So even if you have cash in a money market, you can’t transfer it to any bank other than a the original linked bank for a year? What happens if you switch banks? And is it the same for the cash plus account? Just seems a little inconvenient.No. Vanguard puts any money transferred in a state where it can be transferred back only to the originating bank or financial institution, until the money is aged at least 1 year (trading within Vanguard allowed, but cannot redeem). If you want to park money that you may need within the year, such as for living expenses, or house down payment, you are going to be disappointed.How are transfer times to an external bank and hold times for funds pulled to vanguard? Does it let you trade immediately?
Don't take my word for it. Lookup posts by author "Random Poster" for your reading pleasure.
I wouldn't recommend Fidelity either, there is a 12 page thread about Fidelity freezing money, canceling auto pays, etc.
You may be best where you are right now.
Edit: haven't heard anything negative yet from Schwab, so that is an option
Statistics: Posted by MtnTravel — Mon Oct 07, 2024 9:28 pm