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$100 for transfering account to sharebuilder

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cli168
9/25/09 1:02 PM
$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
WikiPost
9/25/09 1:02 PM
† $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.

Outgoing ACAT fees by broker
■E*Trade: $60
■Fidelity: $50
■Charles Schwab: $50
■TradeKing: $50
■TD Ameritrade: $75
■Muriel Siebert: $50 (retirement accounts only)
■Scottrade: $0
■Firstrade: $50
■OptionsXpress: $50
■Banc of America: $75
■Just2Trade: $75
■WellsTrade: $75
■Sharebuilder: $50
■WallStreet*E: $150
■Zecco Trading: $60
■SogoTrade: $75
mlayu
9/25/09 11:26 PM
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.
slavik
9/25/09 11:52 PM
quick question, if i have stocks in scottrade and i transfer, can it transfer my stocks, or would I have to sell/rebuy?
EggplantWizard
9/26/09 12:03 AM
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.
johnnybs
9/26/09 2:47 AM
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.
sympleman1
9/26/09 12:09 PM
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).
drosenth613
9/27/09 11:09 AM
hey sympleman1 , please let us know if the 500 has to be in stocks or cash...this looks pretty cool.
ThePessimist
9/27/09 12:11 PM
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.
mlayu
9/29/09 1:42 PM
Does anyone know if Sharebuilder do hard pull? According to a post in this thread back in 2006, Sharebuilder does not do hard pull.

By the way, if anyone wants to open a Scottrade account, PM me for a code for 3 free trades.
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