Darned COVID!

Seems to be bringing so much to a crawl.

Trying to transfer funds from Fidelity to Vanguard for better interest rates on some fixed income holdings.

Then decided to by a Scat. Now need to wire funds from Vanguard to the dealer.

Can’t seem to get the Fidelity to Vanguard move to finalize.

I’ve tried calling both Vanguard and Fidelity to check progress.

After an initial phone hold of some 45 min to each, no one can find the check status. They used to answer right away, and deal with any issues, requests, or concerns.6

Mailed the check 8/19. I figure it was received by Vanguard around 8/24.

My adjoining state dealer is not pressing for the finalization ( 1k down on MasterCard).

But I’m a “snap your fingers and get it done now” kind of guy. .

Point being, lots of things seem to be moving so slow right now ...

I just bought a hellcat charger, had my bank overnight me a cashiers check, I sent it overnight it to the seller.

Private seller deal (dealer owner), 4 days from deal to delivery car traveled 670 miles enclosed.

Keep at it.

It will work. ITS YOUR MONEY, dont let them forget it.

Fidelity sent a check.... REALLY...

All that should be done electronically via ACAT and take a few days at worst including clearing time.

Just like any bank or other financial institution; You give them your money and then they tell what you have to do to get it back and when you can get it back. Or in this case, maybe not. What a terrible system.

Ever see the movie 'Blow'? Where Johnny Depp's character goes into the offshore bank with his bankbook to get his millions of dollars and is told that his money has been 'Federalized'? Poof, gone.

Just think what it will be like if there were to be a very serious national financial set-back. They wouldn't even answer the phone. Then what do you do? I don't think most people have given any thought how financially vulnerable they really are. No matter how much money they have. Or rather how much of your money they have.

Once you give them your money, they have more rights to it than you do.

Some are weird or have things they will and wont do.

My bank is 150 miles away from me, in my case they would not wire money to the guy if I didnt show up in the bank to do it and they know me well. They would not send a cashiers check directly to the seller, but they did overnight it to me to forward.

Does any of us really know what are the rules vs laws, no they will never tell us. Think about it, these folks make there living off others money,

Those are not banks, they are brokerage/investment houses with banking services which have an available system to transfer quickly. Got to keep that float!

Fidelity is a group of knuckleheads from what I've seen lately. Wouldn't surprise me if they ordered rolls of pennies to make the transfer. Dingbats.

It's okay, It'll miraculously go away one day.

Don't forget about the holding time. I sold a truck, and put a wad of cash in my local bank. I can't get my cash back for at least 3 days! They call it processing time. Now, I can deposit that cash in my savings account, then the next day I can transfer that money from the savings account and into a checking account and write a check and all is good, as long as I don't want cash. After 3 days, I can get up to $5,000 cash, but if I have available and want more cash, I need to let them know 24 hours ahead of time. Then I can get all the cash I told them I wanted. Unfortunately, at the end of the year, there may be some tax issues when you start playing with large quantities of money. The government thinks you may be trying to cheat them. Gene

Imagine that