$100 for transfering account to sharebuilder

$100 for transfering account to sharebuilder:
http://content.sharebuilder.com/mgdcon/jump/consumer/transfer/in...

but watch out for exit fee from your old account. td has $75

Open an account at Scottrade with $500. Transfer account from Scottrade to Sharebuilder. No cost to close/transfer from Scottrade. $100 profit.

If you don't have an account, you can first open an account at Sharebuilder first through Costco link to get $60 bonus for Executive and $55 bonus for regular Costco member. I'm not sure if these can be combined, but I don't see any restriction.

mlayu said: Open an account at Scottrade with $500. Transfer account from Scottrade to Sharebuilder. No cost to close/transfer from Scottrade. $100 profit.

If you don't have an account, you can first open an account at Sharebuilder first through Costco link http://content.sharebuilder.com/mgdcon/jump/partner/costco/lpb20... to get $60 bonus for Executive and $55 bonus for regular Costco member. I'm not sure if these can be combined, but I don't see any restriction.

There is a small cost to this approach, one hard credit pull from scottrade.

I think this is a good deal--and will likely call Sharebuilder to make sure that the $500 doesn't necessarily have to be in stocks, but rather can be a combination of stocks and cash--but remember, too, that Sharebuilder charges $75 if/when you close your account. Not a deal killer; just something to be on the look-out for in the long run (and the $100 bonus needs to stay in the account for 180 days).

sympleman1 said: ...but remember, too, that Sharebuilder charges $75 if/when you close your account.
Are you sure about that? I've never heard of a brokerage charging to close an account. I see that they charge $75 to transfer an account out (via ACATS), but there's no reason to do that if your account is all in cash. Just ACH all the money out and then tell them to close it.

Is there a deadline on this? Sharebuilder requires a statement, which could take up to a month to generate.

EggplantWizard said: mlayu said: Open an account at Scottrade with $500. Transfer account from Scottrade to Sharebuilder. No cost to close/transfer from Scottrade. $100 profit.

If you don't have an account, you can first open an account at Sharebuilder first through Costco link http://content.sharebuilder.com/mgdcon/jump/partner/costco/lpb20... to get $60 bonus for Executive and $55 bonus for regular Costco member. I'm not sure if these can be combined, but I don't see any restriction.

There is a small cost to this approach, one hard credit pull from scottrade.

I did the $500 OptionsXpress full account transfer offer using Scottrade, and they were a major PITA requiring phone contact where they insistently tried to keep the account, and when told I wanted the transfer done somehow managed to forget all about it and I had to suffer the same nonsense again. I've got a couple of IRAs at Scottrade so maybe they thought I was getting ready to pull my money, and won't be so obtuse if you just open an account to transfer.

TDSAX said: Has anybody confimed if this can be in cash or does it have to be stocks?

Cash OK according yo Sharebuilder CSR.

I looked into this but opted against doing it due to the closure fee with my current brokerage.

Does "full brokerage transfer" mean I gotta Xsfer the entirety of what's in my brokerage account from the losing institution?
Yes, it has to be the entire account being closed and transferred to ShareBuilder.

Does anyone know if Sharebuilder do hard pull?
According to a CSR last week, no hard pull unless you're opening a margin account. I opened an account last week and can confirm no hard pull occurred.

However, I think , you loose the cost basis information though,. Make sure you have record of all your buys before closing the account though

johnnybs said: slavik said: quick question, if i have stocks in scottrade and i transfer, can it transfer my stocks, or would I have to sell/rebuy?

The stocks will transfer. You won't have to sell and rebuy.

gw999 said: I looked into this but opted against doing it due to the closure fee with my current brokerage.

Does "full brokerage transfer" mean I gotta Xsfer the entirety of what's in my brokerage account from the losing institution?
Yes, it has to be the entire account being closed and transferred to ShareBuilder.




I know you have to transfer all assets to Sharebuilder but I don't see anything that says the other account has to be closed.

Anyone getting this error?

are current SB account holders eligible? what brokerages don't charge account transfer fees?

SegaRob said: are current SB account holders eligible? what brokerages don't charge account transfer fees?

SB charges $50 for outgoing ACAT. Schwab also charges $50. Scottrade none.