Has Vanguard changed the $250 min Checks?

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stev
Posts: 62
Joined: Wed May 09, 2012 12:21 am
Location: Northern CA, near OR border

Has Vanguard changed the $250 min Checks?

Post by stev » Sun Nov 10, 2019 4:37 pm

I got a new book of checks for my Settlement Fun and it no longer says $250 min in the instructions.
And the $250 min is not printed on the checks anymore like the previous checks.
Can I write a check for less than $250?
Thanks

mhalley
Posts: 7579
Joined: Tue Nov 20, 2007 6:02 am

Re: Has Vanguard changed the $250 min Checks?

Post by mhalley » Sun Nov 10, 2019 4:47 pm

The vanguard website still lists the $250 minimum.
https://personal.vanguard.com/us/whatwe ... eckwriting

Gill
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Joined: Sun Mar 04, 2007 8:38 pm
Location: Florida

Re: Has Vanguard changed the $250 min Checks?

Post by Gill » Sun Nov 10, 2019 5:04 pm

I've been surprised they're willing to issue QCD checks for any amount with no $250 minimum.
Gill
Cost basis is redundant. One has a basis in an investment | One advises and gives advice | One should follow the principle of investing one's principal

pragmatist
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Joined: Sat Sep 10, 2016 8:46 pm

Re: Has Vanguard changed the $250 min Checks?

Post by pragmatist » Sun Nov 10, 2019 5:09 pm

Yes, it appears they have removed the $250 minimum. My new checks do not list the restriction anywhere on the checkbook or checks.

drawpoker
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Location: Delmarva

Re: Has Vanguard changed the $250 min Checks?

Post by drawpoker » Sun Nov 10, 2019 5:42 pm

Not so fast. Whoa, Nellie

If you look in the VG website "glossary", and go the letter c in alphabet, this is what it says if you click on "checkwriting redemption"

checkwriting redemption (CWR)
A check drawn upon a Vanguard client’s account in an amount of at least $250. Only money market or bond funds allow CWR privileges.

However, if you instead click on "checkwriting", no mention is made of a minimum amount, this is what pops up.
checkwriting
Select Vanguard funds, including money market and most bond funds, offer the option to write checks against the account's balance. This checkwriting privilege is free to the account owner.

So, which to believe.... :? :oops:

Sounds like a flurry of secure email messages are going to be going out very soon to VG :|

Trader Joe
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Joined: Fri Apr 25, 2014 6:38 pm

Re: Has Vanguard changed the $250 min Checks?

Post by Trader Joe » Sun Nov 10, 2019 6:31 pm

stev wrote:
Sun Nov 10, 2019 4:37 pm
I got a new book of checks for my Settlement Fun and it no longer says $250 min in the instructions.
And the $250 min is not printed on the checks anymore like the previous checks.
Can I write a check for less than $250?
Thanks
No, nothing has changed.

Chrismax
Posts: 12
Joined: Fri Nov 24, 2017 3:18 pm
Location: San Francisco, CA

Re: Has Vanguard changed the $250 min Checks?

Post by Chrismax » Sun Nov 10, 2019 6:35 pm

The checks will not auto decline if you write them for less than $250. I've written some in the past for less and they went through with no issues.

student
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Joined: Fri Apr 03, 2015 6:58 am

Re: Has Vanguard changed the $250 min Checks?

Post by student » Mon Nov 11, 2019 8:16 am

Chrismax wrote:
Sun Nov 10, 2019 6:35 pm
The checks will not auto decline if you write them for less than $250. I've written some in the past for less and they went through with no issues.
So it seems there is no minimum as we have a real example.

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bertilak
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Re: Has Vanguard changed the $250 min Checks?

Post by bertilak » Mon Nov 11, 2019 11:02 am

drawpoker wrote:
Sun Nov 10, 2019 5:42 pm
Not so fast. Whoa, Nellie

If you look in the VG website "glossary", and go the letter c in alphabet, this is what it says if you click on "checkwriting redemption"

checkwriting redemption (CWR)
A check drawn upon a Vanguard client’s account in an amount of at least $250. Only money market or bond funds allow CWR privileges.

However, if you instead click on "checkwriting", no mention is made of a minimum amount, this is what pops up.
checkwriting
Select Vanguard funds, including money market and most bond funds, offer the option to write checks against the account's balance. This checkwriting privilege is free to the account owner.

So, which to believe.... :? :oops:
I believe both because I don't see a contradiction. YES, the check writing capability is offered (without charge) and YES it is limited to checks of $250 and up.

Not all aspects of every Vanguard service are fully detailed at every mention of the service.

(This is not to say there aren't errors on the web pages!)
May neither drought nor rain nor blizzard disturb the joy juice in your gizzard. -- Squire Omar Barker (aka S.O.B.), the Cowboy Poet

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