No answer to my last post in this thread?

I believe the only case was when Brinson Trust Company had some Enron losses in a "cash management fund" offered in certain companies' 401k's. It wasn't called a money market fund, but it essentially was. Even then, the markdown was less than 2%.

I think it would take a financial calamity of epic proportions before a money market fund were to lose significant principal.

I see. Here´s another question. In the situation mentioned above, the fund company liquidated the fund at par and the customers got their full account balance the day the fund was liquidated back, right?

The 1st half of the miles for my new joint account posted. Took about 7 days after funding for the miles to post. I had previously received miles from Ameritrade for an individual account, so I guess you can get miles for 2 accounts.

Details?
 

Thanks for the info. MoCheex. Can I just confirm a few things?

1. Did you use the same SPG number for both accounts?

2. Obviously, you used the same social security number for your account and this new joint account?

Thanks again for the update.

SDFLYER

I'm not sure about liquidation, but I have read about several situations where the fund family bought the distressed short term debt at par and ate the small loss, leaving the fund at $1.00. Fund companies, with the exeption mentioned above, have always decided the relatively low cost of keeping the buck is worth avoiding the very bad PR.

If you want even more safety than a normal MMF, you can buy funds that invest exclusively in U.S. goverment obligations. The yields are ususally slightly lower for these.

1. I got United miles and used the same MP # on both accounts. I do not believe this offer (an individual and joint account) is valid for SPG points.
2. Yes. I was the primary person for the joint account.

Difference between UAL and SPG offers?
 

Thanks MoCheex. What is the difference between the UAL and SPG offers that makes one OK for individual and joint account and the other not?

I think the difference is that United has targeted people that already have accounts to open additional accounts whereas SPG has only offered it to 1st time customers. If you really want the SPG points, open an account in the name of someone that lives at your address (SO or otherwise) and then transfer the SPG points into your SPG account. That is what I did for more SPG points.

Is there a cost to transfer *wood points between accounts?

No, not if you live in the same household (e.g., have the same address).

HI all - I am so ready to open the ameritrade account -- couple of items to confirm please:

1. if i do the $10k opening - can i put in $8k cash and transfer $2k in stocks?
2. if the value of $10k goes below due to dip in stocks, then I am not penalized?
3. if I put in the 10k but do not want to buy stocks, can I buy MM funds or just leave it sit there?

Thanks!
Allen

1. Yes
2. Yes, no problem if your account goes below $10K as long as at least 10K was originally put it.
3. Yes, both of these can be done. There is actually a MM fund that you can sign up for right off the bat. If you have unused $$$ in your account, it will automatically sweep to this MM fund daily. I think the MM fund currently pays ~3% interest.

just one last confirmation because im a wacko - when i call ameritrade - both times they said that the $10k must remain for 9 months or pay the worth of the points... are you saying you dont need the 10k?

thanks

Unless something has changed recently, Ameritrade does not offer the traditional sweep mechanism that most brokerages provide to their customers. My cash never earned interest, and when I called to find out what could be done, they referred me to some product whose application was not readily available on their website.

I decided to transfer all unused cash out of Ameritrade until it was needed for future purchases.

You DO need the $10K initial deposit (stock transfers, cash, whatever) in your account. IF your account balance dips below $10K because of your poor stock picking skills, you still get all the SPG points. IF your account balance dips below $10K because you withdraw money from your Ameritrade account, then you might not get the 2nd half of the SPG points according to the T&Cs of the promo.

This is the product that I was referring to. It is available to sign up for when you initially sign up for your account. Otherwise, like you say, it is impossible to find information for it on the Ameritrade website. However if you call them up you can get an application for it faxed to you. I have done both of the above for my various Ameritrade accounts since I can not sit idely (sp?) by while my cash earns 0.1% interest when it should be making at least 3%.

Although I'm currently not a big fan of TD Waterhouse, perhaps Ameritrade will address the sweep mechanism "problem" when they merge with TDW in the future.

You CAN sweep with Ameritrade. Call and ask about it. They call it a Total Asset Plan (TAP) which is confusing but ALL you are doing is selecting a MM fund. Pick the Prime. It's somewhere between 2 and 3% now. Much better than .1%. No fees involved.

I called into Ameritrade about a month ago, and they mentioned this service. They said I had to print off the form from their website, sign it, and mail it in to get it started. I went to their website, and this form is nowhere to be found. I concluded that it was less aggravation to move my cash to an internet bank and earn a higher rate of interest.

By the way, I checked the copy of my original application, and there is no mention of this service. Bottom line -- it shouldn't be this hard to set up a cash sweep for a brokerage account! The service should be automatic, and the only decision should be what investment vehicle you want to use to park your cash (e.g., taxable mm, tax-free mm, etc.).

I agree. But the TAP program IS there if you are lucky enough to know about it (or stumble across it somehow). And if somebody does want to park the $$$$ with Ameritrade without much risk (or trading commisions) for the required 9 months, TAP is a great way to do it and get ~3% interest in the process.

Anyone have the phone number to call at Ameritrade to talk with someone about getting the necessary forms for the TAP arrangement? I've looked on their website but can't find any phone numbers. As everyone switches more and more to online it gets more and more difficult to talk with a real live person about anything.

upgrader - click contact us on the bottom menu and the number is there - ask them to email you the forms - they did so for me last evening

tho this account is not fdic insured and may lose value

Fyi
 

Be aware ----I've just had conflicting information from Ameritrade -
If your stock 'deposit' goes below the required minimum for the promotional bonus (ie - $25,000 for 20,000 SPG pts.) your promotion may be at 'risk'....my stock has been dropping so I added cash to my account to keep the promotion 'alive'...(The first half has already posted) - At first I was told when the promotion 'kicked in' you were protected even if the stock dropped - but another phone call told me that the minimum must be kept for the 9 months.........
And, thanks for the info. - I asked for and am being sent the TAP application forms for the (interest) 'sweep' for the cash in the account.....

Almost all, if not all, "stock" accounts are not FDIC insured, and they may lose value.

As long as its devaluing based on market value you are ok as you are not actively transferring funds out

Any promos out there that give you a certain number of free trades? or any promo for existing accounts depositing under $10k?

I know TD waterhouse has free trades for a month via their online ads (check yahoo finance, etc). The funny thing is they are merging w/ Ameritrade, becoming TD Ameritrade on 1/24 (official deal close). so you can get your free trades. Plus they have a free Ipod Nano for anyone depositing over 50K to TDW via one of their branches.

Can you fund an Ameritrade account with a debit card?

Please tell us what you find out when you ask them. Also please tell us if you may chose to use the card as a credit card, not a PIN based transaction.

Thanks.

Apparently you cannot. Thought it would be perfect to buy through DL AMEX and use for Ameritrade. Does anyone know of any online trading companies that let you do this. Im surprised since it comes straight out of your bank, it's easier than sending in a check in my opinion.

Many will let you fund through ACH which also comes straight from your bank and w/o a pesky %-based transaction fee.

Yeah, but I was hoping to earn miles for it everytime I funded the account:)

Would you or anyone have copy of the promo where with $50,000 new money you received 35,000 AW ff miles?