Vanguard Automatic Transactions for 12/06/2018 delayed a day (with backdating)

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EyeDee
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Vanguard Automatic Transactions for 12/06/2018 delayed a day (with backdating)

Post by EyeDee » Fri Dec 07, 2018 11:32 am

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Because of the Day of Mourning holiday on 12/05/2018 Vanguard did not process automatic transactions scheduled for 12/06/2018 properly. When I called them on 12/06/2018 to point out that the automatic withdrawal we had scheduled for 12/06/2018 was not queued up to happen that evening as expected, I was told that they were aware of the problem and working on it. However, when I checked this morning the automatic withdrawal for 12/06/2018 was not done.

I will probably wait a few days and handle it myself if they do not get it done, but anyone having a critical automatic transaction might want to verify with Vanguard that you do not need to do it yourself.

Edit: Title revised to reflect that Vanguard did fix problem for Automatic Transactions for 12/06/2018 by doing them on 12/07/2018 with backdating to 12/06/2018, based upon the fact that our automatic withdrawal was done on 12/07/2018 with a processing date of 12/06/2018.

Previous title: Warning: Problem with Vanguard Automatic Transactions for 12/06/2018
Last edited by EyeDee on Sat Dec 08, 2018 11:29 am, edited 1 time in total.
Randy

RadAudit
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Re: Warning: Problem with Vanguard Automatic Transactions for 12/06/2018

Post by RadAudit » Fri Dec 07, 2018 11:56 am

Same problem. I called yesterday and took a previously scheduled RMD. I guess I'll find out in a little bit that I should have waited when Vanguard fixes the problem and another RMD is taken from the account.
FI is the best revenge. LBYM. Invest the rest. Stay the course. - PS: The calvary isn't coming, kids. You are on your own.

EyeDee
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Re: Warning: Problem with Vanguard Automatic Transactions for 12/06/2018

Post by EyeDee » Fri Dec 07, 2018 1:55 pm

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RadAudit,

Although I was told they were working on the problem on Thursday, I actually think it will not be fixed as it should have been done by Friday morning. I hope to be pleasantly surprised and they fix it today, but I think it is more likely that your circumvention is what is needed.
RadAudit wrote:
Fri Dec 07, 2018 11:56 am
Same problem. I called yesterday and took a previously scheduled RMD. I guess I'll find out in a little bit that I should have waited when Vanguard fixes the problem and another RMD is taken from the account.
Randy

drzzzzz
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Re: Warning: Problem with Vanguard Automatic Transactions for 12/06/2018

Post by drzzzzz » Fri Dec 07, 2018 1:58 pm

I have multiple trades/exchanges that I placed before the 4 pm close yesterday that don't appear to be executed and only saw pending or in progress when normally they would have settled over night

StrangePenguin
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Re: Warning: Problem with Vanguard Automatic Transactions for 12/06/2018

Post by StrangePenguin » Fri Dec 07, 2018 3:37 pm

drzzzzz wrote:
Fri Dec 07, 2018 1:58 pm
I have multiple trades/exchanges that I placed before the 4 pm close yesterday that don't appear to be executed and only saw pending or in progress when normally they would have settled over night
Yes, I agree -- I put in a purchase yesterday before market close for 2 mutual funds. The money came out of my checking account this morning as expected. But I just logged in and still see "In Progress" for the 2 funds where I made the purchases. This is not normal.

I logged in now (25 min until market close) because I was considering doing something else (a TLH sale of an ETF, where I plan to put the proceeds into a mutual fund). But I think I might wait for another day instead.

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HueyLD
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Re: Warning: Problem with Vanguard Automatic Transactions for 12/06/2018

Post by HueyLD » Fri Dec 07, 2018 3:53 pm

The stock market was closed yesterday (Dec. 6, 2018) to mourn the death of the 41st President. That’s why the trades were not processed.

StrangePenguin
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Re: Warning: Problem with Vanguard Automatic Transactions for 12/06/2018

Post by StrangePenguin » Fri Dec 07, 2018 3:56 pm

HueyLD wrote:
Fri Dec 07, 2018 3:53 pm
The stock market was closed yesterday (Dec. 6, 2018) to mourn the death of the 41st President. That’s why the trades were not processed.
Incorrect. The stock market was closed on Wed, Dec 5 for the reason you mention.
It was open yesterday, Dec 6.

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Kurmudjon
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Re: Warning: Problem with Vanguard Automatic Transactions for 12/06/2018

Post by Kurmudjon » Fri Dec 07, 2018 4:07 pm

Scheduled 2018 RMD was not processed as scheduled due to Bush holiday. Trying to find out when it will be done.
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RadAudit
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Re: Warning: Problem with Vanguard Automatic Transactions for 12/06/2018

Post by RadAudit » Sat Dec 08, 2018 8:16 am

Kurmudjon wrote:
Fri Dec 07, 2018 4:07 pm
Scheduled 2018 RMD was not processed as scheduled due to Bush holiday. Trying to find out when it will be done.
I don't know what happened in your case: but, Vanguard processed two additional RMDs in my case. OK, one of those was probably my fault. Should have waited. Monday phone calls to Vanguard ought to be fun.
FI is the best revenge. LBYM. Invest the rest. Stay the course. - PS: The calvary isn't coming, kids. You are on your own.

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Re: Warning: Problem with Vanguard Automatic Transactions for 12/06/2018

Post by livesoft » Sat Dec 08, 2018 9:51 am

Can anyone report whether any other financial institution had problems like this please? Fidelity? Schwab? TDAmeritrade? Et al.?
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EyeDee
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Re: Vanguard Automatic Transactions for 12/06/2018 delayed a day (with backdating)

Post by EyeDee » Sat Dec 08, 2018 11:31 am

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Note: Conversion title revised to reflect that Vanguard did fix problem for Automatic Transactions for 12/06/2018 by doing them on 12/07/2018 with backdating to 12/06/2018, based upon the fact that our automatic withdrawal was done on 12/07/2018 with a processing date of 12/06/2018.

Previous title: Warning: Problem with Vanguard Automatic Transactions for 12/06/2018
Randy

Turbo29
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Re: Warning: Problem with Vanguard Automatic Transactions for 12/06/2018

Post by Turbo29 » Sat Dec 08, 2018 11:36 am

livesoft wrote:
Sat Dec 08, 2018 9:51 am
Can anyone report whether any other financial institution had problems like this please? Fidelity? Schwab? TDAmeritrade? Et al.?
I put in a purchase order for a Vanguard mutual fund at E*trade Friday morning before market open. Generally I will get a text at 7pm MST sharp saying "Your order for... has been executed." No text yesterday. Logged on, order was still open and unexecuted at 8pm. Execution text finally came through at 8:46pm, almost two hours late.

I thought it was an E*trade problem but after reading this thread it seems to be a Vanguard problem.

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Re: Vanguard Automatic Transactions for 12/06/2018 delayed a day (with backdating)

Post by RadAudit » Mon Dec 10, 2018 1:39 pm

RadAudit wrote:
Sat Dec 08, 2018 8:16 am
I don't know what happened in your case: but, Vanguard processed two additional RMDs in my case. OK, one of those was probably my fault. Should have waited. Monday phone calls to Vanguard ought to be fun.
Called the nice folks at Vanguard. They said it'd take three or four business days to back out the additional RMDs. We'll see how it goes.
FI is the best revenge. LBYM. Invest the rest. Stay the course. - PS: The calvary isn't coming, kids. You are on your own.

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