Vanguard Security Guarantee - Online only?

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RonSwanson
Posts: 151
Joined: Sat Feb 22, 2020 7:15 pm

Vanguard Security Guarantee - Online only?

Post by RonSwanson »

The security guarantee of a brokerage is important to me.

Vanguard uses this language:

"Your peace of mind and the security of your accounts are extremely important to us. We'll reimburse you the full amount that we determine was taken from your Vanguard account in an unauthorized online transaction on vanguard.com."

So what about something fraudulent that happened over the phone or in writing? Isn't this the bigger threat? Is it not covered?

Schwab says:
"Schwab will cover losses in any of your Schwab accounts due to unauthorized activity."

Fidelity says:
"Fidelity will reimburse you for losses from unauthorized activity in covered accounts occurring through no fault of your own."

Everybody has the "do your part" sections which are similar.
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