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Charles Schwab Promotions, Offer Codes and Bonuses 2021


Current $500 Charles Schwab promotion, offer code, and cash bonus incentive. October 2021 best Charles Schwab promotions for opening a new account or for existing customers depositing cash into a brokerage account, ROTH IRA, or 401K rollover IRA.



Charles Schwab Promotion:




Charles Schwab Promotion Details:


Schwab BonusDeposit or Transfer
$500 $100k+
$300 $50k - $99.9k
$200 $25k - $49.9k
$100 $1k - $24.9k

For now, Schwab only has one promotion-type program: referring a friend can get them up to $500 when they sign up.

This is interesting because the appeal lies pretty much exclusively with the friend. Typically, referral programs offer some form of benefit to the person making the referral so that they’re incentivized to refer as many people as possible.

With Schwab, as their website copy says, using their referral program makes you a “true-blue friend.” It would appear, then, that Schwab is relying on people who genuinely appreciate Schwab and want to help their friends benefit from both Schwab’s services as well as some extra cash.

If you want to be rewarded with free stocks valued up to $1,850 for referring clients to a brokerage, use a referral program from Webull instead.


Webull Promotion


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How to Use Schwab Promo:


Schwab’s friend referral program is quite straightforward. Simply login to Schwab, hover over “Service,” and select “Refer A Friend.”

Then, you’ll see a box that says, “Share your referral code.”

Simply copy and paste this referral code and send it to your friends and family.


Charles Schwab Promotion


Once they open an account using the link, and fund it within 45 days of opening it, Schwab will deposit the Bonus Award into their account after the 45-day qualification period.

It should be noted that only certain accounts are eligible for the Referral Offer:

- IRAs
- Schwab Intelligent Portfolios
- Schwab Managed Portfolios
- Schwab Managed Account Select
- Schwab Bank High Yield Investor Checking (when combined with Schwab One accounts)
- Schwab Global Accounts, ERISA-covered retirement plans, and certain tax-qualified retirement plans and accounts, as well as education savings accounts and accounts managed by independent advisors do not currently qualify.

It should also be noted that this program cannot be combined with other temporary offers that Schwab might put out, and you won’t be notified when a friend or family member opens the account (for privacy reasons).

It is possible, however, for two new clients living in the same household to receive the bonus, so long as they set up individual accounts and make the qualifying net deposit within 45 days.



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Overview of Charles Schwab


Charles Schwab is a highly rated broker with an extensive array of services and tools that appeal to all levels of investors, from total beginners to seasoned veterans.

Schwab dropped commissions on equity and ETF trades down to $0 in 2019 to compete with upstart brokers such as Gen Z and Millennial favorite Robinhood. The company has also been aggressive in terms of mergers and acquisitions, taking over USAA Investment Management Co. and acquiring TD Ameritrade in 2020.

This has made Charles Schwab one of the biggest and most reputable brokers out there. A key aspect of brokers nowadays, however, involves perks like promotions and referral programs.


Charles Schwab Incentive


Schwab Advantages


In addition to the Refer A Friend promotion, Charles Schwab offers numerous advantages to investors.

Free stock and ETF trading – While Schwab’s fund fees are relatively high, there are roughly 4,000 that are free to trade. Plus, stocks and ETFs are entirely free to trade.

Outstanding research – Schwab offers a bevy of great resources for research—so many, in fact, that it may be daunting for beginning and even intermediate investors.

Excellent customer service – Schwab’s customer service is available around the clock and typically provides fantastic service. The only main downside is that there is no email support.

Easy account opening – Schwab has kept up with the times by making opening an account fully digital and a total breeze.

No minimum deposit – There are no minimum deposits required to open an account so long as you’re a U.S. citizen. International clients must transfer at least $25,000 to start.

User-friendliness – All around the app and website, Schwab wins points for its user-friendliness. Its features and general design are both intuitive and useful.

Solid mobile app – The Charles Schwab mobile app may not be incredible but it is definitely above average. It scores points for its user-friendly nature and top-of-the-line security features, such as biometric authentication and 2-factor authentication.

Good customization – The web trading platform offered by Schwab features a smooth design but is not customizable; the desktop trading platform, on the other hand, is extremely customizable. The only downside is that it is only available for Windows.

Safe and secure – Schwab is regulated by the SEC, FINRA, and CFTC in the U.S. Plus, investors are protected by SIPC.

Extensive educational resources – The educational content at Schwab may not be very well organized, but it makes up for this through the breadth and quality of its educational offerings, including numerous videos and articles of excellent quality.


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Wrapping up


Schwab is an extremely solid broker option, and the Refer A Friend program is a little bit of icing on top, letting you gift your friend with some easy cash while hardly lifting a finger.

While it would be nice if Schwab increased their promotional offerings and/or incentivized the friend referral program by benefitting the person making the referral, they make up for this by being an excellent overall broker.


Charles Schwab Bonus Offers Disclaimer


Current Charles Schwab promo code details to open a new account could change at any time without notice. Read bonus offer details carefully before depositing any money.