Simple transaction - move IRA cash, trustee to trustee, from one existing account to another. I hit the trifecta - three different institutions doing what they can to make this difficult.
Vanguard (recipient): Hard to transfer cash to existing mutual fund platform account. System automatically opened a brokerage account nd prefilled form with new account. I had to call Vanguard to have the cash go into my existing account.
Vanguard requires all transfers to be submitted by paper.
Merrill Edge (sender): Requires all transfers of $50K out of an IRA to have a medallion guarantee. They have a different limit for a transfer into an IRA, and a different limit for a taxable account.
I asked Merrill on the phone if I could walk into a BofA office to get the guarantee and was told they would only guarantee money coming into Merrill, not out.
Schwab:Won't provide a medallion guarantee to its customers unless the paperwork itself involves Schwab. Even then, my local office isn't able to stamp the docs. What's the point of having a local office if they can't handle the stuff that must be done in person?
IMHO none of these hurdles would disqualify an institution (how often does one move money from one account to another). But surely two decades into the 21st century they could be a little more tech savvy and a bit more customer friendly.