Charles Schwab, Get up to $500 Bonus When You Get Referred for a New Account
Charles Schwab has a new bonus offer for new accounts. You can earn up to $500 depending on how much you deposit in the account. But there’s a catch for this Charles Schwab bank bonus. You must be referred by someone else.
Offer
To earn this cash bonus, you need to make a qualifying net deposit of cash or securities. The bonus you earn depends on the amount of money you deposit. Here’s how it works:
| Bonus Award | Net Deposit |
|---|---|
| $500 | $100,000+ |
| $300 | $50,000-$99,999 |
| $100 | $25,000-$49,999 |
Terms
- Offer valid for referred individuals who do not currently have a Charles Schwab & Co., Inc. (“Schwab”) account (other than a Stock Plan Services account) and who open and make a qualifying net deposit into an eligible retail brokerage account within 45 days of enrolling in the offer.
- Net deposits are assets deposited into the enrolled account minus assets withdrawn from the account and transferred out of Schwab.
- Only outside assets new to Schwab qualify; assets transferred from affiliates other than Schwab Retirement Plan Services are excluded.
- Net deposits will be calculated as of the 45th day after enrollment, and the bonus award will be credited to the enrolled account within approximately one week.
- For taxable accounts, you must maintain the net deposit amount (less any market losses) at Schwab for at least one year or Schwab may charge back the bonus award.
- Schwab reserves the right to change the offer terms or terminate the offer at any time without notice.
- This offer is limited to one per account, with no more than one account enrolled per client.
- It does not apply to accounts managed by independent investment advisors, the Schwab Global Account™, ERISA-covered retirement plans, certain tax-qualified retirement plans and accounts, or education savings accounts.
- The bonus award, when combined with the value received from all other offers in the last 12 months, may not exceed $5,000 per household, as defined in the Charles Schwab Pricing Guide for Individual Investors.
Guru’s Wrap-up
As mentioned above, you must be referred by someone else in order to get this Charles Schwab bank bonus. The person referring does not get a bonus at all. Both the checking account and brokerage account qualify for this offer, but keep in mind that it is a hard pull. The reason why people would want these accounts is because the checking account refunds all ATM fees worldwide, and the brokerage account makes you eligible for the Charles Schwab American Express cards.
If this bonus is not for you, then you can check our full list of available bank bonuses. And, if you’re new to bank account bonuses, you can learn more about churning bank accounts here.
