Fidelity as a one stop shop

Non-investing personal finance issues including insurance, credit, real estate, taxes, employment and legal issues such as trusts and wills
iamblessed
Posts: 255
Joined: Sat Jun 09, 2018 11:52 am

Re: Fidelity as a one stop shop

Post by iamblessed » Mon Aug 26, 2019 9:25 pm

MisterBill wrote:
Mon Aug 26, 2019 8:59 pm
So I was never that concerned about fraud possibility, but just noticed an unknown charge show up on my Fidelity CMA account today. Fortunately it's only for $22.81 (there was also one for $0.00, presumably authorizing it when added to the account). I just reported it to Fidelity and they have cancelled the card and are sending me a new one. I am not sure where they got the number. I did use it several times in Europe back in June but also use it occasionally at local stores for reasons I won't go into here. Also used it last week at a local ATM.

Update: I contacted Amazon and based on the information in the charge, they were able to find the order. Apparently they had already cancelled the order due to suspected fraudulent activity and will open an investigation and make sure I get the money back. Unlikely they'll catch anyone but at least they won't get the stuff they ordered (which presumably was a prelude to trying a bigger purchase, that's how these folks usually work).
Will you have to do a lot of paperwork for Fidelity?

MisterBill
Posts: 429
Joined: Thu Dec 24, 2015 3:21 pm

Re: Fidelity as a one stop shop

Post by MisterBill » Mon Aug 26, 2019 9:31 pm

iamblessed wrote:
Mon Aug 26, 2019 9:25 pm
Will you have to do a lot of paperwork for Fidelity?
Didn't seem like it, they said they will open an investigation and then send me something to fill out, but if Amazon refunds the money (which they said they would and it might already be in progress if they cancelled the order due to suspected fraud), I probably won't need to fill out anything. The only form would presumably be an affidavit to get the fraudulent charges removed and it won't be necessary.

BTW I asked if they could get me the new card quickly and they said they would send it via Fedex and I should have it Thursday or Friday.

User avatar
Leif
Posts: 2684
Joined: Wed Sep 19, 2007 4:15 pm

Re: Fidelity as a one stop shop

Post by Leif » Mon Aug 26, 2019 9:42 pm

MisterBill wrote:
Mon Aug 26, 2019 9:31 pm
BTW I asked if they could get me the new card quickly and they said they would send it via Fedex and I should have it Thursday or Friday.
That happened to me once. They sent me a new card via FedEx. I never received the new card. It was picked up off my front porch and fraudulently used. All around Christmas time, so I'm not sure if it was somehow planned or just coincidence. Good thing I was on top of it. I told Fidelity according to FedEx the card was delivered. They said check around the door, maybe the wind blew it somewhere. I checked but nothing. A few days later I see a couple of $400 charges at Walmart. They could have saved themselves some money if they just cancelled that card right away.

How they were able to activate it I'm not sure. Fidelity told me in some cases they pre-activate the card. What a mess. Anyway after that I always tell them to please send the card in standard mail.
Last edited by Leif on Mon Aug 26, 2019 9:56 pm, edited 3 times in total.

iamblessed
Posts: 255
Joined: Sat Jun 09, 2018 11:52 am

Re: Fidelity as a one stop shop

Post by iamblessed » Mon Aug 26, 2019 9:50 pm

I heard fraud on a debit card can be a nightmare so I am curious how Fidelity handles it?

MisterBill
Posts: 429
Joined: Thu Dec 24, 2015 3:21 pm

Re: Fidelity as a one stop shop

Post by MisterBill » Mon Aug 26, 2019 10:17 pm

iamblessed wrote:
Mon Aug 26, 2019 9:50 pm
I heard fraud on a debit card can be a nightmare so I am curious how Fidelity handles it?
So far, so good. Only complaint is that the automated help on the website said to call one number, but while I was going thru the voice menu it said that 90% of debit card calls needed to be handled by a different number and suggested that I call the number on my card. I did that, and they were able to help me.

The important thing is that I noticed it after a fairly small charge. It would have been much worse had they charged a few thousand.

MisterBill
Posts: 429
Joined: Thu Dec 24, 2015 3:21 pm

Re: Fidelity as a one stop shop

Post by MisterBill » Tue Aug 27, 2019 1:17 am

Leif wrote:
Mon Aug 26, 2019 9:42 pm
That happened to me once. They sent me a new card via FedEx. I never received the new card. It was picked up off my front porch and fraudulently used. All around Christmas time, so I'm not sure if it was somehow planned or just coincidence. Good thing I was on top of it. I told Fidelity according to FedEx the card was delivered. They said check around the door, maybe the wind blew it somewhere. I checked but nothing. A few days later I see a couple of $400 charges at Walmart. They could have saved themselves some money if they just cancelled that card right away.

How they were able to activate it I'm not sure. Fidelity told me in some cases they pre-activate the card. What a mess. Anyway after that I always tell them to please send the card in standard mail.
Hopefully I'll have better luck, although I have noticed that Fedex recently is leaving my packages and envelopes at the front of my porch and not even putting it by the door (nor are they ringing the doorbell). Was not getting texts when my Fedex packages were being delivered but I just discovered that I only had it set to send email, not a text, so hopefully that is resolved.

User avatar
Leif
Posts: 2684
Joined: Wed Sep 19, 2007 4:15 pm

Re: Fidelity as a one stop shop

Post by Leif » Tue Aug 27, 2019 1:21 pm

MisterBill wrote:
Tue Aug 27, 2019 1:17 am
Hopefully I'll have better luck, although I have noticed that Fedex recently is leaving my packages and envelopes at the front of my porch and not even putting it by the door (nor are they ringing the doorbell). Was not getting texts when my Fedex packages were being delivered but I just discovered that I only had it set to send email, not a text, so hopefully that is resolved.
Good luck. Sometimes I think it is a chess game between us and the bad guys. And we don't even know we are playing!

mervinj7
Posts: 1069
Joined: Thu Mar 27, 2014 3:10 pm

Re: Fidelity as a one stop shop

Post by mervinj7 » Tue Aug 27, 2019 1:32 pm

MisterBill wrote:
Tue Aug 27, 2019 1:17 am
Leif wrote:
Mon Aug 26, 2019 9:42 pm
That happened to me once. They sent me a new card via FedEx. I never received the new card. It was picked up off my front porch and fraudulently used. All around Christmas time, so I'm not sure if it was somehow planned or just coincidence. Good thing I was on top of it. I told Fidelity according to FedEx the card was delivered. They said check around the door, maybe the wind blew it somewhere. I checked but nothing. A few days later I see a couple of $400 charges at Walmart. They could have saved themselves some money if they just cancelled that card right away.

How they were able to activate it I'm not sure. Fidelity told me in some cases they pre-activate the card. What a mess. Anyway after that I always tell them to please send the card in standard mail.
Hopefully I'll have better luck, although I have noticed that Fedex recently is leaving my packages and envelopes at the front of my porch and not even putting it by the door (nor are they ringing the doorbell). Was not getting texts when my Fedex packages were being delivered but I just discovered that I only had it set to send email, not a text, so hopefully that is resolved.
Have you considered getting a Ring or Nest Hello doorbell? I had a guy who walked all the way up to the porch, saw the doorbell, and just casually walk away without taking the package. It also captured another guy who jumped the garden fence just to pull out a lavender plant. I still don't understand that one.

MisterBill
Posts: 429
Joined: Thu Dec 24, 2015 3:21 pm

Re: Fidelity as a one stop shop

Post by MisterBill » Tue Aug 27, 2019 2:35 pm

mervinj7 wrote:
Tue Aug 27, 2019 1:32 pm
Have you considered getting a Ring or Nest Hello doorbell? I had a guy who walked all the way up to the porch, saw the doorbell, and just casually walk away without taking the package. It also captured another guy who jumped the garden fence just to pull out a lavender plant. I still don't understand that one.
Haven't really felt the need. We are home most of the time and it's only FedEx that drops it there and I rarely get stuff from them. I realized that I had my delivery alert sent via email and not via text. So now I'll know as soon as it is delivered and can go out to get it.

Nummerkins
Posts: 346
Joined: Tue Jun 01, 2010 4:41 pm

Re: Fidelity as a one stop shop

Post by Nummerkins » Wed Aug 28, 2019 1:08 pm

Back on the topic of Fidelity...

I just transferred my Roth and Rollover IRAs to them after going from Vanguard to Merrill Edge. Fidelity gave me free trades (buy/sell Vanguard ETFs if I want) and reimbursed my ACAT out fees from ME.

I've had 529s (CMA also for cashback CC) with Fidelity for awhile due to Vanguard's $3000 minimum so this just further consolidated my accounts.

No real issues so far and I was able to get the above trade and reimbursement request completed in one phonecall.

Dvorak212
Posts: 10
Joined: Sat Apr 01, 2017 11:21 am

Re: Fidelity as a one stop shop

Post by Dvorak212 » Wed Aug 28, 2019 4:37 pm

Nummerkins wrote:
Wed Aug 28, 2019 1:08 pm
Back on the topic of Fidelity...

I just transferred my Roth and Rollover IRAs to them after going from Vanguard to Merrill Edge. Fidelity gave me free trades (buy/sell Vanguard ETFs if I want) and reimbursed my ACAT out fees from ME.

I've had 529s (CMA also for cashback CC) with Fidelity for awhile due to Vanguard's $3000 minimum so this just further consolidated my accounts.

No real issues so far and I was able to get the above trade and reimbursement request completed in one phonecall.
Did you leave Merrill Edge for any particularly bad reason? Was thinking of giving them a shot down the road.

User avatar
Hector
Posts: 1133
Joined: Fri Dec 24, 2010 2:21 pm
Contact:

Re: Fidelity as a one stop shop

Post by Hector » Wed Aug 28, 2019 7:04 pm

Nummerkins wrote:
Wed Aug 28, 2019 1:08 pm
Back on the topic of Fidelity...

I just transferred my Roth and Rollover IRAs to them after going from Vanguard to Merrill Edge. Fidelity gave me free trades (buy/sell Vanguard ETFs if I want) and reimbursed my ACAT out fees from ME.

I've had 529s (CMA also for cashback CC) with Fidelity for awhile due to Vanguard's $3000 minimum so this just further consolidated my accounts.

No real issues so far and I was able to get the above trade and reimbursement request completed in one phonecall.
What kind of free trades did you get?

About free trade and reimbursed fess, is that a promotion OR did you call and asked for it? if so, was transferred amount the factor?

Nummerkins
Posts: 346
Joined: Tue Jun 01, 2010 4:41 pm

Re: Fidelity as a one stop shop

Post by Nummerkins » Wed Aug 28, 2019 9:31 pm

Dvorak212 wrote:
Wed Aug 28, 2019 4:37 pm
Nummerkins wrote:
Wed Aug 28, 2019 1:08 pm
Back on the topic of Fidelity...

I just transferred my Roth and Rollover IRAs to them after going from Vanguard to Merrill Edge. Fidelity gave me free trades (buy/sell Vanguard ETFs if I want) and reimbursed my ACAT out fees from ME.

I've had 529s (CMA also for cashback CC) with Fidelity for awhile due to Vanguard's $3000 minimum so this just further consolidated my accounts.

No real issues so far and I was able to get the above trade and reimbursement request completed in one phonecall.
Did you leave Merrill Edge for any particularly bad reason? Was thinking of giving them a shot down the road.
PM sent

Nummerkins
Posts: 346
Joined: Tue Jun 01, 2010 4:41 pm

Re: Fidelity as a one stop shop

Post by Nummerkins » Wed Aug 28, 2019 9:35 pm

Hector wrote:
Wed Aug 28, 2019 7:04 pm
What kind of free trades did you get?

About free trade and reimbursed fess, is that a promotion OR did you call and asked for it? if so, was transferred amount the factor?
Called and asked after assets were transferred. I don't know if there as any specific threshold but the rep mentioned that my assets transferred were over $100,000 which I think helped. I got 75 free trades (equities/ETFs) on each of my two accounts I think (don't know how to verify) and they are good for 2 years.

I actually have the ACAT reimbursements pending in my accounts the same day of the request.

Bronco Billy
Posts: 171
Joined: Tue Jan 23, 2018 11:27 pm

Re: Fidelity as a one stop shop

Post by Bronco Billy » Wed Aug 28, 2019 10:48 pm

Nummerkins wrote:
Wed Aug 28, 2019 9:35 pm
Hector wrote:
Wed Aug 28, 2019 7:04 pm
What kind of free trades did you get?

About free trade and reimbursed fess, is that a promotion OR did you call and asked for it? if so, was transferred amount the factor?
Called and asked after assets were transferred. I don't know if there as any specific threshold but the rep mentioned that my assets transferred were over $100,000 which I think helped. I got 75 free trades (equities/ETFs) on each of my two accounts I think (don't know how to verify) and they are good for 2 years.

I actually have the ACAT reimbursements pending in my accounts the same day of the request.
I think Fido wants you to register online but they have a phone number also. It says 500 free trades for over $100k.
https://rewards.fidelity.com/offers/ATP500free

tj
Posts: 2573
Joined: Thu Dec 24, 2009 12:10 am

Re: Fidelity as a one stop shop

Post by tj » Thu Aug 29, 2019 8:26 pm

Nummerkins wrote:
Wed Aug 28, 2019 9:31 pm
Dvorak212 wrote:
Wed Aug 28, 2019 4:37 pm
Nummerkins wrote:
Wed Aug 28, 2019 1:08 pm
Back on the topic of Fidelity...

I just transferred my Roth and Rollover IRAs to them after going from Vanguard to Merrill Edge. Fidelity gave me free trades (buy/sell Vanguard ETFs if I want) and reimbursed my ACAT out fees from ME.

I've had 529s (CMA also for cashback CC) with Fidelity for awhile due to Vanguard's $3000 minimum so this just further consolidated my accounts.

No real issues so far and I was able to get the above trade and reimbursement request completed in one phonecall.
Did you leave Merrill Edge for any particularly bad reason? Was thinking of giving them a shot down the road.
PM sent
I'd like to know as well.

boston10
Posts: 34
Joined: Sun Aug 21, 2016 9:44 am

Re: Fidelity as a one stop shop

Post by boston10 » Fri Aug 30, 2019 12:57 pm

Fidelity (rather quietly) raised the rates on its FDIC-insured cash sweep ("FCASH") from .37% to 1.07% earlier this month, despite the Fed lowering rates. Somehow I missed this news until now, when I happened to see it when I clicked a link in my CMA. Not much coverage in the press, but found something here: https://www.barrons.com/articles/fideli ... 1565291732 (4th paragraph). The rates are somewhat hidden on their website, but you can see it here: https://accountsetup.fidelity.com/ftgw/ ... type=mySCA.

So for the record, even money kept in your CMA sweep is now getting a non-trivial amount of interest. Fidelity continues to impress... they're certainly not resting on their laurels.

User avatar
indexfundfan
Posts: 2696
Joined: Tue Feb 20, 2007 11:21 am
Contact:

Re: Fidelity as a one stop shop

Post by indexfundfan » Fri Aug 30, 2019 2:03 pm

boston10 wrote:
Fri Aug 30, 2019 12:57 pm
Fidelity (rather quietly) raised the rates on its FDIC-insured cash sweep ("FCASH") from .37% to 1.07% earlier this month, despite the Fed lowering rates. Somehow I missed this news until now, when I happened to see it when I clicked a link in my CMA. Not much coverage in the press, but found something here: https://www.barrons.com/articles/fideli ... 1565291732 (4th paragraph). The rates are somewhat hidden on their website, but you can see it here: https://accountsetup.fidelity.com/ftgw/ ... type=mySCA.

So for the record, even money kept in your CMA sweep is now getting a non-trivial amount of interest. Fidelity continues to impress... they're certainly not resting on their laurels.
Here's that discussion

viewtopic.php?t=287600
My signature has been deleted.

Nummerkins
Posts: 346
Joined: Tue Jun 01, 2010 4:41 pm

Re: Fidelity as a one stop shop

Post by Nummerkins » Fri Aug 30, 2019 3:07 pm

tj wrote:
Thu Aug 29, 2019 8:26 pm
Nummerkins wrote:
Wed Aug 28, 2019 9:31 pm
Dvorak212 wrote:
Wed Aug 28, 2019 4:37 pm
Nummerkins wrote:
Wed Aug 28, 2019 1:08 pm
Back on the topic of Fidelity...

I just transferred my Roth and Rollover IRAs to them after going from Vanguard to Merrill Edge. Fidelity gave me free trades (buy/sell Vanguard ETFs if I want) and reimbursed my ACAT out fees from ME.

I've had 529s (CMA also for cashback CC) with Fidelity for awhile due to Vanguard's $3000 minimum so this just further consolidated my accounts.

No real issues so far and I was able to get the above trade and reimbursement request completed in one phonecall.
Did you leave Merrill Edge for any particularly bad reason? Was thinking of giving them a shot down the road.
PM sent
I'd like to know as well.
PM sent to keep this thread about Fidelity

Cash
Posts: 1431
Joined: Wed Mar 10, 2010 10:52 am

Re: Fidelity as a one stop shop

Post by Cash » Fri Aug 30, 2019 4:59 pm

indexfundfan wrote:
Tue Aug 20, 2019 8:08 am
MikeG62 wrote:
Tue Aug 20, 2019 7:45 am
While I don't use Fidelity as a one-stop-shop (so not entirely on topic), I would add here that I recently discovered if I initiate an ACH transfer at Fidelity early in the morning the funds arrive at my B&M bank later that same day. [If the transfer is initiated mid or later in the day it arrives the next day.]

Did not realize I could do a same day ACH transfer from Fidelity.
Yes, I posted this about one week ago

viewtopic.php?f=2&t=266538&start=850#p4697670

The cut off time for the same-day ACH is 8am ET. The money reaches the external bank around noon, but it could take your bank some time to post.
Based on your post, I went back and checked an ACH to TD Bank that I initiated yesterday morning, and sure enough, it posted yesterday and not today. This is great!

Cash
Posts: 1431
Joined: Wed Mar 10, 2010 10:52 am

Re: Fidelity as a one stop shop

Post by Cash » Fri Aug 30, 2019 5:02 pm

mhalley wrote:
Sun Aug 25, 2019 8:13 pm
I have the need to give a relative some money on a regular basis. I tried the bluebird card, but there are no atm fee free atms nearby. I was wondering if I could setup another cma account and fund it and give him the atm card. I use my current cma account, but the brokerage account has zero dollars. Would the 2 cma accounts be totally separate, so he could not make charges beyond the amount I put in the second cma?
TD Bank actually has a good option for this. It's the TD Go Card: https://www.td.com/us/en/personal-banki ... able-card/. They market it for teens, but you can give it to anyone. Whenever we want to add money, we just go online and it comes from our TD checking account. It can be used like any other debit card, and you can monitor the balance and purchase activity.

User avatar
indexfundfan
Posts: 2696
Joined: Tue Feb 20, 2007 11:21 am
Contact:

Re: Fidelity as a one stop shop

Post by indexfundfan » Fri Aug 30, 2019 7:14 pm

Cash wrote:
Fri Aug 30, 2019 4:59 pm
indexfundfan wrote:
Tue Aug 20, 2019 8:08 am
MikeG62 wrote:
Tue Aug 20, 2019 7:45 am
While I don't use Fidelity as a one-stop-shop (so not entirely on topic), I would add here that I recently discovered if I initiate an ACH transfer at Fidelity early in the morning the funds arrive at my B&M bank later that same day. [If the transfer is initiated mid or later in the day it arrives the next day.]

Did not realize I could do a same day ACH transfer from Fidelity.
Yes, I posted this about one week ago

viewtopic.php?f=2&t=266538&start=850#p4697670

The cut off time for the same-day ACH is 8am ET. The money reaches the external bank around noon, but it could take your bank some time to post.
Based on your post, I went back and checked an ACH to TD Bank that I initiated yesterday morning, and sure enough, it posted yesterday and not today. This is great!
:happy
By the way, there is a limit of $25,000. Anything larger will be through next day ACH.
My signature has been deleted.

boston10
Posts: 34
Joined: Sun Aug 21, 2016 9:44 am

Re: Fidelity as a one stop shop

Post by boston10 » Fri Aug 30, 2019 7:25 pm

Does anyone know how long it takes for them to lift your mobile check deposit limit? How much money and/or how much time? Any datapoints would be appreciated.

BUBear29
Posts: 264
Joined: Wed Aug 19, 2015 4:20 pm
Location: Dallas, TX

Re: Fidelity as a one stop shop

Post by BUBear29 » Sat Aug 31, 2019 12:54 pm

Curious to get Fidelity users response here:

I have a taxable account I am saving for my daughters’ (2 currently under 2yo) future cars, wedding and house downpayment savings. I want this account to be a whole portfolio. I want to know what etf’s people at Fidelity would use to construct a whole portfolio in taxable. Currently I have 500 free trades (and only buy twice a year when rebalancing), and my thought for a portfolio was the following:
1) VT (Vanguard Total World etf) for stock position @ 80%
2) VTEB (Vanguard Muni tax exempt bond etf) @ 20%

Thoughts? Criticisms? I prefer not to use ishares etfs ar this time until the Vanguard patent expires in 2021 - want to see what Fidelity does with their index funds/eft options.
There is no dignity quite so impressive, and no one independence quite so important, as living within your means.

User avatar
vineviz
Posts: 5372
Joined: Tue May 15, 2018 1:55 pm

Re: Fidelity as a one stop shop

Post by vineviz » Sat Aug 31, 2019 1:01 pm

BUBear29 wrote:
Sat Aug 31, 2019 12:54 pm
Curious to get Fidelity users response here:

I have a taxable account I am saving for my daughters’ (2 currently under 2yo) future cars, wedding and house downpayment savings. I want this account to be a whole portfolio. I want to know what etf’s people at Fidelity would use to construct a whole portfolio in taxable. Currently I have 500 free trades (and only buy twice a year when rebalancing), and my thought for a portfolio was the following:
1) VT (Vanguard Total World etf) for stock position @ 80%
2) VTEB (Vanguard Muni tax exempt bond etf) @ 20%

Thoughts? Criticisms? I prefer not to use ishares etfs ar this time until the Vanguard patent expires in 2021 - want to see what Fidelity does with their index funds/eft options.
For a goal like this, 100% VT is as close to a while portfolio as anyone needs to get IMHO.

Why manage volatility at the cost of return in an investment with a 30 year horizon?
"Far more money has been lost by investors preparing for corrections than has been lost in corrections themselves." ~~ Peter Lynch

montee4
Posts: 17
Joined: Fri Jun 10, 2016 6:32 am

Re: Fidelity as a one stop shop

Post by montee4 » Sat Aug 31, 2019 1:17 pm

boston10 wrote:
Fri Aug 30, 2019 7:25 pm
Does anyone know how long it takes for them to lift your mobile check deposit limit? How much money and/or how much time? Any datapoints would be appreciated.
I don't know if it is time based. As an example, my SmartCash account which I have had with them for a long time still has a limit of 10K, but the brokerage account I opened a few months ago now has a 200K deposit limit. So that doesn't make sense to me based on any account age rules. It may be because I direct deposit my paychecks into the brokerage account, but am not 100% that is why.

User avatar
JoMoney
Posts: 7527
Joined: Tue Jul 23, 2013 5:31 am

Re: Fidelity as a one stop shop

Post by JoMoney » Sat Aug 31, 2019 4:45 pm

boston10 wrote:
Fri Aug 30, 2019 7:25 pm
Does anyone know how long it takes for them to lift your mobile check deposit limit? How much money and/or how much time? Any datapoints would be appreciated.
Huh :confused I didn't even know that was a variable thing. I'm "limited" to $50,000 a day in mobile check deposits. I thought that was just standard across the board.
"To achieve satisfactory investment results is easier than most people realize; to achieve superior results is harder than it looks." - Benjamin Graham

marcopolo
Posts: 2287
Joined: Sat Dec 03, 2016 10:22 am

Re: Fidelity as a one stop shop

Post by marcopolo » Sat Aug 31, 2019 5:16 pm

JoMoney wrote:
Sat Aug 31, 2019 4:45 pm
boston10 wrote:
Fri Aug 30, 2019 7:25 pm
Does anyone know how long it takes for them to lift your mobile check deposit limit? How much money and/or how much time? Any datapoints would be appreciated.
Huh :confused I didn't even know that was a variable thing. I'm "limited" to $50,000 a day in mobile check deposits. I thought that was just standard across the board.
I am not sure how they determine the limit, but it must vary. I discovered that ours is $500k/day when I went to deposit a check last week from settlement of selling our house.
Once in a while you get shown the light, in the strangest of places if you look at it right.

Cash
Posts: 1431
Joined: Wed Mar 10, 2010 10:52 am

Re: Fidelity as a one stop shop

Post by Cash » Sun Sep 01, 2019 4:00 pm

montee4 wrote:
Sat Aug 31, 2019 1:17 pm
boston10 wrote:
Fri Aug 30, 2019 7:25 pm
Does anyone know how long it takes for them to lift your mobile check deposit limit? How much money and/or how much time? Any datapoints would be appreciated.
I don't know if it is time based. As an example, my SmartCash account which I have had with them for a long time still has a limit of 10K, but the brokerage account I opened a few months ago now has a 200K deposit limit. So that doesn't make sense to me based on any account age rules. It may be because I direct deposit my paychecks into the brokerage account, but am not 100% that is why.
I deposit checks into my CMA very infrequently, but mine is $200k as well. But like you, I also receive direct deposits there.

User avatar
bostondan
Posts: 576
Joined: Sun Aug 18, 2013 12:21 pm
Location: Boston, MA

Re: Fidelity as a one stop shop

Post by bostondan » Mon Sep 02, 2019 12:25 pm

Just started switching everything over to Fidelity from Bank of America and have encountered the following issues:

1) Venmo does not appear to be supported anymore, despite what the Fidelity website says. It will not allow me to add by routing and account number. I chatted with Venmo and they said the routing number is not supported. There are some people on Twitter who seem to also have this issue. Fidelity keeps replying by just saying, "Please add your routing number and account number to Venmo." The Fidelity Twitter robot is clearly not actually reading the tweets.

2) Venmo cannot receive funds via Fidelity debit card, because the Fidelity debit card does not support instant transfer. So I could send money, but could not transfer it out of Venmo.

3) Zelle is not supported. I tried adding by debit card, but it does not work for the same reason as item 2 (no instant transfer support by Fidelity debit card).

Given how popular these money transfer services are, Fidelity should really work on getting them fully supported. I don't use Venmo or Zelle often enough to have this thwart my plan to use Fidelity, but I use them frequently enough that I expect this is going to be an annoying issue.
“There may be times when we are powerless to prevent injustice, but there must never be a time when we fail to protest.” - Elie Wiesel

BUBear29
Posts: 264
Joined: Wed Aug 19, 2015 4:20 pm
Location: Dallas, TX

Re: Fidelity as a one stop shop

Post by BUBear29 » Mon Sep 02, 2019 1:02 pm

My CMA is connected to my Venmo account. Can transfer money in and out with no issue.
There is no dignity quite so impressive, and no one independence quite so important, as living within your means.

User avatar
bostondan
Posts: 576
Joined: Sun Aug 18, 2013 12:21 pm
Location: Boston, MA

Re: Fidelity as a one stop shop

Post by bostondan » Mon Sep 02, 2019 1:05 pm

BUBear29 wrote:
Mon Sep 02, 2019 1:02 pm
My CMA is connected to my Venmo account. Can transfer money in and out with no issue.
Correct. That's why I added "does not appear to be supported anymore." It seems they are unable to connect new accounts to Venmo. I confirmed with Venmo that the routing number is on their list of unsupported accounts.

Perhaps Fidelity is using a new routing number for recently opened accounts, or something has changed on the Venmo side. On Twitter, people are reporting issues when adding new Fidelity accounts, or updating old ones. Anybody who has the account linked already does not seem to be experiencing problems.
“There may be times when we are powerless to prevent injustice, but there must never be a time when we fail to protest.” - Elie Wiesel

BUBear29
Posts: 264
Joined: Wed Aug 19, 2015 4:20 pm
Location: Dallas, TX

Re: Fidelity as a one stop shop

Post by BUBear29 » Mon Sep 02, 2019 1:17 pm

Same routing. Appears to be a Venmo issue
There is no dignity quite so impressive, and no one independence quite so important, as living within your means.

User avatar
bostondan
Posts: 576
Joined: Sun Aug 18, 2013 12:21 pm
Location: Boston, MA

Re: Fidelity as a one stop shop

Post by bostondan » Mon Sep 02, 2019 1:19 pm

BUBear29 wrote:
Mon Sep 02, 2019 1:17 pm
Same routing. Appears to be a Venmo issue

I wonder if your bank transfer would fail if you tried now. Venmo support seemed pretty clear that the routing number is not supported. Or perhaps it will be enabled again soon. All the Twitter comments are over the past couple weeks.
“There may be times when we are powerless to prevent injustice, but there must never be a time when we fail to protest.” - Elie Wiesel

User avatar
Artsdoctor
Posts: 4047
Joined: Thu Jun 28, 2012 3:09 pm
Location: Los Angeles, CA

Re: Fidelity as a one stop shop

Post by Artsdoctor » Mon Sep 02, 2019 2:37 pm

JoMoney wrote:
Sat Aug 31, 2019 4:45 pm
boston10 wrote:
Fri Aug 30, 2019 7:25 pm
Does anyone know how long it takes for them to lift your mobile check deposit limit? How much money and/or how much time? Any datapoints would be appreciated.
Huh :confused I didn't even know that was a variable thing. I'm "limited" to $50,000 a day in mobile check deposits. I thought that was just standard across the board.
I wish I could clarify but I can't. At Vanguard, the amount of time that it took to clear money pulled into the Advantage account took the same number of days at the beginning than years later. Also, Vanguard had a strict maximum on the mobile check deposits per day although I never challenged them.

At Fidelity, it seems to be far more fluid. I noticed that when I switched over from the Vanguard Advantage account several months ago, funds deposited into the Fidelity brokerage account from my Wells Fargo business account were held several days just like I had come to expect at Vanguard. However, I now pull funds from that same Wells Fargo account into the Fidelity brokerage account and they're ready the next day. Perhaps it's because I have plenty of money at Fidelity to cover it but Vanguard never loosened up its protocol.

Likewise, I was told there was a $50,000 daily limit at Fidelity for mobile deposits but I recent made a mobile deposit for more. I wasn't flagged and the deposit went through without a problem.

I can't advise anyone regarding data points. From my own personal experience, everything seems to happen faster at Fidelity and I find that their rules become more relaxed over time.

Murgatroyd
Posts: 270
Joined: Sun Jan 21, 2018 8:23 pm

Re: Fidelity as a one stop shop

Post by Murgatroyd » Mon Sep 02, 2019 2:55 pm

Artsdoctor wrote:
Mon Sep 02, 2019 2:37 pm
JoMoney wrote:
Sat Aug 31, 2019 4:45 pm
boston10 wrote:
Fri Aug 30, 2019 7:25 pm
Does anyone know how long it takes for them to lift your mobile check deposit limit? How much money and/or how much time? Any datapoints would be appreciated.
Huh :confused I didn't even know that was a variable thing. I'm "limited" to $50,000 a day in mobile check deposits. I thought that was just standard across the board.
I wish I could clarify but I can't. At Vanguard, the amount of time that it took to clear money pulled into the Advantage account took the same number of days at the beginning than years later. Also, Vanguard had a strict maximum on the mobile check deposits per day although I never challenged them.

At Fidelity, it seems to be far more fluid. I noticed that when I switched over from the Vanguard Advantage account several months ago, funds deposited into the Fidelity brokerage account from my Wells Fargo business account were held several days just like I had come to expect at Vanguard. However, I now pull funds from that same Wells Fargo account into the Fidelity brokerage account and they're ready the next day. Perhaps it's because I have plenty of money at Fidelity to cover it but Vanguard never loosened up its protocol.

Likewise, I was told there was a $50,000 daily limit at Fidelity for mobile deposits but I recent made a mobile deposit for more. I wasn't flagged and the deposit went through without a problem.

I can't advise anyone regarding data points. From my own personal experience, everything seems to happen faster at Fidelity and I find that their rules become more relaxed over time.
Based on a comment by our advisor, I believe he receives a notice every time unusual funds are moving in/out of our account. Perhaps there is a flexible approval mechanism also at work which may explain your experience. We are private client so maybe that’s where flexibility lies. Just speculation.

BUBear29
Posts: 264
Joined: Wed Aug 19, 2015 4:20 pm
Location: Dallas, TX

Re: Fidelity as a one stop shop

Post by BUBear29 » Mon Sep 02, 2019 3:26 pm

bostondan wrote:
Mon Sep 02, 2019 1:19 pm
BUBear29 wrote:
Mon Sep 02, 2019 1:17 pm
Same routing. Appears to be a Venmo issue

I wonder if your bank transfer would fail if you tried now. Venmo support seemed pretty clear that the routing number is not supported. Or perhaps it will be enabled again soon. All the Twitter comments are over the past couple weeks.
Nope it worked. I just sent $5 to my wife. Weird
There is no dignity quite so impressive, and no one independence quite so important, as living within your means.

User avatar
bostondan
Posts: 576
Joined: Sun Aug 18, 2013 12:21 pm
Location: Boston, MA

Re: Fidelity as a one stop shop

Post by bostondan » Mon Sep 02, 2019 3:29 pm

BUBear29 wrote:
Mon Sep 02, 2019 3:26 pm
bostondan wrote:
Mon Sep 02, 2019 1:19 pm
BUBear29 wrote:
Mon Sep 02, 2019 1:17 pm
Same routing. Appears to be a Venmo issue

I wonder if your bank transfer would fail if you tried now. Venmo support seemed pretty clear that the routing number is not supported. Or perhaps it will be enabled again soon. All the Twitter comments are over the past couple weeks.
Nope it worked. I just sent $5 to my wife. Weird
Maybe they just froze new accounts for some reason. Venmo might also have an issue once it actually tries to process the withdrawal from your Fidelity account, which takes a couple business days. It approves your transfer before actually taking it from your bank account.

Report back once you confirm it took the money from your Fidelity account. That will be helpful for when I report this bug. My wealth management guy has always been helpful in getting issues resolved at a high level. I already let him know about my initial issues, but he only replies to email during business hours.
“There may be times when we are powerless to prevent injustice, but there must never be a time when we fail to protest.” - Elie Wiesel

BUBear29
Posts: 264
Joined: Wed Aug 19, 2015 4:20 pm
Location: Dallas, TX

Re: Fidelity as a one stop shop

Post by BUBear29 » Mon Sep 02, 2019 3:46 pm

will do
There is no dignity quite so impressive, and no one independence quite so important, as living within your means.

boston10
Posts: 34
Joined: Sun Aug 21, 2016 9:44 am

Re: Fidelity as a one stop shop

Post by boston10 » Tue Sep 03, 2019 5:12 am

I paid a bill through bill pay to my condo association using a paper check, with a deliver by date of Friday 8/30. Now the pending bill pay transaction has disappeared, but the money hasn't yet been pulled from my account.

Is this just the way Fidelity works, where they don't pull the money from your account until the check is deposited and has cleared? I'm used to Bank of America's process, where if they send a paper check, they make your money unavailable on the deliver by date whether or not the payee has received or deposited it.

vtMaps
Posts: 559
Joined: Tue Oct 14, 2008 12:05 pm
Location: central Vermont

Re: Fidelity as a one stop shop

Post by vtMaps » Tue Sep 03, 2019 5:20 am

boston10 wrote:
Tue Sep 03, 2019 5:12 am
Is this just the way Fidelity works, where they don't pull the money from your account until the check is deposited and has cleared?
Yes. I wouldn't use a bill pay service that didn't work that way. --vtMaps
The optimist proclaims that we live in the best of all possible worlds; and the pessimist fears this is true. --James Branch Cabell

boston10
Posts: 34
Joined: Sun Aug 21, 2016 9:44 am

Re: Fidelity as a one stop shop

Post by boston10 » Tue Sep 03, 2019 5:41 am

vtMaps wrote:
Tue Sep 03, 2019 5:20 am
boston10 wrote:
Tue Sep 03, 2019 5:12 am
Is this just the way Fidelity works, where they don't pull the money from your account until the check is deposited and has cleared?
Yes. I wouldn't use a bill pay service that didn't work that way. --vtMaps
Depending on the volume of bills you're paying through paper checks, and how good the payees are at depositing them in a timely manner, this could create confusion. Part of the allure of bill pay is so I don't need to balance my checkbook; having to keep track of what checks have been deposited is kind of a pain. Then again, it allows me to keep more of my cash in my account for longer, so I get more interest. I suppose it all comes out in the wash; I'll get used to it.

BUBear29
Posts: 264
Joined: Wed Aug 19, 2015 4:20 pm
Location: Dallas, TX

Re: Fidelity as a one stop shop

Post by BUBear29 » Tue Sep 03, 2019 10:33 am

bostondan wrote:
Mon Sep 02, 2019 3:29 pm
BUBear29 wrote:
Mon Sep 02, 2019 3:26 pm
bostondan wrote:
Mon Sep 02, 2019 1:19 pm
BUBear29 wrote:
Mon Sep 02, 2019 1:17 pm
Same routing. Appears to be a Venmo issue

I wonder if your bank transfer would fail if you tried now. Venmo support seemed pretty clear that the routing number is not supported. Or perhaps it will be enabled again soon. All the Twitter comments are over the past couple weeks.
Nope it worked. I just sent $5 to my wife. Weird
Maybe they just froze new accounts for some reason. Venmo might also have an issue once it actually tries to process the withdrawal from your Fidelity account, which takes a couple business days. It approves your transfer before actually taking it from your bank account.

Report back once you confirm it took the money from your Fidelity account. That will be helpful for when I report this bug. My wealth management guy has always been helpful in getting issues resolved at a high level. I already let him know about my initial issues, but he only replies to email during business hours.
Venmo funds debited this morning from my CMA
There is no dignity quite so impressive, and no one independence quite so important, as living within your means.

Horsefly
Posts: 479
Joined: Sat Oct 24, 2015 8:13 am
Location: Colorado, mostly

Re: Fidelity as a one stop shop

Post by Horsefly » Tue Sep 03, 2019 12:49 pm

boston10 wrote:
Tue Sep 03, 2019 5:41 am
vtMaps wrote:
Tue Sep 03, 2019 5:20 am
boston10 wrote:
Tue Sep 03, 2019 5:12 am
Is this just the way Fidelity works, where they don't pull the money from your account until the check is deposited and has cleared?
Yes. I wouldn't use a bill pay service that didn't work that way. --vtMaps
Depending on the volume of bills you're paying through paper checks, and how good the payees are at depositing them in a timely manner, this could create confusion. Part of the allure of bill pay is so I don't need to balance my checkbook; having to keep track of what checks have been deposited is kind of a pain. Then again, it allows me to keep more of my cash in my account for longer, so I get more interest. I suppose it all comes out in the wash; I'll get used to it.
I don't actually use my CMA for bill pay, and this is one of the reasons. There's a period of time during which the payment doesn't show as pending, and doesn't show as paid. It's just nowhere. If you have enough such payments, it's easy to think maybe you forgot to make it. I don't like that.

I didn't like the way Wells Fargo did it either. They basically take the money from my checking as soon as they cut the check. If the check never gets cashed, it still shows as paid. In fact, you have to ask them to stop the check if the recipient lost it or otherwise doesn't cash it (this happened to me). This is one of many reasons I left Wells Fargo and went to Ally.

I'm having trouble remembering exactly how Ally does it, but I do know I like it better. I believe they mark a payment as being processed when they send the paper check, but they don't debit my checking account until the check is cleared. I like that better than either the way the Fidelity CMA does it or how Wells does it. I'd have to say, of the three I dislike the CMA way of doing it the most.

User avatar
bostondan
Posts: 576
Joined: Sun Aug 18, 2013 12:21 pm
Location: Boston, MA

Re: Fidelity as a one stop shop

Post by bostondan » Tue Sep 03, 2019 12:52 pm

BUBear29 wrote:
Tue Sep 03, 2019 10:33 am
bostondan wrote:
Mon Sep 02, 2019 3:29 pm
BUBear29 wrote:
Mon Sep 02, 2019 3:26 pm
bostondan wrote:
Mon Sep 02, 2019 1:19 pm
BUBear29 wrote:
Mon Sep 02, 2019 1:17 pm
Same routing. Appears to be a Venmo issue

I wonder if your bank transfer would fail if you tried now. Venmo support seemed pretty clear that the routing number is not supported. Or perhaps it will be enabled again soon. All the Twitter comments are over the past couple weeks.
Nope it worked. I just sent $5 to my wife. Weird
Maybe they just froze new accounts for some reason. Venmo might also have an issue once it actually tries to process the withdrawal from your Fidelity account, which takes a couple business days. It approves your transfer before actually taking it from your bank account.

Report back once you confirm it took the money from your Fidelity account. That will be helpful for when I report this bug. My wealth management guy has always been helpful in getting issues resolved at a high level. I already let him know about my initial issues, but he only replies to email during business hours.
Venmo funds debited this morning from my CMA
Good to know it theoretically works still. My local wealth management guy tried it himself this morning and was unable to add a new Fidelity account to his Venmo account. He felt this was concerning and is escalating the issue.
“There may be times when we are powerless to prevent injustice, but there must never be a time when we fail to protest.” - Elie Wiesel

boston10
Posts: 34
Joined: Sun Aug 21, 2016 9:44 am

Re: Fidelity as a one stop shop

Post by boston10 » Tue Sep 03, 2019 1:14 pm

Horsefly wrote:
Tue Sep 03, 2019 12:49 pm
boston10 wrote:
Tue Sep 03, 2019 5:41 am
vtMaps wrote:
Tue Sep 03, 2019 5:20 am
boston10 wrote:
Tue Sep 03, 2019 5:12 am
Is this just the way Fidelity works, where they don't pull the money from your account until the check is deposited and has cleared?
Yes. I wouldn't use a bill pay service that didn't work that way. --vtMaps
Depending on the volume of bills you're paying through paper checks, and how good the payees are at depositing them in a timely manner, this could create confusion. Part of the allure of bill pay is so I don't need to balance my checkbook; having to keep track of what checks have been deposited is kind of a pain. Then again, it allows me to keep more of my cash in my account for longer, so I get more interest. I suppose it all comes out in the wash; I'll get used to it.
I don't actually use my CMA for bill pay, and this is one of the reasons. There's a period of time during which the payment doesn't show as pending, and doesn't show as paid. It's just nowhere. If you have enough such payments, it's easy to think maybe you forgot to make it. I don't like that.

I didn't like the way Wells Fargo did it either. They basically take the money from my checking as soon as they cut the check. If the check never gets cashed, it still shows as paid. In fact, you have to ask them to stop the check if the recipient lost it or otherwise doesn't cash it (this happened to me). This is one of many reasons I left Wells Fargo and went to Ally.

I'm having trouble remembering exactly how Ally does it, but I do know I like it better. I believe they mark a payment as being processed when they send the paper check, but they don't debit my checking account until the check is cleared. I like that better than either the way the Fidelity CMA does it or how Wells does it. I'd have to say, of the three I dislike the CMA way of doing it the most.
I just noticed there's a section called "Outstanding BillPay Checks". That's pretty good, I think. The tooltip that pops up in you click the question mark says:

"This section includes the last 60 days of outstanding checks that have not been debited from your account. Items in red have a Deliver By date that is 10 or more days in the past."

I think that's reasonable enough to allow me to keep track, you just have to know where to look.

With Bank of America, the money is debited on the deliver by date - not before, and not after. It's simple and straightforward, without being as anti-consumer as the Wells Fargo approach (I also have a WF account and am annoyed by that). But the CMA approach that allows you to see the current status of billpay checks without taking the money out of your account is a pretty good one.

ghost9804
Posts: 22
Joined: Sun Apr 15, 2012 12:43 pm

Re: Fidelity as a one stop shop

Post by ghost9804 » Wed Sep 04, 2019 9:34 pm

BUBear29 wrote:
Sat Aug 10, 2019 10:16 pm
addicoe wrote:
Sat Aug 10, 2019 4:18 pm
So I ran into a snag today (Saturday). I went to a bank of america ATM to withdraw some cash from my CMA (which has overdraft turned on and $0 in it), but the transaction was declined due to insufficient funds. So it did not automatically overdraft any cash into the CMA from the investment account. Is that expected? That was one of the main reasons I was going to use Fidelity.
I read issues with this from others. So what i decided to do was maintain $500 (daily atm limit) in my cma and only use it for atm. I setup auto-replenish (minimum amount of $250 i believe) when the balance drops below $500. So the max that will ever be in the cma is $750. I use brokerage account as main account and for checking purposes. this setup has worked very well for me
When I set the auto-replenish with minimum target balance, it seems that Fidelity ignores the MM fund and only count the core FDIC sweep into the minimum balance, resulting in over funding the CMA. Is this also the case for you?

Also, another question is that, if I tap below the minimum target balance multiple times in one day, would it result in multiple auto-replenish actions? if so, then it setup seems not quite useful for fraud protection.

BUBear29
Posts: 264
Joined: Wed Aug 19, 2015 4:20 pm
Location: Dallas, TX

Re: Fidelity as a one stop shop

Post by BUBear29 » Wed Sep 04, 2019 9:55 pm

ghost9804 wrote:
Wed Sep 04, 2019 9:34 pm
BUBear29 wrote:
Sat Aug 10, 2019 10:16 pm
addicoe wrote:
Sat Aug 10, 2019 4:18 pm
So I ran into a snag today (Saturday). I went to a bank of america ATM to withdraw some cash from my CMA (which has overdraft turned on and $0 in it), but the transaction was declined due to insufficient funds. So it did not automatically overdraft any cash into the CMA from the investment account. Is that expected? That was one of the main reasons I was going to use Fidelity.
I read issues with this from others. So what i decided to do was maintain $500 (daily atm limit) in my cma and only use it for atm. I setup auto-replenish (minimum amount of $250 i believe) when the balance drops below $500. So the max that will ever be in the cma is $750. I use brokerage account as main account and for checking purposes. this setup has worked very well for me
When I set the auto-replenish with minimum target balance, it seems that Fidelity ignores the MM fund and only count the core FDIC sweep into the minimum balance, resulting in over funding the CMA. Is this also the case for you?

Also, another question is that, if I tap below the minimum target balance multiple times in one day, would it result in multiple auto-replenish actions? if so, then it setup seems not quite useful for fraud protection.
Hmm can’t answer your first question as I only keep $500 in my CMA in the FDIC portion. All my other funds are in brokerage account MM fund.

Fidelity checks the balance every night and transfer overnight. You’ll get a email notice if you set the alerts.
There is no dignity quite so impressive, and no one independence quite so important, as living within your means.

User avatar
bostondan
Posts: 576
Joined: Sun Aug 18, 2013 12:21 pm
Location: Boston, MA

Re: Fidelity as a one stop shop

Post by bostondan » Wed Sep 04, 2019 10:22 pm

bostondan wrote:
Tue Sep 03, 2019 12:52 pm
Good to know it theoretically works still. My local wealth management guy tried it himself this morning and was unable to add a new Fidelity account to his Venmo account. He felt this was concerning and is escalating the issue.
Well, it seems that it was effectively escalated and likely resolved. I was able to add the account to Venmo tonight and now just need to do the verification deposits to complete adding it.

However, I have had trial deposits rejected from Ally and Schwab while trying to add the Fidelity account as an external account. Both of them said that they received ACH error R23: Credit Entry Refused by Receiver.

Both Ally and Schwab say that the issue is not on their end and that Fidelity rejected the small deposit verifications for unclear reasons. Fidelity has been unable to give me a clear answer yet and claim that my account looks just fine and should have been able to receive the trial deposits. Everybody verified that I had the account info correct. I had copy/pasted the account/routing info from the Fidelity website, so a typo was not likely.

Strangely, I was able to connect my Capital One account without a problem. The trial deposits came through after 1 business day. Some other accounts successfully added that didn't require verification deposits, but I suppose it is possible those won't work if I actually try to do a transfer.

I'm not sure if it matters, but I used the longer account number from the Fidelity website for connecting all these accounts. I haven't yet received my checks, so I could not use the account number on the check. I spoke with someone at Fidelity who claims that both account numbers are perfectly fine and it should not matter. He said he routinely uses the longer non-check writing account number himself and has also used the account number found on his Fidelity checks, which is a bit shorter. They both have the same last 9 digits, which he says is what matters.

Hopefully these are all just some standard growing pains as I transition from Bank of America to Fidelity.
“There may be times when we are powerless to prevent injustice, but there must never be a time when we fail to protest.” - Elie Wiesel

BUBear29
Posts: 264
Joined: Wed Aug 19, 2015 4:20 pm
Location: Dallas, TX

Re: Fidelity as a one stop shop

Post by BUBear29 » Wed Sep 04, 2019 10:30 pm

bostondan wrote:
Wed Sep 04, 2019 10:22 pm
bostondan wrote:
Tue Sep 03, 2019 12:52 pm
Good to know it theoretically works still. My local wealth management guy tried it himself this morning and was unable to add a new Fidelity account to his Venmo account. He felt this was concerning and is escalating the issue.
Well, it seems that it was effectively escalated and likely resolved. I was able to add the account to Venmo tonight and now just need to do the verification deposits to complete adding it.

However, I have had trial deposits rejected from Ally and Schwab while trying to add the Fidelity account as an external account. Both of them said that they received ACH error R23: Credit Entry Refused by Receiver.

Both Ally and Schwab say that the issue is not on their end and that Fidelity rejected the small deposit verifications for unclear reasons. Fidelity has been unable to give me a clear answer yet and claim that my account looks just fine and should have been able to receive the trial deposits. Everybody verified that I had the account info correct. I had copy/pasted the account/routing info from the Fidelity website, so a typo was not likely.

Strangely, I was able to connect my Capital One account without a problem. The trial deposits came through after 1 business day. Some other accounts successfully added that didn't require verification deposits, but I suppose it is possible those won't work if I actually try to do a transfer.

I'm not sure if it matters, but I used the longer account number from the Fidelity website for connecting all these accounts. I haven't yet received my checks, so I could not use the account number on the check. I spoke with someone at Fidelity who claims that both account numbers are perfectly fine and it should not matter. He said he routinely uses the longer non-check writing account number himself and has also used the account number found on his Fidelity checks, which is a bit shorter. They both have the same last 9 digits, which he says is what matters.

Hopefully these are all just some standard growing pains as I transition from Bank of America to Fidelity.
strange that it didnt work for Ally or Schwab. Maybe better luck with the check numbers.

I’ve used the long version for my work DD, Chase CC, Citi CC and USAA CC no problem.

May work best to initally add the Schwab and Ally accounts to your Fidelity profile for transfer from Fidelity.

Glad the Venmo issue was fixed.
There is no dignity quite so impressive, and no one independence quite so important, as living within your means.

Post Reply