Transferring Cash To Fidelity Investments: A Step-By-Step Guide

If you're looking to transfer your cash to investments in Fidelity, there are several ways to deposit money into a Fidelity account. You can set up payroll direct to an eligible Fidelity account, send money to or from a bank account with an electronic funds transfer (EFT), wire money from a bank or third-party account, deposit a check via mobile upload or mail a paper check, transfer money from one Fidelity account to another, or transfer money via a third-party payment app like Venmo or PayPal.

Transfer money from a bank account with an electronic funds transfer (EFT)

To transfer money from a bank account with an electronic funds transfer (EFT), you will first need to link your bank account to your Fidelity account. This process usually takes a few minutes, but it can take up to 7-10 days if you need to provide additional documentation to verify your bank account ownership.

To link your bank account, you will need to provide your bank account's routing and account numbers. Alternatively, you can log in to your bank with your username and password to establish a faster connection between the accounts. You will also need to verify your identity.

Once your bank account is linked, you can start the transfer process. EFTs are typically received within 3-5 business days, but funds may be available for trading sooner. EFTs are not processed on weekends or bank holidays, and requests entered after 4 pm ET will not be processed until the next business day.

There is no limit to the number of EFTs you can submit per business day. The minimum amount for each EFT deposit is $0.01 for non-retirement and retirement brokerage accounts, and the maximum amount per day is $100,000 for withdrawals and $250,000 for deposits.

It is important to note that while Fidelity does not charge a fee for sending or receiving EFTs, the receiving bank may charge a fee.

Wire money from a bank or third-party account

To wire money from a bank or third-party account to your Fidelity account, you will need to start the process with the external institution you are sending the money from. This can be done by following the instructions provided by your bank or third-party vendor.

Fidelity does not charge a fee to receive wire transfers, but your bank or vendor may charge a fee to send one.

Before wiring money to your Fidelity account, you will need to link your bank account. To do this, log in to your Fidelity account, go to "Linked accounts and banks", and select the button to link a new bank account. After verifying your identity, you can choose to securely link your bank using Plaid or manually enter your routing and account numbers.

Note that it is important to verify that the bank account information you provide is correct.

Deposit a check via mobile upload or mail

Depositing a check via mobile upload or mail is a safe and fast way to deposit checks without having to wait in line. Here's how you can deposit a check via the Fidelity Investments app:

• Open the app and select "Transact" at the bottom of the screen.
• Select "Deposit Checks" and agree to the terms of use.
• Choose the account where you want the deposit to go.
• Enter the dollar amount on the check and sign it.
• Take a clear photo of the front and back of the check and select "Submit".

The app is available on Apple, Android, and Amazon devices. You can also deposit a check by mail. Here are the steps:

• Complete the appropriate deposit or contribution form and enclose a printed version along with your check.
• Write your account number and, if applicable, contribution year, in the memo field of your check.
• Make the check payable to the correct Fidelity entity, depending on the type of account.
• Mail your check to the appropriate address, depending on the type of account and whether you are using standard or overnight/certified mail.
• Allow five business days for US mail delivery.

Transfer money from one Fidelity account to another

Transferring money from one Fidelity account to another is a straightforward process. Here is a step-by-step guide:

Step 1: Log In to Your Fidelity Account

Access your account on the Fidelity website or mobile app using your credentials.

Step 2: Navigate to the Transfer Option

Once you are logged in, find and select the option to transfer money between Fidelity accounts. This is usually found under a "Transfer Money" or "Transfers" section.

Step 3: Select the Accounts

Choose the specific Fidelity account from which you want to transfer the funds and the target Fidelity account that will receive the funds. You will need to ensure that you have the necessary account information, such as account numbers, for both the sending and receiving accounts.

Step 4: Enter the Transfer Amount and Review

Enter the amount of money you wish to transfer. Double-check that all the details of the transaction are correct, including the accounts and the amount.

Step 5: Confirm and Initiate the Transfer

After reviewing the transfer details, confirm the transaction. This will initiate the transfer process, and the funds will be moved from one Fidelity account to the other.

It is important to note that while Fidelity does not typically charge fees for transferring money between Fidelity accounts, you should always review any associated terms and conditions, as well as any applicable laws, to ensure you understand any potential costs, limitations, or restrictions that may apply to your specific transfer.

Additionally, if you are transferring investments as part of this process, there may be specific requirements or considerations, such as those outlined in the section "How to Transfer from Cash to Investments in Fidelity" below.

How to Transfer from Cash to Investments in Fidelity:

Transferring from cash to investments within your Fidelity account involves a few considerations:

• Timing: Depending on the type of investment and your account, the transferred cash may not be immediately available for investing. It could take a few days for the money to settle before you can use it to purchase investments.
• Investment Options: You can use the available cash in your core account to purchase various investments offered by Fidelity, such as stocks, bonds, mutual funds, or options.
• Contribution Limits: Be mindful of any contribution limits or restrictions that may apply to the specific type of investment account you are transferring money into. For example, retirement accounts like IRAs, 401(k)s, or 403(b)s have annual contribution limits that you must stay within to avoid penalties.
• Fees: Review any fees associated with the specific investments you are considering. For example, mutual funds may have transaction fees, redemption fees, or load fees. These fees can impact the total amount of money available for investment and the overall return on your investments.
• Risk Disclosure: Investing involves risk. Before making any investment decisions, it is essential to understand the risks associated with the specific investments you are considering. The value of your investments can fluctuate, and you may gain or lose money.

Transfer money via a third-party payment app

Transferring money via a third-party payment app is a convenient way to move money into your Fidelity account. There are a few ways to do this, depending on the app you're using.

PayPal

To transfer money to your Fidelity account from PayPal, you will need to add your Fidelity account using your account and routing number. You can do this by going to PayPal.com or using the PayPal mobile app. Once your account setup is complete, you can initiate a money transfer to Fidelity from PayPal.

Venmo

There are a few ways to connect your Venmo account to your Fidelity account:

• Link to your Fidelity® Debit Card
• Manually enter your routing and account information
• Send money directly to Venmo accounts via the Fidelity App

Apple Pay Cash

To link your Apple Pay Cash app to your Fidelity account, use your Fidelity account and routing number, or your Fidelity debit or credit cards.

Square Cash

To send money to your Fidelity account from the Square Cash app, link your account using a Fidelity debit or credit card. You won't be able to receive funds to your Fidelity account from this app.

Note: When connecting to an app via a Fidelity account and routing number, the app will refer to UMB Bank, our banking partner.

Frequently asked questions