transfer from vanguard

Non-investing personal finance issues including insurance, credit, real estate, taxes, employment and legal issues such as trusts and wills.
Post Reply
Topic Author
grapeape
Posts: 45
Joined: Sun May 29, 2011 1:56 pm

transfer from vanguard

Post by grapeape »

I need to transfer a large sum of money (approx 250k) from my vanguard taxable account to my checking account for my house downpayment and escrow. I need these funds to be available within 10 days. It sound like if i do an ACH transfer I should expect a week or so for the funds to be available but with a wire transfer they are available the next day. Can I wire transfer money from my vanguard taxable account to my checking account? I dont see that option anywhere, thank you!
User avatar
Tycoon
Posts: 1630
Joined: Wed Mar 28, 2012 7:06 pm

Re: transfer from vanguard

Post by Tycoon »

I've transferred money to and from Vanguard and our checking account. Large amounts too.
Emotionless, prognostication free investing. Ignoring the noise and economists since 1979. Getting rich off of "smart people's" behavioral mistakes.
User avatar
whaleknives
Posts: 1238
Joined: Sun Jun 24, 2012 7:19 pm

Re: transfer from vanguard

Post by whaleknives »

I added a bank to a Vanguard account last month in 3 business days online, and ACH transfers online usually take an additional 3 business days, for a minimum of 6 business days total. I would call Vanguard to see what they recommend for your 10-day timeframe.
"I'm an indexer. I own the market. And I'm happy." (John Bogle, "BusinessWeek", 8/17/07) ☕ Maritime signal flag W - Whiskey: "I require medical assistance."
User avatar
HueyLD
Posts: 9789
Joined: Mon Jan 14, 2008 9:30 am

Re: transfer from vanguard

Post by HueyLD »

grapeape wrote:I need to transfer a large sum of money (approx 250k) from my vanguard taxable account to my checking account for my house downpayment and escrow. I need these funds to be available within 10 days. It sound like if i do an ACH transfer I should expect a week or so for the funds to be available but with a wire transfer they are available the next day. Can I wire transfer money from my vanguard taxable account to my checking account? I dont see that option anywhere, thank you!
Is the banking relationship for both ACH and wires already established?

If yes, you can do a wire transfer for free (maybe, depending on your account status). An ACH will also work, but you need to allow plenty of time and you need to ask the bank for funds availability schedule for such a large amount.
stlutz
Posts: 5585
Joined: Fri Jan 02, 2009 12:08 am

Re: transfer from vanguard

Post by stlutz »

You need to call them but yes you can.
Topic Author
grapeape
Posts: 45
Joined: Sun May 29, 2011 1:56 pm

Re: transfer from vanguard

Post by grapeape »

ACH is already established. Never done a wire transfer though. Glad to hear they do them. Will call them in morning, thank you
livesoft
Posts: 86076
Joined: Thu Mar 01, 2007 7:00 pm

Re: transfer from vanguard

Post by livesoft »

I established a "new bank" at Vanguard in less than 24 hours although the online system said it would take a few days. I think if you set this up tonight, the test small transfers of a few cents via ACH will occur tomorrow night and you will confirm Tuesday morning, then transfer away immediately after that on Tuesday morning.

Since ACH is already established, try it out. Money ACH'd from Vanguard to my checking account is available as soon as I see it there without waiting 10 days. My bank does not put a hold on it. Is that where your 10 days comes from, your bank?

BTW, the above assumes cash is in a MM fund at Vanguard and all trades are settled.
Wiki This signature message sponsored by sscritic: Learn to fish.
User avatar
heartwood
Posts: 2700
Joined: Sat Nov 23, 2013 12:40 pm

Re: transfer from vanguard

Post by heartwood »

HueyLD wrote:
grapeape wrote:I need to transfer a large sum of money (approx 250k) from my vanguard taxable account to my checking account for my house downpayment and escrow. I need these funds to be available within 10 days. It sound like if i do an ACH transfer I should expect a week or so for the funds to be available but with a wire transfer they are available the next day. Can I wire transfer money from my vanguard taxable account to my checking account? I dont see that option anywhere, thank you!
Is the banking relationship for both ACH and wires already established?

If yes, you can do a wire transfer for free (maybe, depending on your account status). An ACH will also work, but you need to allow plenty of time and you need to ask the bank for funds availability schedule for such a large amount.
I second checking with the receiving bank on funds availability for a large ACH transfer, just so there are no surprises. I actually would go with the wire transfer myself since they are federal funds and are supposed to be immediately available. I recall that Vanguard will send the funds that day if the order for the wire is before 10 AM. After 10 AM it will go the next day. Vanguard does not charge (at least my status) for a wire. The receiving bank may have a charge to receive it.
FCM
Posts: 284
Joined: Sun Jan 25, 2009 6:28 pm

Re: transfer from vanguard

Post by FCM »

If you have check writing privileges on your Vanguard money market account, you could write a check on that account, assuming you have the $250K in that money market account. However, I believe the check drawn on a Vanguard money market account is a "draft" as opposed to a check, which might or might not make a difference in your situation. If you need to sell stocks to fund the needed $250K, you would encounter several days of delay between the trade date and the settlement date for those stock transactions, but that wouldn't be the case if you were selling mutual funds in your Vanguard account.
Post Reply