[This post is written and copyrighted by FIRE Finance (http://firefinance.blogspot.com).]
In March 2006 we had done a post on a Costco deal from Sharebuilder. By the time we got ready to open an account with Sharebuilder as Costco members, the $85 Costco deal had expired !! So we asked one of our friends to refer us to Sharebuilder which entitled us to get a bonus of $55. As soon as we got the referral we went ahead and opened a brokerage account at Sharebuilder. The $55 Costco deal is discussed here.
The account opening process was pretty simple and could be done completely online. We did not have to send any paper documents to Sharebuilder. We however had to enter a promotion code and within half-an-hour of our application we received an email from Sharebuilder notifying us that our promotion code had been accepted. Also, we could transfer the money (required for trading) online, using an ACH transfer, during the a/c opening process itself. Within a week the money was available for trading and we placed an order for our first trade immediately. One of the greatest advantages of using Sharebuilder is that their entire process is automated and we did not have to email or talk with Sharebuilder's customer service to follow up on our referral bonus. The time line below shows how fast Sharebuilder has been in giving us the bonus :
- 05/11/2006 - DEPOSIT $55 COSTCO PROMOTION $55.00
- 04/11/2006 - BUY ORDER POSTING ($5.00)
- 04/04/2006 - ACH DEPOSIT - ONE-TIME $5.00
This was a pretty neat way of earning a $55 bonus and our friend received credits for five free trades at Sharebuilder. If you need a referral for opening an account at Sharebuilder, the details are discussed in this post our ours.