How I’m Getting a $1,000 Bonus from Merrill Edge (and Why It’s a No-Brainer for BofA Members)

Brokerage bonuses are a fantastic way to get "free money" for moving assets you already hold. While some offers are complex with long holding periods, the latest promotion from Merrill Edge caught my eye for its simplicity and perfect synergy with the Bank of America Preferred Rewards program.

Currently, you can earn a cash bonus of up to $1,000 for moving new assets into a Merrill Edge Self-Directed Investing account.

What makes this offer stand out? It's the ease of use, a short holding period, and its seamless integration into the BofA ecosystem that makes it an incredibly low-effort win. Here’s a breakdown of the offer and how it fits into my long-term rewards strategy.

HOW THE MERRILL EDGE BONUS OFFER WORKS

The offer is straightforward. You get a cash bonus based on the amount of new assets you transfer to a new or existing Merrill Edge account.

Crucial Step: To qualify for this bonus, you must use the promo code PR1000 when you enroll in the offer or open your account.

Here are the bonus tiers:

• Get $1,000 for transferring $250,000 or more

• Get $600 for transferring $100,000 - $249,999

• Get $250 for transferring $50,000 - $99,999

• Get $100 for transferring $20,000 - $49,999

The key feature I love is the holding period: you only need to maintain the balance for 90 days after funding the account. This is significantly shorter than the six-month or one-year requirements you see with many other brokerage promotions, giving you much more flexibility.

THE REAL STRATEGY: SUPERCHARGING YOUR BofA PLATINUM HONORS

A $1,000 bonus is great, but for me, the real power of Merrill Edge lies in its connection to the Bank of America Preferred Rewards program. This is where the long-term value is truly created.

I personally keep at least $100,000 in assets at Merrill Edge at all times. The reason is simple: maintaining this balance qualifies me for the top-tier Platinum Honors status in the Preferred Rewards program.

Platinum Honors status is, in my opinion, one of the best loyalty programs available. It gives you a 75% bonus on your credit card rewards, which transforms a good credit card into an unbeatable one. For example, my Bank of America® Premium Rewards card, which normally earns 1.5% cashback on all purchases, becomes a powerhouse that earns a whopping 2.625% cashback on everything.

That ongoing, high-yield cashback is the cornerstone of my entire rewards strategy. You can read my full breakdown of the program here:

https://www.mybestmoneylife.com/bank-of-america-preferred-rewards

MY GAME PLAN FOR THE $1,000 BONUS

Since I'm already keeping $100,000 at Merrill to maintain my Platinum Honors status, taking advantage of this bonus is a simple, logical next step.

1. Enroll in the Offer: First, I'll enroll my account in the promotion using the code PR1000.

2. Move Additional Assets: I will move an additional $250k for the $1000 bonus.

3. Hold for 90 Days: I'll park the funds in a low-risk ETF or money market fund for the required 90-day period to avoid market volatility.

4. Collect the $1,000 Bonus: Once the holding period is over and the bonus is paid, the process is complete.

5. Rebalance: Afterwards, I can move the additional funds to a brokerage with a bonus, leaving my core $100,000 at Merrill Edge to continue fueling my Platinum Honors benefits.

WHY THIS OFFER IS A NO-BRAINER

Even if you find larger bonuses elsewhere, here’s why this specific Merrill Edge offer is so appealing:

• Seamless Integration: If you're already a Bank of America customer, everything is visible on one platform. Transfers are quick and painless.

• The Short Holding Period: 90 days is fantastic. It means your money isn't tied up for a long time, giving you ultimate flexibility.

• A Perfect Complement: For anyone already participating in—or aspiring to—the higher tiers of Preferred Rewards, this bonus is just the cherry on top of an already winning strategy.

If you’re a Bank of America customer with assets sitting at another brokerage, this is one of the easiest bonuses you can earn this year. It’s a low-effort way to pocket an extra $1,000 while ensuring you’re maximizing the incredible, long-term benefits of the Preferred Rewards program.

Disclaimer: This article is for informational purposes only and is not financial or investment advice. Always verify offer details, terms, and conditions on the official Merrill Edge website. Offers and terms are subject to change.