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Q: mutual fund's fund Redemption ( Answered,   1 Comment )
Subject: mutual fund's fund Redemption
Category: Business and Money > Finance
Asked by: precious11-ga
List Price: $150.00
Posted: 10 Feb 2004 10:19 PST
Expires: 11 Mar 2004 10:19 PST
Question ID: 305433
I need a list of mutual fund companies in the US which allows easy
cashing of shares and that allows redemption of funds thru a debit
card and or thru wire transfer to any account around the world.

Request for Question Clarification by darrel-ga on 10 Feb 2004 10:56 PST
Hello Precious--

Could you please clarify: What do you mean by "easy cashing of shares"? 



Clarification of Question by precious11-ga on 11 Feb 2004 08:12 PST
I mean ease of liquidating or selling of shares so as to make funds
available for withdrawal

Request for Question Clarification by nancylynn-ga on 10 Mar 2004 14:34 PST

I'm researching your question for you. I have some good prospects and
am attempting to find more for you before your question expires

Could you please tell me in which state you reside and, preferably,
the largest metro area near you? (One of the mutual fund companies I
contacted needs to have me contact the office closest to where you
live to discuss the details of their mutual funds. Since I may run
into this again with another company, it would be helpful for me to
know where you reside.)

Subject: Re: mutual fund's fund Redemption
Answered By: nancylynn-ga on 10 Mar 2004 19:35 PST
Hello  precious11-ga:

Here are the mutual funds I found that fit your needs:

UMB Bank:
has "Scout Funds":
Fill out e-mail form at above link, or call:1-800-996-2862.

You can't make debit cards withdrawals from the Scout mutual funds,
but you can easily liquidate shares, and the bank will wire transfer
the money anywhere in the world on bank accounts *you've listed on
your account* with UMB Scout Funds.

American Century Mutual Funds:
Allows easy cashing of shares, and they will bankwire a transfer to
any account in the world.

Contact page:

Phone American Century:

There's a slew of numbers; I used 1-800-345-2021.

The Women's Financial Network at Siebert Mutual Funds, main offices in New
York City:

Contact Info:
Telephone: 1-877-936-4968
They allow easy cashing of shares and you can use debit card or have
them do wire transfers to any account in the world.

Merrill Lynch:

In the USA, call: 1-800-637-7455 (1-800-Merrill).

Merrill Lynch can provide all the services you want, but you must use
their brokerage service. So, this doesn't work like, say, Vanguard.
You'll have to pay more for brokerage service, but that means Merrill
Lynch will assign you a financial advisor who will be able to
authorize all any transaction you want, such as selling shares from
your mutual funds, then transferring that money to any bank account in
the world.

The same applies to Fidelity:
You must be a Fidelity brokerage client in order to get wire transfers
from mutual fund shares you have liquidated and want transferred to a
bank account.

Contact Fidelity's "Brokerage, Mutual Fund, and Retirement Accounts"
representatives at 1- 800-544-6666.

The same also applies to American Express Funds:,1641,15255,00.asp?

I called them at 1-800-297-7014, and their representative told me the
"American Express One" brokerage account would fit your needs,
including global wire transfers.

Fifth Third Bank's Mutual Funds Program:

They will bankwire a transfer to any bank account in the world --
however you must be an American citizen to qualify for entry into this
mutual fund program.

Call Fifth Third at: 1-800-282-5706 

As reedfloren-ga noted, Vanguard is among the top mutual funds in the world.

Vanguard's main site is:

Here's a listing and contact info for their various funds:

I called Vanguard Client Services (1-888-285-4563) and a
representative told me that as long as you're an American citizen you
can apply for Vanguard funds, and Vanguard will do global wire

T.Rowe Price,,,00.html

Like Vanguard and Fidelity, T.Rowe Price is a giant in the world of
mutual funds. Their "brokerage account," which requires an opening
deposit of $10,000, will give you debit card services and quite a
range of other services.

T. Rowe Price *tries to accommodate* global wire transfers, but their
representative told me those transactions can be difficult to pull off
just because banking regulations in some countries differ so greatly
from USA practices. So, T. Rowe Price will try to do global wire
transfers, but can't promise all attempts will succeed.

They suggest you call them to discuss their "brokerage account."

"General Information1-800-225-5132
Weekdays: 7 a.m. to 12 a.m. ET
Weekends: 8:30 a.m. to 5 p.m. ET"


A service representative from one of the above companies told me that
Citibank, which has an investment division that includes mutual funds,
should be perfect for your needs, especially re: international wire
See Citibank's investment programs, which include mutual funds, at:

And check out their financial advisors/planning division, Smith Barney:

The wondrous thing about Citigroup (which is the umbrella corporation
that includes Citibank and Smith Barney) is that they make it nearly
impossible for people to contact them with questions! Every call I
made to every phone number I found for Citibank and Cititrade resulted
in getting a recording asking me for my account number. I don't know
how one becomes a Citigroup client unless one is . . . already a
Citigroup client!

I suggest you try Citibank's main number in New York City: 1-212-559-7299.

Or, e-mail Smith Barney at this page: 

Bank of New York has a slate of mutual funds, such as Hamilton:

"Mutual Fund Options: How It Works
First, we offer you a selection of tax-free and taxable money market
mutual funds and link your chosen fund to a standard checking account.
 At the end of each business day, all cash balances in your checking
account above $5,000 are moved into your chosen fund. When you make a
withdrawal (via check, ATM or wire transfer), we redeem just enough
shares in your mutual fund and transfer the money to your checking
account to cover the withdrawal. The result? Your money is there when
you need it and working harder for you when you don't ? all with no
effort on your part."

I'm not certain if they do *global wire transfers*. Call Bank of New
York's Investment Center at 1-800-269-4477. (9 a.m. - 5 p.m. Eastern
Time, weekdays.)

GE Financial's Mutual Funds:

They won't give any details to a third party -- like me. You'll have
to call them at 1-800-844-6543, their main office. You tell them where
you reside and then they'll have the GE Financial office closest to
you call you to discuss their mutual funds.

ING's Mutual Fund Program:
is based in Canada; however, ING is a worldwide company with offices in the USA.

To have a service representative from ING contact you, fill out this form, at: 

Mutual Funds That Do NOT Meet Your Needs (Just So You Know!):

Charles Schwab

Search Strings:

"mutual fund debit card redemption"
"mutual fund redemption bankwire"
" 'mutual fund' AND "debit card' AND wire AND globally"
"mutual fund easy access wire transfer"

I hope my research is of help to you. If you have trouble navigating
any of these links, or if you need me to clarify anything, please post
a "Request For Clarification" prior to rating my answer.

Subject: Re: mutual fund's fund Redemption
From: reedfloren-ga on 07 Mar 2004 12:19 PST
Vanguard is pretty good: I'd recommend the 500
Index Fund Inv symbol is VFINX since over a period of 10 years 80%+ of
funds fail to beat it.

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