Newest Merrill Edge Promotions: Best Offers, Coupons, and Bonuses June 2020 

The latest Merrill Edge promotions are worth up to $900.

Merrill Edge, the online investment platform of Bank of America Merrill Lynch, gives self-directed investors access to stocks, bonds, mutual funds, exchange-traded funds, options contracts and more. Because it’s one of thousands of banks and brokerages in the U.S., there’s lots of competition. To compete, many of these firms offer bonuses to customers who open new accounts.

Although these types of bonuses are easily accessible, more than half of the respondents in a GOBankingRates survey said they weren’t familiar with promotions their financial institutions offer — or even interested in switching institutions to earn them. That’s too bad, because many are missing out on free cash.

If you’re a part-time investor or day trader, take a look at the Merrill Edge promotions for June 2020. Here’s what this guide covers:

Merrill Edge Promotions at a Glance

The Merrill Edge offers for June let you earn cash bonuses if you have at least $20,000 to invest. Here’s a quick overview:

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Best Merrill Edge Promotions: June 2020
Account Cash Value of Bonus Expiration Date
Merrill Edge Self-Directed Preferred Rewards Up to $900 July 15
Merrill Edge Self-Directed Up to $600 None

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Current Merrill Edge Promotions

To earn the Merrill Edge bonuses, you’ll need to follow a few steps. Keep reading for a deeper look at the current  promotions:

Merrill Edge Self-Directed Account Preferred Rewards: Up  To $900 Cash Bonus

The Preferred Rewards bonus is based on a sliding scale of how much you deposit. You’ll need to enroll first to qualify for the bonus. Here are all the details:

  • Cash Value: Up to $900, depending on your deposit amount; these are the different tiers:
    • $20,000 to $49,999: $150 cash bonus
    • $50,000 to $99,999: $225 cash bonus
    • $100,000 to $199,999: $375 cash bonus
    • $200,000 or higher: $900 cash bonus
  • Availability: Nationwide
  • Minimum Deposit To Qualify: $20,000
  • Expiration Date: July 15, 2020
  • How To Get It: Enroll in Preferred Rewards online, at a local office or by calling 888-637-3343 using Merrill Edge coupon code 900ME. Next, open an account, make an investment in your new account within 45 days and maintain the balance for the first 90 days.
  • When You’ll Get It: Two weeks after the 90-day requirement
  • Terms and Conditions: The offer is available for new and existing individual Merrill Edge IRAs or Cash Management Accounts (CMA), as long as they’re opened before July 15.
  • Monthly Fees: None
  • Promotion Page: Merrill Edge Self-Directed Account Preferred Rewards bonus offer

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Merrill Edge Self-Directed Account: Up To $600 Cash Bonus

This promotion is similar to the Preferred Rewards offer in that you’ll earn cash based on your initial funding, but the cash bonus is not as high and there’s no expiration date. Here are all the details:

  • Cash Value: Up to $600, depending on your deposit amount; these are the different tiers:
    • $20,000 to $49,999: $100 cash bonus
    • $50,000 to $99,999: $150 cash bonus
    • $100,000 to $199,999: $250 cash bonus
    • $200,000 or higher: $600 cash bonus
  • Availability: Nationwide
  • Minimum Deposit To Qualify: $20,000
  • Expiration Date: None
  • How To Get It: Open an account using Merrill Edge promo code 600ME, make an investment in your new account within 45 days and then maintain the balance for the first 90 days.
  • When You’ll Get It: Two weeks after the 90-day requirement
  • Terms and Conditions: The offer is available for new and existing individual accounts.
  • Monthly Fees: None
  • Promotion Page: Merrill Edge Self-Directed Account bonus offer

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Is Merrill Edge Worth the Switch?

The latest Merrill Edge promotions can put a nice chunk of cash in your pocket if you have enough money to earn the bonuses, so they’re certainly worth checking out if you qualify. The Self-Directed account doesn’t have any balance minimums past the 90-day bonus offer period and lets you make unlimited online option, stock and ETF trades for free. The brokerage account is also connected to your Bank of America accounts so you can manage all of them in one place and transfer funds between the two.

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Signing up with Merrill Edge means you get access to research tools for investors of all levels, though the brokerage might be best for new or occasional traders interested in a user-friendly, low-cost investment platform. If you’re a frequent trader, you might find the securities selections too limited.

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This content is not provided by Merrill Edge. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by Merrill Edge.

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About the Author

Cynthia Bowman

Cynthia Paez Bowman is a personal finance writer with degrees from American University in international business and journalism. Besides writing about personal finance, she writes about real estate, interior design and architecture. Her work has been featured in MSN, Brex, Freshome, MyMove, Emirates’ Open Skies magazine and more.

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