Rabobank Employee Never Heard Of Vanguard!

Finally, Rabobank managed to phone me back. I requested information on investing with Vanguard via Rabobank. I explained the nice lady on the other end of the phone that I wanted to invest with Vanguard. Her response: “What is Vanguard?” I mean, WTF?! Are you freakin’ serious? I stayed very polite of course. She was new to investments. Uhm…doesn’t that require some sort of education? Now she’s going to find out about the costs and send me an email about it. Sigh….

This is a ridiculous situation, isn’t it?

Love,

Mrs EconoWiser

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10 thoughts on “Rabobank Employee Never Heard Of Vanguard!

  1. IndexBelegger

    I pay 0,2% transaction costs for buying/selling Vanguard Global Stock Index and Vanguard Euro Government Bond. No custody fees.

    Reply
      1. econowiser Post author

        So the costs are as follows: Vanguard takes 0,5% per year and Rabobank takes 0,2% transaction fees and no depository fees, annual fees or other fees. This is it?

  2. IndexBelegger

    Yes. TER for Euro Government Bond is 0,3% and for Global Stock Index 0,5%. But the real TER for the latter is more like 0,4%. For a calculation, see
    http://www.iexprofs.nl/Column/Nieuws-Productrecensies/92234/ETF-van-Tak-Vanguard-Global-Stock-Index-Fund.aspx

    Note that Rabobank also offers the SRI Global Stock fund with the same TER which may be interesting for you. (in case you don’t know: SRI = Socially Responsible Investing so no stocks in tobacco, alcohol, weapons etc producing companies)

    Reply
    1. econowiser Post author

      Great! Why don’t they just state that TER and get it over with. Would I have to open an Rabo bankaccount as well or can I just transfer money from my ABN Amro account?

      Reply
      1. IndexBelegger

        I think you need a Rabo account, but better ask Rabo customer service about that.

      2. econowiser Post author

        Finally talked to a sensible Rabobank employee.
        Membership fee 0
        Buying/selling fees 0,2%
        Depository fee 0,2%
        Line rate €1,75 per line (regeltarief)
        Vanguard fees vary (most around 0,5%)

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