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$200 Bonus at ShareBuilder for New Brokerage Account

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ING DIRECT

Update 12/6/2012: ShareBuilder has another $200 bonus. This new one has the promo code 200BPT. Initial deposit must be completed by 12/31/2012. The promo is at this ShareBuilder page. This was listed as an ad on Google so it doesn't appear to be targeted.

This isn't a bank bonus, but it's an easy bonus if you have $10,000 in savings. ING DIRECT's investing unit, ShareBuilder, is offering a $200 bonus for opening a new ShareBuilder account (non-IRA) with a $10,000 minimum deposit by 6/30/2012. The offer is listed at this ShareBuilder promotion page, and the promo code is JUNE200. Thanks to DA member CTM who posted on this deal in this DA forum thread.

ShareBuilder is an online broker, but you don't have to invest your deposit in stocks. You can have your sweep account be the FDIC-insured cash balance account. So your initial deposit can sit in this account. This sweep account is intended to be used to hold your cash between trades. You can also invest in mutual funds with no transaction fees. These include conservative bond funds. So if you had considered exploring investments outside of bank accounts, this is an opportunity.

Below is the small print of the promotion:

You must open a new ShareBuilder account and deposit $10,000 or more to be eligible for this promotion. Initial deposit must be completed by 6/30/12. ING DIRECT Investing will deposit a $200 bonus approximately 4-6 weeks after your first $10,000 deposit. The $200 bonus offer is available for Individual, Joint and Custodial accounts only. Offer not valid for IRAs or ESAs. The $200 bonus is not available for withdrawal for 120 days after it is awarded to your account. This offer is not valid with any other offers and is non-transferrable. Limit one ShareBuilder account bonus per unique customer or custodial beneficiary. We reserve the right to terminate this offer at any time and to refuse or recover any promotion award if we determine that it was obtained under wrongful or fraudulent circumstances, that inaccurate or incomplete information was provided in opening the account, or that any terms of our Account Agreement have been violated. Offer expires 6/30/12.

Another $100 Bonus

There's also a $100 bonus for completing a full brokerage transfer of $500 or more from a competing broker to ShareBuilder. This offer is listed at this ShareBuilder promo page. The promo code is TRADEUP100.

You might be able to get both bonuses, but this may be a "your miles may vary" situation. The small print does say "not valid with any other offers" and "limit one ShareBuilder account bonus per unique customer." However, since the $200 bonus is for opening an account and the $100 bonus is for completing a full brokerage transfer, it may be possible to get the $200 bonus first and then the $100 bonus later.

ING DIRECT's Upcoming Independence Day Sale

Another thing to consider is that there may be a better bonus next month for ING DIRECT's Independence Day Sale. I confirmed that ING DIRECT will again be having a Fourth of July special. I have not received any info on what the deals will be. Last year there was a $76 ShareBuilder new-account bonus. That's not even close to $200, so you may be better off by not waiting.

ShareBuilder Overview

As I mentioned above, ShareBuilder is the investing unit of ING DIRECT. ShareBuilder was included in Capital One's acquisition, so ShareBuilder is now part of Capital One. On June 2011, ING DIRECT's parent company, ING Group, agreed to sell ING DIRECT USA as part of a restructuring agreement with the European Commission. On February 2012, ING DIRECT and ShareBuilder were officially bought by Capital One.

Other Bonuses

We have a bank promotions page with a table of all of the active bank and credit union promotions. You can filter the table based on the type of promotion and based on your state. I have more details about how to use this page in this blog post.

You can view my latest bank bonus blog posts in this bank bonus page. I and DepositAccounts.com readers often post on bonuses in the checking account deals forum. You can sometimes find bonuses at brokerages in the investments forum.

  Tags: ING DIRECT

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Comments
14 comments.
Comment #1 by Anonymous posted on
Anonymous
how long do I have to keep the 10K balance in that ING account?

after getting the $200, when can i close that account?

1
Comment #2 by RIFSLAW (anonymous) posted on
RIFSLAW
The offer states: "The $200 bonus is not available for withdrawal for 120 days after it is awarded to your account" so that likely answers Anon 1's question.

1
Comment #3 by Buddtaoist posted on
Buddtaoist
Be Careful of this on ING DIRECT: "We reserve the right ...... to refuse or recover any promotion award if we determine that it was obtained under wrongful or fraudulent circumstances, that inaccurate or incomplete information was provided in opening the account, or that any terms of our Account Agreement have been violated." What is the criteria? 

2
Comment #4 by Anonymous posted on
Anonymous
I have talked today (June 14, 2012) to a promotion specialist in Sharebuilder.  According to his manager, the $200 bonus is available only to people who receive promo code JUNE200 by email from Sharebuilder.

Also, the $100 bonus for completing a full brokerage transfer is available to anyone.  However, it basically pays for an outbound full brokerage transfer which could cost typically $60-$75 and is therefore worth, in reality, no more than $40.

 

2
Comment #5 by Anonymous posted on
Anonymous
ING Direct in the past hasn't offered POD accounts. Do you know whether POD accounts would apply to the account you've described (if not, it's a big negative for me).

1
Comment #7 by Anonymous posted on
Anonymous
If you already have 1 ShareBuilder account that was opened and still opened since a December 2011 promo bonus, can you still open a new account and get this JUNE200 promo bonus?? It's unclear how they perceive "Limit one ShareBuilder account bonus per unique customer or custodial beneficiary. We reserve the right to terminate this offer at any time and to refuse or recover any promotion award if we determine that it was ...,or that any terms of our Account Agreement have been violated."

1
Comment #8 by Anonymous posted on
Anonymous
To Anonymous - #7

If you already have an account, you don't qualify for this bonus.




3
Comment #9 by Anonymous posted on
Anonymous
To Anonymous - #8
The correct description should be "If you've already received an account BONUS, you don't qualify for this bonus.". If you opened one without bonus, then surely you are still qualified. Yes, few people may be in this situation. But the key is not how many account, but whether you have ever got any bonus no matter the amount.

To all,

This offer looks like targeted. I confirmed with two online CSR. While you can say those CSRs may know nothing, just at least keep in mind this offer is YMMV.

1
Comment #10 by Anonymous posted on
Anonymous
signed up 6/14, and received $200 6/18

now the question is when I can transfer the $10k out

3
Comment #11 by ctgottapee posted on
ctgottapee
I was able to score this bonus even without a targeted email

I did open a new browser, log in to my ing direct savings account, and then paste the link from there, so maybe the sharebuilder site saw the friendly ing cookies and referral link.
You'll get an acceptance email for your promo code after you sign up, along with a congrats for signing up email.

2
Comment #12 by ingdollars.wordpress.com (anonymous) posted on
ingdollars.wordpress.com
You can score a bonus without a target email by having a friend who has an accoutn at ING Direct refer you or you can use links that people offer. Visit ingdollars.wordpress.com for links

1
Comment #13 by Anonymous posted on
Anonymous
How much do you have to have to start an account with sharebuilder?

1