Well all I can say is Vanguard app would not take a $700k Vanguard-Ascensus rollover check via mobile deposit and a half hour on the phone with two reps based on exceeding the limit. Had to mail it in. YMMV. You can argue back with what the T&C says, but I can only state my actual personal experience.No need to mail large checks to Vanguard. I deposited a mid six figure 457b rollover check into my Vanguard IRA using the Vanguard app. The deposit was credited immediately. You don't even have to drive to a brick and mortar storefront, or deal with potential sales pitches. There is, however, a daily deposit limit of $10M using the Vanguard app. If that limit would be a problem for you, I offer my congratulations.In my experience the primary value of Fidelity and Schwab offices is to in-person deposits of large checks (401k rollovers) or other checks that you may not want to mail. Offices can give immediate credit whereas if you deposit my mail it may be a week or two before funds become available in your account.
But no argument that most things are better and easier to do online these days.
Simple fact is you can’t go to a VG office, you can with Fidelity and Schwab, plain and simple. So I redirected the Roth portion and happily went to my local Fidelity office and it was deposited the same day. Note Ascensus-VG will only do checks from a 401k, even to a VG IRA.
Statistics: Posted by Lastrun — Sun Jul 14, 2024 8:51 am — Replies 27 — Views 2177