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Investing - Theory, News & General • Rob Berger: Vanguard vs. Fidelity and Schwab

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As a long-time Vanguard customer, I opened up a Cash Plus account and used it as a default saving account. Last week, I closed out my Vanguard Cash Plus account and sent everything to Fidelity...

The reason? Vanguard's website would not allow me to add a new bank to link to my account because I used a physical device for two-factor authentication.

Vanguard's website is truly broken.
Could you link the bank by calling Vanguard? Doesn't the Vanguard account pay 200-250 basis points more than Fidelity for bank sweep or money market fund respectively?

No. I tried that option. Vanguard does not have the ability to add a bank account over the phone (due to security issues I was told).

It's insane that you cannot link a bank account to a Vanguard account if you use a physical device for 2FA. But that's the current setup Vanguard has....
Got it, thanks for your response. I agree that the option to use an authenticator app or other physical device for 2FA is, and should be, increasingly available. If Fidelity can do this, I hope that you gave feedback to Vang and that they won't continue to lag behind. I do much prefer Vang, which has met all of my needs for many decades with significant savings compared to Fidelity. But this definitely sounds like something that Vang should fix.

Statistics: Posted by Rocinante Rider — Tue Apr 09, 2024 4:45 pm — Replies 34 — Views 3207



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