Fidelity - Automatic Investment from Payroll Direct Deposit

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stormswami
Posts: 63
Joined: Tue Sep 17, 2013 4:48 am
Location: Oklahoma

Fidelity - Automatic Investment from Payroll Direct Deposit

Post by stormswami » Sat Feb 09, 2019 11:38 pm

I recently opened a Fidelity HSA account and was hoping to make automatic NTF mutual fund purchases via every-two-week payroll direct deposit. This is something I currently do with Vanguard, but for the life of me, I can't find a similar option with Fidelity. I see options to deduct from an external bank account and/or schedule monthly mutual purchases from the cash core fund, but seemingly there's no way to handle variable investment amounts automatically.

I just want to make sure I'm not missing something. I'm all ears if there are any suggestions for alternative HSA providers for low-cost auto-pilot purchases via payroll deduction. I currently have HSA Bank for my health plan's pass-through contributions, which can be linked to TD Ameritrade, but I'd prefer to not have to make manual ETF purchases in order to get the lowest cost/no fee investments.

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HueyLD
Posts: 7112
Joined: Mon Jan 14, 2008 10:30 am

Re: Fidelity - Automatic Investment from Payroll Direct Deposit

Post by HueyLD » Sun Feb 10, 2019 9:12 am

On Fido's HSA account application form, payroll deduction is the first choice in funding your HSA.

https://www.fidelity.com/bin-public/060 ... n-only.pdf

If you can't figure out how to do it online, you can call Fido customer support as they are open 24x7.

mike512usa
Posts: 16
Joined: Wed Sep 27, 2017 7:30 pm

Re: Fidelity - Automatic Investment from Payroll Direct Deposit

Post by mike512usa » Sun Feb 10, 2019 10:15 am

I don't know if it is just me but their cash core thing is stupid. If I wanted that I would just set up another fund, fund that and transfer funds when needed to wherever. This forces you to fund the cash core then transfer which is redundant to me. I don't see any other way around it. If there is please let me know. Fidelity is a secondary IRA account that I fund so I have just recently been playing with their website. I have found the websites of my pension fund, 401k/457s, and vanguard much easier to use.

mike512usa
Posts: 16
Joined: Wed Sep 27, 2017 7:30 pm

Re: Fidelity - Automatic Investment from Payroll Direct Deposit

Post by mike512usa » Wed Feb 13, 2019 4:28 am

I have spent several days playing around on the Fidelity website. It appears you can do this under accounts & trades > update accounts/features > automatic investments . You can choose for it to go directly to a fund and not the core account. I have not done this yet but it was nice to discover. Honestly, the fidelity website is a bit overwhelming to me. It has many, many features . . . so many it is like jumping into a rushing river to me. At times it seems useful info is hard to discover. I was attempting to find the return on my Core position which was FDIC deposits. Never cared before because I don't keep funds in it but I was going to park some possibly. That was an adventure to discover the info.

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