Originally Posted by
G2244
I could not find specifics anywhere and many calls over a period of time provided only inconsistent answers. They went all the way from 3 full calendar months had to pass regardless of funds to some indication my plan above would track. My experience is that is was somewhere in the middle.
there were plenty of (unofficial) datapoints that the balance is captured ~3-5th of month, and you don't need 3 months if you deposited 300k (causing your 1st month avg to be 100k)
hoped you got the merrill edge opening bonus too (they might have raised bonus 50% after you moved it)
if you have cash still in merril, would suggest you setting up Preferred Deposit (100k initial requirement, but can withdraw it down to 2k online). it had pretty decent rates pre-covid, but only 0.05% now.
still, easy to keep your options open
https://www.bogleheads.org/forum/viewtopic.php?t=274947 (it was 1.5-2% pre-covid, which was decent compared to online banks ~2.+%)