We are in the process of closing conventional real estate financing on a property. The bank requires documentation for not only what funds you are using for your downpayment but also on every step that the dollars travel to escrow. In our case, I used funds from a partial sale of a short term muni bond fund. These funds were then ACH to a local commercial bank where I would draw a cashier check for the closing.
Financing bank's underwriter would not accept a screen shot of the account history showing funds being ACH to my commercial bank. I emailed my Fido rep and requested an email detailing the transfer that showed all the relevant info like account number, funds, and destination bank and date.
Fido is not allowed to send an unsecure email with that info. Rather just leave me hanging, I got a call from the rep and worked out the solution for them to fax the info to my bank. The Fido rep even called a second time prior to faxing to confirm the message text in detail and insure it would meet my needs.
Prior experiences with Vanguard reps would have left me at the first step--"sorry we can not email you that info--have a nice day".
Consistently, I find my Fidelity experiences are with reps who work proactively to find a way to actually help you versus my Vanguard experience of being told which "rule" does not allow them to address the issue .
Don't get me wrong Vanguard has some great funds, BUT their reps do not have a clue when it comes to helping a client with anything out of the norm.
Nwsteve
Financing bank's underwriter would not accept a screen shot of the account history showing funds being ACH to my commercial bank. I emailed my Fido rep and requested an email detailing the transfer that showed all the relevant info like account number, funds, and destination bank and date.
Fido is not allowed to send an unsecure email with that info. Rather just leave me hanging, I got a call from the rep and worked out the solution for them to fax the info to my bank. The Fido rep even called a second time prior to faxing to confirm the message text in detail and insure it would meet my needs.
Prior experiences with Vanguard reps would have left me at the first step--"sorry we can not email you that info--have a nice day".
Consistently, I find my Fidelity experiences are with reps who work proactively to find a way to actually help you versus my Vanguard experience of being told which "rule" does not allow them to address the issue .
Don't get me wrong Vanguard has some great funds, BUT their reps do not have a clue when it comes to helping a client with anything out of the norm.
Nwsteve