No need to move the funds to fidelity.Fraud can happen anywhere, and fidelity is no worse than any other bank, I would assume.
I would not bother having a suboptimal vanguard cash account when I could just maximize a money market elsewhere.
VYFXX NY and US tax exempt munis
VUSXX state and local tax exempt treasuries
Both have lower ERs than their Fidelity counterparts. Can ACH funds for bill pay.
If you would use the Fidelity treasury only or NY exempt fund you still would have to move funds to a core position to pay bills, though some funds do support an auto-liquidate function.
I may have misunderstood. I thought the OP was trying to use a cash plus account, and I assumed cash plus accounts only had cash as an option, not options like VYFXX and VUSXX. Was that a recent change, or always the case? And they auto-liquidate now?
The nice thing about Fidelity, to me, was that the money markets auto liquidate so I never had to manually do anything to do automatic payments for bills. The money just sits in the fund that gives me the best after-tax yield and liquidates to pay my mortgage, utilities, credit card etc.
Statistics: Posted by muffins14 — Tue Jul 02, 2024 3:04 am