How to Withdraw Money From Vanguard?

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dwbogle
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Joined: Tue Jul 24, 2007 1:08 am

How to Withdraw Money From Vanguard?

Post by dwbogle » Mon Aug 20, 2007 1:50 pm

When I log into my Vanguard account, where can I go to transfer money from Vanguard to my checking account with a 3rd party bank?

I already have it setup to transfer money from the 3rd party bank into Vanguard, but how do you go the other way around?

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CyberBob
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Post by CyberBob » Mon Aug 20, 2007 1:59 pm

On the Accounts & Activity page, click Buy & Sell.
Click Sell next to the fund you want to redeem from.
Under Redemption Method there will be an option for Electronic Bank Transfer.

Bob

P.S. Be aware that a redemption from a fund other than a money-market fund will result in a tax-reportable event.
Last edited by CyberBob on Mon Aug 20, 2007 2:02 pm, edited 2 times in total.

rsc601
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Location: Orange County, CA

Post by rsc601 » Mon Aug 20, 2007 2:00 pm

I assume you have a money market fund at Vanguard? If so, go to "My Portfolio" then "Accounts & activities" and then select your money market fund. Then at the top right you'll see a selection that lets you "sell shares". Click on that and you should be in the right place for an electronic bank transfer. It does take a few days so be ready for that.

dwbogle
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Post by dwbogle » Mon Aug 20, 2007 2:15 pm

CyberBob wrote:P.S. Be aware that a redemption from a fund other than a money-market fund will result in a tax-reportable event.
Thanks for the directions. The fund is a MM so I am ok, however is there the possibility that my bank would charge me for a transfer in?

dwbogle
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Post by dwbogle » Mon Aug 20, 2007 2:17 pm

rsc601 wrote:It does take a few days so be ready for that.
Is it possible to setup a checking account with Vanguard that would give one more "instant" (as instant as a check or bank transfer can be) access to the funds?

sport
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Checks

Post by sport » Mon Aug 20, 2007 2:25 pm

You can have check writing on your present money market account. Vanguard will provide printed checks at no charge. The only limitation is that the checks cannot be written for less than $250.

Jeff

Robin
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Post by Robin » Mon Aug 20, 2007 2:27 pm

My experience has been that major banks do not charge for ACH transactions. They may charge for wire transfers -- even deposits.

If you have enough assets with the bank, they may waive WT fees.

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NAVigator
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Location: Iowa

Post by NAVigator » Mon Aug 20, 2007 10:13 pm

I had never even thought about getting money FROM Vanguard. It has always been a one-way street for me. Thanks for the directions given in the responses.

Jerry
"I was born with nothing and I have most of it left."

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family_doc
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checking acct xfers

Post by family_doc » Tue Aug 21, 2007 1:37 am

I just went through this

An ACH transfer from my van mm acct to my linked checking acct can be done either online or w/ a rep

My transfer to my checking acct was free, but took 3 business days

I made the mistake once of doing a wire xfer to the checking acct. It only took one day, but I was told it involves the Federal Reserve(?) for the transfer, not ACH, and my bank thoughtfully dinged me for $35. Faster, though.

No fees on vanguards end, but I am not sure of minimums;I am sure they are on the website.

famdoc

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dratkinson
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Location: Centennial CO

Post by dratkinson » Tue Aug 21, 2007 2:15 am

Just went through this.

1. You must first set up with V* "redemption privileges" for your bank. V* requires this as a secuity precaution. Customer service did it for me while I held on the phone with them.

2. Your bank should not charge you for an income ACH. If they do, there are many others that will not.

/r
David

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