TheGreyingDuke wrote:Not sure how long a hold is placed on deposits, but for sure you get your ABA numbers and to all in the world it appears to be a checking account with all the accoutrements.
With the almost non-existent interest on money market fund, holding any considerable amount in the MMF is costing you, so t now does call for moving of cash into it from better, that is to say higher interest paying, accounts. For simplicity, every six months I deposit into it what is needed for the period ahead (I am retired so no income otherwise comes in.) have also established a separate joint account with my wife to house this separate from our investment accounts.
Grasshopper wrote:Not sure if this helps, I just did a pull from my bank to my Vanguard Advantage sweep account. It looks like I can buy Vanguard products immediately, but can't withdraw the money for 14 days. I am retired have every bit of income swept to my sweep MMF, I keep about 3 months spending in the MMF, and refill from a Short-term bond fund that I fund with capital gains from my taxable accounts.
bertilak wrote:I manage a trust account for my mother which is held at Vanguard. I established an Advantage account primarily so I could pay bills from it. I use on-line bill-pay and occasionally write physical checks. Social Security and pension are direct deposited into the account. I also have ACH set up to transfer money in and out.
Re use of ATM. The Advantage account for the trust has a VISA debit card.
I've had it about a year now and have no complaints.