VanguardAdvantage and BillPay Going Away?

[TromboneAl]

I got a letter from Vanguard saying that VanguardAdvantage is being discontinued.

It's my understanding that I will no longer be able to use Vanguard's BillPay.

Is that right?

My system has been to use Vanguard's BillPay for large expenses, such as the monthly credit card payments and my bank's BillPay for other expenses.

[pb4uski]

Yes, it is right. It was getting so little use that they decided to get rid of it.

https://www.investmentnews.com/artic...gement-service

I wasn't using it but for big bills I just do a special transfer to checking and then pay out of that.... easier for me.

[tulak]

Fidelity can be a good alternative if it’s convenient.

I’m in the process of moving all my checking to a Fidelity Brokerage account. The balance is automatically in an MM fund that yields 2%+ and you have all the features of a regular checking account. Well, maybe you can’t write checks. I don’t write checks, so I didn’t bother to see if it’s possible.

[Sunset]

I guess since they never told me about it, I never used it, so it's my fault.

I'll just keep transferring $$$ to my bank which is from where I pay all my bills, except taxes of course.

[gwraigty]

Quote:

Originally Posted by tulak Fidelity can be a good alternative if it’s convenient. I’m in the process of moving all my checking to a Fidelity Brokerage account. The balance is automatically in an MM fund that yields 2%+ and you have all the features of a regular checking account. Well, maybe you can’t write checks. I don’t write checks, so I didn’t bother to see if it’s possible.

You can get checks for a Fidelity brokerage as well as their Cash Management Account. Both accounts can also be used for online billpay.

[KB]

I got an email from VG on 2/28/2019 telling me they were closing the VanguardAdvantage accounts in July. Here is the Faq on it.

https://vanguard.com/pdf/PVPDFCL_022019.pdf

[PatrickA5]

I opened a cash management account at Fidelity last week and will give them a try. I really wasn't using my VG Advantage account as a bill paying account, but might give the Fidelity CMA a try. Right now, I use a local bank for all of my bill paying, but it's a little bit of a pain to have to transfer money a couple of times a month to fund it.

[ownyourfuture]

Love Fidelity BillPay
Visa, MasterCard, American Express, & Chase bank (Car Loan) all paid from there.

[tulak]

Quote:

Originally Posted by gwraigty You can get checks for a Fidelity brokerage as well as their Cash Management Account. Both accounts can also be used for online billpay.

That’s good to know.

I remember looking at the cash management account, but didn’t see any real benefit over that account vs a brokerage account. If I remember correctly, the only difference was the insurance, which is something that doesn’t worry me.

[tulak]

Quote:

Originally Posted by ownyourfuture Love Fidelity BillPay Visa, MasterCard, American Express, & Chase bank (Car Loan) all paid from there.

I have the money pulled from Fidelity for all my bills. It’s easier for bills that vary month to month, such as credit cards. I’m lazy that way and like to have this automated as much as possible.