Charles Schwab Brokerage
Charles Schwab is offering $101 bonus when you sign up for a new brokerage account and fund it with $50 within 30 days of account opening. You must apply promo code “SCHWABSTARTERKIT” to be eligible for this offer.
This offer is valid for new Charles Schwab Brokerage Services customers and offer is limited to one bonus award per individual.
Charles Schwab Signup Bonus Summary
Bonus – $101
Funding Requirement – $50
Offer Expiry – No Mention
Promo Code – “SCHWABSTARTERKIT” (Required while opening the account)
Inactivity Fees – None
Signup Bonus Requirements
- Open a new Brokerage account within the promotional period with the promo code “SCHWABSTARTERKIT”.
- Fund the account with either $50 within 30 days of registering the account.
- Bonus will post the next trading day after your deposit is settled.
Inactivity Fee | How to Avoid It?
- There is no inactivity fees.
Early Termination Fees
There is no early termination fees.
The Fine Print
- The Schwab Starter Kit™ offer is only available to eligible new customers. To be eligible to receive the $101 cash bonus, you must be an individual who does not have a Charles Schwab & Co., Inc. (“Schwab”) account (other than a Schwab Stock Plan Services account) and who: (1) opens a Schwab One individual taxable retail brokerage account and (2) deposits at least $50 into that account within 30 days of enrolling in the offer (only outside assets new to Schwab qualify; assets transferred from affiliates other than Schwab Retirement Plan Services are excluded).
- The Schwab Starter Kit is intended to help you start investing. So with this offer, when you open your brokerage account, you will instruct Schwab to use the $101 cash bonus to place orders for you in the future to buy $20.20 fractional shares of each of the top 5 fractional shares by market capitalization in the S&P® 500 Index through Schwab Stock Slices™ (unless the orders are cancelled by you—see details below). The top 5 stocks will change from time-to-time. To see the top 5 fractional shares at any time, go to www.schwab.com/starterkit.
- After you enroll in the offer, here’s what will happen:
- Two business days after your account is opened, Schwab will begin checking for qualifying deposits every business day. Once your qualifying deposit has been received, Schwab will credit the $101 cash bonus to your brokerage account at approximately 6:00 p.m. Eastern Time the next trading day. (If you make your qualifying deposit after 8:30 p.m. Eastern Time, Schwab will credit the $101 cash bonus at approximately 6:00 p.m. Eastern Time two trading days later.)
- Schwab will send you an email about your 5 trade orders the night before the orders are placed.
- Schwab will place the 5 orders for you ($20.20 fractional share orders for each of the top 5 stocks in the S&P 500) at approximately 8:00 p.m. Eastern Time the day the cash bonus is credited to your account, provided you maintain at least $50 in your brokerage account at that time.
- You will have a short period of time (from approximately 8:00 p.m. Eastern Time until approximately 9:25 a.m. the next trading day) to cancel the orders.
- To cancel the orders, you will need to go to the Order Status page on schwab.com or on any of Schwab’s other trading platforms or call a Schwab representative at 800-435-4000.
- If you cancel your orders, you will keep the $101 cash bonus and can save or invest it however you want.
- If you take no action, the orders will be executed shortly after market open the next trading day. You will then see the fractional shares reflected in your account and Schwab will send you trade confirmations for the trades.
- This Schwab Starter Kit offer is limited to one per account, with no more than one account enrolled per client and does not apply to Schwab Bank High Yield Investor Checking® accounts, the Schwab Global Account™, joint accounts, trust accounts, custodial accounts, IRAs, ERISA-covered retirement plans, other tax-qualified retirement plans and accounts, education savings accounts, or accounts managed by independent investment advisors.
- The cash bonus will be reported on your Form 1099-INT. Any related taxes are your responsibility.
- If you do not want to place orders to buy fractional shares or receive the $101 cash bonus as described above, you may open a Schwab brokerage account independent from the Schwab Starter Kit offer by going to schwab.com or the Schwab Mobile app.
It is an excellent signup bonus for opening a new account and depositing only $50. There are only few brokerage out there who provides a better signup bonus but the deposit requirement is higher. We recommend this Charles Schwab Signup bonus.