The fastest way to fund your Vanguard account
You can move money from your bank to Vanguard using electronic bank transfer, which takes one to three business days and costs nothing. Vanguard calls this "bank linking" or "external funding." You give Vanguard your bank account number and routing number, and Vanguard pulls the money directly. This is faster and simpler than mailing a check or using a wire transfer.
The alternative is a wire transfer, which moves money the same day or next business day but usually costs $10 to $25 at your bank. Wire transfers are useful only if you need the money in your Vanguard account urgently or if your bank won't let you set up electronic transfers.
A third option—mailing a check—takes seven to ten business days and requires you to write and mail the check yourself. Vanguard will deposit it once it arrives and clears.
Key Takeaways
- Electronic bank transfer is free, takes one to three business days, and requires you to link your bank account to Vanguard once.
- You will need your bank's routing number and your account number to set up the link, both of which appear on the bottom left of your checks.
- Wire transfers move money faster but cost $10 to $25 at your bank and require you to initiate the transfer from your bank's website or by phone.
- Vanguard may hold new transfers for up to five business days if you are funding an account for the first time, even though the money arrives in one to three days.
How to link your bank account and transfer money electronically
Log into your Vanguard account online or through the Vanguard app. Go to the "Accounts" or "Funding" section—the exact name varies depending on whether you are using the website or mobile app. Look for an option labeled "Add money," "Fund account," or "External transfer."
Vanguard will ask you to enter your bank's routing number and your account number. Both appear on the bottom left of any check you have from that bank. The routing number is the first nine digits; your account number follows. If you do not have a check, you can call your bank or log into your bank's website to find these numbers.
After you enter the numbers, Vanguard will make two small deposits into your bank account—usually $0.01 and $0.02, totaling $0.03. This is Vanguard's way of confirming that the account is real and that you control it. You will see these deposits in your bank account within one to two business days. Log back into Vanguard and enter the two amounts to confirm ownership. Once confirmed, the link is permanent and you can transfer money whenever you want.
To actually move money, select the amount you want to transfer and choose the date. Vanguard will pull the money from your bank account on that date. The transfer usually arrives in your Vanguard account within one to three business days, though Vanguard may hold it for up to five business days if this is your first transfer to that account.
Using a wire transfer when you need money faster
A wire transfer moves money the same day if you initiate it before your bank's cutoff time (usually 2 p.m. or 3 p.m. on business days), or the next business day if you miss the cutoff. This is useful if you need to buy an investment immediately or if you are moving a large sum and cannot wait three days.
To wire money to Vanguard, you will need Vanguard's wire instructions, which include a bank name, routing number, and account number specific to your Vanguard account. Log into Vanguard, find the "Funding" or "Add money" section, and look for "Wire transfer" or "Receive a wire." Vanguard will display the wire instructions on screen. Write them down or take a screenshot.
Call your bank or log into your bank's website and initiate an outgoing wire transfer. You will enter Vanguard's bank details and the amount you want to send. Your bank will charge a fee, usually $10 to $25, which it will deduct from your account. Confirm the wire with your bank—most banks require you to verify the details by phone or email before the wire goes through.
Once your bank sends the wire, it is final. You cannot cancel it. The money will arrive in your Vanguard account within one business day, and usually the same day if you wire before your bank's cutoff.
What happens if you are funding a Vanguard account for the first time
Vanguard may place a hold on your first transfer, even though the money arrives in your account within one to three business days. This hold can last up to five business days. During the hold, you can see the money in your account, but you cannot withdraw it or use it to buy investments.
This hold is a fraud prevention measure. Vanguard uses it to make sure the transfer came from a real bank account and that you are not using stolen banking information. After your first transfer clears, future transfers usually process without a hold.
If you are in a hurry to invest the money, ask Vanguard whether it will waive the hold for your first transfer. Some accounts and account types may have access to for faster processing, though this is not may provide.
Transferring money from a joint bank account or someone else's account
You can only transfer money from a bank account that you own or that lists you as an authorized user. If you are trying to fund your Vanguard account using someone else's bank account—even a spouse's or parent's—Vanguard will reject the transfer when it tries to verify ownership.
If you and someone else own a joint bank account, you can use that account to fund your Vanguard account as long as your name appears on the account. When you link the account, Vanguard will verify your ownership during the confirmation step.
If you want to receive money from someone else to fund your Vanguard account, have them transfer the money to your personal bank account first. Once the money is in your account, you can transfer it to Vanguard.
What to do if your transfer fails or is rejected
A transfer can fail for several reasons: incorrect routing or account number, insufficient funds in your bank account, a closed or frozen bank account, or a mismatch between the name on your bank account and the name on your Vanguard account.
If Vanguard rejects your transfer, it will send you an email explaining why. Check the reason and fix the problem. If the issue is an incorrect account number, unlink the account from Vanguard, re-enter the correct number, and repeat the verification step with the two small deposits. If the issue is insufficient funds, wait until you have enough money in your bank account and try again.
If the name on your bank account does not match the name on your Vanguard account exactly—for example, your bank account says "John Smith" but your Vanguard account says "John Michael Smith"—contact Vanguard to update your account information or contact your bank to update the name on your account. Then try the transfer again.
If you wired money and it did not arrive within one business day, contact Vanguard with your wire confirmation number (which your bank gave you when you sent the wire). Vanguard can trace the wire and tell you where it is.
Frequently Asked Questions
Can I transfer money from a savings account or only a checking account?
You can transfer from either. Vanguard does not care whether the account is a checking account, savings account, or money market account—only that it is in your name and that you can provide the routing number and account number.
How much money can I transfer at once?
Vanguard does not publish a single-transfer limit, but your bank may have one. Check your bank's transfer limits in your online banking settings or call your bank. Most banks allow transfers of $10,000 to $25,000 per day, though this varies.
Do I have to wait for one transfer to finish before I start another?
No. You can initiate multiple transfers on the same day, and they will process independently. However, your bank may have daily or weekly limits on how much you can transfer out, so check with your bank first.
What if I accidentally transfer money to the wrong Vanguard account?
Contact Vanguard immediately. If the money went to another Vanguard account in your name, Vanguard can move it for you. If it went to someone else's Vanguard account, Vanguard will investigate, but recovery is not may provide. This is why it is important to double-check the account details before you confirm a wire transfer.
Is there a fee to transfer money into Vanguard?
Vanguard does not charge a fee for electronic transfers or wire transfers into your account. Your bank may charge a fee for outgoing wire transfers, but electronic transfers are free at most banks.