Unlock Your Investments: A Comprehensive Guide to Depositing a Check with Fidelity Investments
Ever found yourself holding a check, perhaps a tax refund, a bonus, or even proceeds from selling an asset, and wondered, "How do I get this into my Fidelity Investments account?" You're not alone! While digital transactions are increasingly common, checks still play a significant role in many financial lives. This lengthy guide will walk you through every step of the process, ensuring your funds are safely and efficiently deposited into your Fidelity account. Let's get started!
Step 1: Are you ready to boost your investments?
Before we dive into the nitty-gritty, let's make sure you're properly prepared. This initial check will save you time and hassle down the road.
Sub-heading: Gather Your Essentials
The Check Itself: Obvious, right? But seriously, ensure the check is properly made out to you or your Fidelity account name.
Your Fidelity Account Information: This includes your Fidelity account number. Having this handy is crucial for accurate processing. You can usually find it on your statements or by logging into your Fidelity account online.
A Smartphone or Scanner (for Mobile/Online Deposit): If you plan to use the digital methods, you'll need a device capable of taking clear photos or scanning documents.
An Envelope and Stamp (for Mail Deposit): If you prefer the traditional route, be sure to have these readily available.
A Pen: For endorsing your check, of course!
Step 2: Choose Your Deposit Method: The Power of Choice
Fidelity Investments offers several convenient ways to deposit a check. Your best option will depend on your preference for speed, convenience, and the amount you're depositing. Let's explore each method in detail.
Sub-heading: Option A: The Lightning-Fast Mobile Deposit (Recommended for most)
This is by far the easiest and fastest way to deposit a check with Fidelity. You can do it right from your smartphone or tablet!
2.1. Download the Fidelity Investments App: If you don't already have it, search for "Fidelity Investments" in your device's app store (Apple App Store or Google Play Store) and download it.
2.2. Log In to Your Account: Open the app and log in using your Fidelity username and password. If you have multi-factor authentication enabled (which you should!), complete that step.
2.3. Navigate to Deposit Checks: Once logged in, look for a "Transact" or "Move Money" section, and then select "Deposit Checks." You might need to agree to some terms of use the first time you use this feature.
2.4. Select the Account: Choose the specific Fidelity account where you want the funds to be deposited. Make sure it's the correct one!
2.5. Enter the Amount: Carefully enter the exact dollar amount of the check. Double-check this to prevent errors.
2.6. Endorse Your Check: This is a critical step. On the back of the check, sign your name exactly as it appears on the "Payee" line of the check. Crucially, underneath your signature, write "For Mobile Deposit Only Fidelity Investments" or "For Deposit Only Fidelity Investments." This specific endorsement is often required for mobile deposits and helps prevent fraud.
2.7. Snap Photos of Your Check:
Front: Lay the check on a dark, contrasting background to ensure good visibility. Make sure all four corners are within the frame and the image is clear and well-lit. Avoid shadows.
Back: Flip the check over and take a clear photo of the back, again ensuring good lighting and all corners are visible, with your endorsement clearly legible.
2.8. Review and Submit: The app will likely show you a preview of the images and the details you've entered. Review everything carefully one last time. If it all looks good, tap "Submit." You'll usually receive a confirmation message once the deposit is successful.
Sub-heading: Option B: The Reliable Mail-In Deposit
For those who prefer a physical paper trail, or if your check amount exceeds the mobile deposit limit, mailing your check is a secure option.
2.1. Endorse Your Check: On the back of the check, sign your name. Below your signature, write your Fidelity account number. This is essential for Fidelity to correctly identify your account.
2.2. Fill Out a Deposit Slip (Optional but Recommended): While not always strictly required, using a Fidelity deposit slip can help ensure accurate processing. You can often print a generic deposit slip from the Fidelity website or sometimes request pre-printed ones. On the slip, fill in your account number and the deposit amount.
2.3. Make Check Payable To: Ensure your check is made out correctly.
For Brokerage, Cash Management, and 529 accounts: "Fidelity Brokerage Services LLC"
For Mutual Fund accounts: The specific Fidelity fund name (e.g., "Fidelity Government Cash Reserves")
For Retirement accounts (all types): "Fidelity Investments"
For Annuities: "Fidelity Investments Life Insurance Company" (New York residents: "Empire Fidelity Investments")
For Health Savings Accounts (HSAs): "Fidelity Management Trust Company" (or "FMTC"), "FBO [your name]"
2.4. Prepare Your Envelope: Place the endorsed check (and deposit slip, if using) securely in an envelope.
2.5. Address the Envelope Correctly: This is critical to ensure your check reaches the right department at Fidelity. Addresses vary by account type and mailing speed (regular vs. overnight).
For Brokerage, 529, and Mutual Fund accounts (U.S. Mail): Fidelity Investments PO Box 770001 Cincinnati, OH 45277-0003
For Brokerage and Mutual Fund accounts (including HSAs) (Overnight/Certified Mail): Fidelity Investments 100 Crosby Parkway, KC1H Covington, KY 41015
For other account types (Retirement, Annuities, HSAs etc.), please refer to the Fidelity website or a deposit slip for the exact mailing address. It's always best to verify the current address on Fidelity's official website to avoid delays.
2.6. Send It Off: Apply sufficient postage and mail your check. It's often a good idea to send it via a trackable method if it's a significant amount.
Sub-heading: Option C: In-Person Deposit at a Fidelity Investor Center
If you prefer face-to-face interaction or have immediate concerns, visiting a Fidelity Investor Center is an option.
2.1. Locate an Investor Center: Use the "Find a Fidelity Investor Center" tool on the Fidelity website to find the nearest location.
2.2. Endorse Your Check: Sign the back of your check. You might not need to write "For Deposit Only" as explicitly as with mobile, but having your account number handy is always a good idea.
2.3. Bring Your ID: For security purposes, be prepared to show a valid government-issued ID.
2.4. Speak with a Representative: A Fidelity representative will assist you with depositing your check and answer any questions you may have.
Step 3: Track Your Deposit: Peace of Mind
Once you've initiated your deposit, it's natural to want to know its status.
Sub-heading: Monitoring Your Mobile/Online Deposit
3.1. Check the Fidelity App/Website: After a mobile deposit, the app often provides immediate confirmation. You can typically see the pending deposit in your account activity or history within the app or on the Fidelity website.
3.2. Email Confirmations: Fidelity may send you an email confirmation once your mobile deposit is received and processed.
3.3. Check Your Account Balance: The funds will appear in your account once they have cleared. This usually takes 1-3 business days for mobile deposits, though some funds may be available sooner for trading.
Sub-heading: Monitoring Your Mailed Deposit
3.1. Allow for Mail Delivery Time: Remember to factor in the time it takes for your check to reach Fidelity via mail (typically 5 business days for U.S. mail).
3.2. Check Your Account Activity Online: Once Fidelity receives and processes your check, it will appear in your account's transaction history on the Fidelity website or app.
3.3. Look for Clearing: While the deposit might show up as "pending," it will become "available" once the funds have cleared. This generally takes a few business days after Fidelity receives the check.
Step 4: Understanding Deposit Availability and Holds
It's important to understand that even after a check is deposited, the funds may not be immediately available for withdrawal or certain transactions.
Sub-heading: Factors Affecting Availability
Processing Time: Fidelity needs time to process the check and for the funds to clear from the issuing bank.
Deposit Method: Mobile deposits are generally faster than mailed checks.
Check Type: Personal checks may have longer hold times than cashier's checks or U.S. Treasury checks.
Deposit Amount: Larger deposits may be subject to longer holds.
Account History: Your account's history with Fidelity can also influence hold times.
Sub-heading: When Funds Are Typically Available
Mobile Deposits: Generally, deposits submitted on a business day prior to 4:00 p.m. ET and determined to be in good order will be posted that day. Funds are often available for trading the same day, but full availability for withdrawal can take 1-3 business days.
Mailed Deposits: Allow for mail delivery time, plus several business days for processing and clearing.
Fidelity's Policy: Fidelity typically makes funds from electronic direct deposits available on the day they receive the deposit. For cash and check deposits, funds are generally available by the first business day after the day of deposit, though some checks may have longer holds. The first $225 of a deposit is often available by the first business day.
Step 5: What to Do After Deposit: Proper Check Disposal
Once your check has successfully cleared and the funds are available in your Fidelity account, it's crucial to dispose of the physical check properly to protect your financial information.
Sub-heading: Securing Your Information
5.1. Mark the Check "VOID" or "Electronically Deposited": Write "VOID" or "Electronically Deposited" clearly across the front of the check. This prevents accidental re-deposit or misuse.
5.2. Shred the Check: Do not simply throw it away! Shredding the check (preferably with a cross-cut shredder) is the most secure way to dispose of it, protecting your bank account number, routing number, and signature from potential identity theft.
5.3. Retain for a Short Period (Optional): Some people prefer to keep the voided check for a few days or weeks until they are absolutely certain the deposit has fully cleared and settled in their account. This is a personal preference.
By following these steps, you can confidently deposit checks into your Fidelity Investments account, whether you prefer the speed of mobile deposit or the traditional reliability of mail.
Frequently Asked Questions (FAQs)
How to find my Fidelity account number for a check deposit?
You can find your Fidelity account number on your account statements, by logging into your Fidelity.com account and viewing your Portfolio Summary, or within the Fidelity Investments mobile app under your account details.
How to endorse a check for mobile deposit to Fidelity?
Sign your name on the back of the check, and then, below your signature, write "For Mobile Deposit Only Fidelity Investments" or "For Deposit Only Fidelity Investments."
How to find the correct mailing address for Fidelity check deposits?
The correct mailing address depends on your account type (e.g., brokerage, retirement, annuity) and whether you're using regular or overnight mail. Always refer to the "Deposit a Check by Mail" section on the Fidelity Investments website or a Fidelity deposit slip for the most current and accurate address.
How to check the status of a Fidelity mobile check deposit?
You can check the status within the Fidelity Investments mobile app under your account activity or history. You may also receive email confirmations once the deposit is received and processed.
How to deposit a third-party check to Fidelity?
Fidelity generally does not accept third-party checks (checks made out to someone else and endorsed over to you). The check must be made payable to you or the Fidelity account owner(s).
How to deposit a check if it's in a foreign currency or drawn on a foreign bank?
Fidelity typically does not accept checks in foreign currency or drawn on a foreign bank through their standard deposit methods. You may need to convert the funds to USD through a different banking institution first.
How to deposit a large check with Fidelity? Are there limits?
Mobile check deposit typically has daily and per-item limits. For larger checks exceeding these limits, you will generally need to mail the check or deposit it in person at a Fidelity Investor Center. Check Fidelity's mobile deposit terms for current limits.
How to get a Fidelity deposit slip?
You can usually download and print a generic deposit slip from the "Forms" or "Move Money" section of the Fidelity Investments website, or you can request pre-printed deposit slips from Fidelity customer service.
How to ensure a mobile check deposit is clear and readable?
Place the check on a dark, contrasting, flat surface. Ensure good, even lighting without shadows. Take the photo directly overhead, making sure all four corners of the check are visible and in focus. Avoid glare.
How to contact Fidelity customer service for check deposit questions?
You can contact Fidelity customer service by calling their general support line at 800-343-3548. They are available 24/7. You can also use their online chat or virtual assistant for assistance.
