Bank of America Offers Free Online Trades Too
Maybe new broker Zecco (my review) was right and stock trades really are a commodity now. Today, Bank of America announced that they will be offering 30 free online trades a month for customers with at least $25,000 in combined deposits. Not surprisingly, shares of discount brokerages like E-Trade (ET) and Ameritrade (AMTD) are not doing so hot, both down ~10% today.
It’s only available in the Northeast at first, nationwide later. Thanks to Corey and everyone else for the tip.
October 11th, 2006 at 12:42 pm
[…] (via My Money Blog) […]
October 12th, 2006 at 7:58 am
I was just in NYC yesterday and Bank of America has a huge banner hanging across the NYSE about this new feature. hHey also had their grassroots marketing team out in full force.
October 12th, 2006 at 11:49 am
I think BofA charges a monthly or quarterly fee for those accounts.
October 12th, 2006 at 11:25 pm
starhusker Wrong. They dont charge any fee for a brokerage account at BOA as long as you have any checking account with BOA. If you had a checking account with BOA even before this promo you got discounted trades for $9 each even with a basic free checking account with no balance requirement what so ever. If you had one of thier better checking accounts you either paid $5 or $7 per trade prior to this offer.