boater07 wrote:They asked me to request Vanguard to transfer funds based on my verbal request.
If you are describing this accurately, it's absurd, and you must be dealing with an inexperienced or poorly trained rep. Ask to talk to someone else--perhaps a supervisor.
boater07 wrote:This whole electronic system the credit union is using seems backward.
Interesting--my perception was exactly the opposite. The system worked smoothly, and I loved that I didn't have to print/sign/scan/email or mail anything, which I believe is a first for me (and I've done quite a few of these transfers). On one of the docs the rep had entered one thing incorrectly, and after I emailed her about it, I had an updated doc ready to sign in less than an hour, as I recall.
boater07 wrote:The telephone reps are not much help and the emails they promise-
don't show up.
Again, my experience was just the opposite, for the most part. I dealt with three or four reps at different stages of the process. There were a few glitches, but with one exception, they were resolved quickly and effectively. My only complaint is that when I noticed that the IRA money market account that had been created disappeared (before funds had arrived), the rep who I had been working with at that point did not return phone calls or emails. Since this didn't seem like a critical issue until the funds arrived, I didn't escalate.
When the funds did arrive, another rep called to tell me that they couldn't find my IRA application (she had already opened up the IRA money market account again), and asked if I would e-sign another one if they couldn't find it. I told her, "sure", but that the document was in their Docusign system, and I was sure I could find it if they couldn't. She said she'd call back if necessary, but apparently they found it (as did I with a quick check of Docusign).
A little later I logged on and saw the larger of the two transfers in the IRA money market (an intermediate step before moving into the CD), but one the other transfer sitting in the primary (taxable) account. So I called the rep back, and mentioned that it looked like they were making progress, but I noticed another glitch. Before I could mention it, she did, and told me she was already working on it. I logged on a little later, and saw everything in the CD.
One or two of the reps did mention to me that this all-electronic process was new for them, and they were still working out the kinks.
boater07 wrote:We Bogleheads have perhaps overwhelmed them with new business
Perhaps. I selfishly waited until the process was almost complete for me before publishing my blog post and posting here