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Vanguard - FAQs - Mobile Check Investment

Help Center  »  Technical information  »  Mobile Check Investment FAQs

 

Technical FAQs—Mobile check investment

What is mobile check investment?

How does it work?

What types of accounts are eligible?

Can this service be used to fund a new account?

What types of checks are accepted?

Do checks still need to be signed on the back?

Are there any restrictions on the amount of the check?

What happens to the paper check after it's been submitted?

When will the check be posted to my account?

When will the funds be available?

What if the check isn't accepted or is rejected?

Are the check images stored anywhere on my device?


What is mobile check investment?

Mobile check investment is a free service that allows you to invest into your eligible accounts using the camera in your mobile device and a check that's made payable to Vanguard or at least one of the Vanguard account owners.

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How does it work?

You can access mobile check from the more menu on iPhone or Android and from the navigation bar on the iPad, or when you begin to buy or exchange into a fund. Once you've selected a fund and an amount, choose check as your funding method. You'll then be prompted to take a picture of the front and back of your signed check using the camera in your device. We'll use the image to process your transaction.

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What types of accounts are eligible?

  • Individual
  • Traditional, Roth, and rollover IRAs
  • Joint
  • Custodial (UGMA/UTMA)
  • Trust Under Agreement (U/A)

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Can this service be used to fund a new account?

Not at this time. You can only use the service to buy or exchange into new or existing funds in your existing accounts.

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What types of checks are accepted?

You can invest with the same types of checks that you'd normally send to us in the mail. As usual, your checks must be made payable to Vanguard or to one or more account owners. We accept:

  • Personal checks
  • Cashier's or bank checks
  • Certified checks
  • Federal Reserve checks
  • U.S. Treasury checks
  • Business checks

We don't accept:

  • Checks in amounts over $10,000
  • Checks made payable to cash
  • Altered checks
  • Checks in a foreign currency or drawn on a foreign bank
  • Post-dated checks
  • Stale-dated checks (generally, checks dated more than 180 days prior to receipt)
  • Unsigned checks
  • Money orders
  • Fourth-party checks
  • Traveler's checks
  • Starter checks

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Do checks still need to be signed on the back?

Yes. Checks written to one or more Vanguard account owners must be endorsed with the payee's signature. Checks written to Vanguard should not be signed on the back.

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Are there any restrictions on the amount of the check?

Yes. Investing by mobile check is limited to $10,000 per trade date, per client.

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What happens to the paper check after it's been submitted?

We recommend that you save the checks for 14 business days or until you've confirmed that they have been successfully credited to your account. Once the purchase by mobile check is successfully posted, the check can't be used again and may be filed with any paperwork you choose to keep, or destroyed.

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When will the check be posted to my account?

For purchases by check into all funds other than money market funds, and for purchases by exchange, wire, or electronic bank transfer (not using an automatic investment plan) into all funds: If the purchase request is received by Vanguard on a business day before the close of regular trading on the NYSE (generally 4 p.m., Eastern time), the trade date for the purchase will be the same day. If the purchase request is received on a business day after the close of regular trading on the NYSE, or on a non-business day, the trade date for the purchase will be the next business day.

For purchases by check into money market funds: If the purchase request is received by Vanguard on a business day before the close of regular trading on the NYSE (generally 4 p.m., Eastern time), the trade date for the purchase will be the next business day. If the purchase request is received on a business day after the close of regular trading on the NYSE, or on a non-business day, the trade date for the purchase will be the second business day following the day Vanguard receives the purchase request. Because money market instruments must be purchased with federal funds and it takes a money market mutual fund one business day to convert check proceeds into federal funds, the trade date for the purchase will be one business day later than for other funds.

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When will the funds be available?

Mobile check investments follow the same collectability rule as all other transactions which is 7 days.

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What if the check isn't accepted or is rejected?

We'll let you know how to fix any issues we detect when you're taking a picture of your check. But if your check is submitted but then isn't accepted for whatever reason, we'll let you know. As always, you may contact us if you have any questions or concerns.

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Are the check images stored anywhere on my device?

No. The images are never stored on your device.

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