We followed all the instructions to open the business account. It was Vanguard's failure to not contact us when they needed something else or did not follow through on what they promised to do.Don't get stuck on having to use Vanguard nor stuck on VUSXXResults from 2 hours and 15 minutes from when I made my phone call to when it ended.
Spoke to 5 people.
1. Got verification that once you get your business / organization account all is the same as having a personal account. You go to the same login page and enter user name / password the same way we all do.
2. Once you are logged in ... it'd identical to what we experience as personal account holders.
3. Told that there'd be a 7-day calendar hold on money coming into the account (even if via ACH).
4. As detailed above encountered some ridiculousness in what the a few of the customer representatives wanted us to do.
5. Created another topic here asking for experience / knowledge from those who have or had business / organization accounts with either Vanguard or Fidelity. I have a much higher trust level here for what certain people say than what a customer representative might say. Especially when they cannot provide it to me in writing.
6. Preference for the many reasons stated is to stay with all the knowns involved with Vanguard as opposed to ALL the unknowns regarding Fidelity.
Here are instructions online to open a business account at Vanguard.
https://investor.vanguard.com/accounts- ... %20require:
Etrade allows free trades to buy/sell VUSXX and they also allow business accounts
https://us.etrade.com/forms-applications
Finally ANY broker that has good service for business accounts would offer the many excellent ETF alternatives to VUSXX.
I stopped using VUSXX due to the ability to hold at a broker of my choice, and now use funds like SGOV, XHLF, or CLIP to own tbills at same or lower ER than VUSXX.
This is a really easy problem to solve and sounds like you have spent many hours on it already.
Don't call Vanguard, either follow their online instructions or try another broker.
For the record, I contacted Vanguard this week on another topic, and they got back to me fairly quickly with the correct answer to my question, on a somewhat less common request that is not serviced online. I am happy with their service, but I also used to use Etrade and was happy with them too.
The focus with opening the account with Vanguard is that myself, the owner, the bookkeeper, all have accounts with Vanguard and own VUSXX thus once we get the business access we will all know how to do things without having to learn anything else.
Last piece of news was this week Vanguard requesting a letter which was sent yesterday. We shall see if that was finally the last step.
Getting involved with another brokerage would require doing the application after gathering all the information that brokerage required, hoping that they set up an account, learning how to do things at that brokerage.
I'd be hesitant to use any of SGOV, XHLF, or CLIP, given that none has been around prior to 2020. I assume VUSXX drawfs each of them in terms of assets size?
Statistics: Posted by yankees60 — Wed Jan 29, 2025 7:32 pm