Personal Investments • Re: Hearing Horror Stories that Vanguard Doesn't Let You Withdraw Your Money From New Brokerage Account

I called back and asked for more clarification. I was told the holds I experienced were only for "new" accounts and the holds aren't new.

Funds can only be transferred back to the originating source within the first 60 days (can be manually overriden)
No transfers to another institution within the first year (can be manually overridden)
Seven day hold on new deposits

After the 1st year, it's no longer a "new" account.

I asked if it was documented somewhere, but the agent wasn't able to point me to a specific document.

I failed to mention in my post about the cashier's check that I opened a separate joint brokerage account to deposit the funds into. I didn't realize it was considered new even though I have multiple other accounts with VG that have been in place for many years. Sorry for any confusion.

Since Vanguard forced us all to move to brokerage accounts then everyone was NEW!

Not true. I had no restrictions on my account after converting to the brokerage platform.

Yes, it is true. Read the post above. All accounts less than a year old are considered NEW by Vanguard.

But not accounts that are converted from the mutual fund only platform to the brokerage account platform. If you have evidence from Vanguard to the contrary, please provide it.

Statistics: Posted by anagram — Thu May 09, 2024 12:41 pm