Those happy days of free money from Sharebuilder promo codes are over for me. After opening three accounts in the last two months, my fourth account got busted by Sharebuilder. That also means no more Sharebuilder accounts for me in future.
Earlier, while opening the fourth account, Sharebuilder accepted the promo code and everything went smooth. I also set up an automatic investment plan and scheduled a trade for the following Tuesday. However, the trading Tuesday went by and a quick glance at my Sharebuilder summary in Yodlee told me that the trade was not placed. I logged in to check what was going on and saw this message:
Well that’s not the end of it. When I clicked on the “Click here” link in the above message, I was greeted by this:
Fortunately, all other accounts are in working order and I have already received a total of $150 for my three earlier accounts.
I have also confirmed that you cannot remove such a restriction from an account so that damn thing is going to stay there for ever…and remind me whenever I get tempted by another Sharebuilder code.
So to all the aspiring Sharebuilder bonus gatherers: beware ! Sharebuilder might be getting smarter 
If you already have more than one Sharebuilder account, I would suggest you wait a while before opening another account.
{ 4 comments… read them below or add one }
I heard about this - I limited myself to 3 bonuses and luckily haven’t had any trouble.
It looks like the good news is that this doesn’t really hurt your existing accounts - it just prevents you from getting more free bonus money.
Boo! I wanted to limit myself to infinite accounts.
2million: That is right, the rest of the accounts are active and will stay active. It’s alright with the n-more-bonus-money thing since I guess I got as much as one could.
wilks: infinite accounts = infinite money :). Now wasn’t that a quick way to become rich?
Yea, I too got limited to 2 or 3 ‘bonuses per account. Of course it was 2-3 accounts for me and 2-3 for my wife.
And 2-3 for each of my 4 kids under me, and another 2-3 under her. Ended up with a total of 19 accounts.
I am still tempted to open a joint account with me and my wife to try for another 3, which means 3 more for each of the 4 kids
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