I received this email last night, and it was news to me. I’ve had no problems dealing with ING Direct, nor have I had any problems dealing with ShareBuilder. I have accounts with both companies. For a while, ShareBuilder was offering significant bonuses to those who opened accounts, and ING Direct has always had their referral fees. Both companies offered these ways to make some money for a time.
Many customers have had problems with ShareBuilder closing their accounts for receiving too many bonuses, and ING Direct has been through a spate of bad public relations during this past year as it closed many individuals’ accounts or removed access to overdraft protection without warning. Also, ING Direct is no longer the king of high-yield savings accounts, and hasn’t been for several years.
Even still, they are both solid companies, but I never expected them to join forces. Here is the full email.
ShareBuilder has some important news. As of November 15, ShareBuilder has been acquired by ING DIRECT, the nation’s largest direct bank with over 5.5 million customers and $75 billion in U.S. assets (part of Netherlands-based ING, NYSE: ING). ING DIRECT shares our vision of helping Americans increase their savings.
Rest assured there have been no changes made to your iplanlife ShareBuilder account. All of the easy account maintenance, trading tools and customer service functions you are accustomed to will remain the same. The only change you will find is an eventual logo and color change as ShareBuilder begins to adopt ING DIRECT’s signature Orange color. You can also continue to use the same account number, login and password, and can access your account anytime through the co-branded ShareBuilder website.
We look forward to sharing more information with you over the coming months. If you have any questions, we invite you to contact us at 800-365-6605.
ShareBuilder Securities Corporation
Updated April 13, 2016 and originally published November 20, 2007.