Schwab is Now Offering $101 in Free Stocks to New Customers

Over the past few years, I’ve seen plenty of bank bonuses and other offers — some of which are great and others of which are, well, not. Given my line of work, more often, I come across really attractive offers from FinTech startups, which are so good that they usually don’t seem sustainable. Meanwhile, although big banks may promote bonuses of “up to $200” or so, the requirements to get that top tier are kind of ridiculous (think “when you deposit $20,000 or more”). That’s why I was excited to come across an offer from a well-known company that’s actually a pretty generous deal. Introducing the Schwab Starter Kit.

Let me cut to the chase here: currently, when you open a new Schwab brokerage account and deposit at least $50, you’ll receive $101 worth of free stocks (get it? 101?). By default, this $101 bonus will be issued in the form of five slices of the top five S&P 500 companies. Right now, that means you’d get around $20.20 each of Amazon, Microsoft, Tesla, Google, and Apple. However, if those don’t exactly strike your fancy, there seems to be a workaround that Schwab themselves outline in their FAQ. Since Schwab will notify you the night before your Stock Slice orders are set to be placed, you’ll have time to cancel them. If you do, your $101 will still be credited to your account, allowing you to invest it as you see fit.

While this $101 bonus is obviously the star in my book, I should mention that there’s a bit more to the offer as well. Specifically, with the Starter Kit not only be aimed at new Schwab customers to those who are new to investing in general, those who sign up for this offer will also have access to educational resources on a number of topics. Looking around, this includes videos and articles on trading as well as walkthroughs about the Schwab platform itself.

Personally, I signed up for this offer a couple of weeks ago. Sure enough, a couple of days after my initial deposit cleared, I saw the $101 credit arrive. Then, the next day, my five Stock Slice orders were placed. Granted, I went ahead with this plan before I knew about the alternative, but I’ve fine with it either way. Also, I’m not sure how long you need to let your money (deposit or bonus) sit in your account before transferring it back out, but I’m happy to let my new investments sit there.

For more on the Schwab Starter Kit, I actually wrote a more in-depth look at the offer over on Dyer News. But, if you’re already convinced, you can take advantage of this deal by going to the Schwab Starter Kit site or just entering the promo code “SCHWABSTARTERKIT” when opening a new account. Either way, with an easily accessible minimum and double the value in return, I think this is definitely a deal worth considering.

Author
Founder ~ Moneyat30
Kyle is a freelance writer - including being the head writer for Fioney.com. He also serves as editorial director for the Disney fan site LaughingPlace.com and the founder of Money@30.com. In 2015, Kyle and his wife Bekah moved from Los Angeles to Springfield MO in pursuit of greater financial freedom. Together, the pair enjoy travel, coffee, and spending time with their dog Rigby. Additionally, as of 2023, they become first-time homeowners.
Other Articles by Kyle Burbank
person standing in front of exploding fireworks
Hey You Kids, Get Off My Lawn!
With last Friday being July 4th, I decided to take a week off from posting. However, I wanted to share a story from that night (or, really, early the next morning). Backing up, last year, we learned that our neighbors loved fireworks. So we were prepared for a few hours of noise and helping our...
Venetian rewards gems
Travel Tuesday: The Venetian Surveying Guests on Possible Rewards Credit Card
Late last year, I had a chance to cross another Las Vegas Strip property off my list with a stay at The Palazzo at The Venetian. Whether because of that or because I opened a players club card with them as well, this week The Venetian sent me a survey regarding a potential rewards credit...
Allbirds 4th of July sale logo
Allbirds is Celebrating Independence Day with a 50% Off Sale
One funny thing about summer is how a sunny day can quickly turn into a heavy downpour. This is even more prominent in certain parts of the country where you may be headed on a summer vacation (I'm looking at you, Florida!). So, given that weather reality, it makes perfect sense that Allbirds would be...

Leave a Reply

Featured Articles
Hey You Kids, Get Off My Lawn!
With last Friday being July 4th, I decided to take a week off from posting. However, I wanted to share a story from that night (or, really, early the next morning). Backing up, last year, we learned that our neighbors loved fireworks. So we were prepared for a few hours of noise and helping our...
Travel Tuesday: The Venetian Surveying Guests on Possible Rewards Credit Card
Late last year, I had a chance to cross another Las Vegas Strip property off my list with a stay at The Palazzo at The Venetian. Whether because of that or because I opened a players club card with them as well, this week The Venetian sent me a survey regarding a potential rewards credit...
Allbirds is Celebrating Independence Day with a 50% Off Sale
One funny thing about summer is how a sunny day can quickly turn into a heavy downpour. This is even more prominent in certain parts of the country where you may be headed on a summer vacation (I'm looking at you, Florida!). So, given that weather reality, it makes perfect sense that Allbirds would be...
An Amex Platinum Card Revamp is Coming — And I'm Worried
Earlier this week, Chase confirmed pretty much every rumor that had been swirling for the past couple of months by announcing details on a major refresh for its uber popular Sapphire Reserve card. When this refresh launches next week (or in October for current cardholders), it will bring new credits, a reimagined rewards-earning system, and...