Vanguard Voice Verification

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GS
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Vanguard Voice Verification

Post by GS » Tue Jun 27, 2017 4:57 pm

Has anyone used Vanguard's Voice Verification? Does it work? I was told that this can be set up and be used in place of a Medallion Signature Guarantee if you need the signature guarantee later and have a hard time getting one.

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HueyLD
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Re: Vanguard Voice Verification

Post by HueyLD » Tue Jun 27, 2017 5:05 pm

Yes, it works as advertised. I highly recommend it.

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jimgour
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Re: Vanguard Voice Verification

Post by jimgour » Tue Jun 27, 2017 5:09 pm

I've been using it since it was first offered, and it works great.

My advice? Do it!

letsgobobby
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Re: Vanguard Voice Verification

Post by letsgobobby » Tue Jun 27, 2017 5:35 pm

Really like it.

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VictoriaF
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Re: Vanguard Voice Verification

Post by VictoriaF » Tue Jun 27, 2017 5:37 pm

It works well with my accent.

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Artsdoctor
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Re: Vanguard Voice Verification

Post by Artsdoctor » Tue Jun 27, 2017 5:41 pm

It's essential: when you're enrolled, you can almost always circumvent any need for a gold medallion signature guarantee. That's worth a LOT.

Vanguard Fan 1367
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Re: Vanguard Voice Verification

Post by Vanguard Fan 1367 » Tue Jun 27, 2017 7:33 pm

I like it. It works better with recognizing my voice than it did a few years ago when I first started using it.

urumbu
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Re: Vanguard Voice Verification

Post by urumbu » Tue Jun 27, 2017 8:18 pm

GS wrote:Has anyone used Vanguard's Voice Verification? Does it work? I was told that this can be set up and be used in place of a Medallion Signature Guarantee if you need the signature guarantee later and have a hard time getting one.
Google tells me gold medallion guarantee is for selling physical certificates.

I have never had physical share certificates , around 15 years of stock holding .

Any benefit from having physical certificates?

sawhorse
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Re: Vanguard Voice Verification

Post by sawhorse » Wed Jun 28, 2017 12:00 am

For the people who use it, have you tested it with the voice of someone who sounds kind of similar (same gender, accent, etc) to see whether Vanguard could detect that it wasn't you? My main concern is that the technology wouldn't be able to detect an imposter.

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celia
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Re: Vanguard Voice Verification

Post by celia » Wed Jun 28, 2017 3:29 am

Artsdoctor wrote:It's essential: when you're enrolled, you can almost always circumvent any need for a gold medallion signature guarantee. That's worth a LOT.
How would this work? If you are sending in a form that requires a medallion signature, how do you attach "your voice" to it instead?

denovo
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Re: Vanguard Voice Verification

Post by denovo » Wed Jun 28, 2017 4:14 am

Vanguard Fan 1367 wrote:I like it. It works better with recognizing my voice than it did a few years ago when I first started using it.
What happens if you have a sore throat or something else that throws off your voice?
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F150HD
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Re: Vanguard Voice Verification

Post by F150HD » Wed Jun 28, 2017 6:16 am

denovo wrote:
Vanguard Fan 1367 wrote:I like it. It works better with recognizing my voice than it did a few years ago when I first started using it.
What happens if you have a sore throat or something else that throws off your voice?
like if you wake up some AM and suddenly sound like Barry White?

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TheGreyingDuke
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Re: Vanguard Voice Verification

Post by TheGreyingDuke » Wed Jun 28, 2017 6:19 am

I have an intermittently, chronic condition that affects my voice (sometimes). When the condition is operant I am led through three phrases to repeat, when it is inactive I am done wth "At Vanguard, my voice is my password".
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cadreamer2015
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Re: Vanguard Voice Verification

Post by cadreamer2015 » Wed Jun 28, 2017 6:56 am

It works fine. Highly recommended. No more trips to the bank which may no longer provide medallion guarantees.
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heartwood
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Re: Vanguard Voice Verification

Post by heartwood » Wed Jun 28, 2017 7:34 am

I've used it since it was first offered. So does my wife. It allows us to do transfers between us that might require a paper form. I call in first, get the rep, my wife gets on and the rep does voice recognition with her and we complete the transaction.

Here's Vanguard's description of the service including some types of paperless options.

https://personal.vanguard.com/pdf/c106.pdf?2210127729

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HueyLD
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Re: Vanguard Voice Verification

Post by HueyLD » Wed Jun 28, 2017 8:04 am

celia wrote:
Artsdoctor wrote:It's essential: when you're enrolled, you can almost always circumvent any need for a gold medallion signature guarantee. That's worth a LOT.
How would this work? If you are sending in a form that requires a medallion signature, how do you attach "your voice" to it instead?
You call Vanguard and have a rep confirm that you passed the voice verification.

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HueyLD
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Re: Vanguard Voice Verification

Post by HueyLD » Wed Jun 28, 2017 8:05 am

denovo wrote:
Vanguard Fan 1367 wrote:I like it. It works better with recognizing my voice than it did a few years ago when I first started using it.
What happens if you have a sore throat or something else that throws off your voice?
It happened to me once, and I had to answer three different questions to get through.

Jack FFR1846
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Re: Vanguard Voice Verification

Post by Jack FFR1846 » Wed Jun 28, 2017 8:07 am

Fidelity is doing this too. I passed. I've suffered through finger print logins that don't work or that stop working. I've yet to have to get a medallion signature ever in my life and don't expect I ever will need one. If for some reason I do, I walk past my credit union every day at lunch time and can just drop in and get that done for free.
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Ron Scott
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Re: Vanguard Voice Verification

Post by Ron Scott » Wed Jun 28, 2017 8:15 am

I'm still not understanding the value of this for me personally.

I've never done medallion signatures and see no reason to.

VG, like others, have had their share of systems issues and this just adds to the stack

If they ask me what city I met my wife in I tell them.

What am I missing?
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heartwood
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Re: Vanguard Voice Verification

Post by heartwood » Wed Jun 28, 2017 8:55 am

Ron Scott wrote:I'm still not understanding the value of this for me personally.

I've never done medallion signatures and see no reason to.

VG, like others, have had their share of systems issues and this just adds to the stack

If they ask me what city I met my wife in I tell them.

What am I missing?
Probably nothing. OTOH, as I recall it's a quick, free, painless setup in a few minutes, over the phone. It's like insurance, I hope I never have a claim but I have it if needed. We're asked to voice verify each time we call. It's painless. Afterward, the rep usually says "I see you've voice verified, how can I help you?" If you do ever need to do something that requires a paper form, guaranteed, mailed back and processed, having the system setup will save you days and aggravation. We have used it once or twice over 5 years or more, perhaps a wire transfer to a title company, that otherwise would have involved printing the multipage form, finding a bank that does the certification (fewer and fewer; search the forum for Medallion) and then mailing it back and having Vanguard process it. And then doing your transaction. Maybe a week lost?

YMMV

edit: Think of it as two-factor verification if you access your account by logon, with a possible avoidance of mailing some forums. I'm no expert, but I believe it adds security to my account.

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Doom&Gloom
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Re: Vanguard Voice Verification

Post by Doom&Gloom » Wed Jun 28, 2017 12:38 pm

Thanks to all for this information! I had no idea this even existed.

I just set mine up. I have no idea if I'll ever need it, but if I do, this should save some time and inconvenience.

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Phineas J. Whoopee
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Re: Vanguard Voice Verification

Post by Phineas J. Whoopee » Wed Jun 28, 2017 2:58 pm

HueyLD wrote:...
It happened to me once, and I had to answer three different questions to get through.
What sort of questions?
PJW

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HueyLD
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Re: Vanguard Voice Verification

Post by HueyLD » Wed Jun 28, 2017 3:25 pm

Phineas J. Whoopee wrote:
HueyLD wrote:...
It happened to me once, and I had to answer three different questions to get through.
What sort of questions?
PJW
Oops, I had to repeat three different phrases, not questions. However, I don't remember what the second or third phrases were.

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Artsdoctor
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Re: Vanguard Voice Verification

Post by Artsdoctor » Thu Jun 29, 2017 8:26 am

celia wrote:
Artsdoctor wrote:It's essential: when you're enrolled, you can almost always circumvent any need for a gold medallion signature guarantee. That's worth a LOT.
How would this work? If you are sending in a form that requires a medallion signature, how do you attach "your voice" to it instead?
Instead, you write that you're enrolled in voice verification where the signature guarantee is requested. I usually write down my cell number and then they call me. Otherwise, they will send you a request through the Vanguard e-mail system, you'll call in, they will verify, and then you're done.

Even in a city the size of Los Angeles, a gold medallion signature guarantee has become increasingly difficult to coordinate. Having voice verification has been a life changer for me because we've had to transfer assets around several times over the course of the past two years for estate planning purposes. I was sick and tired of trying to coordinate bank appointments with managers who were diverted elsewhere at the last minute, etc., etc.

sawhorse
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Re: Vanguard Voice Verification

Post by sawhorse » Thu Jun 29, 2017 10:55 am

sawhorse wrote:For the people who use it, have you tested it with the voice of someone who sounds kind of similar (same gender, accent, etc) to see whether Vanguard could detect that it wasn't you? My main concern is that the technology wouldn't be able to detect an imposter.
No one?

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Artsdoctor
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Re: Vanguard Voice Verification

Post by Artsdoctor » Thu Jun 29, 2017 11:09 am

sawhorse wrote:
sawhorse wrote:For the people who use it, have you tested it with the voice of someone who sounds kind of similar (same gender, accent, etc) to see whether Vanguard could detect that it wasn't you? My main concern is that the technology wouldn't be able to detect an imposter.
No one?
I think you can google this. There are hundreds of pages describing security measures associated with voice verification. Here is one of many:

https://www.theguardian.com/technology/ ... nt-id-hsbc

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celia
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Re: Vanguard Voice Verification

Post by celia » Thu Jun 29, 2017 11:15 am

Artsdoctor wrote:
celia wrote:
Artsdoctor wrote:It's essential: when you're enrolled, you can almost always circumvent any need for a gold medallion signature guarantee. That's worth a LOT.
How would this work? If you are sending in a form that requires a medallion signature, how do you attach "your voice" to it instead?
Instead, you write that you're enrolled in voice verification where the signature guarantee is requested. I usually write down my cell number and then they call me. Otherwise, they will send you a request through the Vanguard e-mail system, you'll call in, they will verify, and then you're done.

Even in a city the size of Los Angeles, a gold medallion signature guarantee has become increasingly difficult to coordinate. Having voice verification has been a life changer for me because we've had to transfer assets around several times over the course of the past two years for estate planning purposes. I was sick and tired of trying to coordinate bank appointments with managers who were diverted elsewhere at the last minute, etc., etc.
Thank you. Can you also use voice verification for forms that need to be notarized?

And what's the difference between medallion signature and gold medallion signature?

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Artsdoctor
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Re: Vanguard Voice Verification

Post by Artsdoctor » Thu Jun 29, 2017 11:26 am

Unfortunately, the forms which require a notarized signature, I have found, will still require a notary even with voice recognition. This is a shame, but at least a notary is far easier to find.

I believe the correct term is "medallion signature guarantee." For some reason, a previous bank termed it slightly differently but they're the same concept. You probably know this, but the concept of a medallion signature guarantee is really all about liability. If the bank is offering a medallion signature guarantee, it is assuming the liability of fraud when transferring assets. A notary does not do this. I'm really not sure why voice recognition software at Vanguard would not be applicable to forms requiring a notarized signature. Perhaps it's because a medallion signature guarantee is used when transferring assets, whereas a form requiring a notarized signature does not. I don't know the reasoning.

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tadamsmar
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Re: Vanguard Voice Verification

Post by tadamsmar » Mon Nov 06, 2017 10:08 am

A non-identical twin easily cracked HSBC voice verification 6 months ago:

http://www.bbc.com/news/technology-39965545

Also a company called Lyrebird has a voice replication system.

Seems to me that the Achille's heel would be that such systems have to be reasonably user-friendly, so they cannot be too strict.

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siamond
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Re: Vanguard Voice Verification

Post by siamond » Wed Nov 08, 2017 4:34 pm

Finally got to it. Got a bit of a snag with the "Call me" Web page not working properly with Google Chrome, I switched to Safari, and everything worked well (and I have a strong accent). I like the idea of voice recognition replacing stupid security questions...

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tadamsmar
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Re: Vanguard Voice Verification

Post by tadamsmar » Wed Nov 08, 2017 5:15 pm

siamond wrote:
Wed Nov 08, 2017 4:34 pm
Finally got to it. Got a bit of a snag with the "Call me" Web page not working properly with Google Chrome, I switched to Safari, and everything worked well (and I have a strong accent). I like the idea of voice recognition replacing stupid security questions...
They don't use a second factor?

A security expert said that firms should "add another "factor" alongside the voiceprint check to authenticate identity."

http://www.bbc.com/news/technology-39965545

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siamond
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Re: Vanguard Voice Verification

Post by siamond » Wed Nov 08, 2017 6:05 pm

tadamsmar wrote:
Wed Nov 08, 2017 5:15 pm
siamond wrote:
Wed Nov 08, 2017 4:34 pm
Finally got to it. Got a bit of a snag with the "Call me" Web page not working properly with Google Chrome, I switched to Safari, and everything worked well (and I have a strong accent). I like the idea of voice recognition replacing stupid security questions...
They don't use a second factor?

A security expert said that firms should "add another "factor" alongside the voiceprint check to authenticate identity."

http://www.bbc.com/news/technology-39965545
Well, they do ask for the last four digits of your SSN before activating the voice recognition system. I just tried, worked well, I got in. I didn't keep going with the gratuitous call I just made to the support group, didn't want to bother them. Maybe they ask for more information before initiating a sensitive transaction...

BusterMcTaco
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Re: Vanguard Voice Verification

Post by BusterMcTaco » Wed Nov 08, 2017 11:53 pm

I tried this on Fidelity and found out that I didn't even need my password anymore (not that I put much stock in a 12 digit numeric-only password). I immediately cancelled it.

Biometrics are dangerous if not in conjunction with something else (have something, know something).

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tadamsmar
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Re: Vanguard Voice Verification

Post by tadamsmar » Sat Nov 18, 2017 5:02 pm

siamond wrote:
Wed Nov 08, 2017 6:05 pm
tadamsmar wrote:
Wed Nov 08, 2017 5:15 pm
siamond wrote:
Wed Nov 08, 2017 4:34 pm
Finally got to it. Got a bit of a snag with the "Call me" Web page not working properly with Google Chrome, I switched to Safari, and everything worked well (and I have a strong accent). I like the idea of voice recognition replacing stupid security questions...
They don't use a second factor?

A security expert said that firms should "add another "factor" alongside the voiceprint check to authenticate identity."

http://www.bbc.com/news/technology-39965545
Well, they do ask for the last four digits of your SSN before activating the voice recognition system. I just tried, worked well, I got in. I didn't keep going with the gratuitous call I just made to the support group, didn't want to bother them. Maybe they ask for more information before initiating a sensitive transaction...
They do use another factor beyond the SSN check. Make sure your security questions have secure answers.

randomguy
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Re: Vanguard Voice Verification

Post by randomguy » Sat Nov 18, 2017 7:11 pm

Artsdoctor wrote:
Tue Jun 27, 2017 5:41 pm
It's essential: when you're enrolled, you can almost always circumvent any need for a gold medallion signature guarantee. That's worth a LOT.
In terms of convience, no doubt. What the security level of it (i.e. how hard would it be for some one to get through) is a little harder to figure out. Right now I think faking someones voice is in the realm of impossible (i.e. probably technically doable but in reality it isn't going to happen). 10 years from now, who knows. There are a lots of papers on the risks/benefits of using biometrics for security.

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tadamsmar
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Re: Vanguard Voice Verification

Post by tadamsmar » Sat Nov 18, 2017 7:44 pm

randomguy wrote:
Sat Nov 18, 2017 7:11 pm
Artsdoctor wrote:
Tue Jun 27, 2017 5:41 pm
It's essential: when you're enrolled, you can almost always circumvent any need for a gold medallion signature guarantee. That's worth a LOT.
In terms of convience, no doubt. What the security level of it (i.e. how hard would it be for some one to get through) is a little harder to figure out. Right now I think faking someones voice is in the realm of impossible (i.e. probably technically doable but in reality it isn't going to happen). 10 years from now, who knows. There are a lots of papers on the risks/benefits of using biometrics for security.
10 Years from now? It might be here already.

Check out Lyrebird:

https://lyrebird.ai/demo/

Lyrebird is already working with security experts, trying to figure out how to proceed without being too disruptive given that voice authentication is already in use for some sensitive applications (like protecting your nest egg):

"We are working with security researchers to figure out the best way to proceed"

"This is one of the reasons we have not published this to the public yet."

"It's a scary application but we believe that we should be careful and should not be scared of technology and we should try to make the best out of it,"

"One idea we are considering is to watermark the audio samples we produce so we are able to detect immediately if it is us that generated this sample."

http://www.bbc.com/news/technology-39965545

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