Vanguard Cash Plus Account

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AssetClassJunkie
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Re: Vanguard Cash Plus Account

Post by AssetClassJunkie »

Charles Joseph wrote: Sat May 11, 2024 12:52 pm My attempt also recognized the bank as PNC but then the transaction wouldn't complete and I received the above message. I hope it gets cleared up. The easy fix for me is to transfer the money to my checking and then make the payment, but that defeats the purpose of CP.
Possibly related, I just attempted to connect my Apple Pay Savings Account (operated by Goldman Sachs) to my Vanguard Cash Plus in order to move money from the former to the latter, and got the following error on the Apple end: "Cannot Link Account: The account ending in xxxx could not be linked." Via email, it was explained that "The account is not available for transfers to and from Savings because we could not confirm ownership." I'd assumed this was Goldman making life difficult for someone wanting to move money out, but perhaps it's actually related to the aforementioned problems on the Vanguard end?
“The best criticism of the bad is the practice of the better.” —Richard Rohr
manlymatt83
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Re: Vanguard Cash Plus Account

Post by manlymatt83 »

AssetClassJunkie wrote: Sat May 11, 2024 2:39 pm
Charles Joseph wrote: Sat May 11, 2024 12:52 pm My attempt also recognized the bank as PNC but then the transaction wouldn't complete and I received the above message. I hope it gets cleared up. The easy fix for me is to transfer the money to my checking and then make the payment, but that defeats the purpose of CP.
Possibly related, I just attempted to connect my Apple Pay Savings Account (operated by Goldman Sachs) to my Vanguard Cash Plus in order to move money from the former to the latter, and got the following error on the Apple end: "Cannot Link Account: The account ending in xxxx could not be linked." Via email, it was explained that "The account is not available for transfers to and from Savings because we could not confirm ownership." I'd assumed this was Goldman making life difficult for someone wanting to move money out, but perhaps it's actually related to the aforementioned problems on the Vanguard end?
Pretty sure virtual accounts like the Vanguard Cash Plus account don’t release ownership information or at least don’t do so in the way many banks expect.
manlymatt83
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Re: Vanguard Cash Plus Account

Post by manlymatt83 »

Alright, now I'm second guessing my plan based on some recent posts. Originally, I was going to just have all of my debits come out of Vanguard Cash Plus... I optimize CC spend so tend to have about ~10 CC bills each month through auto-debit. I was making this change because Fidelity will start allowing SPAXX to be a sweep fund in their CMA as of June 15th, so this was a change cycle I was going to have to go through anyway (planning on dumping my Fidelity brokerage account I currently use as my "checking" account to workaround the short falls of the CMA that are no longer an issue).

I guess I could just update all my debits to come out of the Fidelity CMA, and then setup a push from VCP to Fidelity for the 15th of each month (my debits come out the 20th - 25th of each month). This would still allow me to use my VCP account for all direct deposits and will help me with budgeting because I'll be calculating what I need to transfer each month, and can make sure I stay on track for monthly spend.

The easier thing would just be to setup the debits out of VCP and just sell VUSXX on the 17th of each month. But now that I'm seeing people talk about the "push to Fidelity or external checking" plan, I'm second guessing.
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nps
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Re: Vanguard Cash Plus Account

Post by nps »

Charles Joseph wrote: Sat May 11, 2024 12:52 pm
anagram wrote: Sat May 11, 2024 12:49 pm
Charles Joseph wrote: Sat May 11, 2024 12:44 pm
anagram wrote: Sat May 11, 2024 12:39 pm One poster said it worked for them, at least two have said it did not work for them.
Make it three. :annoyed
That is the way the web works. You are entering data on the IRS web site. We are entering the same routing number so yes, it is recognized as PNC, just a different account number. So I doubt it worked for that one poster. They perhaps miswrote what they actually did or something else. We shall see.
My attempt also recognized the bank as PNC but then the transaction wouldn't complete and I received the above message. I hope it gets cleared up. The easy fix for me is to transfer the money to my checking and then make the payment, but that defeats the purpose of CP.
Maybe try Fidelity if you want it to work properly. CP is buggy
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Charles Joseph
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Re: Vanguard Cash Plus Account

Post by Charles Joseph »

nps wrote: Sat May 11, 2024 2:57 pm Maybe try Fidelity if you want it to work properly. CP is buggy
Nah. I don't want to pay 0.4% and upwards for their money market funds, along with dealing with a whole host of other issues.

That's why I'm back at Vanguard.
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anagram
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Re: Vanguard Cash Plus Account

Post by anagram »

Charles Joseph wrote: Sat May 11, 2024 3:55 pm
nps wrote: Sat May 11, 2024 2:57 pm Maybe try Fidelity if you want it to work properly. CP is buggy
Nah. I don't want to pay 0.4% and upwards for their money market funds, along with dealing with a whole host of other issues.

That's why I'm back at Vanguard.
But you moved everything to Fidelity a year ago. Why?
PitPirate
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Re: Vanguard Cash Plus Account

Post by PitPirate »

anagram wrote: Sat May 11, 2024 12:47 pm
Charles Joseph wrote: Sat May 11, 2024 12:43 pm
anagram wrote: Sat May 11, 2024 12:19 pm
Charles Joseph wrote: Sat May 11, 2024 9:43 am
PitPirate wrote: Fri May 10, 2024 9:50 pm IRS Direct Pay now recognizes Cash Plus (comes up as PNC). I made my extension tax payment last month and it went through fine.
This is great news as I now want to use CP for estimated tax payments.
It's not great news as it does NOT work.
I just signed on to my IRS account via IDme and attempted to make a small test estimated tax payment with my CP account.

The payment failed.

Your Payment Attempt Has Failed
The bank account information you submitted could not be validated:
Correct. So it does not work.
Well, but it does work. I've made two separate IRS Direct Pay payments, one in September, and one more recently.

See screenshot below:

Image

I think you guys are trying to do automatic payments through an account. Perhaps that doesn't work. But if you go to the direct pay website, and click "make a payment", this does work. I have done it twice. It is a manual process and does not require setting up an account, just confirming some tax information from prior tax year.

https://www.irs.gov/payments/direct-pay
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anagram
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Re: Vanguard Cash Plus Account

Post by anagram »

PitPirate wrote: Sat May 11, 2024 5:02 pm
anagram wrote: Sat May 11, 2024 12:47 pm
Charles Joseph wrote: Sat May 11, 2024 12:43 pm
anagram wrote: Sat May 11, 2024 12:19 pm
Charles Joseph wrote: Sat May 11, 2024 9:43 am

This is great news as I now want to use CP for estimated tax payments.
It's not great news as it does NOT work.
I just signed on to my IRS account via IDme and attempted to make a small test estimated tax payment with my CP account.

The payment failed.

Your Payment Attempt Has Failed
The bank account information you submitted could not be validated:
Correct. So it does not work.
Well, but it does work. I've made two separate IRS Direct Pay payments, one in September, and one more recently.

See screenshot below:

Image

I think you guys are trying to do automatic payments through an account. Perhaps that doesn't work. But if you go to the direct pay website, and click "make a payment", this does work. I have done it twice. It is a manual process and does not require setting up an account, just confirming some tax information from prior tax year.

https://www.irs.gov/payments/direct-pay
I log in and select Estimated Taxes. That does not work via CP. See error messages above.
PitPirate
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Re: Vanguard Cash Plus Account

Post by PitPirate »

anagram wrote: Sat May 11, 2024 5:08 pm
PitPirate wrote: Sat May 11, 2024 5:02 pm
anagram wrote: Sat May 11, 2024 12:47 pm
Charles Joseph wrote: Sat May 11, 2024 12:43 pm
anagram wrote: Sat May 11, 2024 12:19 pm

It's not great news as it does NOT work.
I just signed on to my IRS account via IDme and attempted to make a small test estimated tax payment with my CP account.

The payment failed.

Your Payment Attempt Has Failed
The bank account information you submitted could not be validated:
Correct. So it does not work.
Well, but it does work. I've made two separate IRS Direct Pay payments, one in September, and one more recently.

See screenshot below:

Image

I think you guys are trying to do automatic payments through an account. Perhaps that doesn't work. But if you go to the direct pay website, and click "make a payment", this does work. I have done it twice. It is a manual process and does not require setting up an account, just confirming some tax information from prior tax year.

https://www.irs.gov/payments/direct-pay
I log in and select Estimated Taxes. That does not work via CP. See error messages above.
Right, but that does not mean that "IRS Direct Pay" does not work. It does, if you follow the manual steps I outline. It sounds like if you want to set up an account and include it as one of your bank accounts in order to schedule future payments, apparently that doesn't work.

In case relevant to anyone, I also made an extension payment through TurboTax Easy extension web filing using Cash Plus account and that also worked.
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anagram
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Re: Vanguard Cash Plus Account

Post by anagram »

PitPirate wrote: Sat May 11, 2024 5:12 pm
anagram wrote: Sat May 11, 2024 5:08 pm
PitPirate wrote: Sat May 11, 2024 5:02 pm
anagram wrote: Sat May 11, 2024 12:47 pm
Charles Joseph wrote: Sat May 11, 2024 12:43 pm

I just signed on to my IRS account via IDme and attempted to make a small test estimated tax payment with my CP account.

The payment failed.

Your Payment Attempt Has Failed
The bank account information you submitted could not be validated:
Correct. So it does not work.
Well, but it does work. I've made two separate IRS Direct Pay payments, one in September, and one more recently.

See screenshot below:

Image

I think you guys are trying to do automatic payments through an account. Perhaps that doesn't work. But if you go to the direct pay website, and click "make a payment", this does work. I have done it twice. It is a manual process and does not require setting up an account, just confirming some tax information from prior tax year.

https://www.irs.gov/payments/direct-pay
I log in and select Estimated Taxes. That does not work via CP. See error messages above.
Right, but that does not mean that "IRS Direct Pay" does not work. It does, if you follow the manual steps I outline. It sounds like if you want to set up an account and include it as one of your bank accounts in order to schedule future payments, apparently that doesn't work.

In case relevant to anyone, I also made an extension payment through TurboTax Easy extension web filing using Cash Plus account and that also worked.
Okay. Some parts of IRS Direct Pay do not work and some parts of IRS Direct Pay do work.

Can you make Estimated Payments using your manual method?
PitPirate
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Re: Vanguard Cash Plus Account

Post by PitPirate »

duplicate
Last edited by PitPirate on Sat May 11, 2024 5:33 pm, edited 5 times in total.
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Charles Joseph
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Re: Vanguard Cash Plus Account

Post by Charles Joseph »

Has anyone successfully pulled from Vanguard Cash Plus to Elan on the Fidelity website to pay their Fidelity Signature VISA card yet?
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PitPirate
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Re: Vanguard Cash Plus Account

Post by PitPirate »

anagram wrote: Sat May 11, 2024 5:19 pm
PitPirate wrote: Sat May 11, 2024 5:12 pm
anagram wrote: Sat May 11, 2024 5:08 pm
PitPirate wrote: Sat May 11, 2024 5:02 pm
anagram wrote: Sat May 11, 2024 12:47 pm

Correct. So it does not work.
Well, but it does work. I've made two separate IRS Direct Pay payments, one in September, and one more recently.

See screenshot below:

Image

I think you guys are trying to do automatic payments through an account. Perhaps that doesn't work. But if you go to the direct pay website, and click "make a payment", this does work. I have done it twice. It is a manual process and does not require setting up an account, just confirming some tax information from prior tax year.

https://www.irs.gov/payments/direct-pay
I log in and select Estimated Taxes. That does not work via CP. See error messages above.
Right, but that does not mean that "IRS Direct Pay" does not work. It does, if you follow the manual steps I outline. It sounds like if you want to set up an account and include it as one of your bank accounts in order to schedule future payments, apparently that doesn't work.

In case relevant to anyone, I also made an extension payment through TurboTax Easy extension web filing using Cash Plus account and that also worked.
Okay. Some parts of IRS Direct Pay do not work and some parts of IRS Direct Pay do work.

Can you make Estimated Payments using your manual method?
I haven't tried it, but I assume you have set up an "Online Account" with IRS and are trying to make estimated tax payments by adding Cash Plus as one of your accounts. It sounds like that doesn't work because they've blacklisted the number as being some closed bank form 1999 per earlier response in the thread. That makes some sense, because if you can imagine in 1999, some people probably had set up installment payments or future estimated payments through that closed bank, so they probably wanted a way to shut those off and inform the taxpayers that the payments wouldn't go through until they updated their information.

Of course, no one is sitting at the IRS thinking or caring about the possibility of a routing number being reactived 24 years later.

But if you make a "Guest Payment" - i.e. a manual one time payment WITHOUT logging in - it appears to work fine and has been working at least as far back as September. I assume that is because the IRS doesn't care about one-time payments because the worst case for them is the single payment just fails. They didn't need to inform anyone of anything with respect to "guest payments".

So, obviously annoying, but at least it gets the job done if you are like me and make manual payments anyway.

Yes, i've only tried it with estimated payments (and the extension payment), but I would guess it works for any payments that you can make through IRS Direct Pay assuming you don't login and make a "guest" payment.
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anagram
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Re: Vanguard Cash Plus Account

Post by anagram »

PitPirate wrote: Sat May 11, 2024 5:33 pm
anagram wrote: Sat May 11, 2024 5:19 pm
PitPirate wrote: Sat May 11, 2024 5:12 pm
anagram wrote: Sat May 11, 2024 5:08 pm
PitPirate wrote: Sat May 11, 2024 5:02 pm

Well, but it does work. I've made two separate IRS Direct Pay payments, one in September, and one more recently.

See screenshot below:

Image

I think you guys are trying to do automatic payments through an account. Perhaps that doesn't work. But if you go to the direct pay website, and click "make a payment", this does work. I have done it twice. It is a manual process and does not require setting up an account, just confirming some tax information from prior tax year.

https://www.irs.gov/payments/direct-pay
I log in and select Estimated Taxes. That does not work via CP. See error messages above.
Right, but that does not mean that "IRS Direct Pay" does not work. It does, if you follow the manual steps I outline. It sounds like if you want to set up an account and include it as one of your bank accounts in order to schedule future payments, apparently that doesn't work.

In case relevant to anyone, I also made an extension payment through TurboTax Easy extension web filing using Cash Plus account and that also worked.
Okay. Some parts of IRS Direct Pay do not work and some parts of IRS Direct Pay do work.

Can you make Estimated Payments using your manual method?
I haven't tried it, but I assume you have set up an "Online Account" with IRS and are trying to make estimated tax payments by adding Cash Plus as one of your accounts. It sounds like that doesn't work because they've blacklisted the number as being some closed bank form 1999 per earlier response in the thread. That makes some sense, because if you can imagine in 1999, some people probably had set up installment payments or future estimated payments through that closed bank, so they probably wanted a way to shut those off and inform the taxpayers that the payments wouldn't go through until they updated their information.

Of course, no one is sitting at the IRS thinking or caring about the possibility of a routing number being reactived 24 years later.

But if you make a "Guest Payment" - i.e. a manual one time payment WITHOUT logging in - it appears to work fine and has been working at least as far back as September. I assume that is because the IRS doesn't care about one-time payments because the worst case for them is the single payment just fails. They didn't need to inform anyone of anything with respect to "guest payments".

So, obviously annoying, but at least it gets the job done if you are like me and make manual payments anyway.

Yes, i've only tried it with estimated payments (and the extension payment), but I would guess it works for any payments that you can make through IRS Direct Pay assuming you don't login and make a "guest" payment.
It makes no sense to me that the IRS would stop you making an estimated payment from within your account and yet allow you to make a "guest" payment when both payments are made using the SAME routing number.

I think it far more likely that this is a problem with how the IRS website is organized and coded.
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TheRoundHeadedKid
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Re: Vanguard Cash Plus Account

Post by TheRoundHeadedKid »

Charles Joseph wrote: Sat May 11, 2024 5:30 pm Has anyone successfully pulled from Vanguard Cash Plus to Elan on the Fidelity website to pay their Fidelity Signature VISA card yet?
I don't have Fidelity Visa, but I have pulled from Vanguard Cash Plus to US Bank Cash+ Visa. Only credit card I have that can't pull from Vanguard Cash Plus is AA Daily Advantage Visa.
All 86 Vanguard ETFs equally invested.
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TheRoundHeadedKid
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Re: Vanguard Cash Plus Account

Post by TheRoundHeadedKid »

anagram wrote: Sat May 11, 2024 6:30 pm
It makes no sense to me that the IRS would stop you making an estimated payment from within your account and yet allow you to make a "guest" payment when both payments are made using the SAME routing number.

I think it far more likely that this is a problem with how the IRS website is organized and coded.
I do not recommend paying IRS estimated tax payments from a checking or savings account, including the Vanguard Cash Plus. Use a no annual fee, high percent cash back credit card or debit card. You can actually have a bigger cash back than what you pay in fees.
All 86 Vanguard ETFs equally invested.
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anagram
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Re: Vanguard Cash Plus Account

Post by anagram »

TheRoundHeadedKid wrote: Sat May 11, 2024 10:48 pm
anagram wrote: Sat May 11, 2024 6:30 pm
It makes no sense to me that the IRS would stop you making an estimated payment from within your account and yet allow you to make a "guest" payment when both payments are made using the SAME routing number.

I think it far more likely that this is a problem with how the IRS website is organized and coded.
I do not recommend paying IRS estimated tax payments from a checking or savings account, including the Vanguard Cash Plus. Use a no annual fee, high percent cash back credit card or debit card. You can actually have a bigger cash back than what you pay in fees.
Credit card minimum fee is 1.82% at Direct Pay. I don't see how this is a "bigger" cash back than what one pays in fees.
manlymatt83
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Re: Vanguard Cash Plus Account

Post by manlymatt83 »

:twisted:
anagram wrote: Sat May 11, 2024 10:51 pm
TheRoundHeadedKid wrote: Sat May 11, 2024 10:48 pm
anagram wrote: Sat May 11, 2024 6:30 pm
It makes no sense to me that the IRS would stop you making an estimated payment from within your account and yet allow you to make a "guest" payment when both payments are made using the SAME routing number.

I think it far more likely that this is a problem with how the IRS website is organized and coded.
I do not recommend paying IRS estimated tax payments from a checking or savings account, including the Vanguard Cash Plus. Use a no annual fee, high percent cash back credit card or debit card. You can actually have a bigger cash back than what you pay in fees.
Credit card minimum fee is 1.82% at Direct Pay. I don't see how this is a "bigger" cash back than what one pays in fees.
I mean, to his point, I have put my taxes on the 2.5% alliant card in the past.
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anagram
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Re: Vanguard Cash Plus Account

Post by anagram »

manlymatt83 wrote: Sat May 11, 2024 10:59 pm :twisted:
anagram wrote: Sat May 11, 2024 10:51 pm
TheRoundHeadedKid wrote: Sat May 11, 2024 10:48 pm
anagram wrote: Sat May 11, 2024 6:30 pm
It makes no sense to me that the IRS would stop you making an estimated payment from within your account and yet allow you to make a "guest" payment when both payments are made using the SAME routing number.

I think it far more likely that this is a problem with how the IRS website is organized and coded.
I do not recommend paying IRS estimated tax payments from a checking or savings account, including the Vanguard Cash Plus. Use a no annual fee, high percent cash back credit card or debit card. You can actually have a bigger cash back than what you pay in fees.
Credit card minimum fee is 1.82% at Direct Pay. I don't see how this is a "bigger" cash back than what one pays in fees.
I mean, to his point, I have put my taxes on the 2.5% alliant card in the past.
Okay if one wants to be at Alliant. Too many issues now.
slondr
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Re: Vanguard Cash Plus Account

Post by slondr »

anagram wrote: Sat May 11, 2024 10:51 pm
TheRoundHeadedKid wrote: Sat May 11, 2024 10:48 pm
anagram wrote: Sat May 11, 2024 6:30 pm
It makes no sense to me that the IRS would stop you making an estimated payment from within your account and yet allow you to make a "guest" payment when both payments are made using the SAME routing number.

I think it far more likely that this is a problem with how the IRS website is organized and coded.
I do not recommend paying IRS estimated tax payments from a checking or savings account, including the Vanguard Cash Plus. Use a no annual fee, high percent cash back credit card or debit card. You can actually have a bigger cash back than what you pay in fees.
Credit card minimum fee is 1.82% at Direct Pay. I don't see how this is a "bigger" cash back than what one pays in fees.
2% cash back cards are fairly common.
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anagram
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Re: Vanguard Cash Plus Account

Post by anagram »

slondr wrote: Sun May 12, 2024 2:32 pm
anagram wrote: Sat May 11, 2024 10:51 pm
TheRoundHeadedKid wrote: Sat May 11, 2024 10:48 pm
anagram wrote: Sat May 11, 2024 6:30 pm
It makes no sense to me that the IRS would stop you making an estimated payment from within your account and yet allow you to make a "guest" payment when both payments are made using the SAME routing number.

I think it far more likely that this is a problem with how the IRS website is organized and coded.
I do not recommend paying IRS estimated tax payments from a checking or savings account, including the Vanguard Cash Plus. Use a no annual fee, high percent cash back credit card or debit card. You can actually have a bigger cash back than what you pay in fees.
Credit card minimum fee is 1.82% at Direct Pay. I don't see how this is a "bigger" cash back than what one pays in fees.
2% cash back cards are fairly common.
Agreed but for 0.18% is it really worth it? Going through a 3rd party when I tell IRS to do a direct debit from a checking account or CP if the IRS ever gets their website sorted out.
Northern Flicker
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Re: Vanguard Cash Plus Account

Post by Northern Flicker »

At the breakeven point, I'd rather use a credit card than have a payee do an ACH pull. Anything extra is gravy.
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Cheez-It Guy
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Re: Vanguard Cash Plus Account

Post by Cheez-It Guy »

Plus, you don't actually have to pay the bill until 25 days after the statement closing date.
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anagram
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Re: Vanguard Cash Plus Account

Post by anagram »

Northern Flicker wrote: Sun May 12, 2024 3:33 pm At the breakeven point, I'd rather use a credit card than have a payee do an ACH pull. Anything extra is gravy.
And how do you pay the CCs?
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mhc
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Re: Vanguard Cash Plus Account

Post by mhc »

anagram wrote: Sun May 12, 2024 3:49 pm
Northern Flicker wrote: Sun May 12, 2024 3:33 pm At the breakeven point, I'd rather use a credit card than have a payee do an ACH pull. Anything extra is gravy.
And how do you pay the CCs?
I pay many, many places with CC. I then only have one ACH pull from checking account to pay the CC. I think this is better than having many, many ACH pulls. The cash back on the CC makes it even that much better.
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Northern Flicker
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Re: Vanguard Cash Plus Account

Post by Northern Flicker »

anagram wrote: Sun May 12, 2024 3:49 pm
Northern Flicker wrote: Sun May 12, 2024 3:33 pm At the breakeven point, I'd rather use a credit card than have a payee do an ACH pull. Anything extra is gravy.
And how do you pay the CCs?
Online billpay (not from the Vanguard account). I have to pay the CC regardless of what is used for paying taxes. I'll add that I've not (yet) used a CC to pay taxes, but would prefer it to ACH.
Last edited by Northern Flicker on Mon May 13, 2024 2:07 am, edited 1 time in total.
slondr
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Re: Vanguard Cash Plus Account

Post by slondr »

anagram wrote: Sun May 12, 2024 2:46 pm
slondr wrote: Sun May 12, 2024 2:32 pm
anagram wrote: Sat May 11, 2024 10:51 pm
TheRoundHeadedKid wrote: Sat May 11, 2024 10:48 pm
anagram wrote: Sat May 11, 2024 6:30 pm
It makes no sense to me that the IRS would stop you making an estimated payment from within your account and yet allow you to make a "guest" payment when both payments are made using the SAME routing number.

I think it far more likely that this is a problem with how the IRS website is organized and coded.
I do not recommend paying IRS estimated tax payments from a checking or savings account, including the Vanguard Cash Plus. Use a no annual fee, high percent cash back credit card or debit card. You can actually have a bigger cash back than what you pay in fees.
Credit card minimum fee is 1.82% at Direct Pay. I don't see how this is a "bigger" cash back than what one pays in fees.
2% cash back cards are fairly common.
Agreed but for 0.18% is it really worth it? Going through a 3rd party when I tell IRS to do a direct debit from a checking account or CP if the IRS ever gets their website sorted out.
It's a small benefit. All things considered equal, maybe not worth it. But if your credit card charges Cash Plus, and you can't get the IRS to charge Cash Plus, it's a way to get paid (a small amount) in order to not have to move money into a separate account just to pay the IRS.
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Charles Joseph
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Re: Vanguard Cash Plus Account

Post by Charles Joseph »

TheRoundHeadedKid wrote: Sat May 11, 2024 10:48 pm I do not recommend paying IRS estimated tax payments from a checking or savings account, including the Vanguard Cash Plus.
Just curious, why not? I've only paid out of my checking account (which I can almost no money in at any given time other than what's scheduled to come out).
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Charles Joseph
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Re: Vanguard Cash Plus Account

Post by Charles Joseph »

anagram wrote: Sat May 11, 2024 6:30 pm It makes no sense to me that the IRS would stop you making an estimated payment from within your account and yet allow you to make a "guest" payment when both payments are made using the SAME routing number.
I tried it this way also today and it didn't work. Gave up and made a payment via my checking account. I didn't do the credit card.
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Vulcan
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Re: Vanguard Cash Plus Account

Post by Vulcan »

Charles Joseph wrote: Sat May 11, 2024 5:30 pm Has anyone successfully pulled from Vanguard Cash Plus to Elan on the Fidelity website to pay their Fidelity Signature VISA card yet?
My Elan Fidelity Visa been on autopay from CP since January. No issues.
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Vulcan
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Re: Vanguard Cash Plus Account

Post by Vulcan »

slondr wrote: Sun May 12, 2024 5:53 pm But if your credit card charges Cash Plus, and you can't get the IRS to charge Cash Plus, it's a way to get paid (a small amount) in order to not have to move money into a separate account just to pay the IRS.
Indeed. A 2% cash back card pays you 0.18% to pay the IRS via payUSAtax.

https://www.irs.gov/payments/pay-your-t ... redit-card
If you torture the data long enough, it will confess to anything. ~Ronald Coase
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Charles Joseph
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Re: Vanguard Cash Plus Account

Post by Charles Joseph »

Vulcan wrote: Mon May 13, 2024 6:22 am
Charles Joseph wrote: Sat May 11, 2024 5:30 pm Has anyone successfully pulled from Vanguard Cash Plus to Elan on the Fidelity website to pay their Fidelity Signature VISA card yet?
My Elan Fidelity Visa been on autopay from CP since January. No issues.
My manual payment went through today. That's good news.

Apropos of nothing, I do like how the CP account is segregated from buying and selling mutual funds and ETFs (other than MMFs). This prevents me from tinkering with the cash I have earmarked for spending, which I have a noted history of. I see this as a plus over other cash management accounts (not a criticism of them, an awareness of my own behaviors). I'd have to transfer the cash back to my brokerage account in order to invest it. A bit of a barrier anyway.
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PitPirate
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Re: Vanguard Cash Plus Account

Post by PitPirate »

Lastrun wrote: Fri Mar 01, 2024 3:59 pm
stan1 wrote: Fri Mar 01, 2024 3:31 pm
grtwallchina75 wrote: Fri Mar 01, 2024 2:52 pm Lastrun,
Is the Navigation path like this Bill Pay > Other Pay from Accounts > Add Pay from Account you own from other institutions > Verify the trails deposits and that external (eg VG CP) will show up in the AutoPay of the boa CC, select pay from External in the BoA CC AutoPay (not select BoA Checking) and now we can pay via VG CP via ACH pull ?
Can you add the external account? If yes then you are one of the ones who can. If you try to add it and you get an error message stating this feature is not available then you are one of the ones who can't.
This is the correct path approach, but it will not let me link the CP account, but will let me link other external accounts.

The specific message I get is:
We can't process electronic transactions from this financial institution. Check with Bank of America if you're not sure which accounts you can use with Bill Pay.
As I have stated, this is a BofA issue, but is peculiar to VGCP/PNC because:

1. I can link other external accounts to pay my BofA credit card
2. Others can link CP to pay their BofA credit card, at least those without a BofA checking account

I called BofA on this and they did not offer an acceptable solution. After seeing how CP works, my solution is not to use CP, but just my VG brokerage settlement fund along with my Ally checking as I have in the past. The VG brokerage to CP transfer times (brokerage VMFXX to Ally or CP), and the internal CP cash availability times (VMFXX in CP sell to CP available), are all exactly the same in terms of effort and timing so no difference to me.

I'll keep the account open because at some point I suspect the CP interest rate may be more favorable than other options, or BofA will resolve the issue.
I assume no one found a solution to this? I got the same error.

Image

Allows me to set up just fine for the Mortgage, but seems hardcoded to prevent me from using that for the credit card.

I spoke to someone at BOA. They told me that the credit card bill pay is a different standard than the mortgage bill pay, and generally speaking for paying a credit card I am only allowed to link routing numbers that are coded as being tied to checking or savings accounts. This seems inconsistent with other people reporting they were able to link a cash plus account when they didn't have a BOA checking account (i guess they have a lower standard there), but I presume there is some legitimate issue with the PNC routing number which is leading to all of these issues. Alas, they didn't have any solution for me at this point, and at least didn't send me on some wild goose chase.

This is a pretty significant limitation for me given my BOA credit card is my main card, so will need to manually fund my 0.01% interest BOA checking account every month to pay it.
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Re: Vanguard Cash Plus Account

Post by manlymatt83 »

Charles Joseph wrote: Mon May 13, 2024 12:43 pm
Vulcan wrote: Mon May 13, 2024 6:22 am
Charles Joseph wrote: Sat May 11, 2024 5:30 pm Has anyone successfully pulled from Vanguard Cash Plus to Elan on the Fidelity website to pay their Fidelity Signature VISA card yet?
My Elan Fidelity Visa been on autopay from CP since January. No issues.
My manual payment went through today. That's good news.

Apropos of nothing, I do like how the CP account is segregated from buying and selling mutual funds and ETFs (other than MMFs). This prevents me from tinkering with the cash I have earmarked for spending, which I have a noted history of. I see this as a plus over other cash management accounts (not a criticism of them, an awareness of my own behaviors). I'd have to transfer the cash back to my brokerage account in order to invest it. A bit of a barrier anyway.
I second this benefit.
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Re: Vanguard Cash Plus Account

Post by manlymatt83 »

Just curious, can anyone confirm payments to Amex cards work? (Those initiated on americanexpress.com)
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Re: Vanguard Cash Plus Account

Post by Time for Coffee »

manlymatt83 wrote: Mon May 13, 2024 6:23 pm Just curious, can anyone confirm payments to Amex cards work? (Those initiated on americanexpress.com)
I've had a seamless experience with credit-card auto-pay from both Amex and Alliant.
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Charles Joseph
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Re: Vanguard Cash Plus Account

Post by Charles Joseph »

Pondering my transition back to Vanguard and using the Cash Plus Account; I rarely used the Fidelity CMA debit card, so I really don't miss that feature. I expect to do fine without it.
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manlymatt83
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Re: Vanguard Cash Plus Account

Post by manlymatt83 »

Charles Joseph wrote: Mon May 13, 2024 7:17 pm Pondering my transition back to Vanguard and using the Cash Plus Account; I rarely used the Fidelity CMA debit card, so I really don't miss that feature. I expect to do fine without it.
Agreed! I have a Schwab checking account for the ATM refunds.
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Charles Joseph
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Re: Vanguard Cash Plus Account

Post by Charles Joseph »

manlymatt83 wrote: Mon May 13, 2024 7:19 pm
Charles Joseph wrote: Mon May 13, 2024 7:17 pm Pondering my transition back to Vanguard and using the Cash Plus Account; I rarely used the Fidelity CMA debit card, so I really don't miss that feature. I expect to do fine without it.
Agreed! I have a Schwab checking account for the ATM refunds.
And my wife and I still have a Fidelity CMA with a debit card. We use that as our high-yield savings account.
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Lastrun
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Re: Vanguard Cash Plus Account

Post by Lastrun »

PitPirate wrote: Mon May 13, 2024 1:42 pm .....
This is a pretty significant limitation for me given my BOA credit card is my main card, so will need to manually fund my 0.01% interest BOA checking account every month to pay it.
Yes, sadly I gave up on Cash Plus. And as I said upthread, this is some sort of a BofA issue, as I have no issue linking my BofA credit card to my rinky-dink local bank, not Fidelity with their goofy long account numbers. And others can link their BofA account to Cash Plus that don't have BofA checking.
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Vanguard Cash Plus Account

Post by ratpacker05 »

[Merged into existing discussion - moderator Kendall]

What are your opinions on the new Vanguard Cash Plus Account?
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Re: Vanguard Cash Plus Account

Post by Wiggums »

Best for Vanguard customers who wish to earn a high interest rate and have access to a higher-than-average federal insurance limit on their savings.

Thread:

viewtopic.php?t=421345
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Re: Vanguard Cash Plus Account

Post by 1789 »

Sounds like it would be difficult for Vanguard to compete with Fidelity in cash management space given Fidelity CMA has debit card access and ATM fee reimbursements.
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Re: Vanguard Cash Plus Account--DFAS?

Post by Vanfan22 »

Hello, I'm trying get Direct Deposit working from my mother's Survivor Benefit Plan, which is paid from the military pay system, DFAS. After a couple tries we finally got somebody on the phone who said they didn't recognize the routing number from PNC, so couldn't make the direct deposit work. Anyone else tried this, any different outcomes?
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Re: Vanguard Cash Plus Account--DFAS?

Post by xmorphicx »

Vanfan22 wrote: Wed May 15, 2024 2:07 pm Hello, I'm trying get Direct Deposit working from my mother's Survivor Benefit Plan, which is paid from the military pay system, DFAS. After a couple tries we finally got somebody on the phone who said they didn't recognize the routing number from PNC, so couldn't make the direct deposit work. Anyone else tried this, any different outcomes?
I have my DD from DFAS set to go to Cash Plus right now. I set it up myself online through the myPay website (https://mypay.dfas.mil/#/) by entering the routing and account numbers. The system recognized it as PNC Bank. DD has been arriving on time without issue.
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Re: Vanguard Cash Plus Account--DFAS?

Post by Vanfan22 »

xmorphicx wrote: Wed May 15, 2024 2:13 pm
Vanfan22 wrote: Wed May 15, 2024 2:07 pm Hello, I'm trying get Direct Deposit working from my mother's Survivor Benefit Plan, which is paid from the military pay system, DFAS. After a couple tries we finally got somebody on the phone who said they didn't recognize the routing number from PNC, so couldn't make the direct deposit work. Anyone else tried this, any different outcomes?
I have my DD from DFAS set to go to Cash Plus right now. I set it up myself online through the myPay website (https://mypay.dfas.mil/#/) by entering the routing and account numbers. The system recognized it as PNC Bank. DD has been arriving on time without issue.
Thanks, good to know that it CAN work. I did exactly the same steps, it seemed to recognize it as PNC bank, but then...nothing. Oh well maybe I'll try it again in a couple months!
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Re: Vanguard Cash Plus Account--DFAS?

Post by xmorphicx »

Vanfan22 wrote: Wed May 15, 2024 2:39 pm Thanks, good to know that it CAN work. I did exactly the same steps, it seemed to recognize it as PNC bank, but then...nothing. Oh well maybe I'll try it again in a couple months!
Out or curiosity, did you select "Checking" or "Savings" on myPay when choosing account type? I selected "Checking" before seeing the note on the Cash Plus website that suggests using "Savings." Not even sure if that really matters but just throwing out ideas.
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Re: Vanguard Cash Plus Account

Post by LadyGeek »

I removed an interchange regarding Fidelity's CMA debit card. The discussion was derailed. As a reminder, see: General Etiquette
Attacks on individuals, insults, name calling, trolling, baiting or other attempts to sow dissension are not acceptable.
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Re: Vanguard Cash Plus Account

Post by Charles Joseph »

LadyGeek wrote: Wed May 15, 2024 3:40 pm I removed an interchange regarding Fidelity's CMA debit card. The discussion was derailed. As a reminder, see: General Etiquette
Attacks on individuals, insults, name calling, trolling, baiting or other attempts to sow dissension are not acceptable.
Thank you.
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Re: Vanguard Cash Plus Account--DFAS?

Post by oneleaf »

xmorphicx wrote: Wed May 15, 2024 3:17 pm Out or curiosity, did you select "Checking" or "Savings" on myPay when choosing account type? I selected "Checking" before seeing the note on the Cash Plus website that suggests using "Savings." Not even sure if that really matters but just throwing out ideas.
Wow, I didn't see that note about selecting "Savings", but just saw it. I have always selected "Checking" for my bill pays. It has worked so far.
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