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

Kyle Burbank

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.

Other Articles by Kyle Burbank

AAA Review: Is AAA Worth It in 2024?

When I turned 16 years old and got my driver’s license, one of the gifts my father gave me was a AAA (American Automobile Association) membership. In 2013, following a short lapse in membership, my wife and I decided that our road-tripping ways would make having AAA a smart idea....
hallway in Universal's Aventura Hotel

Travel Tuesday: Universal's Aventura Hotel Review

For as many theme parks as I've been to in my life, it's not very often that I actually get to stay on property at these resorts. So, while visiting Orlando back in October 2023, I decided to change that and book a stay at Universal's Aventura Hotel — located at...
Pepper Rewards app on a phone and a happy customer

How You Can Save Even More with Pepper Rewards This Month

A mere few weeks ago, I discovered an app called Pepper Rewards — and I've been in love with it since. Simply put, the app allows you to buy digital gift cards from several brands and earn 5% back. While this 5% back can't be used for cash, it can...

Leave a Reply

The "Email" field is empty, you must enter some text to proceed.The text you entered in the "Email" field appears to be invalid, please edit it and try again
Get Posts in Your Inbox
Featured Articles

AAA Review: Is AAA Worth It in 2024?

When I turned 16 years old and got my driver’s license, one of the gifts my father gave me was a AAA (American Automobile Association) membership. In 2013, following a short lapse in membership, my wife and I decided that our road-tripping ways would make having AAA a smart idea....
hallway in Universal's Aventura Hotel

Travel Tuesday: Universal's Aventura Hotel Review

For as many theme parks as I've been to in my life, it's not very often that I actually get to stay on property at these resorts. So, while visiting Orlando back in October 2023, I decided to change that and book a stay at Universal's Aventura Hotel — located at...
Pepper Rewards app on a phone and a happy customer

How You Can Save Even More with Pepper Rewards This Month

A mere few weeks ago, I discovered an app called Pepper Rewards — and I've been in love with it since. Simply put, the app allows you to buy digital gift cards from several brands and earn 5% back. While this 5% back can't be used for cash, it can...
Pair of Allbirds Mizzle Runner-Ups

Allbirds Offering 30% Off Sale Ahead of Spring (Rainy) Season

One of my favorite shoe brands is having a sale. Currently, Allbirds is offering 30% off on a number of their shoes, including their water-resistant models. By using the code SPRING30 at check out, you can save 30% on "select styles" of shoes. Thankfully, "select styles" include both the Wool...