A few months back, I blogged about a free $1.5k opportunity (link).
Well, it worked.
I get paid at the end of the month. I dumped $5k to HSBC via my employer’s direct deposit. The following day I pulled the $5k from HSBC to my Fidelity CMA/Brokerage on an automated schedule. Consequently, there was only 3 days of forgone interest ($5k * 0.015 * (3/365) = $0.62). The benefit was $750 gross, $517.50 net (=$750*(1 – 24% federal – 7% state)).
Since my wife and I both did it, we netted $1,035 (=$517.50*2).
Pulling it off required about 2 hours of work/frustration. On a pre-tax basis, this amounted to $750/hr. Unlike credit card bonus chasing, this involved zero hard credit pulls. Unlike credit card stuff, this is taxable (bummer).
The fine print says the account must be opened by January 6, 2020 if you desire to follow suit (link).
Below is a screenshot of my transaction history to give you an idea on how the timing works.