Fidelity as a one stop shop

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pasadena
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Re: Fidelity as a one stop shop

Post by pasadena »

muffins14 wrote: Tue Mar 28, 2023 2:26 pm
hkcj wrote: Tue Mar 28, 2023 1:21 pm
muffins14 wrote: Tue Mar 28, 2023 11:58 am
manlymatt83 wrote: Tue Mar 28, 2023 11:45 am Has anyone ever used their Fidelity CMA to have Amex auto-debit a credit card payment? Work ok? Did you use long or short account number?

DW and I are going to be setting up a joint Fidelity CMA and the joint credit card is with Amex. Want to make sure we won't have a problem setting up Autopay with Amex.
Not with Amex, but I have done it with Chase and Fidelity Visa cards. Long account number. If you click on some button like "show account and routing number" on your Fidelity page, it will show you the account number and routing information that you plug in when setting up auto-debit for online services.

I pay my credit cards and utility bills with this
I had to search for "direct deposit" in help, which then linked to this page with the routing & account numbers. They have a new (anti-helpful, IMO) direct deposit feature they try to send you to now which will attempt to automatically set up such things for you.
I've never heard of that before, but that page seems fine too.

When I log into Fidelity website on a computer I am on a page that has big letters and says "All accounts". There are subheadings like: Summary, Positions, Balances, Activity & Orders ... On the left side of the page there is a row for each of my accounts (Brokerage, Roth, 401k, HSA etc).

If I click on brokerage, the page that loads is a similar format, and says "Brokerae" in big letters, along with the subheadings Summary, Positions... etc etc.

Immediately to the right of "Brokerage", there are 3 dots. If you click on them, it shows me the routing number and account number

On the mobile app, you can click on one of your accounts like "Brokerage", and then if you scroll to the bottom there is a link that says "View Account and Routing Number"
CrazyCatLady wrote: Tue Mar 28, 2023 8:17 pm
manlymatt83 wrote: Tue Mar 28, 2023 11:45 am Has anyone ever used their Fidelity CMA to have Amex auto-debit a credit card payment? Work ok? Did you use long or short account number?

DW and I are going to be setting up a joint Fidelity CMA and the joint credit card is with Amex. Want to make sure we won't have a problem setting up Autopay with Amex.
I did it for the first time this month (autopay set for the minimum plus a second payment for the remainder of the balance). It worked with no problem and I used the long account number.
Maybe you guys can help me. I'm trying to link my Amex account to my Fidelity CMA and I'm getting a completely unhelpful error message from Amex.

On Amex side, Add New Bank Account. I enter the Fidelity routing number (101205681) and the long account number that I found on the "Balances" page in Fidelity, or on this link (thanks for that @hkcj). The number is 17 characters long, starting with 39900000. My CMA account is a "Z" account.

I also choose "Personal checking" in the dropdown list.

And I get this error: "We're sorry, but we could not connect this bank account to your account. Please try again."

Does anyone has any idea what's going on? Should I try again on Monday (?!)

Edit: Transfer lockdown is OFF on my CMA account.
muffins14
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Re: Fidelity as a one stop shop

Post by muffins14 »

pasadena wrote: Sat May 20, 2023 9:52 am
Maybe you guys can help me. I'm trying to link my Amex account to my Fidelity CMA and I'm getting a completely unhelpful error message from Amex.

On Amex side, Add New Bank Account. I enter the Fidelity routing number (101205681) and the long account number that I found on the "Balances" page in Fidelity, or on this link (thanks for that @hkcj). The number is 17 characters long, starting with 39900000. My CMA account is a "Z" account.

I also choose "Personal checking" in the dropdown list.

And I get this error: "We're sorry, but we could not connect this bank account to your account. Please try again."

Does anyone has any idea what's going on? Should I try again on Monday (?!)

Edit: Transfer lockdown is OFF on my CMA account.
Hmm. When I have used fidelity as an autopay for some credit cards, I did what you did. The routing number plus the 399000——— number. I don’t think the Z or X etc numbers are ever used for external-facing things.

I’d just recommend calling Amex to ask them what might be going wrong
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JoMoney
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Re: Fidelity as a one stop shop

Post by JoMoney »

pasadena wrote: Sat May 20, 2023 9:52 am...
Maybe you guys can help me. I'm trying to link my Amex account to my Fidelity CMA and I'm getting a completely unhelpful error message from Amex.

On Amex side, Add New Bank Account. I enter the Fidelity routing number (101205681) and the long account number that I found on the "Balances" page in Fidelity, or on this link (thanks for that @hkcj). The number is 17 characters long, starting with 39900000. My CMA account is a "Z" account.

I also choose "Personal checking" in the dropdown list.

And I get this error: "We're sorry, but we could not connect this bank account to your account. Please try again."

Does anyone has any idea what's going on? Should I try again on Monday (?!)

Edit: Transfer lockdown is OFF on my CMA account.
I don't know anything about Amex account's or why they would have a problem adding it. You would probably have to contact Amex to find out why, while 17 characters might seem like a long account number that's within the standard for ACH/bank accounts.
I did note want to point out/note that "Transfer Lockdown" doesn't impact ACH transfers at all. You can have "Transfer Lockdown" turned on and continue to access "cash" via ACH debits, ATM/debit card, checks... the "Transfer Lockdown" stops ACATS transfer of brokerage accounts and securities, as well as initiating electronic transfers from the Fidelity side.
"To achieve satisfactory investment results is easier than most people realize; to achieve superior results is harder than it looks." - Benjamin Graham
pasadena
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Re: Fidelity as a one stop shop

Post by pasadena »

muffins14 wrote: Sat May 20, 2023 10:02 am
pasadena wrote: Sat May 20, 2023 9:52 am
Maybe you guys can help me. I'm trying to link my Amex account to my Fidelity CMA and I'm getting a completely unhelpful error message from Amex.

On Amex side, Add New Bank Account. I enter the Fidelity routing number (101205681) and the long account number that I found on the "Balances" page in Fidelity, or on this link (thanks for that @hkcj). The number is 17 characters long, starting with 39900000. My CMA account is a "Z" account.

I also choose "Personal checking" in the dropdown list.

And I get this error: "We're sorry, but we could not connect this bank account to your account. Please try again."

Does anyone has any idea what's going on? Should I try again on Monday (?!)

Edit: Transfer lockdown is OFF on my CMA account.
Hmm. When I have used fidelity as an autopay for some credit cards, I did what you did. The routing number plus the 399000——— number. I don’t think the Z or X etc numbers are ever used for external-facing things.

I’d just recommend calling Amex to ask them what might be going wrong
Hmmm well it just worked. I removed transfer lockdown on all my accounts, where before I had only removed it on the CMA. Not sure if that's what did it, or if it's just coincidence and Amex's backend systems were down. Weird.
tj
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Re: Fidelity as a one stop shop

Post by tj »

muffins14 wrote: Sat May 20, 2023 10:02 am
pasadena wrote: Sat May 20, 2023 9:52 am
Maybe you guys can help me. I'm trying to link my Amex account to my Fidelity CMA and I'm getting a completely unhelpful error message from Amex.

On Amex side, Add New Bank Account. I enter the Fidelity routing number (101205681) and the long account number that I found on the "Balances" page in Fidelity, or on this link (thanks for that @hkcj). The number is 17 characters long, starting with 39900000. My CMA account is a "Z" account.

I also choose "Personal checking" in the dropdown list.

And I get this error: "We're sorry, but we could not connect this bank account to your account. Please try again."

Does anyone has any idea what's going on? Should I try again on Monday (?!)

Edit: Transfer lockdown is OFF on my CMA account.
Hmm. When I have used fidelity as an autopay for some credit cards, I did what you did. The routing number plus the 399000——— number. I don’t think the Z or X etc numbers are ever used for external-facing things.

I’d just recommend calling Amex to ask them what might be going wrong
I thought fidelity has a page that shows which digits get substituted for the X or Z.
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JoMoney
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Re: Fidelity as a one stop shop

Post by JoMoney »

tj wrote: Sat May 20, 2023 10:19 am
muffins14 wrote: Sat May 20, 2023 10:02 am
pasadena wrote: Sat May 20, 2023 9:52 am
Maybe you guys can help me. I'm trying to link my Amex account to my Fidelity CMA and I'm getting a completely unhelpful error message from Amex.

On Amex side, Add New Bank Account. I enter the Fidelity routing number (101205681) and the long account number that I found on the "Balances" page in Fidelity, or on this link (thanks for that @hkcj). The number is 17 characters long, starting with 39900000. My CMA account is a "Z" account.

I also choose "Personal checking" in the dropdown list.

And I get this error: "We're sorry, but we could not connect this bank account to your account. Please try again."

Does anyone has any idea what's going on? Should I try again on Monday (?!)

Edit: Transfer lockdown is OFF on my CMA account.
Hmm. When I have used fidelity as an autopay for some credit cards, I did what you did. The routing number plus the 399000——— number. I don’t think the Z or X etc numbers are ever used for external-facing things.

I’d just recommend calling Amex to ask them what might be going wrong
I thought fidelity has a page that shows which digits get substituted for the X or Z.
They do, and the hyperlink that is in the post above will take a Fidelity user to a page showing proper ACH standard account number to use for this.
"To achieve satisfactory investment results is easier than most people realize; to achieve superior results is harder than it looks." - Benjamin Graham
pasadena
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Re: Fidelity as a one stop shop

Post by pasadena »

tj wrote: Sat May 20, 2023 10:19 am
muffins14 wrote: Sat May 20, 2023 10:02 am
pasadena wrote: Sat May 20, 2023 9:52 am
Maybe you guys can help me. I'm trying to link my Amex account to my Fidelity CMA and I'm getting a completely unhelpful error message from Amex.

On Amex side, Add New Bank Account. I enter the Fidelity routing number (101205681) and the long account number that I found on the "Balances" page in Fidelity, or on this link (thanks for that @hkcj). The number is 17 characters long, starting with 39900000. My CMA account is a "Z" account.

I also choose "Personal checking" in the dropdown list.

And I get this error: "We're sorry, but we could not connect this bank account to your account. Please try again."

Does anyone has any idea what's going on? Should I try again on Monday (?!)

Edit: Transfer lockdown is OFF on my CMA account.
Hmm. When I have used fidelity as an autopay for some credit cards, I did what you did. The routing number plus the 399000——— number. I don’t think the Z or X etc numbers are ever used for external-facing things.

I’d just recommend calling Amex to ask them what might be going wrong
I thought fidelity has a page that shows which digits get substituted for the X or Z.
Yes, it ends up being a 17-characters long number starting with 39900000. The Z becomes a 7.
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JoMoney
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Re: Fidelity as a one stop shop

Post by JoMoney »

An interesting feature of Fidelity's debit card that rarely gets mentioned, is the "enhanced benefits" that it comes with.
https://www.fidelity.com/bin-public/060 ... olders.pdf
You don't find many bank debit cards that offer rental car CDW coverage, it's gotten harder to even find that on regular credit cards (-Fidelity's credit card offering doesn't have that.) It also has other card benefit services like roadside assistance, emergency travel assistance, and more... not common on debit cards. It probably doesn't get mentioned because most people on here tend to use credit cards for all those benefits (as well as rental car companies not liking to accept debit cards)... but if one was going to use a debit card, the Fidelity CMA/Brokerage account debit card has a lot to offer that most bank debit cards don't.
"To achieve satisfactory investment results is easier than most people realize; to achieve superior results is harder than it looks." - Benjamin Graham
fordp
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Re: Fidelity as a one stop shop

Post by fordp »

Did Fidelity remove the 'personal advisor' assigned to an account? I used to see one, now I don't in my account. I haven't changed anything. I'm not sure if my account is downgraded ?

If I need to speak to someone there about transferring assets from another firm, whats the best way? just call the number or make an appointment with a local branch?
Gadget
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Re: Fidelity as a one stop shop

Post by Gadget »

Phaedrus wrote: Fri May 19, 2023 8:51 pm Are there risks in investing in FSIXX (https://fundresearch.fidelity.com/mutua ... /233809300) over FDLXX (https://fundresearch.fidelity.com/mutua ... /31617H300)? The former has a much higher minimum and, as a result of lower fees, higher yield, but I wonder if I am missing some risks if it's an institutional class fund that may, e.g., gate more than FDLXX. In particular, I am trying to ensure I am not missing some sort of incremental risk given the current drama over the debt ceiling.
I'm not sure anyone knows the answer. I'd also like to know if FSIXX and FMPXX have any additional risk. I suppose if anyone knew what would happen exactly in the event of a default, we'd be seeing large volatility and movement of bonds, money market funds, etc. My guess is that everyone is just as clueless as we are.
TdF fan
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Re: Fidelity as a one stop shop

Post by TdF fan »

fordp wrote: Mon May 22, 2023 6:50 pm Did Fidelity remove the 'personal advisor' assigned to an account? I used to see one, now I don't in my account. I haven't changed anything. I'm not sure if my account is downgraded ?

If I need to speak to someone there about transferring assets from another firm, whats the best way? just call the number or make an appointment with a local branch?
I noticed my "Personal Advisor" has been removed as of a couple of days ago. My account has not been downgraded, it still says Private Client. I wondered if it was because I never returned my advisor's calls nor emails. I'm not worried about it though, I'm actually kind of glad I don't have to see his picture every time I log in :-D

In any case, I normally start with the online chat for issues. I have to put "representative" in the chat box to get an actual person, but it works for me. Sometimes the chat representative directs me to call. I personally would call the number first before going to the local branch.
fordp
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Re: Fidelity as a one stop shop

Post by fordp »

TdF fan wrote: Mon May 22, 2023 8:22 pm
fordp wrote: Mon May 22, 2023 6:50 pm Did Fidelity remove the 'personal advisor' assigned to an account? I used to see one, now I don't in my account. I haven't changed anything. I'm not sure if my account is downgraded ?

If I need to speak to someone there about transferring assets from another firm, whats the best way? just call the number or make an appointment with a local branch?
I noticed my "Personal Advisor" has been removed as of a couple of days ago. My account has not been downgraded, it still says Private Client. I wondered if it was because I never returned my advisor's calls nor emails. I'm not worried about it though, I'm actually kind of glad I don't have to see his picture every time I log in :-D

In any case, I normally start with the online chat for issues. I have to put "representative" in the chat box to get an actual person, but it works for me. Sometimes the chat representative directs me to call. I personally would call the number first before going to the local branch.
Thank you. Where do you see 'private client', in the Profile page or 'Account features' ? I'm not seeing anything, the profile page just shows options for my email/phone number.
TdF fan
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Re: Fidelity as a one stop shop

Post by TdF fan »

fordp wrote: Mon May 22, 2023 8:27 pm
TdF fan wrote: Mon May 22, 2023 8:22 pm
fordp wrote: Mon May 22, 2023 6:50 pm Did Fidelity remove the 'personal advisor' assigned to an account? I used to see one, now I don't in my account. I haven't changed anything. I'm not sure if my account is downgraded ?

If I need to speak to someone there about transferring assets from another firm, whats the best way? just call the number or make an appointment with a local branch?
I noticed my "Personal Advisor" has been removed as of a couple of days ago. My account has not been downgraded, it still says Private Client. I wondered if it was because I never returned my advisor's calls nor emails. I'm not worried about it though, I'm actually kind of glad I don't have to see his picture every time I log in :-D

In any case, I normally start with the online chat for issues. I have to put "representative" in the chat box to get an actual person, but it works for me. Sometimes the chat representative directs me to call. I personally would call the number first before going to the local branch.
Thank you. Where do you see 'private client', in the Profile page or 'Account features' ? I'm not seeing anything, the profile page just shows options for my email/phone number.
It's on the page where I first log in. It says "All Accounts" (the Summary tab) and near the top right hand corner (not all the way in the corner of the page) there is a drop-down box that says "Contact your team Fidelity Private Client Group". When I click on it, it shows the 800 number. By the way, I'm using the "Beta view", but the regular view has basically the same thing. Just to be clear, I'm describing what I see in my browser on my desktop pc.
Last edited by TdF fan on Mon May 22, 2023 8:52 pm, edited 1 time in total.
nonnie
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Re: Fidelity as a one stop shop

Post by nonnie »

I have treasuries maturing on Thursday, 5/25. Rather than rolling over I've decided to hang out in FZDXX for a bit. Can I enter a purchase order for FDZXX to execute on 5/25? (It's faster to ask here than to call Fido)

I've decided to try to track actual expenses for 2023. There aren't a lot and I'm currently trying to decide between a spreadsheet and Mint. For either is there a best way to DL the Fidelity data which probably covers 80% of my income and expenses?

Thanks much!
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fetch5482
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Re: Fidelity as a one stop shop

Post by fetch5482 »

TdF fan wrote: Mon May 22, 2023 8:33 pm
fordp wrote: Mon May 22, 2023 8:27 pm
TdF fan wrote: Mon May 22, 2023 8:22 pm
fordp wrote: Mon May 22, 2023 6:50 pm Did Fidelity remove the 'personal advisor' assigned to an account? I used to see one, now I don't in my account. I haven't changed anything. I'm not sure if my account is downgraded ?

If I need to speak to someone there about transferring assets from another firm, whats the best way? just call the number or make an appointment with a local branch?
I noticed my "Personal Advisor" has been removed as of a couple of days ago. My account has not been downgraded, it still says Private Client. I wondered if it was because I never returned my advisor's calls nor emails. I'm not worried about it though, I'm actually kind of glad I don't have to see his picture every time I log in :-D

In any case, I normally start with the online chat for issues. I have to put "representative" in the chat box to get an actual person, but it works for me. Sometimes the chat representative directs me to call. I personally would call the number first before going to the local branch.
Thank you. Where do you see 'private client', in the Profile page or 'Account features' ? I'm not seeing anything, the profile page just shows options for my email/phone number.
It's on the page where I first log in. It says "All Accounts" (the Summary tab) and near the top right hand corner (not all the way in the corner of the page) there is a drop-down box that says "Contact your team Fidelity Private Client Group". When I click on it, it shows the 800 number. By the way, I'm using the "Beta view", but the regular view has basically the same thing.
If you use the beta app, atleast on Android, if I go to settings -> profile and click on my financial advisor name/photo it shows me status.
(AGE minus 23%) Bonds | 5% REITs | Balance 80% US (75/25 TSM/SCV) + 20% International (80/20 Developed/Emerging)
fordp
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Re: Fidelity as a one stop shop

Post by fordp »

TdF fan wrote: Mon May 22, 2023 8:33 pm
fordp wrote: Mon May 22, 2023 8:27 pm
TdF fan wrote: Mon May 22, 2023 8:22 pm
fordp wrote: Mon May 22, 2023 6:50 pm Did Fidelity remove the 'personal advisor' assigned to an account? I used to see one, now I don't in my account. I haven't changed anything. I'm not sure if my account is downgraded ?

If I need to speak to someone there about transferring assets from another firm, whats the best way? just call the number or make an appointment with a local branch?
I noticed my "Personal Advisor" has been removed as of a couple of days ago. My account has not been downgraded, it still says Private Client. I wondered if it was because I never returned my advisor's calls nor emails. I'm not worried about it though, I'm actually kind of glad I don't have to see his picture every time I log in :-D

In any case, I normally start with the online chat for issues. I have to put "representative" in the chat box to get an actual person, but it works for me. Sometimes the chat representative directs me to call. I personally would call the number first before going to the local branch.
Thank you. Where do you see 'private client', in the Profile page or 'Account features' ? I'm not seeing anything, the profile page just shows options for my email/phone number.
It's on the page where I first log in. It says "All Accounts" (the Summary tab) and near the top right hand corner (not all the way in the corner of the page) there is a drop-down box that says "Contact your team Fidelity Private Client Group". When I click on it, it shows the 800 number. By the way, I'm using the "Beta view", but the regular view has basically the same thing.
is that the one with the url 'https://digital.fidelity.com/ftgw/digit ... io/summary' and it shows following sections -
Summary
Positions
Balances
Activity & Orders
Documents
Planning

I don't see a contact option or anything about private client. I will contact them and ask.
TdF fan
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Re: Fidelity as a one stop shop

Post by TdF fan »

fordp wrote: Mon May 22, 2023 8:59 pm
TdF fan wrote: Mon May 22, 2023 8:33 pm
fordp wrote: Mon May 22, 2023 8:27 pm
TdF fan wrote: Mon May 22, 2023 8:22 pm
fordp wrote: Mon May 22, 2023 6:50 pm Did Fidelity remove the 'personal advisor' assigned to an account? I used to see one, now I don't in my account. I haven't changed anything. I'm not sure if my account is downgraded ?

If I need to speak to someone there about transferring assets from another firm, whats the best way? just call the number or make an appointment with a local branch?
I noticed my "Personal Advisor" has been removed as of a couple of days ago. My account has not been downgraded, it still says Private Client. I wondered if it was because I never returned my advisor's calls nor emails. I'm not worried about it though, I'm actually kind of glad I don't have to see his picture every time I log in :-D

In any case, I normally start with the online chat for issues. I have to put "representative" in the chat box to get an actual person, but it works for me. Sometimes the chat representative directs me to call. I personally would call the number first before going to the local branch.
Thank you. Where do you see 'private client', in the Profile page or 'Account features' ? I'm not seeing anything, the profile page just shows options for my email/phone number.
It's on the page where I first log in. It says "All Accounts" (the Summary tab) and near the top right hand corner (not all the way in the corner of the page) there is a drop-down box that says "Contact your team Fidelity Private Client Group". When I click on it, it shows the 800 number. By the way, I'm using the "Beta view", but the regular view has basically the same thing.
is that the one with the url 'https://digital.fidelity.com/ftgw/digit ... io/summary' and it shows following sections -
Summary
Positions
Balances
Activity & Orders
Documents
Planning

I don't see a contact option or anything about private client. I will contact them and ask.
Yes, that's the page. For me, to the right of the words "All accounts", directly across the page, it says "Fidelity Private Client Group".
vaylie
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Re: Fidelity as a one stop shop

Post by vaylie »

I just saw someone posted in the debt ceiling thread that they were able to change the FDIC core position of the CMA to select the bank that they want. I don't see anything in my account that lets me do that though. I don't even know which bank my money is with. I just have access to the list of banks.

Anyone know how to change the core position?
arf30
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Re: Fidelity as a one stop shop

Post by arf30 »

Anyone know what the difference is (if any) between the FCASH brokerage core position option and the CMA FDIC core position? They seem to pay the same interest rate.

edit: Looks like no FDIC coverage on FCASH
Last edited by arf30 on Tue May 23, 2023 4:12 pm, edited 1 time in total.
3000
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Re: Fidelity as a one stop shop

Post by 3000 »

vaylie wrote: Tue May 23, 2023 3:59 pm I just saw someone posted in the debt ceiling thread that they were able to change the FDIC core position of the CMA to select the bank that they want. I don't see anything in my account that lets me do that though. I don't even know which bank my money is with. I just have access to the list of banks.

Anyone know how to change the core position?
This is what the CMA info page says about programs banks. The bold section of item 3 is probably what they did.
You are responsible for monitoring the total amount of your assets on deposit with a Program Bank (including amounts in other accounts at that bank held in the same right and legal capacity) in order to determine the extent of FDIC deposit insurance coverage available to you on those deposits, including your Cash Balance held at the Program Bank.

1.You may only access your Cash Balance through your Fidelity® Cash Management Account. You cannot access or withdraw the Cash Balance by directly contacting the Program Bank.

2.The Cash Balance in the FDIC-Insured Deposit Sweep is swept to an FDIC-Insured interest bearing account at one or more program banks and, under certain circumstances, a money market mutual fund (the "Money Market Overflow"). The deposit at the Program Bank is not covered by SIPC. The deposit is eligible for FDIC insurance subject to FDIC insurance coverage limits. All assets of the account holder at the depository institution will generally be counted toward the aggregate limit. For more information about FDIC insurance coverage, please visit the FDIC Web site at www.FDIC.gov or call 877-ASK-FDIC. As referenced in the Fidelity® Cash Management Account FDIC-Insured Deposit Sweep Program Disclosures, customers are responsible for monitoring their total assets at a Program Bank to determine the extent of available FDIC insurance. All FDIC insurance coverage is in accordance with FDIC rules.

3.This is the current list of Program Banks to which Fidelity may elect to sweep your Cash Balance. In the event that your total assets at a Program Bank (including assets that you hold with the bank outside of the FDIC-Insured Deposit Sweep Program) exceed the FDIC insurance limits, you may contact Fidelity to change to a different Program Bank List if one is available. Fidelity maintains the right to change the Program Bank List that is assigned to your account at any time. If a change is made to the Program Bank List assigned to your account, Fidelity will notify you in writing of that change through your statement or confirmation notice. Although Fidelity cannot guarantee the financial health or stability of the Program Banks, it has made diligent efforts to select banks that are financially sound, have a good business reputation, and are in good standing with the FDIC and other bank regulatory bodies. The parent company of Fidelity has a minority percentage, non-controlling interest in Leader Bank, N.A.
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GeraniumLover
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Re: Fidelity as a one stop shop

Post by GeraniumLover »

3000 wrote: Tue May 23, 2023 4:11 pm
vaylie wrote: Tue May 23, 2023 3:59 pm I just saw someone posted in the debt ceiling thread that they were able to change the FDIC core position of the CMA to select the bank that they want. I don't see anything in my account that lets me do that though. I don't even know which bank my money is with. I just have access to the list of banks.

Anyone know how to change the core position?
This is what the CMA info page says about programs banks. The bold section of item 3 is probably what they did.
You are responsible for monitoring the total amount of your assets on deposit with a Program Bank (including amounts in other accounts at that bank held in the same right and legal capacity) in order to determine the extent of FDIC deposit insurance coverage available to you on those deposits, including your Cash Balance held at the Program Bank.

1.You may only access your Cash Balance through your Fidelity® Cash Management Account. You cannot access or withdraw the Cash Balance by directly contacting the Program Bank.

2.The Cash Balance in the FDIC-Insured Deposit Sweep is swept to an FDIC-Insured interest bearing account at one or more program banks and, under certain circumstances, a money market mutual fund (the "Money Market Overflow"). The deposit at the Program Bank is not covered by SIPC. The deposit is eligible for FDIC insurance subject to FDIC insurance coverage limits. All assets of the account holder at the depository institution will generally be counted toward the aggregate limit. For more information about FDIC insurance coverage, please visit the FDIC Web site at www.FDIC.gov or call 877-ASK-FDIC. As referenced in the Fidelity® Cash Management Account FDIC-Insured Deposit Sweep Program Disclosures, customers are responsible for monitoring their total assets at a Program Bank to determine the extent of available FDIC insurance. All FDIC insurance coverage is in accordance with FDIC rules.

3.This is the current list of Program Banks to which Fidelity may elect to sweep your Cash Balance. In the event that your total assets at a Program Bank (including assets that you hold with the bank outside of the FDIC-Insured Deposit Sweep Program) exceed the FDIC insurance limits, you may contact Fidelity to change to a different Program Bank List if one is available. Fidelity maintains the right to change the Program Bank List that is assigned to your account at any time. If a change is made to the Program Bank List assigned to your account, Fidelity will notify you in writing of that change through your statement or confirmation notice. Although Fidelity cannot guarantee the financial health or stability of the Program Banks, it has made diligent efforts to select banks that are financially sound, have a good business reputation, and are in good standing with the FDIC and other bank regulatory bodies. The parent company of Fidelity has a minority percentage, non-controlling interest in Leader Bank, N.A.
You can also call them to opt out of any of the banks in your Program Bank List. I did this recently.
NYCaviator
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Re: Fidelity as a one stop shop

Post by NYCaviator »

GeraniumLover wrote: Wed May 24, 2023 8:28 am You can also call them to opt out of any of the banks in your Program Bank List. I did this recently.
Was it easy to do? I bank with one of their program banks and was concerned about FDIC limit issues between the CMA and our other accounts. I just want to make sure we aren’t inadvertently going over the limits.

And has anyone noticed a difference in hold times, etc. between the different program banks? Really I plan to keep $0 in the CMA and just use it for intl. withdraws now that we’ve moved away from Schwab. Day to day I still use our regional bank and keep our E-fund in the brokerage at Fidelity.
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GeraniumLover
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Re: Fidelity as a one stop shop

Post by GeraniumLover »

NYCaviator wrote: Wed May 24, 2023 3:29 pm
GeraniumLover wrote: Wed May 24, 2023 8:28 am You can also call them to opt out of any of the banks in your Program Bank List. I did this recently.
Was it easy to do? I bank with one of their program banks and was concerned about FDIC limit issues between the CMA and our other accounts. I just want to make sure we aren’t inadvertently going over the limits.
Yes, it took about 5 minutes. Tell them you want to opt out of some of the banks on your bank list for your FCASH sweep balance in your CMA.
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JoMoney
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Re: Fidelity as a one stop shop

Post by JoMoney »

GeraniumLover wrote: Wed May 24, 2023 4:34 pm
NYCaviator wrote: Wed May 24, 2023 3:29 pm
GeraniumLover wrote: Wed May 24, 2023 8:28 am You can also call them to opt out of any of the banks in your Program Bank List. I did this recently.
Was it easy to do? I bank with one of their program banks and was concerned about FDIC limit issues between the CMA and our other accounts. I just want to make sure we aren’t inadvertently going over the limits.
Yes, it took about 5 minutes. Tell them you want to opt out of some of the banks on your bank list for your FCASH sweep balance in your CMA.
"FCASH" is not the sweep account for the CMA. The core sweep for the CMA is a FDIC Bank Sweep, " FCASH " is a sweep option for other types of brokerage accounts and is NOT a FDIC Bank deposit, nor a money market mutual fund. It's a "free credit balance" on deposit with Fidelity, it pays similar interest as the FDIC bank sweep program, but it is not a FDIC bank deposit or part of the same bank sweep program that the CMA uses for the core deposit.
"To achieve satisfactory investment results is easier than most people realize; to achieve superior results is harder than it looks." - Benjamin Graham
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GeraniumLover
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Re: Fidelity as a one stop shop

Post by GeraniumLover »

JoMoney wrote: Wed May 24, 2023 6:54 pm
"FCASH" is not the sweep account for the CMA. The core sweep for the CMA is a FDIC Bank Sweep, " FCASH " is a sweep option for other types of brokerage accounts and is NOT a FDIC Bank deposit, nor a money market mutual fund. It's a "free credit balance" on deposit with Fidelity, it pays similar interest as the FDIC bank sweep program, but it is not a FDIC bank deposit or part of the same bank sweep program that the CMA uses for the core deposit.
Oops - thanks for the correction! I think the rep I spoke with inadvertently used that term.
Last edited by GeraniumLover on Thu May 25, 2023 9:12 am, edited 1 time in total.
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anon_investor
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Re: Fidelity as a one stop shop

Post by anon_investor »

JoMoney wrote: Wed May 24, 2023 6:54 pm
GeraniumLover wrote: Wed May 24, 2023 4:34 pm
NYCaviator wrote: Wed May 24, 2023 3:29 pm
GeraniumLover wrote: Wed May 24, 2023 8:28 am You can also call them to opt out of any of the banks in your Program Bank List. I did this recently.
Was it easy to do? I bank with one of their program banks and was concerned about FDIC limit issues between the CMA and our other accounts. I just want to make sure we aren’t inadvertently going over the limits.
Yes, it took about 5 minutes. Tell them you want to opt out of some of the banks on your bank list for your FCASH sweep balance in your CMA.
"FCASH" is not the sweep account for the CMA. The core sweep for the CMA is a FDIC Bank Sweep, " FCASH " is a sweep option for other types of brokerage accounts and is NOT a FDIC Bank deposit, nor a money market mutual fund. It's a "free credit balance" on deposit with Fidelity, it pays similar interest as the FDIC bank sweep program, but it is not a FDIC bank deposit or part of the same bank sweep program that the CMA uses for the core deposit.
I have never used FCASH, is that basically just cash that would be covered by SPIC insurance?
lostcoast2023
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Re: Fidelity as a one stop shop

Post by lostcoast2023 »

Any recent experience using the self funded overdraft feature for payments sent through billpay? For example, if I maintain a $1 balance in my CMA, will a $500 payment liquidate and transfer $499 worth of SPAXX, and move it to the CMA, the same way it works for ATM withdrawals?

I know I could setup billpay on the brokerage side, but would prefer not to.
stilllurking
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Re: Fidelity as a one stop shop

Post by stilllurking »

I never have any idle cash sitting in anything but SPRXX. All of my bill pays and ATM withdrawals auto liquidate SPRXX the next day to cover the debits.
will86
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Re: Fidelity as a one stop shop

Post by will86 »

lostcoast2023 wrote: Thu May 25, 2023 5:05 pm Any recent experience using the self funded overdraft feature for payments sent through billpay? For example, if I maintain a $1 balance in my CMA, will a $500 payment liquidate and transfer $499 worth of SPAXX, and move it to the CMA, the same way it works for ATM withdrawals?

I know I could setup billpay on the brokerage side, but would prefer not to.
wouldn't it work to have SPAXX or FDRXX in the cma account and do without the overdraft feature?
lostcoast2023
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Re: Fidelity as a one stop shop

Post by lostcoast2023 »

will86 wrote: Thu May 25, 2023 5:27 pm
lostcoast2023 wrote: Thu May 25, 2023 5:05 pm Any recent experience using the self funded overdraft feature for payments sent through billpay? For example, if I maintain a $1 balance in my CMA, will a $500 payment liquidate and transfer $499 worth of SPAXX, and move it to the CMA, the same way it works for ATM withdrawals?

I know I could setup billpay on the brokerage side, but would prefer not to.
wouldn't it work to have SPAXX or FDRXX in the cma account and do without the overdraft feature?
Yes, I may end up doing that for regular spending. But I have been trying to avoid manually buying any MM funds, as that is the main advantage of Fidelity over Schwab for me.
need403bhelp
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Re: Fidelity as a one stop shop

Post by need403bhelp »

lostcoast2023 wrote: Thu May 25, 2023 5:05 pm Any recent experience using the self funded overdraft feature for payments sent through billpay? For example, if I maintain a $1 balance in my CMA, will a $500 payment liquidate and transfer $499 worth of SPAXX, and move it to the CMA, the same way it works for ATM withdrawals?

I know I could setup billpay on the brokerage side, but would prefer not to.
Yes works like this for me, except use the government money market core option (forget ticket sorry) in brokerage account. Keep $0 in CMA mostly, bill pay works fine
vaylie
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Re: Fidelity as a one stop shop

Post by vaylie »

Has anyone set up automatic bill pay for BoA credit cards on their Fidelity CMA from the BoA side? I know there's something tricky about the first bill, and I can't find the old posts that talked about the details.
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fetch5482
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Re: Fidelity as a one stop shop

Post by fetch5482 »

vaylie wrote: Thu May 25, 2023 6:49 pm Has anyone set up automatic bill pay for BoA credit cards on their Fidelity CMA from the BoA side? I know there's something tricky about the first bill, and I can't find the old posts that talked about the details.
I have and I didn't run into anything unexpected.
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vaylie
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Re: Fidelity as a one stop shop

Post by vaylie »

fetch5482 wrote: Thu May 25, 2023 6:57 pm
vaylie wrote: Thu May 25, 2023 6:49 pm Has anyone set up automatic bill pay for BoA credit cards on their Fidelity CMA from the BoA side? I know there's something tricky about the first bill, and I can't find the old posts that talked about the details.
I have and I didn't run into anything unexpected.
So you didn't have to manually pay the first bill? Just set it up from the BoA side and everything worked?
Eno Deb
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Re: Fidelity as a one stop shop

Post by Eno Deb »

vaylie wrote: Thu May 25, 2023 6:58 pm
fetch5482 wrote: Thu May 25, 2023 6:57 pm
vaylie wrote: Thu May 25, 2023 6:49 pm Has anyone set up automatic bill pay for BoA credit cards on their Fidelity CMA from the BoA side? I know there's something tricky about the first bill, and I can't find the old posts that talked about the details.
I have and I didn't run into anything unexpected.
So you didn't have to manually pay the first bill? Just set it up from the BoA side and everything worked?
I got a new credit card form BoA last year and it was definitely possible to set up autopay right away. I don't remember the exact clicks, but basically you first have to enable eBill for the card, and then there is an option to set up autopay. To pay from a Fidelity (or other external) account, you also need to set up a "pay from" account (any BoA checking accounts are automatically available as payment source).
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Re: Fidelity as a one stop shop

Post by spammagnet »

Eno Deb wrote: Thu May 25, 2023 8:03 pm... To pay from a Fidelity (or other external) account, you also need to set up a "pay from" account (any BoA checking accounts are automatically available as payment source).
The default display when adding a payment account is existing BofA accounts. You have to select the "Other Pay From Accounts" tab to add an external account.
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fetch5482
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Re: Fidelity as a one stop shop

Post by fetch5482 »

vaylie wrote: Thu May 25, 2023 6:58 pm
fetch5482 wrote: Thu May 25, 2023 6:57 pm
vaylie wrote: Thu May 25, 2023 6:49 pm Has anyone set up automatic bill pay for BoA credit cards on their Fidelity CMA from the BoA side? I know there's something tricky about the first bill, and I can't find the old posts that talked about the details.
I have and I didn't run into anything unexpected.
So you didn't have to manually pay the first bill? Just set it up from the BoA side and everything worked?
Yes, it worked from the first bill. I don't recall the exact steps either, but I don't recall it being particularly painful either.
(AGE minus 23%) Bonds | 5% REITs | Balance 80% US (75/25 TSM/SCV) + 20% International (80/20 Developed/Emerging)
spammagnet
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Re: Fidelity as a one stop shop

Post by spammagnet »

vaylie wrote: Thu May 25, 2023 6:58 pm... So you didn't have to manually pay the first bill? Just set it up from the BoA side and everything worked?
AFAIK, it works for new ebills received after adding e-bills and auto-pay to the credit card account. Past statements are not paid automatically even if the due date is in the future, but you can add a manual bill payment for that date.
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burritoLover
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Re: Fidelity as a one stop shop

Post by burritoLover »

Can you auto-invest into non-Fidelity ETFs? If so, what are the limitations? For example, if I wanted to auto-invest into some Avantis ETFs.
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JoMoney
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Re: Fidelity as a one stop shop

Post by JoMoney »

burritoLover wrote: Sat May 27, 2023 10:16 am Can you auto-invest into non-Fidelity ETFs? If so, what are the limitations? For example, if I wanted to auto-invest into some Avantis ETFs.
I'm pretty sure scheduled "automatic investment" is limited to traditional mutual funds currently.
Fidelity does offer something called "FidFolios"
https://www.fidelity.com/direct-indexin ... g/overview
Which are 'baskets' of individual stocks or ETFs you can create and invest in the entire basket at whatever percentages you outline.
There are monthly subscription fees associated to to using FidFolio baskets.
According to some 'official' Fidelity responses on their Reddit page, they are working on/planning on releasing automatic/scheduled investing into FidFolio baskets... but not available yet.
"To achieve satisfactory investment results is easier than most people realize; to achieve superior results is harder than it looks." - Benjamin Graham
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burritoLover
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Re: Fidelity as a one stop shop

Post by burritoLover »

JoMoney wrote: Sat May 27, 2023 10:35 am
burritoLover wrote: Sat May 27, 2023 10:16 am Can you auto-invest into non-Fidelity ETFs? If so, what are the limitations? For example, if I wanted to auto-invest into some Avantis ETFs.
I'm pretty sure scheduled "automatic investment" is limited to traditional mutual funds currently.
Fidelity does offer something called "FidFolios"
https://www.fidelity.com/direct-indexin ... g/overview
Which are 'baskets' of individual stocks or ETFs you can create and invest in the entire basket at whatever percentages you outline.
There are monthly subscription fees associated to to using FidFolio baskets.
According to some 'official' Fidelity responses on their Reddit page, they are working on/planning on releasing automatic/scheduled investing into FidFolio baskets... but not available yet.
Great - thanks for the info as always. If I decide to manually invest a fixed amount every 2 weeks into existing ETFs - is the workflow from a phone do-able and quick? Or am I jumping through a bunch of hoops to do it?
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Re: Fidelity as a one stop shop

Post by muffins14 »

burritoLover wrote: Sat May 27, 2023 10:39 am
JoMoney wrote: Sat May 27, 2023 10:35 am
burritoLover wrote: Sat May 27, 2023 10:16 am Can you auto-invest into non-Fidelity ETFs? If so, what are the limitations? For example, if I wanted to auto-invest into some Avantis ETFs.
I'm pretty sure scheduled "automatic investment" is limited to traditional mutual funds currently.
Fidelity does offer something called "FidFolios"
https://www.fidelity.com/direct-indexin ... g/overview
Which are 'baskets' of individual stocks or ETFs you can create and invest in the entire basket at whatever percentages you outline.
There are monthly subscription fees associated to to using FidFolio baskets.
According to some 'official' Fidelity responses on their Reddit page, they are working on/planning on releasing automatic/scheduled investing into FidFolio baskets... but not available yet.
Great - thanks for the info as always. If I decide to manually invest a fixed amount every 2 weeks into existing ETFs - is the workflow from a phone do-able and quick? Or am I jumping through a bunch of hoops to do it?
Do you mean that you just want to log in and make a transaction?

It’s very fast on the mobile app. Just a few clicks. Maybe 10-15 seconds.

Log in, click the transact button, type in the symbol, make sure you are looking at the right account, click “buy”, type in share number, click market or limit order, click preview, click confirm
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burritoLover
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Re: Fidelity as a one stop shop

Post by burritoLover »

muffins14 wrote: Sat May 27, 2023 10:49 am
burritoLover wrote: Sat May 27, 2023 10:39 am
JoMoney wrote: Sat May 27, 2023 10:35 am
burritoLover wrote: Sat May 27, 2023 10:16 am Can you auto-invest into non-Fidelity ETFs? If so, what are the limitations? For example, if I wanted to auto-invest into some Avantis ETFs.
I'm pretty sure scheduled "automatic investment" is limited to traditional mutual funds currently.
Fidelity does offer something called "FidFolios"
https://www.fidelity.com/direct-indexin ... g/overview
Which are 'baskets' of individual stocks or ETFs you can create and invest in the entire basket at whatever percentages you outline.
There are monthly subscription fees associated to to using FidFolio baskets.
According to some 'official' Fidelity responses on their Reddit page, they are working on/planning on releasing automatic/scheduled investing into FidFolio baskets... but not available yet.
Great - thanks for the info as always. If I decide to manually invest a fixed amount every 2 weeks into existing ETFs - is the workflow from a phone do-able and quick? Or am I jumping through a bunch of hoops to do it?
Do you mean that you just want to log in and make a transaction?

It’s very fast on the mobile app. Just a few clicks. Maybe 10-15 seconds.

Log in, click the transact button, type in the symbol, make sure you are looking at the right account, click “buy”, type in share number, click market or limit order, click preview, click confirm
Great - yeah, right now I'm at M1 Finance and I literally do nothing - it automatically pulls the money on pay day and buys ETFs in the percent designated (and dynamically rebalances). Problem is, TLH is not really ideal there. So, I'm trying to weigh the benefits of ease of M1 vs the finer control of tax lots at Fidelity.
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spencydub
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Re: Fidelity as a one stop shop

Post by spencydub »

burritoLover wrote: Sat May 27, 2023 10:53 am
muffins14 wrote: Sat May 27, 2023 10:49 am
burritoLover wrote: Sat May 27, 2023 10:39 am
JoMoney wrote: Sat May 27, 2023 10:35 am
burritoLover wrote: Sat May 27, 2023 10:16 am Can you auto-invest into non-Fidelity ETFs? If so, what are the limitations? For example, if I wanted to auto-invest into some Avantis ETFs.
I'm pretty sure scheduled "automatic investment" is limited to traditional mutual funds currently.
Fidelity does offer something called "FidFolios"
https://www.fidelity.com/direct-indexin ... g/overview
Which are 'baskets' of individual stocks or ETFs you can create and invest in the entire basket at whatever percentages you outline.
There are monthly subscription fees associated to to using FidFolio baskets.
According to some 'official' Fidelity responses on their Reddit page, they are working on/planning on releasing automatic/scheduled investing into FidFolio baskets... but not available yet.
Great - thanks for the info as always. If I decide to manually invest a fixed amount every 2 weeks into existing ETFs - is the workflow from a phone do-able and quick? Or am I jumping through a bunch of hoops to do it?
Do you mean that you just want to log in and make a transaction?

It’s very fast on the mobile app. Just a few clicks. Maybe 10-15 seconds.

Log in, click the transact button, type in the symbol, make sure you are looking at the right account, click “buy”, type in share number, click market or limit order, click preview, click confirm
Great - yeah, right now I'm at M1 Finance and I literally do nothing - it automatically pulls the money on pay day and buys ETFs in the percent designated (and dynamically rebalances). Problem is, TLH is not really ideal there. So, I'm trying to weigh the benefits of ease of M1 vs the finer control of tax lots at Fidelity.
Lol I’m in the exact same boat. 90% sure I’m about to transfer. Transfer fees waived right now as they move away from Apex. Fidelity would have reimbursed anyway, but maybe it’s a sign :shock: :shock:
alexbogle
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Re: Fidelity as a one stop shop

Post by alexbogle »

vaylie wrote: Thu May 25, 2023 6:49 pm Has anyone set up automatic bill pay for BoA credit cards on their Fidelity CMA from the BoA side? I know there's something tricky about the first bill, and I can't find the old posts that talked about the details.
I switched from paying my boa cc with boa checking to fidelity. Took one cycle. That is, after I switched, boa paid the following bill from boa checking one more time. After that, it started using the fidelity account.
"Learn every day, but especially from the experiences of others. It’s cheaper!” -- Jack Bogle
spammagnet
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Re: Fidelity as a one stop shop

Post by spammagnet »

alexbogle wrote: Sat May 27, 2023 3:33 pmI switched from paying my boa cc with boa checking to fidelity. Took one cycle. That is, after I switched, boa paid the following bill from boa checking one more time. After that, it started using the fidelity account.
If that bill had already been scheduled when you revised the bank, the scheduled bill is static. In addition to changing the bank on your autopay setup, you can edit that already-scheduled payment, if useful.
simpleisbest
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Re: Fidelity as a one stop shop

Post by simpleisbest »

I have been following the advice of keeping 100% of my cash in FDRXX. I see that cash in FDRXX still counts towards "Available". When I made withdrawals, FDRXX autosold after a couple days.

I'm seeing strange behavior now where for weeks in a row, my FDRXX balance has been consistently above my Available Cash, and there has been a persistent unsettled debit. I made a deposit less than the debit, which a day later went into Core cash, and today the Core cash got cancelled out by a fraction of the debit. But the remaining debit doesn't seem to be cancelling out any of FDRXX. It seems that my FDRXX position is stuck and Fidelity is letting me carrying an unsettled debit perpetually.

Is this true? I wonder how Fidelity computes my interest. Am I getting free interest on this unsettled debit? If so then instead of a 4.8% return I'm getting like a 6% return. I suppose I'll find out at the end of the month by comparing my interest received against my daily balance in FDRXX. Just very confusing accounting.
stilllurking
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Re: Fidelity as a one stop shop

Post by stilllurking »

Has anyone requested an increased daily ATM withdrawal limit? I requested one last week and they said it would be completed in a couple days but it’s passed that now. I will call if necessary but can be patient as I’m not traveling for another few weeks.

Second question. If there are joint CMA owners, each with their own debit card, is the daily ATM limit per card or for the whole account? I see it’s the exact same when I unlock each of the cards. Checking to see if anyone has a similar experience on these.
MrJedi
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Re: Fidelity as a one stop shop

Post by MrJedi »

simpleisbest wrote: Wed May 31, 2023 9:03 am I have been following the advice of keeping 100% of my cash in FDRXX. I see that cash in FDRXX still counts towards "Available". When I made withdrawals, FDRXX autosold after a couple days.

I'm seeing strange behavior now where for weeks in a row, my FDRXX balance has been consistently above my Available Cash, and there has been a persistent unsettled debit. I made a deposit less than the debit, which a day later went into Core cash, and today the Core cash got cancelled out by a fraction of the debit. But the remaining debit doesn't seem to be cancelling out any of FDRXX. It seems that my FDRXX position is stuck and Fidelity is letting me carrying an unsettled debit perpetually.

Is this true? I wonder how Fidelity computes my interest. Am I getting free interest on this unsettled debit? If so then instead of a 4.8% return I'm getting like a 6% return. I suppose I'll find out at the end of the month by comparing my interest received against my daily balance in FDRXX. Just very confusing accounting.
Do you have pending transactions like buying stocks, bonds, etc.?

The interest should be based on your daily balance within FDRXX.
midwest_bound
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Re: Fidelity as a one stop shop

Post by midwest_bound »

I love my Fidelity Visa, but it's annoying that their bonus offers always have arduous terms. I got this one this morning:

> Earn 20% more Reward Points (up to 2,000 Reward Points) on purchases¹ — worth up to $20 when redeemed as cash back² into an eligible Fidelity® account³ — after you spend $7,900.

I normally spend ~$2k a month on this card, so they want to see an extra $6k in spending for $20! Comparing this to my Amazon Visa that has a 2x bonus offer right now with no minimum spend requirements.
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