Tired of those automatic investment contributions on your Fidelity app? Maybe your financial situation has changed, you're rebalancing your portfolio, or you simply want to take a break. Whatever the reason, stopping recurring investments on the Fidelity app is a straightforward process, and we're here to guide you through it step-by-step.
Let's get started, shall we? Don't worry, it's easier than you might think!
Navigating the Fidelity App to Stop Recurring Investments
The Fidelity app is designed to be user-friendly, but sometimes finding specific features can be a bit tricky. We'll break it down so you can confidently manage your automatic contributions.
Step 1: Launch the Fidelity App and Log In Securely
First things first, you need to open the Fidelity app on your mobile device.
Find the App: Look for the Fidelity Investments app icon on your smartphone or tablet. It's usually a dark blue or black icon with the Fidelity logo.
Log In: Once you've opened the app, you'll be prompted to log in. This typically involves entering your username and password. If you have two-factor authentication enabled (which you absolutely should for security!), you'll need to complete that step as well, perhaps by entering a code sent to your phone or using a biometric scan.
Pro-Tip: Make sure you have a stable internet connection before you begin to avoid any interruptions.
Step 2: Locate the "Transact" or "Transfers" Section
Once you're logged in, you'll see your portfolio overview. The key to managing recurring investments lies in the section related to money movement.
The "Transact" Button: Many users will find a prominent "Transact" button at the bottom of the screen. This is often represented by a green circular icon or a button labeled "Transact". This is your primary gateway.
Alternatively, "Accounts & Trade": If you don't immediately see "Transact," navigate to the "Accounts & Trade" section, which is typically found in the main navigation menu. From there, you'll often find options related to "Transfers" or "Payments & Transfers."
Step 3: Access "Automate" or "Manage Recurring Activity"
Within the "Transact" or "Transfers" section, you're looking for the feature that handles automated money movements.
"Automate": Tap on "Automate". This is the most common path to managing recurring activities within the app.
"Manage recurring activity": After tapping "Automate," you should see an option like "Manage recurring activity" or "Scheduled transfers & investments." Select this option.
Important Note: Fidelity regularly updates its app, so the exact wording might vary slightly. Look for terms that clearly indicate management of ongoing or scheduled transfers/investments.
Step 4: Identify the Recurring Investment Plan You Wish to Stop
Now you'll see a list of your existing recurring activities. This is where you pinpoint the specific investment you want to cancel.
Review Your Plans: You'll likely see various recurring plans listed. These could include deposits to different accounts, recurring investments into specific mutual funds, ETFs, or even Fidelity Basket Portfolios.
Tap on the Desired Plan: Carefully tap on the recurring investment plan you intend to stop. Double-check that you've selected the correct one to avoid unintended cancellations.
Step 5: Delete or Cancel the Recurring Investment
Once you've selected the specific plan, you'll be presented with options to manage it.
Look for "Delete" or "Cancel": At the bottom of the screen, or within the details of the selected plan, you should see a "Delete" or "Cancel" button. Tap this.
Confirm Your Action: Fidelity will almost certainly ask you to confirm your decision to delete or cancel the recurring investment. This is a crucial step to prevent accidental cancellations. Read the confirmation message carefully and proceed if you are certain.
Note on "Pausing": As of recent information, Fidelity's mobile app does not currently offer a "pause" option for recurring investments. If you want to temporarily stop contributions, you will likely need to delete the plan and then re-establish it when you're ready to resume. Some users have found workarounds like linking to an empty bank account, but deleting and re-creating is the most direct method.
Step 6: Verify the Cancellation
After confirming, it's always a good idea to ensure the recurring investment has been successfully stopped.
Check "Manage Recurring Activity" Again: Go back to the "Manage recurring activity" section and confirm that the plan you just deleted is no longer listed.
Look for Confirmation: You might receive an email confirmation from Fidelity regarding the cancellation. Keep an eye on your inbox for this.
And there you have it! You've successfully stopped your recurring investment through the Fidelity app.
Beyond the App: Important Considerations
While the Fidelity app makes it convenient, there are a few extra points to keep in mind regarding recurring investments.
Timelines: If your recurring investment is scheduled for a very near future date, there's a small chance it might still process if you cancel too close to the scheduled time. It's best to cancel at least one business day before the next scheduled investment.
Linked Accounts: Remember that recurring investments often pull funds from a linked bank account or your Fidelity core position. Stopping the investment only stops the purchase of securities, not necessarily the transfer of funds into your Fidelity account if you have a separate recurring transfer set up. Make sure to check and adjust those as needed.
Investment Goals: Before stopping recurring investments, consider your overall financial goals. Consistent, automated investing (often referred to as dollar-cost averaging) is a powerful strategy. Ensure your decision aligns with your long-term plans.
10 Related FAQ Questions
Here are some frequently asked questions related to stopping recurring investments on the Fidelity app, with quick answers:
How to check if my recurring investment was successfully stopped?
You can check by navigating to "Transact" -> "Automate" -> "Manage recurring activity" in the Fidelity app. If the plan you intended to stop is no longer listed, it was successfully canceled. You may also receive an email confirmation.
How to temporarily pause a recurring investment instead of deleting it?
Currently, the Fidelity app does not offer a direct "pause" option for recurring investments. You will need to delete the existing plan and create a new one when you wish to resume contributions.
How to modify the amount or frequency of a recurring investment?
To modify a recurring investment, you typically need to delete the existing plan first and then set up a new recurring investment with the desired updated amount and frequency.
How to find my Fidelity account number in the app?
Your Fidelity account number is usually displayed beneath the account name in your Portfolio Summary. You may need to tap on an individual account to see its details.
How to set up a new recurring investment after canceling an old one?
From the Fidelity app, go to "Transact" -> "Automate" -> "Set up recurring activity" and follow the prompts to create a new plan, selecting your desired investment, amount, and frequency.
How to stop automatic transfers from my bank to Fidelity (not investments)?
If you have set up recurring transfers from an external bank account to your Fidelity account (separate from recurring investments into specific securities), you would manage these under "Transact" or "Transfers" and look for options related to "scheduled transfers" or "external transfers."
How to contact Fidelity customer service if I encounter issues?
You can contact Fidelity customer service directly through the app by finding the "Contact Us" or "Help" section, which often provides phone numbers and chat options.
How to deal with insufficient funds if a recurring investment is still active?
If you don't have sufficient funds for a recurring investment, the transaction will typically be skipped for that period. There are usually no penalties from Fidelity for insufficient funds in this scenario, and the recurring plan will attempt to execute on the next scheduled date.
How to see my complete investment activity history on the app?
From the app's home screen, scroll down and tap on "Activity" to view your transaction history for various accounts. You can typically filter by account and date range.
How to ensure my future investments are not set to recur by default?
When setting up new investments, always carefully review the options before confirming. Recurring investment options are usually explicitly presented, so make sure you are not inadvertently selecting them unless that is your intention.
