The Offer
Targeted offer via email, offer terms can be found here
- Robinhood is sending some existing users an offer to get up to $250 bonus by depositing funds:
- $5 for $100-$499
- $15 for $500-$2,499
- $50 for $2,500-$4,999
- $100 for $5,000-$9,999
- $200 for $10,000+
The Fine Print
- Your cash reward will be based on your net deposits. Net deposits are the total amount of all initiated deposits from May 6-May 19, 2021 minus initiated canceled deposits or withdrawals from May 6-May 26, 2021. Simply: it’s the money you put in minus the money you take out through the above dates.
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Corresponding cash rewards will be automatically deposited by June 2, 2021.
- The funds you receive through the deposit match program will be reported as miscellaneous income in your 1099-MISC form. Because of IRS minimum earnings requirements, you may not receive a 1099-MISC form if your deposit-matched funds and any other funds (i.e. stock reward funds) are valued at less than $600.
Our Verdict
We saw a similar targeted offer from Robinhood in March. This is a nice bonus for a $10,000 deposit, and the funds just need to remain there for a few weeks. Check your email to see if you were targeted, I’m not sure if this is being sent out widely or with more selective criteria.
Hat tip to reader Davis
