Can't add Wise.com account to Vanguard

Hmm, Durhamlad, I read your response re IRA distributions being taxed at 30% if there is an overseas address, but what if I have a US mailing address but the bank is WISE (opened today) and I'm in UK?

No problem.  I’ve done IRA distributions each year for a while and it is your address with Vanguard that is the issue, not Wise.  Your Wise USD account has a US address anyway.  Your GBP Wise account if you have one has a London address.

This is all very strange, I think the idea that Vanguard is blocking the routing number may have some merit

I have just had an online chat with Vanguard and their representative assures me they don’t block banks.

I have informed Wise of this as I am baffled.

It's possible this is an old fashioned bug in Vanguard. They added the option to do some type of direct bank linking, with a fallback to manually adding the account. I wonder if this has introduced a problem. (I've heard nothing back from Vanguard.)

I'm considering opening a Revolut account and seeing if I can add that to Vanguard.

Yesterday I initiated a transfer from Vanguard to my newly update Wise USD account. It arrived today, app notification, and I then transferred it to my UK bank which took less than a minute.

FYI/Update. I've exchanged secure messages with vanguard, but they've been useless so far.

I opened a Resolut account in a few minutes and added that to Vanguard without error.

FYI/Update. I've exchanged secure messages with vanguard, but they've been useless so far.

I opened a Resolut account in a few minutes and added that to Vanguard without error.

Good info.  Can I assume you mean a Revolut account rather than Resolut?

It is rated very highly on this website

https://top10mobilebanks.com/best-mobile-banks-uk-dtop/

Sorry, yes Revolut.

They seem to be well respected, and might be a bit cheaper than wise.

Sorry, yes Revolut.

They seem to be well respected, and might be a bit cheaper than wise.

Hopefully it all works out well, please do report back.

Reading the posts it seems I maybe too late however I managed to set up a Wise.com US Dollar account linked to my Vanguard account. It took about 5 to 6 days. These are the instructions which I received from Vanguard.

“ To access the form you'll need to complete, that will add banking information to your Vanguard account, please follow these steps:
         
         1. Log on to vanguard.com.
         2. Select the document icon at the top of the page, then choose "Forms & applications."
         3. Under "Browse by Topic" select "Add a service."
         4. Select "Establish the ability to move money electronically between your bank and Vanguard accounts."
         5. Choose the "Add or maintain electronic transfer service between your bank and Vanguard account" form and follow the remaining prompts.”

Hope this maybe of use to others.

I got the same answer, though they sent me a copy of the form via secure message. (Your method allows for electronic filling in, which is easier.)

It looks like they need us to physically mail back the form with a wise statement, which seems rather 19th century of them.

I'm going to see if my Revolut account gets set up okay before I bother mailing forms.

Jonathan

You don’t need to mail back the statement. You attach a scanned copy of the statement to the application and send it electronically.

This is just so weird as I did everything online just with routing and account numbers (myself and my wife both have Wise accounts linked to our Vanguard IRAs).  No documents were sent at all via mail, email or electronically.  Vanguard made 3 small payments of under a dollar into my Wise account and I had to log onto Vanguard a couple of days later and report the exact value of those payments, which were then reversed and withdrawn from my account.

The same process was followed by my wife using her Vanguard login to add her Wise account.

I added Revolut and transferred a small sum ($300) to my UK bank as a test. It was a bit more expensive than wise would be, but it worked. It took 2 days to do the small value transfer as verification, then 10 days for vanguard to allow withdrawals, then another couple of days for the transfer to go through.

I'll trying adding wise to vanguard periodically, as it's clearly a bug with adding wise, not with using wise once added. I could use the paper form to add wise to vanguard, but that seems a lot of hassle given revolut works. (I could transfer from revolut to wise in USD if the exchange rate is better.)

Excellent, thanks for the update, at least you have options now and, more importantly, something that works.

Another update. We opened a new Wise account for my wife, using her first and last name, no middle name, and vanguard still didn't allow it. So it's not an issue with middle names.