transfer between capital one 360 and fidelity

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Topic Author
BlindPursuit
Posts: 25
Joined: Tue Jan 22, 2019 9:58 pm

transfer between capital one 360 and fidelity

Post by BlindPursuit » Mon Sep 23, 2019 11:27 am

I'm sorry if this has been asked and answered 1000 times already (seems likely but I can't find)

Is it possible to transfer money from a Capital One 360 account to my Fidelity brokerage account (and/or vice versa) without having a bank checking account as intermediary? It seems that Cap1 specifically insists on a bank checking account for transfers, and sadly this is the only reason I'm keeping my 0% interest PNC checking account right now.

Thanks for your help

BarbBrooklyn
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Joined: Fri Aug 24, 2018 9:33 am
Location: NYC

Re: transfer between capital one 360 and fidelity

Post by BarbBrooklyn » Mon Sep 23, 2019 11:43 am

Hmmm. I am able to transfer from my CapOne 360 to Vanguard quite seamlessly. I have a CapOne checking account but I dont need to use it for these transfers.

I just use the CapOne Routing number and my MM account number.
BarbBrooklyn | "The enemy of a good plan is the dream of a perfect plan."

EarlyRetirement1
Posts: 3
Joined: Sun Jun 16, 2019 5:23 pm

Re: transfer between capital one 360 and fidelity

Post by EarlyRetirement1 » Mon Sep 23, 2019 11:45 am

Yes, your Fidelity brokerage account can act as a "checking account" for inbound and outbound transfers. Login to Fidelity, click your preferred account, and click Routing Number at the top of the screen.

You will get a pop up showing a routing and account number (make sure you use the entire long account number). Use this information at Capital One to add a link to a checking account. It will show up a UMB Bank but the transfer will still work.

Fidelity routing number: 101205681
Account number: 39900000XXXXXXXXX

MotoTrojan
Posts: 9952
Joined: Wed Feb 01, 2017 8:39 pm

Re: transfer between capital one 360 and fidelity

Post by MotoTrojan » Mon Sep 23, 2019 11:53 am

EarlyRetirement1 wrote:
Mon Sep 23, 2019 11:45 am
Yes, your Fidelity brokerage account can act as a "checking account" for inbound and outbound transfers. Login to Fidelity, click your preferred account, and click Routing Number at the top of the screen.

You will get a pop up showing a routing and account number (make sure you use the entire long account number). Use this information at Capital One to add a link to a checking account. It will show up a UMB Bank but the transfer will still work.

Fidelity routing number: 101205681
Account number: 39900000XXXXXXXXX
+1. I even have my paycheck going directly to my Fidelity brokerage, which acts as my checking/savings.

Topic Author
BlindPursuit
Posts: 25
Joined: Tue Jan 22, 2019 9:58 pm

Re: transfer between capital one 360 and fidelity

Post by BlindPursuit » Mon Sep 23, 2019 12:02 pm

EarlyRetirement1 wrote:
Mon Sep 23, 2019 11:45 am
Yes, your Fidelity brokerage account can act as a "checking account" for inbound and outbound transfers. Login to Fidelity, click your preferred account, and click Routing Number at the top of the screen.

You will get a pop up showing a routing and account number (make sure you use the entire long account number). Use this information at Capital One to add a link to a checking account. It will show up a UMB Bank but the transfer will still work.

Fidelity routing number: 101205681
Account number: 39900000XXXXXXXXX
Thanks, I will try that. However I do see that Capital One specifically says on the page where you set up the transfer that

"Your link must be a personal checking account, not a brokerage, money market or savings account - institutions put restrictions on these types of accounts that prevent electronic transfers"

However, it did let me enter the Fidelity routing info as you suggested and promised to do the "we do a test transaction & you confirm thing", so we'll see.

Topic Author
BlindPursuit
Posts: 25
Joined: Tue Jan 22, 2019 9:58 pm

Re: transfer between capital one 360 and fidelity

Post by BlindPursuit » Tue Sep 24, 2019 5:59 pm

It turns out my problem was trying to set up the transfer on the Capital One side (i.e., push money from Capital One to Fidelity or pull money from Fidelity to Capital One).

That never worked.

What did work was setting up the transfer from the Fidelity side. Using my Capital One 360 routing & account numbers, I was able to get Fidelity to push money to, and pull money from, the Capital One account. Funny (and frustrating) that it didn't work the other way, but I guess it doesn't make a difference to me functionally.

Thank you to all the responders who assured me it was possible!

Rainmaker41
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Joined: Tue Apr 26, 2016 11:34 am

Re: transfer between capital one 360 and fidelity

Post by Rainmaker41 » Tue Sep 24, 2019 8:03 pm

Speaking of Capital One 360 ACH transfers initiated as a pull from a brokerage at a 3rd party, what transfer amounts have people here been able to use?

Capital One says there is a daily limit of $10k and a monthly limit of $25k, but does that apply to ACH transfers initiated from the other institution? I’m interested in what experiences others have had with this.

mrmass
Posts: 305
Joined: Thu Jul 26, 2018 6:35 pm

Re: transfer between capital one 360 and fidelity

Post by mrmass » Wed Sep 25, 2019 5:07 am

BlindPursuit wrote:
Tue Sep 24, 2019 5:59 pm
It turns out my problem was trying to set up the transfer on the Capital One side (i.e., push money from Capital One to Fidelity or pull money from Fidelity to Capital One).

That never worked.

What did work was setting up the transfer from the Fidelity side. Using my Capital One 360 routing & account numbers, I was able to get Fidelity to push money to, and pull money from, the Capital One account. Funny (and frustrating) that it didn't work the other way, but I guess it doesn't make a difference to me functionally.

Thank you to all the responders who assured me it was possible!
I had similar problems when I first started with Fidelity. Cap1 makes it very easy to move $ in and out by having clear account numbers and routing numbers. For me fidelity had subtle differences in how their account numbers and routing numbers were shown.

GrowthSeeker
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Joined: Tue May 15, 2018 10:14 pm

Re: transfer between capital one 360 and fidelity

Post by GrowthSeeker » Wed Sep 25, 2019 6:20 am

Beware one account with two different routing numbers.
As of a few years ago, Cap One had different routing numbers for at least some of their checking accounts depending on whether money was incoming or outgoing. Specifically, setting up payroll direct deposit to Cap One checking used one routing number, but transferring money from Cap One checking to Vanguard (by pulling it from Vanguard) required a different routing number. It's possible this is no longer an issue. Or it may only have been with direct deposit.

+1 for setting this up from the brokerage side so that the outside bank is the one with a checking or savings account.
Just because you're paranoid doesn't mean they're NOT out to get you.

Topic Author
BlindPursuit
Posts: 25
Joined: Tue Jan 22, 2019 9:58 pm

Re: transfer between capital one 360 and fidelity

Post by BlindPursuit » Wed Sep 25, 2019 9:23 am

Update one day later . . . as soon as I successfully set the Fidelity account to push-to/pull-from Capital One, two "micro deposit test amounts" from Capital One appeared in the Fidelity account (Capital One uses these test deposits to confirm the linked account). Previously these transactions never went through, which is why I could never successfully link the Fidelity account from within Capital One.

So now I have a new question: since I can now use either account to initiate a transfer, does it matter which one I use?

GrowthSeeker
Posts: 860
Joined: Tue May 15, 2018 10:14 pm

Re: transfer between capital one 360 and fidelity

Post by GrowthSeeker » Wed Sep 25, 2019 4:46 pm

BlindPursuit wrote:
Wed Sep 25, 2019 9:23 am
So now I have a new question: since I can now use either account to initiate a transfer, does it matter which one I use?
I'm pretty sure the answer is "yes". But each institution may have its own rules regarding maximum amount you can transfer out per day and/or per month by ACH; and whether or not there is any fee for doing so. Many will have a fee if you close the account.
Just because you're paranoid doesn't mean they're NOT out to get you.

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