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† $100 Transfer in Bonus: ShareBuilder will deposit a $100 bonus into your account after completing a full brokerage transfer of $500 or more from a competing broker to ShareBuilder. The $100 bonus offer is available for Individual, Joint and Custodial accounts only. Offer not valid for IRA or Education Savings Accounts. The $100 bonus will post to your account approximately 4-6 weeks after completing a full brokerage transfer from a competing broker and is not available for withdrawal for 180 days. This offer is not valid with any other offers and is non-transferrable. Limit one ShareBuilder promotional award per unique customer or custodial beneficiary. ShareBuilder reserves the right to terminate this offer at any time and to refuse or recover any promotion award if ShareBuilder determines that it was obtained under wrongful or fraudulent circumstances, that inaccurate or incomplete information was provided in opening the account, or that any terms or ShareBuilder’s Account Agreement has been violated.
Message edited by: kenblakely on 2009-10-26 10:17:51 CDT
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.
Message edited by: mlayu on 2009-09-26 01:53:07 CDT
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.
couponhed said:Is there a deadline on this? Sharebuilder requires a statement, which could take up to a month to generate.
Best bet is to call Sharebuilder. Why does it take so long to get a statement? If you have an account with Scottrade, you should be able to print it out.
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.
I see this sentence in the T&C: "ShareBuilder will deposit a $100 bonus into your account after completing a full brokerage transfer of $500 or more from a competing broker"
Does "full brokerage transfer" mean I gotta Xsfer the entirety of what's in my brokerage account from the losing institution? I can't see the form without opening / having a SB account....
Any help welcome. I'd like to jump on this $100, but if I gotta move my entire brokerage account, I'll need to do it a different way....
gw999: Thanx much for the answer below....
Message edited by: kenblakely on 2009-10-26 11:03:15 CDT
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.
Message edited by: gw999 on 2009-10-26 10:40:10 CDT
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Are there any brokerage (or direct-at-fund) accounts that can be opened that: 1) Do not charge an account closure fee and 2) Do not hard pull a credit report ?
Message edited by: gw999 on 2009-10-28 22:33:14 CDT
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