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Charles Schwab vs Vanguard: fees and fine print
Full transfer-out: Charles Schwab $50 vs Vanguard $100 (may charge), per each broker's official pages (checked Oct 30, 2026).
Last updated · 7 official sources (listed below)
The costs that don't show up in "$0 commissions": leaving, reverse splits, tender offers, and what idle cash earns. Every cell links to the broker's own page.
Where they differ
- Full ACATS transfer-out fee: Charles Schwab $50 vs Vanguard $100 (may charge)
- Partial transfer-out fee: Charles Schwab $0 vs Vanguard Not published
- Reverse split / mandatory reorg fee: Charles Schwab $0 vs Vanguard Not published
- Voluntary reorg / odd-lot tender fee: Charles Schwab $0 vs Vanguard Not published
- Fractional share trading: Charles Schwab Yes (Stock Slices, $1 min) vs Vanguard Yes (Vanguard ETFs & mutual funds, $1 min)
- Rate on uninvested cash: Charles Schwab 0.01% APY vs Vanguard Not published
| Fact | Charles Schwab | Vanguard |
|---|---|---|
| Full ACATS transfer-out fee | $50 source · Oct 30, 2026 | $100 (may charge) Waived for clients with ≥$5M qualifying assets, Wealth Management, or advisory-enrolled accounts. Vanguard's account-transfer page says it doesn't charge for outgoing transfers; the fee schedule (effective July 10, 2026) is used here. source · Oct 30, 2026 |
| Partial transfer-out fee | $0 source · Oct 30, 2026 | Not published |
| Reverse split / mandatory reorg fee | $0 source · Oct 30, 2026 | Not published |
| Fractional shares after a reverse split | Not published | Not published |
| Voluntary reorg / odd-lot tender fee | $0 source · Oct 30, 2026 | Not published |
| DRIP (auto dividend reinvestment) | Yes source · Oct 30, 2026 | Yes Read by hand (Vanguard blocks scripts). Program fractions are rounded to 3 decimals; some fractional entitlements may be paid in cash. source · Oct 30, 2026 |
| Fractional share trading | Yes (Stock Slices, $1 min) source · Oct 30, 2026 | Yes (Vanguard ETFs & mutual funds, $1 min) Dollar-based (fractional) buys cover Vanguard ETFs and mutual funds only, not other ETFs or stocks. source · Oct 30, 2026 |
| Rate on uninvested cash | 0.01% APY Bank Sweep / Schwab One Interest (same rate). Money funds such as SWVXX pay more but are not the default. source · Oct 30, 2026 | Not published |
Full pages: Charles Schwab fees · Vanguard fees · Charles Schwab cash rate · Vanguard cash rate
Questions
Is it cheaper to leave Charles Schwab or Vanguard?
Full transfer-out: Charles Schwab $50, Vanguard $100 (may charge) (official fee schedules).
Sources
- https://investor.vanguard.com/client-benefits/dividend-reinvestment
- https://investor.vanguard.com/client-benefits/investment-fees
- https://investor.vanguard.com/investor-resources-education/article/what-is-dollar-based-investing
- https://www.schwab.com/cash-investments
- https://www.schwab.com/fractional-shares-stock-slices
- https://www.schwab.com/legal/schwab-pricing-guide-for-individual-investors
- https://www.schwab.com/stocks/dividend-reinvestment-plan
Each source was read on or before Oct 30, 2026. Fees and rates change; confirm on the broker's site before acting.