I have the bank account on my fidelity account but when I try to transfer money it says I need to link a bank account and it ends up just making me a new one
It's saying "We're sorry, but we can't process your request right now". I also have tried linking my bank many times in the past but each time it never works and I can never transfer money from my bank into my fidelity account.
mine says (Your (*####) account can't be instantly linked because the ownership information doesn't match your Fidelity account) and thats the same info and im the owner
Could be several reasons for that (different spellings of your name, different addresses, etc.). You'll likely have to link it manually with the transaction verification method.
First thing I'd try is just to double and triple check your routing and account numbers. If you are truly the owner, it should let you. Second thing I'd try is contacting support and working with them directly. There may be something happening on the back end that they can assist you with. If it still doesn't work, you can do it all manually, by snail mail (🤢). Basically on the page where you are giving all the information, there's a question of "Who owns this bank account?". If you select "Someone else" and then click "Continue", it will take you to an instruction page for filling out a manual form where you'll send in a voided check, etc. It also requires a Medallion Signature Guarantee which is a pain in the butt. But, it might be the only way. Again, best thing is to work with Fidelity Support directly. I'd be surprised if they couldn't help you.
It depends... but yes, it can take that long depending on your bank, whether or not you are a new user, have an obscure bank, as well as traffic on their site. I imagine that a lot of folks are opening accounts right now so their back office might be backed up.
I don't know why they ask for some types of documentation from some folks, but not others. It doesn't seem to be consistent based on other comments on this video. Regardless, a bank statement is a pretty normal way of validating that you own the account. They could also have asked for a voided check or a deposit slip.
Hey Jonathan! That was not part of the process for me. But it may have waived it since I simply linked using my bank account login info. But it makes sense that they need to verify the account.
I tried but it wouldn't allow me to link an account. I have an inactive 403b form my nonprofit days that I was hoping to dip into but it doesn't allow me to do that either. Would I just open a Fidelity Account?
Sort answer: Yes Long answer: Depending on what you are doing with your money at the time that you want to withdraw it, it make take 4-7 days before you actually see cash in your bank account. For example, if you put a bunch on money in, invest it in stocks/ETFs, etc. and then a month later decide to pull out, you'll need to: 1) sell all your investments 2) wait for the sales to finalize and clear (i.e. no pending transactions) - usually takes about 1-2 days 3) wait for the money to become "available for withdrawal - usually takes another 2-3 days. 4) initiate the withdrawal process 5) wait for the money to actually transfer into your checking account - usually takes another 1-2 days. So, it isn't a quick process, but you are free to do what you wish at any time. Does that make sense?
Apparently so. Admittedly I have never seen it but I've seen several folks comment on similar situations. It doesn't seem fishy to me or anything, but I guess depending on the bank you are using, they might want additional documentation. I personally use J. P. Morgan Chase which is huge and popular so I gather that they have a direct connection with them so its easier.
After all the steps mentioned in the video, there are some extra steps regarding verification of your bank account. I think I have done the verification but I still cannot fund my account. Don't know why!
@@theodyssey500 Yes. Directly call the customer care service. They are very active. Also, try to call them in east coast office hours. They will stay in line and try to figure out what is wrong and will follow up.
They need your info to verify that you are the account owner and to transfer the first bit of money. I wouldn't sweat it. Honestly most folks have more money in their brokerage than their checking account. If you get serious, you'll be the same later down the road.
I learned after making this video that verification processes differ depending on what bank you use. Mine just had me login and it was good to go. Others will have to verify deposits after a few days. I know this comment is about a week old - did you figure it out since then?
