How to Close a Sharebuilder Account

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ShareBuilderAs I mentioned in my post about the Sharebuilder five free trades promotion code, I recently sold a small position in IYT in my Sharebuilder account. I opened it because I was taking advantage of a $50 Sharebuilder promotion code and not the account just another one of the million I’ve been closing recently.

Fortunately, Sharebuilder is part of ING Direct and ING Direct is easily the king of online banking when it comes to interfaces. Closing a sharebuilder account is really simple, just log in, click on the Account Profile tab:
Sharebuilder Account Profile Tab

Then scroll down to Account Preferences and click on “Close this account.”
Sharebuilder Account Preferences

When click the link, you’re asked to provide a reason along with links to counter them. I chose the second option – “I need to use money in my ShareBuilder account to pay bills or make a purchase” since it was most accurate. From here they give you a checklist of things you need to do before you can close your account:
Close Account Checklist

Once you complete the checklist, and all the boxes are now orange checkmarks, clicking Next brings you to this final page with a “Close account” button.
Close Account Verification

After that, you’re done! When I closed my E*Trade account, they closed the brokerage account but left my username active for 30 days. This was so I could collect any outstanding dividends or other transfers I may have forgotten about. Sharebuilder does something similar, except the username will be active, theoretically, forever. Statements will be generated if any dividends are posted, which is a nice feature because it means I won’t need to periodically check the account.

Finances are so easy to complicate but with Sharebuilder, simplifying was almost as easy! 🙂

{ 5 comments, please add your thoughts now! }

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5 Responses to “How to Close a Sharebuilder Account”

  1. I assume that means you sold your holdings first. Did you withdraw the money prior to starting that process?

    I am looking at closing one of my Sharebuilder accounts (just to combine them), and was a little unsure about those final steps.

  2. eric says:

    Timely. I opened a SB account for the promotion too and I’m toying with the idea of leaving it open or closing it (if I ever get around to it). Thanks for detailing the process.

  3. zapeta says:

    They make the process easy. I cashed in a couple promotional codes but I may eventually close my accounts.

  4. jsbrendog says:

    i don’t use this but it always makes me feel good to see that a company i do business with does other things well whether i take advantage of them or not.

  5. thunderthighs says:

    But how do I close an account that they’ve already de-activated, after catching me open a whole slew of them for the promotional offers? I’m just tired of looking at them.

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