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If I transfer IRA assets out of ETrade they charge me for that. How about ShareBuilder? Do they charge if I move IRA assets out after 9 months?

Beware the do not accept asset transfers that include individual bonds. Only stocks, mutual funds, and cash.

As for IRAs, the bonus payment is coded as REWARD not contribution.

kickerstarter said:   First of all, you don't have to put in $100K. The max gain is $75 for $10K. Which is 0.75% or close to 1% APY. And then, you can invest your money instead of letting it sit. This works if you plan on investing the amount anyway. The bonus is the extra sharebuilder give you. Think of it as special dividend.

However, ProfessorEd mentioned people who originally openned their account with promotion may not qualify. I am very skeptical about this because the T&C did not say otherwise. And the system took the promo code 1deposit500 without any issue. I would think it is an misinformed rep's personal opinion.


You may be right. If they deposit the bonus as quickly as they did on the $200 for $10,000 offer (within a few days) some one may be able to try it and find out quickly (although even then it may not be certain, since they might take the funds back).

I still have a bad taste from investing $10,000 with them in a joint account with my wife. They took the $10,000, invested it, and then discovered an apparent error in her birth date (which they will not reveal what it is due to client privacy concerns. I just got back from getting a notary on the form correcting it which has been faxed to them, along with a copy of my wife's driver's license. They may refuse to correct the problem if the form is not filled in right, which it could be since we could not answer the question about what the original birth date was, that we are correcting (to protect client's privacy they refuse to reveal that to account holders). both my wife and I had opened accounts several years ago, so we were not unknown's to them. , but perhaps some one else can.

Just an FYI, I logged in this evening and Sharebuilder posted my 1099. This morning it was not posted. 3 days before their deadline.

ProfessorEd said:   In a phone call to confirm eligibility (see below),I learned more.

The representative said in any case I could not have added funds because the account was restricted from adding funds, trading, or withdrawing funds. My wife's date of birth was wrong. It is correctable, but it is a form that requires proof of the correct date, and then notarization or a medallion signature. They had warned of the problem by a message to the messages but there is no warning if you just look at the account. I confirmed the restriction by stating the withdrawal process, and then a message shows up.

On her account data, for date of birth it just shows as "on file." and a correct button. On casual inspection there appears to be no problem here. If you click the correct button, up pops the form to be notarized.

The form requested both the date on file and the correct date, but for security reasons they will not reveal the date on file. The phone representative said the form would be processed if you wrote unknown.

Some may want to check their own accounts to be sure there is no problem of this type, since if you needed the money badly, having to deal with this problem would delay you, since it requires a trip to a bank or a notary, and apparently both owners signature and guarantee, even if only one is being corrected.

I do not know how they discovered an error in her date of birth (possibly by comparison with older accounts), but it would have been nice if it had been detected earlier. It might have been mentioned in the E-mail saying the account had been opened, or that you had qualified for the bonus (which has been credited). I suspected that is when the processing was done that showed an error.

Ideally they would decline to open accounts when they know there is an error in the data. In some cases, it might be possible then to do a new application that had no errors, without involving a notary. However, possibly older (inactive accounts) would need correcting. However, at least some potential customers might decline to go ahead if they realized that notarized corrections to the data on file from an earlier account was needed.


Update on how they froze accounts on customers since 2008 at least after they took our $10,000 and then claimed to find an error in her birth date.

After several phone calls we fund a bank that had a notary we could use at a feasible time, and after a wait, we got their birth date correction form notarized.

Later, after the notarized forms were faxed in they reported they could not read the birth date (suggesting enlarging).
With work I did discover how to enlarge the license number, and they did unfreeze the account.

After over a month, it appears the account can be used.


However, the $ 200 bonus had not been invested due to the freeze (and would have been invested under the automatic plan I had been in).


This is really bad treatment of a couple who had been customers since at least 2008. the know your customer rules could have been satisfied by noticing the long term business relationship, and that we were still had the original address and phone number, and there was no apparent problem with at least one customer, myself. a error in a birth date for a known customer is not a good reason to doing what they did for two long standing customers.


The goal of preventing money laundering was accomplished by preventing withdrawals. Preventing trades in the account just hurt their clients for no reason.

Now that I can access my account again, has anyone who had previously received a bonus tried to get the bonus for putting more money in.

Since they seem very fast in depositing bonuses, some one may have had a bonus credited already.

Am curious whether someone who opened an account for a bonus has received the additional bonus for adding money. or anyone has received any bonus from this promotion, and if so, how quick they were. If they are quick enough, it may pay to just put money into the account and see if you get a bonus. If not you take it out again.

If it works, it is a fairly generous reward (which is on top of whatever your investments earn).

ProfessorEd said:   Am curious whether someone who opened an account for a bonus has received the additional bonus for adding money. or anyone has received any bonus from this promotion, and if so, how quick they were. If they are quick enough, it may pay to just put money into the account and see if you get a bonus. If not you take it out again.

If it works, it is a fairly generous reward (which is on top of whatever your investments earn).


Did you give it a try?

Promo code must be entered by February 28, 2013

dead

AugustFour said:   These rates are not very attractive:

((75/10000)/9)*12=1%

((150/25000)/9)*12=0.8%

((250/50000)/9)*12=0.67%

((500/100000)/9)*12=0.67%


Sharebuilder has an offer that is no longer advertised, but I confirmed via online chat AND phone call is still valid, deposit $10K and get a $200 bonus.
This is a 2% ROI for the first year. Considering what CDs and MMAs are paying, might be worth considering for a short term move.

Use promo code 200BPT.

Received my deposit bonus without issue even though I opened my account with promo.



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