Search found 148 matches

by VictorStarr
Sat Apr 03, 2021 10:44 pm
Forum: Personal Finance (Not Investing)
Topic: A true zero wire transfer fee option
Replies: 22
Views: 1852

Re: A true zero wire transfer fee option

Schwab does 3 free domestic wires per quarter if your balance is over $100k. I’ve used it successfully. Does the $100k have to be in the Schwab checking account, or can it be in a Schwab Money Market? I always did wire transfer from a brokerage account, the wire fee was charged and waived on the da...
by VictorStarr
Sat Mar 13, 2021 10:46 pm
Forum: Personal Finance (Not Investing)
Topic: Fidelity as a one stop shop
Replies: 1842
Views: 273824

Re: Fidelity as a one stop shop

Today I noticed that Fidelity increased cash withdrawal limit for my individual CMA from $1020 to $1530.
I have another CMA, joint account, with ATM limit of $1000 that did not change.
Does anybody else experienced unasked changes in debit card limits?
by VictorStarr
Fri Mar 05, 2021 6:44 am
Forum: Personal Finance (Not Investing)
Topic: Fidelity as a one stop shop
Replies: 1842
Views: 273824

Re: Fidelity as a one stop shop

I recently deposited a Cashier's check to my cma account but it took 4 business days for the balance to become available to withdraw. With most other banks, I'm able to withdraw next business day on a cashier's check. Is this normal? I've been actively using my cma for over 2 years now. I did not d...
by VictorStarr
Wed Mar 03, 2021 12:37 am
Forum: Personal Investments
Topic: Funding Fidelity solo 401k in person rather than ACH
Replies: 39
Views: 2271

Re: Funding Fidelity solo 401k in person rather than ACH

Bumping this thread after driving 45 minutes RT to a Fidelity branch yesterday to make a deposit, only to find out they closed early due to some snow. I've done the transfer by phone, but lately I've been on hold for 30+ minutes to do that. I've tried doing it by mail but it was two weeks before th...
by VictorStarr
Wed Feb 24, 2021 1:19 am
Forum: Personal Finance (Not Investing)
Topic: Disturbing experience with Ally Bank
Replies: 221
Views: 25806

Re: Disturbing experience with Ally Bank

Marseille07 wrote: Wed Feb 24, 2021 1:12 am
VictorStarr wrote: Wed Feb 24, 2021 1:06 am
- and the killer drawback for me - lack of 2FA app, I would not keep any substantial amount at institution that used SMS for 2FA.
EDIT to add: it appears Ally supports 2FA, they call it Security Code delivery.
Ally Security Code delivery uses SMS for 2FA.
by VictorStarr
Wed Feb 24, 2021 1:06 am
Forum: Personal Finance (Not Investing)
Topic: Disturbing experience with Ally Bank
Replies: 221
Views: 25806

Re: Disturbing experience with Ally Bank

Why do you need "a genuine checking account"? What is so special about it? I connected my Fidelity CMA account to multiple banks, brokerages and fintech accounts. Instead of selecting from the list of institutions you enter routing and account number. CMA gives you free wires, $200K limit...
by VictorStarr
Wed Feb 24, 2021 12:49 am
Forum: Personal Finance (Not Investing)
Topic: Disturbing experience with Ally Bank
Replies: 221
Views: 25806

Re: Disturbing experience with Ally Bank

Did Fidelity think you have enough money? I used to have a checking account at a big international bank and every year when I got my bonus deposited, I would get a call from them offering wealth management services :annoyed . After I moved to an area with no nearby branches, I closed that account a...
by VictorStarr
Wed Feb 17, 2021 10:14 pm
Forum: Personal Finance (Not Investing)
Topic: Disturbing experience with Ally Bank
Replies: 221
Views: 25806

Re: Disturbing experience with Ally Bank

What do you use? I just arrived at Ally after a crazy quest of Chase, Fidelity CMA, Citibank where I got locked and vowed to never use them again. I'm happy with Ally so far but expecting a large sum like your CD, and your post is making me concerned. Also, if Ally is unreliable, could we do ACH pu...
by VictorStarr
Wed Feb 17, 2021 10:09 pm
Forum: Personal Finance (Not Investing)
Topic: Disturbing experience with Ally Bank
Replies: 221
Views: 25806

Re: Disturbing experience with Ally Bank

What do you use? I just arrived at Ally after a crazy quest of Chase, Fidelity CMA, Citibank where I got locked and vowed to never use them again. I'm happy with Ally so far but expecting a large sum like your CD, and your post is making me concerned. Also, if Ally is unreliable, could we do ACH pu...
by VictorStarr
Sun Feb 14, 2021 4:47 pm
Forum: Personal Finance (Not Investing)
Topic: Fidelity Cash Management
Replies: 43
Views: 4023

Re: Fidelity Cash Management

If you just use the card for the ATM functions with a separate CMA subaccount only for these functions, there will be no "snowball" effect. Use other CMA subaccounts for other functions. In addition to having a separate CMA account you can lock a debit card. My debit card is almost always...
by VictorStarr
Sun Feb 14, 2021 4:36 pm
Forum: Personal Finance (Not Investing)
Topic: Fidelity Cash Management
Replies: 43
Views: 4023

Re: Fidelity Cash Management

If you just use the card for the ATM functions with a separate CMA subaccount only for these functions, there will be no "snowball" effect. Use other CMA subaccounts for other functions. In addition to having a separate CMA account you can lock a debit card. My debit card is almost always...
by VictorStarr
Thu Feb 04, 2021 1:07 am
Forum: Personal Investments
Topic: Heads up! Fidelity 2FA Temporarily Disabled!
Replies: 38
Views: 3173

Re: Heads up! Fidelity 2FA Temporarily Disabled!

If you're that concerned and are creating a thread over the matter, I would recommend moving your holdings to another institution that better suits your security requirements. OP has completely legitimate concern about Fidelity security. Your "recommendation" did not bring anything constr...
by VictorStarr
Sun Jan 31, 2021 11:17 pm
Forum: Personal Finance (Not Investing)
Topic: Fidelity as a one stop shop
Replies: 1842
Views: 273824

Re: Fidelity as a one stop shop

Lately, I faced a problem of transfering money to accounts that I do not own (my adult children). If you co-own an account you can use ACH transfer, but it is not possible to link account that does not belong to you. I found that I can use BillPay to transfer money to arbitrary Fidelity accounts (a...
by VictorStarr
Fri Jan 29, 2021 11:20 pm
Forum: Personal Finance (Not Investing)
Topic: Fidelity as a one stop shop
Replies: 1842
Views: 273824

Re: Fidelity as a one stop shop

Yes, sure one can freely transfer money between individual, join or trust accounts that belongs to the same individual. I specifically referred to case of transferring money to Fido account that belongs to other individual. In my case, I wanted to transfer money to account that belongs to my adult ...
by VictorStarr
Wed Jan 27, 2021 2:40 am
Forum: Personal Finance (Not Investing)
Topic: Ugh Fidelity! May have to leave!
Replies: 92
Views: 8377

Re: Ugh Fidelity! May have to leave!

3) Did you push funds from BoA to Fidelity or pull from Fidelity? When I push money to Fidelity, funds usually are available next business day, if pull - there is a delay of 3-5 days. It was a pull from Fidelity. Always use push. There’s no hold on the money pushed in. It is true for Fidelity and i...
by VictorStarr
Wed Jan 27, 2021 2:27 am
Forum: Personal Finance (Not Investing)
Topic: Fidelity as a one stop shop
Replies: 1842
Views: 273824

Re: Fidelity as a one stop shop

You should be able to set up Withdrawals (recurring) on the website. I’ve had them set up from my CMA to taxable and 529 accounts no problem at all. I do believe that is correct--I don't believe a form/medallion guarantee is needed for recurring withdrawals to Fido accounts. I was referring to auto...
by VictorStarr
Tue Jan 26, 2021 7:48 pm
Forum: Personal Finance (Not Investing)
Topic: Fidelity as a one stop shop
Replies: 1842
Views: 273824

Re: Fidelity as a one stop shop

To get started, I filled out the "EFT Authorization Form" and obtained a medallion signature guarantee. On this form you can select "3rd Party EFT Authorization" Note, this is for brokerage or CMA accounts only. In my case I waited a couple weeks without hearing from Fidelity, s...
by VictorStarr
Tue Jan 26, 2021 7:38 pm
Forum: Personal Finance (Not Investing)
Topic: Fidelity as a one stop shop
Replies: 1842
Views: 273824

Re: Fidelity as a one stop shop

I've looked at the Fidelity site and also googled w/o success. I can EFT funds from my BOA checking to a 3rd party account at a different bank. Can I do the same from Fidelity? With routing and account numbers, can I EFT from my Fidelity account to someone else at BOA? Online, w/o calling? No, you ...
by VictorStarr
Tue Jan 26, 2021 7:31 pm
Forum: Personal Finance (Not Investing)
Topic: Ugh Fidelity! May have to leave!
Replies: 92
Views: 8377

Re: Ugh Fidelity! May have to leave!

1) It is very irritating, Fidelity has to resolve it.

3) Did you push funds from BoA to Fidelity or pull from Fidelity? When I push money to Fidelity, funds usually are available next business day, if pull - there is a delay of 3-5 days.
by VictorStarr
Tue Jan 26, 2021 4:27 am
Forum: Personal Finance (Not Investing)
Topic: Fidelity as a one stop shop
Replies: 1842
Views: 273824

Re: Fidelity as a one stop shop

I've looked at the Fidelity site and also googled w/o success. I can EFT funds from my BOA checking to a 3rd party account at a different bank. Can I do the same from Fidelity? With routing and account numbers, can I EFT from my Fidelity account to someone else at BOA? Online, w/o calling? No, you ...
by VictorStarr
Thu Jan 21, 2021 1:18 pm
Forum: Personal Finance (Not Investing)
Topic: Fidelity as a one stop shop
Replies: 1842
Views: 273824

Re: Fidelity as a one stop shop

Hey guys, am I the only one who hates the new and "improved" BillPay? I understand companies make constant changes to stay on top of things, but why change something that's really good to something that's significantly worse? What's the driving force here? I agree that new BillPay is way ...
by VictorStarr
Wed Jan 20, 2021 12:42 am
Forum: Personal Investments
Topic: Need to unfreeze credit to open Fidelity account?
Replies: 7
Views: 813

Re: Need to unfreeze credit to open Fidelity account?

Fidelity uses Early Warning (EWS) - https://www.earlywarning.com/ . Each time I opened new account with Fidelity, Fidelity sent request to EWS. Fidelity, also shares information with EWS about CMA and Brokerage accounts with banking features (such as check writing). I am not sure that you can freeze...
by VictorStarr
Sat Jan 16, 2021 6:43 pm
Forum: Personal Finance (Not Investing)
Topic: Anyone Use a 3rd Party Bill Pay? (non-business)
Replies: 22
Views: 1199

Re: Anyone Use a 3rd Party Bill Pay? (non-business)

I have a problem with sending electronic checks. On 2 occasions, I had set up a payment to be paid several weeks in advance and the checks never arrived. The problem is that, when the check is sent, it is debited from your account, but you have no way of knowing if the recipient received and cashed...
by VictorStarr
Fri Jan 15, 2021 1:58 am
Forum: Investing - Theory, News & General
Topic: Can anyone reach Vanguard on the phone?
Replies: 173
Views: 14211

Re: Can anyone reach Vanguard on the phone?

Over the last four weeks I have to call Vanguard multiple times because they made a mistake dividing account. I certainly could reach Vanguard. Typical wait time was 35-50min, every third call was dropped. I was never offered a call back option. I used Flagship phone number but I am not sure it had ...
by VictorStarr
Fri Jan 15, 2021 1:21 am
Forum: Personal Finance (Not Investing)
Topic: What can we do about VG service
Replies: 11
Views: 1200

Re: What can we do about VG service

And I should say that I am retired and no longer in the accumulation phase. And most of my VG investments are in taxable and date from 2009, so I would take a big tax hit if I moved the money elsewhere, especially since I live in California. There is no tax consequences if you transfer your investm...
by VictorStarr
Thu Jan 14, 2021 9:48 pm
Forum: Personal Finance (Not Investing)
Topic: Fidelity as a one stop shop
Replies: 1842
Views: 273824

Re: Fidelity as a one stop shop

This is from page 3 of this thread: You need a regular brokerage account and have all of your deposits go into there. You can then setup cash manager to automagically pull from that when you need cash in the CMA. Or what I do is use the regular brokerage account for everything except ATM withdrawal...
by VictorStarr
Thu Jan 14, 2021 6:03 pm
Forum: Personal Consumer Issues
Topic: Password manager
Replies: 94
Views: 8166

Re: Password manager

Gadget wrote: Tue Jan 12, 2021 4:15 pm I'd recommend 1Password if you want the most spouse friendly one that is really easy to share vaults/passwords. And you don't mind paying for one.
+1
by VictorStarr
Wed Jan 13, 2021 9:00 pm
Forum: Personal Finance (Not Investing)
Topic: Fidelity 2% Credit Card: [Update on Experiences, drops two benefits]
Replies: 167
Views: 12461

Re: Fidelity 2% Credit Card: Update on Any Issues or Experiences

Fidelity Visa is a solid card. It is issued by ELAN, which is a 2nd tier CC provider. As other people mentioned the charge dispute process is not so great. I had one negative experience with dispute resolution and now do not use this car for travel or high risk charges. Web user interface very dated...
by VictorStarr
Tue Jan 12, 2021 9:18 pm
Forum: Personal Finance (Not Investing)
Topic: Vanguard screwed up dividing taxable account
Replies: 9
Views: 1433

Re: Vanguard screwed up dividing taxable account

UPDATE: After waiting for two more days (a total of five business days) I did not get any feedback from Vanguard. So I called Vanguard and after a 50 minutes wait I talked with a CS representative. He consulted with another department, admitted that an error was made and promised that case was open ...
by VictorStarr
Tue Jan 12, 2021 2:50 pm
Forum: Personal Finance (Not Investing)
Topic: Ugh Vanguard! May have to leave. They made a huge error.
Replies: 223
Views: 25286

Re: Ugh Vanguard! May have to leave. They made a huge error.

BolderBoy wrote: Tue Jan 12, 2021 1:49 pm Please. If you hate VG vote with your feet. I'll stay behind and wave goodbye.
Are suggesting that OP have to leave Vanguard before resolving an error made by Vanguard?
I think it is up to OP to decide where he want to keep his investments.
by VictorStarr
Mon Jan 11, 2021 6:32 pm
Forum: Personal Finance (Not Investing)
Topic: Need to deposit cash
Replies: 11
Views: 1141

Re: Need to deposit cash

You can deposit cash at your credit card issuer's branch by paying your credit card bill.
Chase, Capital One, Citibank, Bank of America, Wells Fargo, and U.S. Bank accept cash payments for credit card bills.
by VictorStarr
Sun Jan 10, 2021 10:14 pm
Forum: Personal Finance (Not Investing)
Topic: Ugh Vanguard! May have to leave. They made a huge error.
Replies: 223
Views: 25286

Re: Ugh Vanguard! May have to leave. They made a huge error.

In my experience, quality of service is somewhat correlated with overall happiness and loyalty of employees. Here are company ratings by employees from Glassdoor site: Vanguard Schwab Fidelity Review's rating: 3.4 3.8 4.1 Recommend to a Friend: 55% 71% 83% Approve CEO: 74% 89% 94% As you can see Van...
by VictorStarr
Sun Jan 10, 2021 9:33 pm
Forum: Personal Finance (Not Investing)
Topic: Fidelity CMA Changes Coming?
Replies: 11
Views: 1278

Re: Fidelity CMA Changes Coming?

I have been seeing this notification for the last 3-4 months. Back in November Fidelity completely overhauled BillPay. They make it visually more appealing but less functional (at some point it was impossible to modify or remove payee, fortunately they fix this issue). I guess Fidelity will remake t...
by VictorStarr
Sun Jan 10, 2021 6:19 pm
Forum: Personal Finance (Not Investing)
Topic: Vanguard screwed up dividing taxable account
Replies: 9
Views: 1433

Re: Vanguard screwed up dividing taxable account

I have had nothing but positive experience with VG but am tempted to leave based on the number of complaints and lack of anything keeping me there. If your needs are simple and you can do everything online without talking to CS, Vanguard does provide a reasonable service. Unfortunately for many tas...
by VictorStarr
Sun Jan 10, 2021 6:12 pm
Forum: Personal Finance (Not Investing)
Topic: Vanguard screwed up dividing taxable account
Replies: 9
Views: 1433

Re: Vanguard screwed up dividing taxable account

After sorting out mess with taxable we have to divide IRA and 529 accounts. I would do everything in writing. It is what I did. I sent a message to Vanguard with detailed instructions but I never got a response. So we called Vanguard and gave instructions over the phone. At that time I was pleasant...
by VictorStarr
Sun Jan 10, 2021 5:56 pm
Forum: Personal Finance (Not Investing)
Topic: Vanguard screwed up dividing taxable account
Replies: 9
Views: 1433

Re: Vanguard screwed up dividing taxable account

A friend had a similar problem two years ago. He finally gave up trying to sort it out with the front line CS folks and wrote a detailed, well-organized (and calm) letter to the CEO. Inside of a week he got a call from a woman who IDed herself as a "fixer" who worked out of the CEO's offi...
by VictorStarr
Sun Jan 10, 2021 3:49 pm
Forum: Personal Finance (Not Investing)
Topic: Ugh Vanguard! May have to leave. They made a huge error.
Replies: 223
Views: 25286

Re: Ugh Vanguard! May have to leave. They made a huge error.

My point in posting this info is just to show that while it may be $6.3billion or $7.7billion in revenues, that reported number is still HALF of what Blackrock reported, and about a THIRD of what Fidelity reported. Low cost may come with some snags I suppose. Vanguard and Fidelity per employee reve...
by VictorStarr
Sun Jan 10, 2021 1:28 am
Forum: Personal Finance (Not Investing)
Topic: Ugh Vanguard! May have to leave. They made a huge error.
Replies: 223
Views: 25286

Re: Ugh Vanguard! May have to leave. They made a huge error.

I had to transfer 47.6% of my rollover IRA as part of the equitable distribution agreement of my divorce. The agreement and the form which I filled out were very clear! 47.6% of 560k plus (whatever the market value is on that day), instead they gave her 76%!! No one even called my to clarify. Has a...
by VictorStarr
Sun Jan 10, 2021 1:20 am
Forum: Personal Finance (Not Investing)
Topic: Vanguard screwed up dividing taxable account
Replies: 9
Views: 1433

Vanguard screwed up dividing taxable account

Two weeks ago I requested Vanguard to divide funds and ETFs in taxable trust accounts into two individual accounts in the name of my ex-wife and I. I specifically asked Vanguard to split taxable funds evenly - for each fund/ETF divide each lot (SpecID) 50:50. The CS representative assured me that th...
by VictorStarr
Sat Jan 09, 2021 4:48 pm
Forum: Personal Finance (Not Investing)
Topic: Fidelity as a one stop shop
Replies: 1842
Views: 273824

Re: Fidelity as a one stop shop

That happens for me only for checks written on the account to withdraw funds, and no longer does for checks deposited into the account. The same for me, I see images of my checks but not checks deposited into my accounts (using mobile deposit). It is rather inconvenient, from time to time I would l...
by VictorStarr
Fri Jan 08, 2021 7:05 am
Forum: Personal Investments
Topic: Vanguard: Strange Cost Basis in Taxable Account
Replies: 14
Views: 951

Re: Vanguard: Strange Cost Basis in Taxable Account

Based on your follow up comments, I think you had used the average basis when you sold shares because that was Vanguard’s default method since the Stone Age. And once the average basis was used, all shares that were in the average should have the same cost basis even if you did switch to another co...
by VictorStarr
Fri Jan 08, 2021 6:32 am
Forum: Personal Investments
Topic: Vanguard: Strange Cost Basis in Taxable Account
Replies: 14
Views: 951

Re: Vanguard: Strange Cost Basis in Taxable Account

strafe wrote: Fri Jan 08, 2021 5:58 am Have you sold any of the shares in these funds at any point?
Yes, I did sell shares of this fund.
by VictorStarr
Fri Jan 08, 2021 6:31 am
Forum: Personal Investments
Topic: Vanguard: Strange Cost Basis in Taxable Account
Replies: 14
Views: 951

Re: Vanguard: Strange Cost Basis in Taxable Account

Is your account on legacy mutual fund platform or the new brokerage? Have you ever used the average basis when you sold shares? Yes, this account on mutual fund platform. I may used average cost basis but I am not sure. I have been holding this fund for a long time (12-15 years) when it was called ...
by VictorStarr
Fri Jan 08, 2021 6:25 am
Forum: Personal Investments
Topic: Vanguard: Strange Cost Basis in Taxable Account
Replies: 14
Views: 951

Re: Vanguard: Strange Cost Basis in Taxable Account

Functionally, what you are saying doesn't makes sense to me and neither does the information you posted so I would call Vanguard for clarity. You say you think they are using Average Cost Basis but then the box above states SpecID, which is it? Theoretically there is no difference between AvgCost a...
by VictorStarr
Fri Jan 08, 2021 5:14 am
Forum: Personal Investments
Topic: Vanguard: Strange Cost Basis in Taxable Account
Replies: 14
Views: 951

Vanguard: Strange Cost Basis in Taxable Account

Today I encountered strange cost basis in a mutual fund in taxable account that I can not explain. Here are details: VTMGX Vanguard Developed Markets Index Fund Admiral Shares Specific identification (SpecID) Date acquired | Quantity | Cost per share -------------------------------------------------...
by VictorStarr
Thu Jan 07, 2021 3:42 am
Forum: Personal Investments
Topic: Can I create generational wealth?
Replies: 193
Views: 19395

Re: Can I create generational wealth?

I very recently spent a good deal of time reading and researching this topic as our family has been fortunate in business and we are trying to figure out the best way to handle a fairly substantial amount of money. I will share here the sources I read (several of which have been shared already earl...
by VictorStarr
Wed Jan 06, 2021 3:25 pm
Forum: Personal Investments
Topic: Poor service at Vanguard making me re-think my decision
Replies: 153
Views: 15456

Re: Poor service at Vanguard making me re-think my decision

I know that a few brokerages offer automatic reinvestment of distributions, but don't believe that "most" do. Last I heard Fidelity permits purchase of fractional shares but not automatic reinvestment. Fidelity certainly supports automatic reinvestment of distributions and dividends for E...
by VictorStarr
Tue Jan 05, 2021 9:58 pm
Forum: Personal Investments
Topic: Poor service at Vanguard making me re-think my decision
Replies: 153
Views: 15456

Re: Poor service at Vanguard making me re-think my decision

Vanguard and Fidelity per employee revenue is very close, around $350-360K/year. Schwab generates substantially more - $518K/year per employee. Fidelity revenue allows them to invest into customer service and technology (internal systems, web site and phone app), have profit margin of 38% and make J...
by VictorStarr
Sun Jan 03, 2021 11:13 pm
Forum: Personal Finance (Not Investing)
Topic: Is Being a Private Banking Client Worth it?
Replies: 151
Views: 54788

Re: Is Being a Private Banking Client Worth it?

Talk about a 4 year necro-post revival. I recently was upgraded to Sapphire Checking. The benefits are a 'nice to have' for me. But if it improves my relationship with the bank, then why not. What is here for you in improved "relationship with the bank"? Virtually all benefits that come w...
by VictorStarr
Sun Jan 03, 2021 10:16 pm
Forum: Personal Investments
Topic: Vanguard Tax Managed Small Cap Fund
Replies: 15
Views: 1404

Re: Vanguard Tax Managed Small Cap Fund

I have been having Vanguard Tax Managed Small Cap Fund (VTMSX) in my taxable account for last 15 years. I would not buy it today - VTMSX is not available as ETF. This makes this fund less portable between major brokerages. Even if you are happy with Vanguard today you may wish to move to different b...