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Schwab vs Vanguard Customer Service

I tried to reach Vanguard yesterday and this afternoon and was told that the wait time would be thirty minutes to speak to a representative. Hung up and called Schwab; was speaking a bright and cheerful live rep in two minutes and twenty seconds.
Anyone else have trouble connecting at Vanguard?


  • @larryB A few years ago, I attempted to move some money from Schwab into Vanguard. Vanguard lost my application...twice! Decided it was not worth it and would just pay the TF for Vanguard funds at Schwab.
  • edited December 2015
    As a former brokerage account holder there, I'd say Vanguard's highest and best use is as a spot for holding a low-maintenance portfolio (or sub-portfolio) of Vanguard funds, and that's it. I agree with larry and little5 that the V. customer service and transfer mechanics are pretty poor.
  • Hey little5bee, had the same trouble moving money from Schwab into Vanguard. I gave up in the middle and reversed the whole thing. The second try, several years later, went better( with cash only) went better, but the service is nothing like Schwab. Go Blue!
  • larryB said:

    Go Blue!

    @larryB thank you very much!:)

  • I generally have a very low opinion of Customer Support. I think all corporations have pretty much given up on it, especially given clients can also be really obnoxious. It is a low paying job where CSRs are trained to go through a set of questions no matter what the question.

    Now regarding moving money to Vanguard from ANYWHERE, forget it. Trying to do it yourself I have found impossible. In today's day and age I don't want to talk to a clueless CSR. I just want to do it all by myself.

    I do have an account with Vanguard, but that's the one I opened fresh. About the only thing you can do painlessly at Vanguard. I would gladly take the 0.02 % ER increase if they can improve their Customer support.
  • I called Vanguard yesterday and had about 4 minute wait. Wife moved money there about 1 year ago and had no problem.
  • Customer service is bad everywhere no just discount brokerages. Have you try to resolve computer problem from big box PC manufacturers such as HP and Dell?

    In our experience, cash transfer between brokerages is the easiest - typically takes 3-5 days to complete. Transfer on mutual funds and stocks will take up 10 days to ensure everything is in good order that include copies of most recent statement. Fidelity accepts the electronic version while Vanguard requires the hard copy. Bit old school but I am patient. I believe that is part of the rules imposed on brokerages to prevent money laundering.
  • I have been a Vanguard customer for many years now, and have rarely had any problem with any transaction I wanted to do, or phone rep I was interacting with. Sorry you have had so much trouble; I do not think it is representative of Vanguard, however.
  • I have had excellent customer service with Vanguard and my Scottrade brokerage for over twenty years so I guess it's where you are and when you interact that makes the difference,
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