Question:
I just helped a family member open a Vanguard account and link their Chase checking account.
At the beginning of the Vanguard account creation process, it asked for the Chase checking account number and routing number. It also asked how much money we wanted to transfer over to fund the Vanguard account, so we specified an amount of $X,XXX.
Within 1-2 days, Vanguard deposited a test amount (a few cents) into the Chase checking account, but Vanguard never asked us to verify the test amount. Then Vanguard took back the test amount and proceeded to get the $X,XXX initial funding amount from the Chase checking account.
Why would Vanguard deposit a test amount if they never intended to verify that test amount with us? How can Vanguard proceed to get the $X,XXX initial funding amount from the Chase checking account if Vanguard never got a chance to verify the test amount?
Thanks.
I just helped a family member open a Vanguard account and link their Chase checking account.
At the beginning of the Vanguard account creation process, it asked for the Chase checking account number and routing number. It also asked how much money we wanted to transfer over to fund the Vanguard account, so we specified an amount of $X,XXX.
Within 1-2 days, Vanguard deposited a test amount (a few cents) into the Chase checking account, but Vanguard never asked us to verify the test amount. Then Vanguard took back the test amount and proceeded to get the $X,XXX initial funding amount from the Chase checking account.
Why would Vanguard deposit a test amount if they never intended to verify that test amount with us? How can Vanguard proceed to get the $X,XXX initial funding amount from the Chase checking account if Vanguard never got a chance to verify the test amount?
Thanks.
Statistics: Posted by teelainen — Thu Jul 11, 2024 12:29 am — Replies 1 — Views 143