11 comments

Do not use this company!I wired a substantial sum of money to my wife's checking account for some unexpected (by me at least) expenses this morning at 9:00 am.

The Sharebuilder website states that the funds will post the same day. This evening at 4:00 pm I logged onto my account only to discover that the wire transfer had been arbitrarily changed to an ACH (electronic funds transfer) and to the WRONG bank. I called their Customer disService and spoke w/ a legalistic prig who informed me that:Sharebuilder reserves the right to transfer the funds back to the account from which I originally funded my trades, i.e. ING Direct Orange Savings.

So,they canceled my wire transfer without informing me and instead transferred (ACH, allegedly next day) my money to themselves (ING Direct owns Sharebuilder)- to an account for which I do not have a debit card. Withdrawing money from the savings account would entail another electronic transfer to Bank of America, the original destination. This takes up to FIVE business days. Therefore, it takes a week to retrieve cash from my Sharebuilder MMA (longer if you have ANY unfinished trades).

Is making an extra week's worth of interest on my money worth losing my business to Sharebuilder? Apparently so... This Marine is taking his business elsewhere.

Shame on you Arkadi Kuhlmann (CEO) for your company's dishonest, unethical, and otherwise deceptive business practices!

Monetary Loss: $2500.

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Anonymous
#764711

Sharebuilder is now owned by Capital One.Capital One seems to be doing whatever it takes to keep money in the accounts.

Policies will be made up on the fly. Your account can be closed at any time for any reason.

These people can't be trusted.

Call customer service and they'll provide you with a long list of things that cannot do.Short list on the things they can do.

Anonymous
#484658

I.N.G./WEB SITE WONT EVEN OPEN///TIME OUTS!!!!IS THIS PLACE EVEN STILL HERE?yOU CAN NOT LOG ON TO REMOVE ACCOUNT!!!!

Anonymous
#379482

I have a monthly deposit go from my savings account to my sharebuilder account. It goes the first Monday of the month and funds are available the next day for purchasing equities.

ING Sharebuilder is by far the best place I have found for long term investing by dollar cost averaging.

I pay the $12 a month for the 12 free automatic trades and buy 3 stocks every Tuesday like clockwork.

The $1 trade costs make it the same investment costs on $200 ING transactions as the $4.50 trade costs at Zecco for $1000 transactions. Perfect for those of us who want to put aside a little every month, and the purchasing of fractional shares makes it possible to DCA.

Anonymous
#118249

:zzz I am wondering if folks are paying attention or not.I see all these things about transfers held up and such, typos happen.

I have been using Sharebuilder for few years now and I have NEVER experienced any problems outside of what times are specifically listed.Keep in mind it is NOT really aimed at day trading - but more long term investing.

Anonymous
#114378

With all the fee's involved, they are not as cheap as they seem to be. Kind of makes me think of different banks and credit cards when they use peoples ignorance of apr and apy and when they compound to make you think you're making more, or paying less than you really end up.

Been hearing many complains about sharebuilder. Set up an account, but doubt i'll ever use it at this point.

Anonymous
#112032

Sharebuilder is the least expensive way to

purchase common stock whereby you only need

buy fractions of one share like a fraction

of KO and not wait to by into KO until you

have th $55. necessary to buy one share.

Sharebuilder allows you to chose from about

5,000 companies listed on the NYSE and NAS

I would use sharebuilder Only for long term

common stock investing and EFTs not for

day traders at all. Sharebuilder is a type

of long term savings that you commit a small

amount of money into a common stock you

like After you have researched that company.

Sharebuilder is not a savings or checking

account and should not be used as such.

If you must sell some of your sharebuilder

stock it will take several days for your

stock to go through the selling process and

then transfering to your bank account.

Sharebuild is the only way small or modest

incomes can really invest in the stock market-low expenses,6 free trades per month,

$4.00 per trade vs $8. and up with other

companies.

The beauty of sharebuilder is you get your

feet wet in what the stock market is with

very little risk and the ability to buy

fractions of a share or EFT ($4. or more)

per transaction.

If you have $25. per month to save then

by 1/2 share of Coke,CAT or 1/3share...

EXXON or Bershire Hathaway class B!

Over time these companies have a much higher

return on your investment that regular

bank savings account,CDs ect..

At this time there is no competion to

sharebuiler mainly because sharebuilder is

not for stock traders and fast money traders

Just the opposite!

I believe other stock trading companies will

soon created thier own sharebuilder type

of option for investors who underestand how

to save money and want the higher rate of

return-especially after the stock market

crash of Sept. 2008.

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Anonymous
#101905

I've had the same problems with Fidelity. Have a feeling they are all pretty much the same.

Anonymous
#87482

I transfered in a sum of money and they they put a hold on my account, it has been 20 days and they refuse to lift the hold.They claim that the bank did not verify, but the bank USAA has verified and has provided proof.

I have contacted the SEC, and I will transfer my account when they lift the hold.I have lost over 6,798.00 because I have been unable to invest.

Anonymous
#80603

I can assure all here that 99% of the time, it is USER ERROR on these instances.People are in too much of a hurry to actually read the instructions or disclaimers on an online service product and when the action or service is not provided how they assume it will, the company is automatically blamed.

I admit that at times the site could be confusing but it is also designed for a specific niche market of investors and for those not wanting or needing to do "real time" trading or moving of funds. The options to do so are there but as the company and site is not intended for such as its main focus, those who are looking for that should seek services elsewhere.

And therefore may be the reason why they feel they receive an "indifferent" response.But I can GUARANTEE that SB does the utmost in customer care and trains daily on their services and standards.

Anonymous
#46879

:( I had just opened up an account and bought just a few shares.I wanted to see if my credit union was right in recommending SB.

They did not fund the whole trade with the dubious electronic debit completed several days later. I was 15 cents short.

Now the are threatening liquidation of my assets to cover the shortage and I guess they will be charging me a transaction fee.Sent them a nasty e-mail, but they were indifferent.

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