Fidelity CMA Transfers

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Generator515
Posts: 97
Joined: Sun Mar 08, 2015 5:33 pm

Fidelity CMA Transfers

Post by Generator515 » Wed Nov 07, 2018 7:56 pm

Just signed up for a Fidelity CMA account. Planning on having it replace my checking account. Would anyone be able to let me know how I can schedule transfers to my other fidelity accounts (eg for my monthly IRA contribution)? I can not seem to find a way to set this up.

Spirit Rider
Posts: 8876
Joined: Fri Mar 02, 2007 2:39 pm

Re: Fidelity CMA Transfers

Post by Spirit Rider » Wed Nov 07, 2018 8:29 pm

You set it up on the IRA side as an automatic investment.

Don't get me wrong, I like Fidelity's CMA. However, in this day in age it is extremely lame that you can not schedule transfers.

Cruise
Posts: 654
Joined: Mon Nov 21, 2016 7:17 pm

Re: Fidelity CMA Transfers

Post by Cruise » Wed Nov 07, 2018 8:41 pm

I do not believe that an automatic transfer from one account to another is possible. Suggest calling in to verify.

I know that automatic purchases are only available for mutual funds, not ETFs.

Generator515
Posts: 97
Joined: Sun Mar 08, 2015 5:33 pm

Re: Fidelity CMA Transfers

Post by Generator515 » Wed Nov 07, 2018 8:54 pm

Spirit Rider wrote:
Wed Nov 07, 2018 8:29 pm
You set it up on the IRA side as an automatic investment.

Don't get me wrong, I like Fidelity's CMA. However, in this day in age it is extremely lame that you can not schedule transfers.
Thanks. As in input the account and routing number and treat like an external third party account?

Spirit Rider
Posts: 8876
Joined: Fri Mar 02, 2007 2:39 pm

Re: Fidelity CMA Transfers

Post by Spirit Rider » Wed Nov 07, 2018 9:04 pm

Generator515 wrote:
Wed Nov 07, 2018 8:54 pm
Spirit Rider wrote:
Wed Nov 07, 2018 8:29 pm
You set it up on the IRA side as an automatic investment.

Don't get me wrong, I like Fidelity's CMA. However, in this day in age it is extremely lame that you can not schedule transfers.
Thanks. As in input the account and routing number and treat like an external third party account?
I haven't done it in a while, I suggest you call Fidelity.

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HueyLD
Posts: 6214
Joined: Mon Jan 14, 2008 10:30 am

Re: Fidelity CMA Transfers

Post by HueyLD » Thu Nov 08, 2018 9:02 am

From the FAQs - Fidelity Cash Management Account:

"Can the automatic investment (AI) service be a Fidelity® Cash Management Account feature, and can it be used in conjunction with the Cash Manager feature?

Yes, the AI service can be set up on either a Fidelity® Cash Management Account or on a Cash Manager funding account.

Note: AI service is currently only available from an outside account to a Fidelity account.

If you want a funding account to have the AI account feature, you must establish AI on the account before linking it to the Fidelity® Cash Management Account via Cash Manager. If an account is already linked as a funding account, and you want to add AI, you must first de-link the account, add in the AI, and then re-link the account to the Fidelity® Cash Management Account via Cash Manager."

Clear as mud. Yes, call Fido as they are open. Please update us on what Fido tells you.

marcopolo
Posts: 1193
Joined: Sat Dec 03, 2016 10:22 am

Re: Fidelity CMA Transfers

Post by marcopolo » Thu Nov 08, 2018 10:01 am

I have used BIll Pay to setup automated monthly transfers between accounts.
Does not do auto-investment, but does transfer between accounts automatically.
Once in a while you get shown the light, in the strangest of places if you look at it right.

Cash
Posts: 1328
Joined: Wed Mar 10, 2010 10:52 am

Re: Fidelity CMA Transfers

Post by Cash » Fri Nov 09, 2018 10:01 am

Use the cash manager tool. I have automatic transfers set up from my CMA to both my brokerage account and external savings accounts.

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