Fidelity Business Brokerage Account

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Topic Author
lexor
Posts: 513
Joined: Thu Feb 27, 2014 10:32 am

Fidelity Business Brokerage Account

Post by lexor » Thu Feb 13, 2020 10:56 am

Has anyone used Fidelity's taxable business brokerage account? Are all the services electronic? See the account type description here https://www.fidelity.com/open-account/f ... businesses
“The miracle of compounding returns is overwhelmed by the tyranny of compounding costs.” -Mr. John C. Bogle

drgenefish
Posts: 64
Joined: Sun Feb 12, 2017 2:52 pm

Re: Fidelity Business Brokerage Account

Post by drgenefish » Sat Feb 15, 2020 10:55 am

I’d love to hear also. This has been on my radar.

FWIW I have used their brokerage account for my personal checking and savings and have had a great experience.

If anyone uses it, along with any general experiences,

1) can you easily see who checks are made out to? Like can you click on a check and see?
2) how do you handle depositing a bunch of checks? Like say you get 15 a week. Do you just use the phone app or do you have a local bank where you can just put it into an ATM?

Topic Author
lexor
Posts: 513
Joined: Thu Feb 27, 2014 10:32 am

Re: Fidelity Business Brokerage Account

Post by lexor » Sun Feb 16, 2020 7:41 pm

Bump :confused
“The miracle of compounding returns is overwhelmed by the tyranny of compounding costs.” -Mr. John C. Bogle

mattsm
Posts: 198
Joined: Mon Jan 11, 2010 10:27 am

Re: Fidelity Business Brokerage Account

Post by mattsm » Sun Feb 16, 2020 8:21 pm

I use it for my business. It works mostly as a checking account for me, without having the deal with a major bank that offers nothing for free. Fidelity however has everything for free and a decent interest rate. Nothing is really different than a normal brokerage except a few restrictions on transfers within Fidelity accounts (need to call or transfer out and back in to make some transactions).

mattsm
Posts: 198
Joined: Mon Jan 11, 2010 10:27 am

Re: Fidelity Business Brokerage Account

Post by mattsm » Sun Feb 16, 2020 8:22 pm

drgenefish wrote:
Sat Feb 15, 2020 10:55 am
I’d love to hear also. This has been on my radar.

FWIW I have used their brokerage account for my personal checking and savings and have had a great experience.

If anyone uses it, along with any general experiences,

1) can you easily see who checks are made out to? Like can you click on a check and see?
2) how do you handle depositing a bunch of checks? Like say you get 15 a week. Do you just use the phone app or do you have a local bank where you can just put it into an ATM?
1) Yes, you can see the scans
2) I can use the app, but for bigger checks I got drop them off at the local branch since my mobile deposit limits fluctuate a lot. Otherwise you would need to mail them in.

HomeStretch
Posts: 3637
Joined: Thu Dec 27, 2018 3:06 pm

Re: Fidelity Business Brokerage Account

Post by HomeStretch » Sun Feb 16, 2020 8:25 pm

I considered using Fidelity’s business brokerage account for my partnership but passed due to its limited CMA functionality. It doesn’t have Bill Pay and IIRC it doesn’t offer a debit card for purchases.

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MrBobcat
Posts: 344
Joined: Fri Jan 11, 2019 5:19 pm

Re: Fidelity Business Brokerage Account

Post by MrBobcat » Sun Feb 16, 2020 8:38 pm

Following

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