ACH Rejects
When a client transfers money into Vanguard, and there is an ACH reject, is the trade reversed in the VBA?
No! The initial trade is still processed and the client would be responsible for covering the trade by adding cash into the settlement fund or margin will sell them out.
Client: Carl Haley, Profile/Account: Garland Eye Associates (organization account), CID: 695444579
What are the security questions that you must ask the client on the organization profile? What InfoWave would you look at to find this?
Caller's full name
Caller must be listed on VOR
Company name
Company address
Last four digits of company’s TIN
Account number
Can a limited agent add a bank?
No!
Client calls in and is wanting to make sure their bank is carried over before completing the VBA Upgrade. What do we need to do in crave to verify whether the clients bank will carry over to the VBA account?
1. Navigate to the banking information under profile and account settings
2. Select Updated bank authorization agreement status
3. If the bank is highlighted in yellow, they need to complete the Updated Bank Authorization form the bank will not carry over they need to re-add
4. If not then proceed with the upgrade and verify after the bank carried over
Vanguard Account Name: "Sara Lee Jones"
Bank Account Name: "Sara Lee-Jones"
Does this require a notary?
No notary required
How do you identify why the ACH was rejected (where do you find the reject code)?
BPM!!!
Document review -> open document
Client: Carl Haley, Profile/Account: Garland Eye Associates (organization account), CID: 695444579
What pathways can Carl take to add his individual bank account to the organization account?
Intelledox, Add by Form (backup bank documents required)
Can a full agent add a bank to the client's profile?
Yes, they have the authority to add the bank
The custodian has added the bank to his son's Roth IRA custodial account. On the bank information page, there is a message showing that the minor needs to authorize the bank in their SMC.
The minor has already authorized the bank on his end, but the message is still showing that it needs additional authorization. What are your next steps?
Call CMS at ClientCare_FND
Vanguard Account Name: "B Cooper"
Bank Account Name: "Bradley Lee Cooper"
What pathways can the client take to add the bank? Does this require a notary?
EBTF form, notary required
What does a R20 reject code mean?
(Where do you find this information?)
This can mean that either the account is a savings account that has exceeded the number of transactions allowed each month/quarter or the account type does not allow for electronic debits.
https://oedesktop.vanguard.com/us/content/InfoWave/AssocHbk/ProbRes/ACHRejectIssues.jsp
Client: Carl Haley, Profile/Account: Garland Eye Associates (organization account), CID: 695444579
Vanguard Account: Garland Eye Associates - Bank account: Carl Haley (individual)
What are the signature requirements to add this bank? Does this need a notary?
Signature requirements determined by the VOR (Check the Alerts in CrAVE to see if it lists the number of trustees or authorized signers needed to sign this EBTF before checking in AWD/BPM for these forms)
Does not require a notary.
Full agent John Smith calls in to ask if he can add a bank to Jane Doe's Vanguard brokerage account. Assuming he is trying to add a bank in his name what steps would need to be taken? Does this change if the bank's registration is in Jane's name?
Full agent can add the bank in either situation, though a Notary can be required based off the registration of the bank and how it compares to the registration at Vanguard.
*Add a bank tool
Client calls in trying to resolve and issue where their bank did not carry over after completing the VBA Upgrade. What would we need to do to ensure the bank gets linked on the new VBA account? The bank is not highlighted in yellow.
Create a BPM case:
*Non-Flagship clients
Baseload: purchases and basic processing, Transaction: VBA Upgrade Services Carry Over, Platform VBA
Paste the template in the BPM case
Will our system recognize a nickname when adding the bank online? (Tom versus Thomas)
No, client will need to add it via EBTF
Client received a message that their bank account was systematically deleted after they recently added the bank account. The client mentioned that they never received the micro deposits. What resources would we use to verify why this bank account was deleted?
CRM Browser, BPM
The client is an authorized signer on the organization account, but the organization account does not populate on the client's individual profile. You put the client through security on the organization's profile, but the organization is "not registered".
How do you help the client add the bank to the organization account?
If there is only an old Vanguard Organization Resolution form on file (i.e. the form is not our January 2022 version) then the caller will need to send in a new Vanguard Organization Resolution form with the e-consenter fields in Section 3 completed before they can pre-register the EIN for this account.
Once a new VOR has been processed the client can add the bank via online pathways.
If the client refuses to update the VOR, then the only way to add the bank will be through the EBTF.
Is it possible for an ACIP agent to add their individual bank account to an individual brokerage account with VG? If they can add the bank what pathways would they be able to use?
No (ACIP cannot add their bank account to the incapacitated client's brokerage account)
The bank must have the incapacitated client as a bank owner! If they do we can add the bank by form, ACIP agents are unable to add or change bank information that does NOT have the incapacitated client's name on the registration.
Bank account was deleted in error by a crew member after the authentication and authorization has been completed. What are our next steps?
Submit a CMS Intake Form