Available nationwide with the ability to open online, Bank of America's Merrill Edge is offering up to a $600 welcome bonus when you open a new Merrill Edge Self-Directed account and make an initial deposit.
What's more? There's also a $1,000 Merrill Edge bonus for those enrolled in Bank of America's Preferred Rewards program. The lower tiers are also bumped as well.
We only list the most popular tiers; however, here's a complete list of tiers you can ask for:
- $20,000 to $49,999 – $100
- $50,000 to $99,999 – $150
- $100,000 to $199,999 – $250
- $200,000 to $299,999 – $600
- $300,000 to $499,999 – $1,000
- $500,000 to $999,999 – $1,500
- $1,000,000 or more – $2,500
- $2,000,000 or more – $3,500
- $5,000,000 or more – $5,000
- $10,000,000 or more – $7,500
How To Earn The Bonus
The Bank of America Merrill Edge Self-Directed promotion requires you to deposit and maintain a minimum balance in order to earn the up to $600 bonus (step-by-step breakdown is listed above!).
As with any offer, don't forget to read the fine print before opening your new account. It's where the bank will clearly state who is eligible for the deal along with any nuances you'll want to be aware of.
The fine print
- Assets transferred from other accounts at Bank of America, MLPF&S, Bank of America Private Bank, or 401(k) accounts administered by MLPF&S do not count towards qualifying net new assets.
- You must enroll during account opening by entering the offer code in the online application or by providing it when speaking with a Merrill Edge Financial Solutions Advisor™ at 888.MER.EDGE (888.637.3343) or at select Bank of America financial centers.
Open a Merrill Edge Self-Directed account before the bonus expires
How does this investment offer from Bank of America compare?
To help you determine how this bonus stacks against the rest, here are some of the most popular offers available right now:
J.P. Morgan
Self-Directed Investing
- Bonus
- up to $700
- Account Type
- Investment
- Expires In
- 36 days
- Requires
- Min Balance
Tradestation
Brokerage Account
- Bonus
- up to $3500
- Account Type
- Investment
- Expires In
- Limited Time
- Requires
- Min Balance
Why Bank of America?
Bank of America is one of the "big four" banks in the United States, and is headquartered in Charlotte, but operates in more than 35 countries around the world. Merrill Investing also falls under the Bank of America umbrella, and between the two brands, you can find nearly any financial product you'd want: checking and savings accounts, home and auto loans, HSAs, business products, credit cards, CDs, money market accounts, IRAs, and more.
Their online and mobile tools offer a solid digital experience with alerts, mobile check deposits, spending charts, easy card replacement requests, digital wallets and more. Customers also tend to rank their service favorably, with convenient support hours and real humans on the other line.
The trade off to a plethora of banking products, a huge network of physical locations and ATMs, and a well-reviewed digital experience are the same as most of the other big banks: don't expect wow-ing interest rates. Plus, you'll want to be sure to avoid their penalty fees, which are steep and can be harsh. For example, their overdraft fee is $35, and their policy allows them to charge it as often as 4 times each day.
Learn more in our Bank of America review
Merrill Edge Self-Directed
Merrill Edge is the investment arm of Bank of America. One of their services is Self-Directed trading which allows you to manage your own investments. Like many other investment platforms these days, this comes with unlimited $0 online stock and ETF trade commissions, $0 balance minimums and $0 annual fees.Fees
Merrill Edge Self-Directed does not charge a monthly maintenance fee.
Apply now for a Merrill Edge Self-Directed account to earn the up to $600 bonus offer
Share Your Thoughts or Questions
There have been 4 comments about the Bank of America Merrill Edge Self-Directed up to $600 Bonus.
Nicholas
November 15, 2023It's nice that Bank of America has a self directed brokerage account that doesn't require active management with the many fees that involves. I'd consider this if I had a lot of money to invest right now, but it seems like other brokerages have better bonuses for certain tiers.
ReplyReply to Nicholas
Lee
November 15, 2023I would love to open a self-directed brokerage account at Bank of America, but the requirement for this promotion is a little too steep for me to swallow. So, for now, I will wait and hope for a better BOA brokerage account promotion.
ReplyReply to Lee
kat
November 14, 2023boa often hides fees and hoops and pulls rewards away. I'm still salty about a brokerage meeting that went nowhere. it was like 10 years ago, lol.
ReplyReply to kat
Ankit Jain
November 8, 2023I would be careful with Bank of America and keep a screenshot of the terms and the code applied. They tend to be the worse in posting the bonus and might need proofs. Also, sometime they have language in the terms which makes the offer specific to the person received email from BOA. Carefully read the terms before getting into the offer
ReplyReply to Ankit Jain
Add to the discussion