an extra $100 for customers who deposit or transfer a minimum of $5,000 into their E*Trade accounts.
While E*Trade regularly rolls out cash-back promotional offers, it often requires a much heftier deposit than $5,000 to qualify. But if you’re interested in taking advantage of this free promo money, you need to get moving, because E*Trade is only offering this deal until Jan. 6, 2020.
This is just one of many offers E*Trade has rolled out recently. Earlier this month, the electronic trading platform stepped up its game and cut commissions to $0 while removing the account minimum for brokerage accounts.
And, if you’re ready and willing to invest a little more than $5,000, E*Trade is offering another cash-back promo that you may want to take advantage of. This offer is only valid through the end of 2019, but it could help you rake in up to $2,500.
Here’s the deal: If you open a non-retirement brokerage account by Dec. 31, 2019 and fund it with new funds or securities from an outside account within 60 days, you’re eligible for a cash bonus of between $200 and $2,500. There are several tiers of qualifying deposits and cash bonuses, which range from:
- a $200 cash bonus for depositing or transferring between $25,000 and $99,999
- a $300 cash bonus for depositing or transferring between $100,000 and $249,999
- a $600 for depositing or transferring between $250,000 and $499,999
- a $1,200 for depositing or transferring between $500,000 and $999,999
- a $2,500 for depositing or transferring $1 million or more
There are a couple of caveats, though. To receive the cash bonus, you have to fund your account with money or securities from an outside account — so you can’t take advantage of this offer by moving the funds you already have sitting in your E*Trade account. The other caveat is that you have to keep your new account open for at least six months or you’ll lose your cash bonus. On the upside, E*Trade will make your bonus funds available to you within seven days of funding your account.
For more information on E*Trade’s current promotional offers or to open an account, visit its website.