The Offer
M1 Finance Brokerage is offering a bonus of up to $1,500 when you set up recurring ACH deposits:
Set up recurring deposits to any of your M1 investment accounts by May 24, 2023 (feel free to split them up between your different accounts—brokerage accounts, retirement accounts and IRAs are all eligible). You can set whatever schedule you want: weekly, biweekly or monthly.
If you complete at least 6 new monthly recurring deposits totaling at least $15,000 across your investment accounts, you’ll earn a bonus of up to $1,500.
Our Verdict
I believe this offer is publicly available for all existing or new M1 customers. This isn’t the best bonus in the world, but for someone interested in using the M1 pie system this can be a way of earning some extra. This is different than most typical brokerage bonuses in that it’s only for recurring ACH deposits; it doesn’t work for transferring over securities from another brokerage. (M1 has a separate bonus for that.)
Separately, there’s a $75-$500 bonus for new customers who deposit up to $100,000 within two weeks of opening. Perhaps this can stack with this other recurring deposit bonus.
Hat tip to reader M. and T.