Please do your own research and consult your own financial, tax, or legal professional for specific advice. (LAL terms and conditions apply). Morgan Stanley doesnt appear to offer any info regarding this on their website, so I recommend you contact them directly to see if an eligible eTrade account would make you eligible for the Morgan Stanley Platinum card. Uninvested funds are FDIC Insured up to $2.25 million. How to Earn Airline Miles While Sheltering in Place, We Called and Asked: These European & Middle East Airlines Are Retaining Status, By logging into your account, you agree to our. We offer scalable investment products, foster innovative solutions and provide actionable insights across sustainability issues. Third party cash management fees may apply. It will NOT be published. So if youre gonna pay for an American Express Platinum Card anyways, why not get it for $155 less a year? We live that commitment through long-lasting partnerships, community-based delivery and engaging our best assetMorgan Stanley employees. The current public offer is 80,000 points. Disclaimer: Any comments listed below are not from the bank advertiser, nor have they been reviewed or approved by them. You can also read up on the terms and conditions by accessing the Benefits section in your online account. At Morgan Stanley, we put our beliefs to work. 4.47%. For the purchase protection benefit of The Platinum Card from American Express, purchase protection is an embedded benefit of your card membership and requires no enrollment. 2There is no cost for this feature; however, interest charges may apply if funds are transferred from available margin in your Active Assets Account (AAA) or from your Liquidity Access Line (LAL). Could Choice Hotels take over Wyndham Hotels & Resorts? A Division of NBCUniversal. If you dont know much about Robo-investing, the simplest way to describe this type of investing is set it and forget it. You just pick how aggressive you want to be or the types of industries you want to invest in and they do the rest for you. Thats right. We want to hear from you. See our Advertiser Disclosure for more about our partners, how we make money, and our rating methodology. Morgan Stanley Wealth Management, a global leader, provides access to a wide range of products and services to individuals, businesses and institutions, including brokerage and investment advisory services, financial and wealth planning, cash management and lending products and services, annuities and insurance, retirement and trust services. The criteria are 1. Both cards earn Amex Membership Rewards points, which we value at 2.2 cents each, though its possible to get upwards of 10 cents per point of value with these points when booking travel through transfer partners. To avoid this monthly fee, you need to have: $5,000 recurring monthly deposit, AND; $25,000 average daily BDP balance, AND; Morgan Stanley Online enrollment, AND; Another qualified non-CashPlus Morgan . The information regarding The Platinum Card from American Express Exclusively for Morgan Stanley was independently collected by Upgraded Points and was not provided nor reviewed by the issuer. We value our commitment to diverse perspectives and a culture of inclusion across the firm. As a data point, I opened my account three months ago and Im currently sitting at a 4.04% return. 2020 American Express National Bank. Eligibility and benefit level varies by card. This insurance comes into play in the event of a bank failure and covers client cash up to a total of $250,000, per bank, for each insurable capacity (e.g. Checks must be drawn on a U.S. bank. Most of the benefits are shared between the Amex Platinum card and Amex Platinum card for Morgan Stanley. They receive personalized service and advice, exceptional value, enhanced protection and a digital-first experience, said Paul Halpern, Head of Deposits and Banking Services, Morgan Stanley Private Banking Group. Morgan Stanley American Express Platinum Card - Page 10 - FlyerTalk Forums American Express | Membership Rewards - Morgan Stanley American Express Platinum Card - Originally Posted by snowboardpunk I'm guessing they want you to talk to a financial advisor and get one of their advisors to invest your money? Upgraded Points, LLC uses reasonable efforts to maintain accurate information on the site and p. rior to applying for any credit card offers found on UpgradedPoints.com, all visitors should review other features of such credit cards including but not limited to interest rates, annual fees and transaction fees, and should determine the suitability of such credit cards considering their own individual financial position. The new accounts help clients with their cash management needs, according to a Morgan Stanley executive, and also enable financial advisors to give more comprehensive advice based on their clients' financial situation. The MS version has a 1cpp cash out rate, and a Plat AU for free. Morgan Stanley today announced the launch of CashPlus, a new brokerage account that offers clients a modern alternative to banking. Sign-up for our beta and join the fastest growing streaming community. by James DozerLast updated April 12, 2023, I recently opened a Morgan Stanley Platinum CashPlus account and I wanted to share some quick thoughts with you guys. Benefits of this account include unlimited ATM fee reimbursements around the world and access to debit card services. Got a confidential news tip? earn American Express Membership Rewards points, Fine Hotels & Resorts and The Hotel Collection, https://www.morganstanley.com/what-we-do/wealth-management/cashplus, The Amex Platinum Card - Full Review [2023], The Amex Business Platinum Card - Full Review [2023], Amex Schwab Platinum Card Invest With Rewards Rate Dropping to 1.1%, Amex Platinum Card: 3 New Digital Entertainment Options Added, Good to excellent credit, applications publicly available, Good to excellent credit, must have an eligible Morgan Stanley account open to apply, Receive up to $695 in an Annual Engagement Bonus for eligible Morgan Stanley Platinum CashPlus clients, Redeem your points through Invest with Rewards to an eligible Morgan Stanley Investment account (1 cent per point), Unlimited ATM fee rebates through a Morgan Stanley CashPlus account (which you can open to qualify for the Amex Platinum card for Morgan Stanley), Gift cards, statement credits, online shopping and merchandise, charitable donations, Elite-style benefits for eligible bookings through the Fine Hotels & Resorts and The Hotel Collection, Complimentary elite status with Hilton Honors, Marriott Bonvoy, Avis, Hertz, and National, Annual statement credits, including up to $200 prepaid hotel credits, up to $200 airline incidental credits, and up to $189 CLEAR Plus credits, Up to $100 Global Entry (every 4 years) or up to $85 TSA PreCheck (up to 4.5 years) application reimbursement, Annual statement credits, including up to $240 in digital entertainment credits, up to $100 in Saks Fifth Avenue credits, up to $200 in Uber Cash (terms apply), up to $155 in Walmart+ membership reimbursements, and up to $300 in Equinox membership credits, Purchase protection, extended warranty, return protection, Add up to 3 authorized users for $175 total, $175 for each authorized user after that, $0 for additional American Express Gold Cardauthorized users (, First authorized user is complimentary; $175 total for the next 3 authorized users; $175 for each authorized user after that, $0 for additional American Express Gold Cardauthorized users, Welcome offer after meeting minimum spending requirements, Redeem Membership Rewards points for deposits by Morgan Stanley to your qualifying brokerage account, Ability to access unlimited ATM fee rebates through a Morgan Stanley CashPlus account, Access automated investing with a world-class investment management firm, Qualify for the Amex Platinum card for Morgan Stanley, Earn 5x Membership Rewards points on flights booked directly with the airline or via Amex Travel (up to $500,000 in purchases every calendar year), Earn 5x Membership Rewards points on prepaid hotel stays booked through Amex Travel, $5,000 in total monthly deposits (or a Social Security deposit of any amount), $25,000 average daily cash balance in your Platinum CashPlus account, The ability to get VIP-like benefits when booking eligible stays at. Even in this day and age, thats a terrible return for parking $25,000 in their account. Visit americanexpress.com/benefitsguide for more details. Is Morgan Stanleys Platinum CashPlus worth it? Not all vehicle types or rentals are covered. Federal Deposit Insurance Corporation (FDIC) Cash balances swept into deposit accounts at participating banks in the Bank Deposit Program are protected by FDIC Insurance up to applicable FDIC limits. And the $$2500/$5000 monthly recurring deposit requirement is waived if any amount of Social Security benefits are deposited into your account. With the Morgan Stanley Debit Card, clients also get certain perks, including extended warranty and price protection. Today's professionals can help prevent it What advisors can do if they suspect a senior is being financially exploited These financial advisors are using social media to grow their business. The Morgan Stanley (MS) Platinum CashPlus [morganstanley.com] account offers a $550 (Update July 2021: Now $695) Annual Engagement Bonus to cover the entire annual fee of a Morgan Stanley Platinum Amex Card. I am still on the fence about this card. Good news for old folks. Additionally, clients will be able to access cash from banks or tellers that accept MasterCard. The CashPlus Account is a brokerage account offered through Morgan Stanley Smith Barney LLC. $0 per month. Just keep in mind that the welcome bonuses for the Amex Platinum card may be different from the welcome bonus offered on the Amex Platinum card for Morgan Stanley. As one of the foremost experts in credit cards, over the past 4 years, he has amassed, United Restarting Several Routes to Australia from LA & Houston, The 10 Best Boutique Hotels in Budapest, Hungary [2023], Amex Platinum Card vs. Amex Platinum Card for Morgan Stanley Overview, Additional Earnings Amex Platinum Card for Morgan Stanley, Additional Redemption Options Amex Platinum Card for Morgan Stanley, Additional Travel Benefit Amex Platinum Card for Morgan Stanley, For the car rental collision damage coverage benefit of The Platinum Card from American Express, car rental loss and damage insurance can provide coverage up to $75,000 for theft of or damage to most rental vehicles when you use your eligible card to reserve and pay for the entire eligible vehicle rental and decline the collision damage waiver or similar option offered by the commercial car rental company. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Disclaimer:Upgraded Points, LLC and its website, UpgradedPoints.com, provides information on credit cards, reward programs, travel information and ancillary information concerning travel and credit cards. Among the benefits for a Platinum CashPlus account is a $550 Platinum annual fee To avoid a monthly fee, Premier CashPlus requires either $2,500 in total monthly deposits or $25,000 in average daily balances. For information as to how Morgan Stanley will use your Card Account data please visithttps://www.morganstanley.com/wealth/investmentsolutions/pdfs/adv/mssb_privacynotice.pdf. Additionally,Exclusivelyfor eligiblePlatinumCashPlusClients: Enjoya $695Annual EngagementBonus 2 Morgan Stanley Amex Plat - I just closed the required MS CashPlus Acct. Platinum Cardholders also enjoy enhanced benefits as well as: CashPlus Accounts feature fee avoidance criteria8for clients who dont want to pay the monthly account fee. This is a Robo-investing account similar to Wealthfront or Betterment, which uses computers and sophisticated algorithms to buy/sell mutual funds and ETFs for you. Terms, conditions and limitations apply. Car rental loss or damage coverage is offered through American Express Travel Related Services Company, Inc. For the trip cancellation and interruption insurance coverage benefit of The Platinum Card from American Express, the maximum benefit amount for trip cancellation and interruption insurance is $10,000 per covered trip and $20,000 per eligible card per 12 consecutive month period. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. On paper, the Morgan Stanley CashPlus account looks pretty amazing but honestly, the biggest drawback for most people will be the interest rate. At least $5,000 in monthly deposits, 2. After that, the normal annual authorized user fees apply. Earn 125,000 Membership Rewards Points after you spend $6,000 on purchases on your new Card in your first 6 months of Card Membership. Great post. There are no foreign transaction or bank fees and all ATM fees charged by the individual ATMs will be automatically reimbursed as well. On the travel benefits side, Amex Platinum card for Morgan Stanley cardmembers with a Morgan Stanley CashPlus account also have the ability to access unlimited ATM fee reimbursements. The accounts, called CashPlus, replace the firm's existing cash management program. With this account, you can access your cash, anytime, anywhere where banks or tellers accept Mastercard. Account holders also have access to Morgan Stanley Cards from American Express. What are you insinuating, a ceasing of the amex AF benefit? Born and raised in Los Angeles, Stephen has been privileged to enjoy many premium cabin products and 5-star hotels. If I had to bet, Id say theyd just quietly not pay the bonus instead of flat out closing the account. Finder Rating: 3.4 / 5: . This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply. BANK DEPOSIT PROGRAM Idle cash balances in your Morgan Stanley CashPlus Account or Active Assets Account (including deposits . Another difference is that the Amex Platinum card for Morgan Stanley comes with the ability to earn a $695 annual engagement bonus when you also hold a qualifying cash management account, which is usually known as Platinum CashPlus. But if you cant, or need access to liquid cash, then it may be worth it for you. The accounts replace the firm's Premier Cash Management program. For more information, please refer to the CashPlus Account Disclosure Statement athttps://www.morganstanley.com/wealth-disclosures/cashplusaccountdisclosurestatement.pdf. Platinum CashPlus requires both $5,000 in total monthly deposits and $25,000 in average daily balances. Big Improvements Coming to Amex Platinum Card! Underwritten by AMEX Assurance Company. But if youre not able to meet the monthly requirements each month, then the $45/month fee would kick in. You can use any bank or ATM that accepts Mastercard to access your money for free. Seems like all good things come to an end with every merger. ANA Adds Two Anime-Inspired Aircraft to Fleet, After Storms Ground Flights, United CEO Blames FAA for Issues, Partnership Between Alaska, CLEAR Offers Mileage Plan Members Expedited Security Experience, United Adds Rebooking and Vouchers to Mobile App, Ace or Bogie? Visit americanexpress.com/, For rates and fees of The Platinum Card from American Express, click, For rates and fees of the American Express Gold Card, click. Both accounts waive the total monthly deposit thresholds in exchange for Social Security deposits of any amount. Morgan Stanley will pay only one annual engagement bonus per client. E*Trade Bank has now been fully integrated into Morgan Stanley Private Bank, so it's going to be interesting to see how things shake out now that MS shouldn't be in a position to need to fight for deposits anymore. The Morgan Stanley CashPlus is a Cash Management Account that is in some ways arguably better than the Charles Schwab High Yield Investor Checking Account. CashPlus, the next generation of cash management at Morgan Stanley, puts a clients cash activities front and center, while offering a wide range of benefits and a seamless digital experience. Since our founding in 1935, Morgan Stanley has consistently delivered first-class business in a first-class way. See our advertising policy here where we list advertisers that we work with, and how we make money. Both the Amex Platinum card and Amex Platinum card for Morgan Stanley have annual fees of $695. For starters, you need to have an eligible Morgan Stanley account open in order to apply for the Amex Platinum card for Morgan Stanley. Both account types also offer access to Morgan Stanley Cards from American Express, created exclusively for Morgan Stanley clients. At Morgan Stanley, youll find trusted colleagues, committed mentors and a culture that values diverse perspectives, individual intellect and cross-collaboration. 7$550 Annual Engagement Bonus for Platinum CashPlus accounts may be received if 1) you are the Basic Card Member of the Platinum Card from American Express Exclusively for Morgan Stanley (the Basic Card Member is defined as the primary account holder); or 2) if you spend at least $100,000 during the calendar year across Morgan Stanley Debit Cards associated with Platinum CashPlus Accounts in your ALG. Morgan Stanley Online uses features that may not be supported by your current browser and might not work as intended. Kick is the most rewarding gaming and livestreaming platform. However, I'm planning on getting out soon and would like to open a Platinum CashPlus account to receive the $695 annual engagement bonus. I currently have the Morgan Stanley American Express Platinum card. Giving you the best information on miles and points so you can take better trips and live better stories. For 87 years, weve had a passion for whats possible. Eligibility and benefit level varies by card. Optionally, if you also open a CashPlus Platinum account, deposit $25,000 and meet activity requirements, you become eligible for an Engagement Bonus which offsets the Platinum Card's annual fee. Email needed if you'd like comment updates. Editorial Disclosure:The content featured on UpgradedPoints.com has not been influenced, provided, or reviewed by the credit card companies mentioned. American Express | Membership Rewards - Morgan Stanley American Express Platinum Card (2012 - 2021) - Originally Posted by progapanda Morgan Stanley appears to have relaunched its Premier Cash Management Program as "CashPlus". I am very likely to get the AMEX Plat with Morgan Stanley as I'm able to attain the Platinum Cash Plus account via the minimum direct deposit qualification to get the card AF waived. The coverage is also subject to a $3,000 aggregate limit per covered trip. In other words, they don't want to do it, but they want you to think they will, and if too many people start doing it, they will just kill it. No such requirements exist for the Amex Platinum card since this card is available for public applications. No, Morgan Stanley is a financial services company offering primarily wealth management and investment management services and products. For the trip delay insurance benefits of The Platinum Card from American Express, up to $500 per covered trip that is delayed for more than 6 hours; and 2 claims per eligible card per 12 consecutive month period. - Wait a few days. Morgan Stanley offers two different versions of the CashPlus account: Premierand Platinum. Thats significantly less than the $695 annual engagement bonus you will get each year, which equals out to be 2.78%. If you can afford it, Morgan Stanleys Platinum CashPlus is actually a really good product that comes with some great perks but buyer-beware, there are some serious drawbacks to it, which may make it not worth it for the average person. Get this delivered to your inbox, and more info about our products and services. To be clear, you should not attempt a cash advance at an ATM using your Amex Platinum card for Morgan Stanley as this will incur cash advance fees. At Morgan Stanley, we focus the expertise of the entire firmour advice, data, strategies and insightson creating solutions for our clients, large and small. Both accounts offer comprehensive protections such as free extended warranty and price protection on purchases made with your debit card, insufficient funds coverage, SIPC/FIDC coverage, and Identity and Credit Protection provided by Experian, including monthly credit reports, real-time credit alerts, Vantage score and more. No responsibility will be taken by the bank advertiser for these comments. For the extended warranty benefit of The Platinum Card from American Express, when an American Express card member charges a covered purchase to an eligible card, extended warranty can provide up to one extra year added to the original manufacturers warranty. Just to clarify, to avoid the $55 monthly account fee you write: Specifically, youll need to have a Platinum CashPlus account, which has a monthly fee of $55, unless you meet either of these criteria: $5,000 in total monthly deposits (or a Social Security deposit of any amount) $25,000 average daily cash balance in your Platinum CashPlus account, I hope you are right! But I keep reading and looking for a reason to jump in. Programs: World of Hyatt, Marriott Bonvoy, Hilton Honors, UA Mileage Plus. It can help protect covered purchases made on your eligible card when theyre accidentally damaged, stolen, or lost, for up to 90 days from the covered purchase date. While placing at Morgan Stanley BDP it is virtually $0 and they give you back $695. I feel like they didnt know what they were doing and each time I called, I got a different answer. Instead, when you need to withdraw money from an ATM, use your Morgan Stanley CashPlus debit card. In addition to the monthly credit report and Vantage scores, I can lock and unlock my Experian credit report whenever I want. However, there are a few distinct areas where the Amex Platinum card for Morgan Stanley offers incremental benefits over the Amex Platinum card; the main drawback, though, is that qualifying for the Amex Platinum card for Morgan Stanley is significantly harder. The Platinum account will provide you with four different Experian enrollments whereas the Premier account will only provide you with two. That being said, there are a few differences that are worth noting between the 2 products. dismiss. To be eligible for the AMEX Platinum $695 engagement bonus, we need to open a Morgan Stanley Platinum CashPlus Account. Things like Zelle and regular ACH transfers will count. How long until Amex is notified and they close the Amex Platinum card? The easiest way to get an eligible Morgan Stanley account is to open a Morgan Stanley Access Investing account, which has a minimum investment amount of $5,000, plus an annual asset-based advisory fee of 0.30%.
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morgan stanley cashplus platinum
