Author Topic: Moving money from Capital 360 savings to Vanguard (Limits?)  (Read 944 times)

Morpheus

  • 5 O'Clock Shadow
  • *
  • Posts: 16
Moving money from Capital 360 savings to Vanguard (Limits?)
« on: March 01, 2017, 11:09:44 PM »
I have a Capital 360 savings account where I hold my emergency funds with 0.75% APY.
If the market drops below certain price point, I was planning to buy additional VTSAX at a certain rate ($X every day) using the money in this account (I know, market timing is bad).
Today came across this - http://helpcenter.capitalone360.com/Topic.aspx?category=C3BNKOSABA#TRANS1
which basically says that there is 6 withdrawal limits per calendar month.
Is that true? is there also a limit on the amount I can withdraw from Capital 360?
If so, is there a way to work around that?
If there is no limit on the amount, I was thinking maybe moving large chunk of money from capital 360 to a checking account with no limits and from there move it daily to Vanguard.

Thoughts?

Indexer

  • Handlebar Stache
  • *****
  • Posts: 1407
Re: Moving money from Capital 360 savings to Vanguard (Limits?)
« Reply #1 on: March 02, 2017, 12:01:18 AM »
Savings accounts and bank money market accounts normally have a 6 per month restriction on withdrawals.

To get around this you can move it to your checking all at once.

You could also just move it to the Vanguard settlement money market all at once. This is what I would do since the money market likely pays more interest than your checking account.

I don't know of any dollar amount restrictions at either firm.
« Last Edit: March 02, 2017, 12:05:03 AM by Indexer »