How Long Does It Take to Get a Check from Fidelity Investments? Your Comprehensive Guide
Have you ever found yourself in a situation where you need to access funds from your Fidelity Investments account, and a paper check seems like the most straightforward option? Perhaps you're closing an old account, taking a distribution from an IRA, or simply need cash for a specific purpose. It's a common query, and understanding the process and timelines involved can save you a lot of hassle.
Let's dive into the specifics of how long it generally takes to receive a check from Fidelity Investments, along with a detailed step-by-step guide on how to request one and what factors can influence the delivery time. Ready to get your funds? Let's start!
Step 1: Understanding Fidelity's Check Withdrawal Timelines
First things first, let's set your expectations. How long can you generally anticipate waiting for that check?
Standard Mail Delivery: Fidelity states that your check will typically arrive 5 to 7 business days after your request is received by Fidelity. This timeframe accounts for both processing the request and standard U.S. mail delivery.
It's crucial to remember that "business days" generally exclude weekends and holidays. So, if you request a check on a Friday, the 5-7 business days will start counting from the following Monday.
Step 2: Preparing for Your Check Request – The Essentials
Before you even think about requesting a check, it's wise to ensure everything is in order. Proper preparation can prevent delays.
Sub-heading: Verifying Your Account Information
Current Mailing Address: Double-check that Fidelity has your most current and accurate mailing address on file. If you've moved recently, update it before requesting a check. Be aware that if you've updated your mailing address within the past 15 business days, there might be a limitation on the maximum amount you can withdraw by check ($10,000 for online IRA withdrawals, for instance) as a fraud prevention measure.
Account Balance: Ensure you have sufficient funds in your core account or the specific mutual fund from which you intend to withdraw. If you plan to sell securities to generate the funds, ensure those transactions have settled before initiating the check request.
Account Type and Specific Rules: Different account types (e.g., brokerage, IRA, 401(k), 529 plan) might have specific withdrawal rules, forms, or tax implications. For example, IRA withdrawals may require specific forms (like an IRA Single Withdrawal Request Form for early or normal distributions, or a Fidelity IRA Personal Withdrawal Service Form for scheduled withdrawals) and might have tax withholding considerations.
Sub-heading: Considering Alternatives to a Paper Check
While a check is an option, it's often not the fastest. Fidelity offers quicker ways to access your money. Consider these before opting for a check:
Electronic Funds Transfer (EFT) to Your Bank: This is generally the fastest way to get cash into your external bank account. EFTs typically take 1 to 3 business days. This requires you to have linked your external bank account to your Fidelity account.
Bank Wire: For immediate access to funds (often same day), a bank wire is the fastest option. Fidelity typically doesn't charge for outgoing wires, though your receiving bank might. This is ideal for large sums where time is of the essence.
Transfer Between Fidelity Accounts: If you simply need to move money from one Fidelity account to another (e.g., from an IRA to a brokerage account), this usually happens within minutes.
Step 3: Initiating Your Check Request – Step-by-Step
Once you've confirmed your details and decided a check is the best route, here's how to proceed.
Sub-heading: Online Request via Fidelity.com (Most Common Method)
Log In to Your Fidelity Account: Go to Fidelity.com and log in securely using your username and password.
Navigate to "Transfers" or "Withdrawals": The exact navigation might vary slightly based on Fidelity's website updates, but typically you'll find options under "Accounts & Trade" or a direct "Transfers" or "Move Money" section.
Select "Withdraw Money": Look for an option that allows you to withdraw funds from your account.
Choose "Request a Check": Among the various withdrawal methods (EFT, wire, etc.), select the option for a paper check.
Specify Account and Amount: Select the Fidelity account from which you want to withdraw funds and enter the exact amount you wish to receive by check.
Confirm Mailing Address: The system will likely display your registered mailing address. Verify it carefully.
Review and Submit: Before finalizing, review all the details of your request: account, amount, and mailing address. Once you're certain everything is correct, submit your request. You should receive a confirmation message.
Sub-heading: Requesting by Phone
If you prefer to speak with a representative or have specific questions about your withdrawal, you can always call Fidelity's customer service line. Be prepared to provide your account information and verify your identity.
Sub-heading: Requesting by Mail (Less Common for Withdrawals)
While less common for receiving a check, some complex withdrawals or specific account types might require submitting a physical form. You can typically find these forms on the Fidelity website under "Forms & Applications" or by searching for the specific withdrawal type (e.g., "IRA Single Withdrawal Request Form PDF"). Fill out the form completely and mail it to the address provided on the form. This method will add significantly to your overall wait time.
Step 4: Understanding Processing and Delivery
Once you've submitted your request, the clock starts ticking.
Sub-heading: Fidelity's Internal Processing
Request Received: Fidelity's system registers your request.
Funds Allocation: The requested amount is moved from your investment position (if applicable) to your account's core cash position.
Check Issuance: A physical check is prepared and printed.
Hand-off to Mail Carrier: The check is then handed over to the U.S. Postal Service (or other relevant mail carrier).
Sub-heading: Mail Delivery Timelines
As mentioned, standard U.S. mail delivery for a check from Fidelity typically takes 5 to 7 business days after the request is received. Factors that can influence this include:
Geographic Distance: While unlikely to be a major factor within the U.S., extremely remote locations might see slightly longer delivery times.
Postal Service Efficiency: Mail delivery can sometimes be subject to unforeseen delays (e.g., severe weather, increased mail volume during holidays).
Weekends and Holidays: Remember, these are not business days, so they will extend the overall timeline. If a holiday falls within your 5-7 business day window, add an extra day for each holiday.
Step 5: Tracking Your Request and What to Do If Delays Occur
Patience is key, but it's also important to know when to follow up.
Sub-heading: Checking Your Request Status
Online Activity & Orders: After submitting your withdrawal request online, you can usually track its status in the "Activity & Orders" section of your Fidelity account. This will show you if the request has been processed and when the check was issued.
Contact Customer Service: If you're concerned about the status of your check and it has been longer than the expected timeframe, don't hesitate to contact Fidelity's customer service. Have your account number and the date of your request ready.
Sub-heading: Addressing Delays
If your check hasn't arrived within the 7 business day window, or a reasonable extension accounting for any holidays, it's time to act:
Check Your Mail Thoroughly: Sometimes checks get misplaced or mixed in with other mail.
Verify Your Address Again: Confirm with Fidelity that the check was sent to the correct address.
Contact Fidelity: Explain the situation. They can investigate the issue, confirm if the check was sent, and potentially initiate a stop payment and reissue a new check if the original is deemed lost. Be aware that stopping payment on a check and issuing a new one might incur additional processing time.
Step 6: Receiving and Depositing Your Check
Once the check arrives, the final step is getting it into your bank account.
Deposit Methods: You can deposit the check at your local bank branch, through your bank's mobile deposit app, or via an ATM.
Bank Hold Times: Remember that even after you receive the check from Fidelity, your own bank might place a hold on the funds. This is a standard banking practice to ensure the check clears. Hold times typically range from 1 to 5 business days, depending on the check amount, your banking relationship, and your bank's policies.
Frequently Asked Questions (FAQs)
Here are 10 common questions related to getting a check from Fidelity Investments, with quick answers:
How to get a check from Fidelity Investments online? Log in to Fidelity.com, navigate to "Transfers" or "Withdrawals," select "Request a Check," specify the account and amount, confirm the mailing address, and submit.
How to expedite getting a check from Fidelity Investments? Generally, Fidelity does not offer expedited check delivery. For faster access to funds, consider an Electronic Funds Transfer (1-3 business days) or a Bank Wire (same day).
How to find the status of a check requested from Fidelity? You can usually check the status in the "Activity & Orders" section of your Fidelity account online.
How to change the mailing address for a Fidelity check? Update your mailing address on file with Fidelity before requesting the check. Be aware of potential withdrawal limitations if the address was recently changed.
How to withdraw from an IRA at Fidelity by check? You can often do this online through the withdrawal section, but for specific IRA distributions (e.g., early or required minimum distributions), Fidelity may have specific forms you need to complete.
How to avoid delays when requesting a check from Fidelity? Ensure your mailing address is accurate and up-to-date, verify sufficient funds, and be aware of any account-specific rules or forms required.
How to receive money faster than a check from Fidelity? Use Electronic Funds Transfer (EFT) for transfers to your linked bank account (1-3 business days) or a bank wire for same-day access.
How to get a check for a large amount from Fidelity? For amounts over certain online limits (e.g., $100,000 for online wire/check requests), you may need to call Fidelity customer service to arrange the withdrawal.
How to cancel a check request with Fidelity? Contact Fidelity customer service as soon as possible. If the check hasn't been processed or mailed yet, they might be able to cancel the request.
How to deal with a lost or undelivered check from Fidelity? After the standard delivery timeframe, contact Fidelity customer service. They can investigate, stop payment on the original check, and issue a new one.
