Setting up Direct Deposit
How do I deposit a Social Security or other federal government agency payment?
For more information, contact the Social Security Administration.
Note: Once you establish the Direct Deposit Service, it will remain in effect at Vanguard unless you delete it. You don't need to reestablish the service for your tax refund each year. You must, however, direct the IRS or state taxing authority to deposit your refund with Vanguard each year.
Deposits can be as large or as small as you like. Bear in mind that tax-deferred retirement accounts are subject to yearly contribution limits, however. Note that Direct Deposit purchases into an Individual Retirement Account (IRA) are for current-year contributions only. Prior-year contributions must be made outside of the Direct Deposit Service.
Yes. Each deposit may be allocated among 1 to 4 Vanguard® mutual fund accounts, provided you already own shares in those funds. During the setup process, we'll show you a list of your eligible mutual fund accounts; tell us what percentage of each deposit should go to each fund.
If you want to make deposits to more than 4 funds, you'll need to set up the Direct Deposit Service for the other funds separately.
Yes, as long as your Direct Deposit source approves. You can establish multiple deposit options from one Direct Deposit source (for example, if you receive commissions or pension income from your employer in addition to a regular salary). You must establish each Direct Deposit Service separately, however. You may find it helpful to include a “personal memo” when setting up the service to help you identify the deposits.
Yes. You can have as many Direct Deposit sources as you like. You must set up the service for each Direct Deposit source separately.
Contact us to establish the Direct Deposit Service for accounts on which you don't have view/transact permission, such as a grandchild's savings account.