Does Sharebuilder's fee puts u off?

[luvya]

I know it's $4 a transaction, but look at this page here. The two things that got me attention is the $50 charge if you want to transffer all of your asset in sharebuilder to another broker, and the $30 fee if you want to cash in. Unless I am reading this wrong, this is rip-off!

 

[luvya]

no love here?

 

[zimu]

luvya, yes, it is a complete rip off.
maybe if you fix your link you'll get more replies

 

[luvya]

Link fixed!

 

[Taggart]

The $50 transfer fee is pretty standard, $30 to liquidate your account might be weird, but if your account is thousands of dollars is that really a big deal? The fees are designed to discourage withdrawals.

 

[Bryophyte]

There are no fees to transfer money to your linked bank account. Any bank will charge you thirty bucks to WIRE it, go ask the teller at your bank. The fifty dollar transfer fee is standard as well because they, like many brokerages, hold the securities for you in their name. The process of transfering possession of securities is much more complicated than withdrawing money from the ATM or closing a checking account.

They charge you money for things that require human intervention, basically. Things that cost them nothing in labor are mostly free, like electronic transfers of cash into and out of your Sharebuilder account/linked checking/savings account.

<a target=_blank class=ftalternatingbarlinklarge href="https://www.sharebuilder.com/sharebuilder/Service/Fees.asp">https://www.sharebuilder.co......r/Service/Fees.asp</a>


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Checking/Savings debit transfer Automatic transfer of funds from a checking or savings account No charge

Electronic Funds Withdrawal Electronic delivery of funds from a ShareBuilder Account to your checking or savings account No charge

Dividend reinvestment Reinvest dividends paid by securities No charge

Account transfer in Transfer from another broker to a ShareBuilder Account No charge

Full account transfer out Transfers of all assets in a ShareBuilder Account to another firm $50.00

Partial transfer out Partial transfers of assets in a ShareBuilder Account to another firm $10.00 per security ($50.00 maximum)

Funds wired in Wire of funds into a ShareBuilder Account No charge

Funds wired out Funds wired to you from a ShareBuilder Account $30.00

Check request A check for funds mailed to you from a ShareBuilder Account $5.00

Stock certificate request Mailing of physical stock certificate(s) to the name and address on a ShareBuilder Account $30.00

Stock certificate re-registration On your instruction, we change the registered name on a physical stock certificate to the name other than the one on your ShareBuilder Account (includes gifts, estates, etc.) $30.00

Stop payment of check Stopping of and resending of a check from ShareBuilder, per your instruction, originally sent to the name and address on your ShareBuilder Account $25.00

Express delivery By request, we send a document via overnight courier $25.00

 

[Garuda]

There are no fees to transfer money to your linked bank account. Any bank will charge you thirty bucks to WIRE it, go ask the teller at your bank.

What's the difference?

 

[JetsFanatic]

Electronic Funds Withdrawal

Electronic delivery of funds from a ShareBuilder Account to your checking or savings account

No charge

 

[luvya]

I am start wondering what's the difference between the two? Electronics funds withrawal and Funds wired out......aren't they both electronic processes?

 

[luvya]

anyone?

 

[Bryophyte]

Electronic funds transfer: think of this as being like online Billpay or paying a bill online by going to the website of your creditor and linking a bank account so that you can initiate a payment. They don't have to do anything, happens automatically, sort of like using your debit card. Wire transfer: think Western Union type of interactions, you have to give them a bunch of information about the bank you want money sent to and someone has to manually initiate the transfer. I'm pretty sure it goes through an intermediary, maybe some government entity. Good for when you want a major paper trail of the money, or want it immediately, or when you have a non-standard account that does not allow you to set up an automatic electronic payment. It's a pain for them to process, so they charge you for it. They might also be passing on a fee from the intermediary, not sure.