A Redditor aimed to maximize rewards for a $1 million deposit as a small business owner. They explored offers from various banks, including E*TRADE and Schwab. While Fidelity's offer was modest at $2,000 for the deposit, Schwab outlined a more appealing package, offering $3,000 for a $1 million deposit and $5,000 for $1.5 million. Ultimately, this Redditor chose Schwab based on these incentives, reflecting a trend among individuals seeking bonuses and optimizing banking relationships.
Fidelity offered little, just $2,000 for a $1 million deposit, and it didn't have any public offers. Schwab went a little higher, offering $3,000 in bonuses for $1 million or upping it to $5,000 for $1.5 million.
As a small business owner, this individual posted indicating they were closing out the books in 2024 and would look to deposit around $1 million dollars.
The original poster wanted to shop around and see if they could get any 'reward' or incentive for making such a sizable deposit at local banks or financial institutions.
Unsurprisingly, we're always on the hunt for any way to earn a little extra 'free' money, so it's hard to fault this Redditor for shopping around his sizable deposit.
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