Anyone using VanguardAdvantage with free checking, Visa Gold Debit/ATM, electronic bill pay, direct deposit, plus more?

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mpnret
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Anyone using VanguardAdvantage with free checking, Visa Gold Debit/ATM, electronic bill pay, direct deposit, plus more?

Post by mpnret » Sun Aug 26, 2018 10:02 am

I viewed the Vanguard brochure for the Advantage account and it has a lot of useful features (in subject). I did try a search on the forum and didn't come up with much other some old posts. Anyone using it and care to comment?

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Rager1
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Re: Anyone using VanguardAdvantage with free checking, Visa Gold Debit/ATM, electronic bill pay, direct deposit, plus mo

Post by Rager1 » Sun Aug 26, 2018 11:25 am

Yes. We've been using Vanguard Advantage Accounts for several years. We signed up soon after it was offered through Vanguard.

Highly recommend it. No glitches, no problems, no issues.

Ed

FRANK2009
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Re: Anyone using VanguardAdvantage with free checking, Visa Gold Debit/ATM, electronic bill pay, direct deposit, plus mo

Post by FRANK2009 » Sun Aug 26, 2018 1:19 pm

I've had Vanguard Advantage for probably 20 years or so. Never had a problem with direct deposit. No problem with the Visa card either. Haven't used any of the other features. I don't even know what else Advantage offers. Maybe it's time to check, so thanks!

looking
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Re: Anyone using VanguardAdvantage with free checking, Visa Gold Debit/ATM, electronic bill pay, direct deposit, plus mo

Post by looking » Sun Aug 26, 2018 1:26 pm

do they change ATM card fees

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heartwood
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Re: Anyone using VanguardAdvantage with free checking, Visa Gold Debit/ATM, electronic bill pay, direct deposit, plus mo

Post by heartwood » Sun Aug 26, 2018 1:52 pm

looking wrote:
Sun Aug 26, 2018 1:26 pm
do they change ATM card fees
We have had Advantage accounts for longer than I can remember. We use one as our main checking/billpay account. At least two downsides: free ATM withdrawal at PNC only, and major for us, no mobile check deposit since we switched to the brokerage account format about 2 years ago. Fidelity offers both, but it's too much trouble to change. The billpay works well, so does checking. Both are free for us. Any hiccups, our representative has handled for us.

The Advantage account pulls from the Federal MM in the brokerage. Our SS and pensions direct deposit to the FMM set up through our representative. Our credit cards, mortgage, utilities and other recurring bills are direct debited using the routing number and account number on the checking account.

Broken Man 1999
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Re: Anyone using VanguardAdvantage with free checking, Visa Gold Debit/ATM, electronic bill pay, direct deposit, plus mo

Post by Broken Man 1999 » Sun Aug 26, 2018 2:00 pm

A couple of questions to those having the VanguardAdvantage accounts, please!

I knew the bank used was PNC, and there is a PNC bank nearby our home.

Is a VanguardAdvantage account holder able to use PNC brick and mortar banks for things like notary services, safe deposit boxes?

IOW, does PNC treat the VanguardAdvantage account holder like a PNC customer?

Thanks!

Broken Man 1999
“If I cannot drink Bourbon and smoke cigars in Heaven than I shall not go. " -Mark Twain

Grasshopper
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Re: Anyone using VanguardAdvantage with free checking, Visa Gold Debit/ATM, electronic bill pay, direct deposit, plus mo

Post by Grasshopper » Sun Aug 26, 2018 2:04 pm

We have used VanguardAdvantage for 15 years, not one problem. If you download from Quicken I think it fills the register out better than plain old brokerage. I use bill pay for 2 accounts that won't autopay or take credit cards. You do have to email your rep for international travel to use the card.

arf30
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Re: Anyone using VanguardAdvantage with free checking, Visa Gold Debit/ATM, electronic bill pay, direct deposit, plus mo

Post by arf30 » Sun Aug 26, 2018 2:06 pm

I believe the big dealbreaker with this account is the lack of mobile check deposit, I've stuck with Fidelity's CMA for this reason.

Grasshopper
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Re: Anyone using VanguardAdvantage with free checking, Visa Gold Debit/ATM, electronic bill pay, direct deposit, plus mo

Post by Grasshopper » Sun Aug 26, 2018 2:09 pm

Broken Man 1999 wrote:
Sun Aug 26, 2018 2:00 pm
A couple of questions to those having the VanguardAdvantage accounts, please!

I knew the bank used was PNC, and there is a PNC bank nearby our home.

Is a VanguardAdvantage account holder able to use PNC brick and mortar banks for things like notary services, safe deposit boxes?

IOW, does PNC treat the VanguardAdvantage account holder like a PNC customer?

Thanks!

Broken Man 1999
Just for grins a few years ago i tried to setup the account number with PNC, just get an account unrecognized back.

Nate79
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Re: Anyone using VanguardAdvantage with free checking, Visa Gold Debit/ATM, electronic bill pay, direct deposit, plus mo

Post by Nate79 » Sun Aug 26, 2018 8:40 pm

Sounds like straight from the stone age. Maybe some day they will decide to enter the 21st century?

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tfb
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Re: Anyone using VanguardAdvantage with free checking, Visa Gold Debit/ATM, electronic bill pay, direct deposit, plus mo

Post by tfb » Sun Aug 26, 2018 11:07 pm

mpnret wrote:
Sun Aug 26, 2018 10:02 am
I viewed the Vanguard brochure for the Advantage account and it has a lot of useful features (in subject). I did try a search on the forum and didn't come up with much other some old posts. Anyone using it and care to comment?
It looks like Vanguard stopped marketing this account. If I go to Vanguard's website I don't see this anywhere by menu navigation. I'm curious how you viewed the Vanguard brochure if you didn't know Vanguard had this option. The existing accounts still work but I doubt Vanguard does a whole lot to fix or enhance this product.
Harry Sit, taking a break from the forums.

mpnret
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Re: Anyone using VanguardAdvantage with free checking, Visa Gold Debit/ATM, electronic bill pay, direct deposit, plus mo

Post by mpnret » Mon Sep 10, 2018 9:48 am

tfb wrote:
Sun Aug 26, 2018 11:07 pm
mpnret wrote:
Sun Aug 26, 2018 10:02 am
I viewed the Vanguard brochure for the Advantage account and it has a lot of useful features (in subject). I did try a search on the forum and didn't come up with much other some old posts. Anyone using it and care to comment?
It looks like Vanguard stopped marketing this account. If I go to Vanguard's website I don't see this anywhere by menu navigation. I'm curious how you viewed the Vanguard brochure if you didn't know Vanguard had this option. The existing accounts still work but I doubt Vanguard does a whole lot to fix or enhance this product.
I found it by doing a search on the site. My Flagship rep just confirmed it is available and sent me the info to enroll.

Gaspar18
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Re: Anyone using VanguardAdvantage with free checking, Visa Gold Debit/ATM, electronic bill pay, direct deposit, plus mo

Post by Gaspar18 » Mon Sep 10, 2018 10:43 am

I was wondering ... how come you don't want to use the traditional bank for your checking, bill pay, direct deposit, etc ?

The reason why I ask is perhaps there is an advantage with Vanguard ( or disadvantage with the bank ) that I am not aware of ?

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Re: Anyone using VanguardAdvantage with free checking, Visa Gold Debit/ATM, electronic bill pay, direct deposit, plus mo

Post by G-Force » Wed Sep 12, 2018 7:29 pm

Gaspar18 wrote:
Mon Sep 10, 2018 10:43 am
I was wondering ... how come you don't want to use the traditional bank for your checking, bill pay, direct deposit, etc ?

The reason why I ask is perhaps there is an advantage with Vanguard ( or disadvantage with the bank ) that I am not aware of ?
The main advantage seems to be letting you have all your banking and investments in one place. That advantage may be non-existing with Vanguard though as the Advantage Account is not competitive with offerings from Schwab and Fidelity.

Vanguard Fan 1367
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Re: Anyone using VanguardAdvantage with free checking, Visa Gold Debit/ATM, electronic bill pay, direct deposit, plus mo

Post by Vanguard Fan 1367 » Wed Sep 12, 2018 8:44 pm

I have both brokerage accounts and mutual fund accounts with Vanguard. With the mutual fund accounts I can use mobile check deposit and then move the money online easily to the brokerage accounts. I love Vanguard Advantage. It is pretty cool to get some sort of return on my checking account rather than where I was which was paying virtually nothing. Also the allowed mobile check deposit amounts to my mutual fund accounts are much higher than where I was at Bank of America, which comes in handy.

I like keeping some money in my Vanguard Prime Money market account, earning 2 percent or so these days. I like how easy it is to move that money around.

You are right, they aren't pushing the Advantage account, in the meantime I enjoy it. If you happen to be a Flagship customer many of the fees are waived for the Advantage account.

Over a year ago some of you Bogleheads told me about the account so I signed up.

Vanguard Fan 1367
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Re: Anyone using VanguardAdvantage with free checking, Visa Gold Debit/ATM, electronic bill pay, direct deposit, plus mo

Post by Vanguard Fan 1367 » Wed Sep 12, 2018 9:38 pm

I just read in another thread that Vanguard Advantage now allows mobile check deposit as of September 10.

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heartwood
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Re: Anyone using VanguardAdvantage with free checking, Visa Gold Debit/ATM, electronic bill pay, direct deposit, plus mo

Post by heartwood » Wed Sep 12, 2018 11:44 pm

Thank you for posting the news.

Hallelujah!!!

It's been over two years since switching to brokerage and losing mobile check deposit w/o any forewarning. I've had to mobile deposit rent checks to BOA and EFT to Vanguard, limited to my BOA daily/monthly $10k amount. Vanguard gives me $50k.

Thank you!

criticalmass
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Re: Anyone using VanguardAdvantage with free checking, Visa Gold Debit/ATM, electronic bill pay, direct deposit, plus mo

Post by criticalmass » Thu Sep 13, 2018 3:05 pm

I don’t think Vanguard has ever “pushed” or marketed the Advantage account. At best it’s always been a “by the way” option they have for demanding higher tier customers who want it, and might otherwise run to Fidelity or Schwab.

You can find it buried in account settings as an option.

Broken Man 1999
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Re: Anyone using VanguardAdvantage with free checking, Visa Gold Debit/ATM, electronic bill pay, direct deposit, plus mo

Post by Broken Man 1999 » Thu Sep 13, 2018 6:04 pm

I considered opening up a VanguardAdvantage account, but decided against it. It would just add another account to monitor, and would actually provide nothing in the way of services that our credit union isn't already providing.

However, seems lately our credit union is starting to lay some fees on some services that were traditionally provided free. We haven't encountered any that cost us anything, though I did have to close an account because I could only have one free one.

VanguardAdvantage might be an option if the credit union cuts back on their free checking accounts, right now we seem safe.

As well, recently I was able to add my credit union accounts to the "Outside investments" tab at Vanguard. Previously I was unable to add them, for some unknown reason. Now I can, and am able to see all my investment balances, (including my $1.00 investment in Fidelity's Zero funds) and credit union account balances with one sign-in to Vanguard.

Fidelity ZERO International Index Fund 0.00% 0.100 $9.67 $0.97 (-.03)
Fidelity ZERO Total Market Index Fund 0.00% 0.097 $10.25 $0.99 (-.01)


Broken Man 1999
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blevine
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Re: Anyone using VanguardAdvantage with free checking, Visa Gold Debit/ATM, electronic bill pay, direct deposit, plus mo

Post by blevine » Fri Sep 14, 2018 3:26 pm

It is only free for large clients, so not many consider this since you can get all services free elsewhere :

Flagship annual fee No fee
Voyager Select annual fee $30
Electronic bill payment Voyager Select clients pay $4.95 per month; Flagship clients pay no fee.

But note if you don't live near a PNC bank, you must pay ATM fees.
I have accounts at online financial services firms where they reimburse fees from other banks, Vanguard Advantage does not do so.

With the addition of mobile deposit, this gets more interesting, but without free ATM withdrawals, not so compelling.

Vanguard has made it so easy to move money to/from another bank, don't see this as necessary even though it's free for me as a Flagship client.

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JoMoney
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Re: Anyone using VanguardAdvantage with free checking, Visa Gold Debit/ATM, electronic bill pay, direct deposit, plus mo

Post by JoMoney » Fri Sep 14, 2018 5:00 pm

looking wrote:
Sun Aug 26, 2018 1:26 pm
do they change ATM card fees
Vanguard doesn't charge ATM fees, but most ATM operators will charge a fee if you use a card outside of their network. Vanguard's ATM uses PNC Bank and is free on PNC ATM's, which is limited and not available out west / left coast. You can often bypass ATM fees by getting cash back at a point-of-sale when buying groceries etc.

I don't currently have the Vanguard Advantage Account, have considered it as I like the idea of consolidating banking to a single statement, but as it is without the AA, you can't ACH PULL money from my Vanguard account, and I like the security of having my transactions on an external bank that I have to PUSH money to out of my Vanguard account, and only to a 'approved' linked account (that takes some time and notifications to establish).
I'm also hesitant about where I'm willing to swipe an ATM/DEBIT card. Currently I never use my ATM card at POS terminals, I use a credit card that has more extensive zero-liability protection from fraud, and doesn't put me in a situation of fighting to get access to my money back. I've known multiple people who've had their debit cards compromised and most likely happened when a stores POS system was compromised.

I'll add that on top of the security concern, there's nothing making me want to leave current bank as Capital One 360 checking is completely free, with more/better features, more free ATMs, and you don't have to keep money in it as you can get no-fee very low-rate overdraft credit and/or link it to a FDIC insured Money Market account that offers interest almost as good as Vanguard's MM fund.
"To achieve satisfactory investment results is easier than most people realize; to achieve superior results is harder than it looks." - Benjamin Graham

Broken Man 1999
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Re: Anyone using VanguardAdvantage with free checking, Visa Gold Debit/ATM, electronic bill pay, direct deposit, plus mo

Post by Broken Man 1999 » Fri Sep 14, 2018 5:15 pm

JoMoney wrote:
Fri Sep 14, 2018 5:00 pm
looking wrote:
Sun Aug 26, 2018 1:26 pm
do they change ATM card fees
Vanguard doesn't charge ATM fees, but most ATM operators will charge a fee if you use a card outside of their network. Vanguard's ATM uses PNC Bank and is free on PNC ATM's, which is limited and not available out west / left coast. You can often bypass ATM fees by getting cash back at a point-of-sale when buying groceries etc.

I don't currently have the Vanguard Advantage Account, have considered it as I like the idea of consolidating banking to a single statement, but as it is without the AA, you can't ACH PULL money from my Vanguard account, and I like the security of having my transactions on an external bank that I have to PUSH money to out of my Vanguard account, and only to a 'approved' linked account (that takes some time and notifications to establish).
I'm also hesitant about where I'm willing to swipe an ATM/DEBIT card. Currently I never use my ATM card at POS terminals, I use a credit card that has more extensive zero-liability protection from fraud, and doesn't put me in a situation of fighting to get access to my money back. I've known multiple people who've had their debit cards compromised and most likely happened when a stores POS system was compromised.
I share you concerns about debit cards.

I have never used a debit card as I see no value in using one. My CU says they will treat a debit card like a credit card if hacked, but I'd rather use a credit card and get rewards.

My current card is strictly an ATM card, can't be used as a debit card, per my request. A call to my CU was all it took to remove the debit ability.

The CU is part of a very robust ATM network, so very easy to get money without getting hit by ATM charges. Wife usually uses the ATM at the CU, or the ATM at Publix.

Broken Man 1999
“If I cannot drink Bourbon and smoke cigars in Heaven than I shall not go. " -Mark Twain

smectym
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Re: Anyone using VanguardAdvantage with free checking, Visa Gold Debit/ATM, electronic bill pay, direct deposit, plus mo

Post by smectym » Fri Sep 14, 2018 11:14 pm

Vanguard Fan 1367 wrote:
Wed Sep 12, 2018 8:44 pm
I have both brokerage accounts and mutual fund accounts with Vanguard. With the mutual fund accounts I can use mobile check deposit and then move the money online easily to the brokerage accounts. I love Vanguard Advantage. It is pretty cool to get some sort of return on my checking account rather than where I was which was paying virtually nothing. Also the allowed mobile check deposit amounts to my mutual fund accounts are much higher than where I was at Bank of America, which comes in handy.

I like keeping some money in my Vanguard Prime Money market account, earning 2 percent or so these days. I like how easy it is to move that money around.

You are right, they aren't pushing the Advantage account, in the meantime I enjoy it. If you happen to be a Flagship customer many of the fees are waived for the Advantage account.

Over a year ago some of you Bogleheads told me about the account so I signed up.
Agree with VanguardFan: the core accounts at Schwab and Fidelity pay derisory, still close to zero “FDIC insured” interest rates. Vanguard
uses a fully competitive market-rate money market fund (Federal Money Market) as its core settlement fund. As short-term market rates continue to rise, that’s becoming relevant again.

How important this is to you depends on how large your average cash balance in the core fund is. If it’s $10,000, then maybe you get $15 or $20 more a month in interest by using Vanguard Advantage vs. Fidelity or Schwab. Not earth-shaking, but how many of us would object to a $15 or $20 a month fee?

Smectym

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BoglePaul
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Re: Anyone using VanguardAdvantage with free checking, Visa Gold Debit/ATM, electronic bill pay, direct deposit, plus mo

Post by BoglePaul » Mon Sep 24, 2018 8:48 am

Vanguard Fan 1367 wrote:
Wed Sep 12, 2018 9:38 pm
I just read in another thread that Vanguard Advantage now allows mobile check deposit as of September 10.
Note that this is for accounts accounts that have been open for at least 60 days. So if opening a new account, know that this will not work for two months.

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