Upgrade Your Vanguard Brokerage Account to a Vanguardadvantage

VanguardAdvantage Account Services Agreement
Checkwriting, Debit Card, ACH, and Related Services
This agreement (the “Agreement”) sets forth the definitive terms and conditions of the VanguardAdvantage
Account Checkwriting, Visa ® Gold Debit Card, Billpay, ACH, and related services (the “Services”) that are
available through your VanguardAdvantage Account. This Agreement is made by and among Vanguard
Brokerage Services ® (Vanguard Brokerage), a division of Vanguard Marketing Corporation; and you, and with
respect to Card, ACH, and check services, BNY Mellon Trust Company and Bank (defined below), and with
respect to the Billpay Service (defined below), CheckFree Services Corporation. By your enrollment in and use of
your VanguardAdvantage Account, you agree to be bound by the terms of this Agreement that are applicable to
the Services that you use.
1. Definitions.
Unless the context otherwise requires, the capitalized terms used in this Agreement have the meanings
specified below:
“Account” means your VanguardAdvantage Account, which consists of (a) your Brokerage Account, (b) your
linked money market settlement fund, and (c) any securities or other property or obligation from time to time
included in your VanguardAdvantage Account by Vanguard Brokerage.
“ACH” means Automated Clearing House.
“ACH Transaction” means any transfer of funds processed through the ACH system.
“ATM” means automated teller machine.
“ATM Withdrawal” means a Card Transaction in which you receive money from an ATM.
“Authorization” means a Card Transaction in which you authorize others to place a hold on your Available
Balance to ensure future payment.
“Available Balance” means the available cash and sweep fund balances in your Account as well as any
available secured credit if you have a margin account, excluding those balances that are subject to Vanguard
Brokerage’s seven-business-day hold or that have otherwise been placed on hold to ensure payment of
previously authorized Transactions.
“Bank” means PNC Bank, N.A., a national bank.
“Banking Day” has different meanings for ATM Withdrawals and for Cash Advances, Purchases, and
Authorizations. A Banking Day may, as applicable, exclude bank or brokerage holidays.
(1) For ATM Withdrawals, we consider there to be seven Banking Days each week for purposes of imposing
security limits on the number and amount. For these purposes, Banking Days begin at 12 midnight,
Eastern time.
(2) For Cash Advances, Purchases, and Authorizations:
(a) We consider there to be six Banking Days each week for purposes of imposing security limits on the
amount you can perform. For these purposes, Banking Days begin at 6 a.m., Eastern time. The period
from Saturday at 6 a.m. to Monday at 6 a.m., Eastern time, is counted as one Banking Day; and
(b) We consider there to be seven Banking Days each week for purposes of imposing security limits on
the number you can perform. For these purposes, Banking Days begin at 12 midnight, Eastern time.
“Billpay Provider” means CheckFree Services Corporation.
“Billpay Service” means the electronic bill payment service offered by Vanguard Brokerage that is accessed
exclusively by means of Vanguard Brokerage’s secure website.
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