Hey there! Ready to take control of your finances and move your money where it can work harder for you? Transferring money from your Wells Fargo account to your Fidelity investment account might seem like a daunting task, but I promise, with a little guidance, it's a straightforward process. Let's break it down step-by-step so you can confidently make that move.
This comprehensive guide will walk you through the various methods, required information, and important considerations to ensure a smooth transfer.
How to Transfer Money from Wells Fargo to Fidelity: A Step-by-Step Guide
There are generally a few ways to transfer money between your Wells Fargo bank account and your Fidelity investment account. The best method for you will depend on your urgency, the amount you're transferring, and your personal preferences.
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| How To Transfer Money From Wells Fargo To Fidelity |
Step 1: Decide Your Transfer Method
Before we dive into the nitty-gritty, let's figure out how you want to move your money. This is arguably the most crucial first step because it dictates the rest of the process. Do you need it there fast, or are you comfortable with a few business days' wait?
Here are your primary options:
- Electronic Funds Transfer (EFT) / ACH Transfer: This is generally the most common and cost-effective method. It's like setting up a direct deposit, but for your investment account. Funds are pulled directly from your Wells Fargo account and deposited into your Fidelity account.
- Wire Transfer: If you need to move a large sum of money quickly, a wire transfer is your best bet. However, be aware that wire transfers typically come with fees from Wells Fargo.
- Direct Deposit: If you want to regularly send a portion of your paycheck or other recurring income directly to Fidelity, setting up direct deposit is an excellent option.
- Check Deposit: For smaller amounts or if you prefer a physical method, you can write a check from your Wells Fargo account and deposit it into your Fidelity account. This is generally the slowest method.
- Transfer of Assets (TOA): If you're looking to transfer existing investments (like stocks, bonds, or mutual funds) from a Wells Fargo brokerage account to Fidelity, this is the process you'll use. It's different from transferring cash.
Ready to pick your path? Once you've got your preferred method in mind, let's move on to gathering the necessary information.
QuickTip: Slow down when you hit numbers or data.
Step 2: Gather Essential Information
Regardless of the transfer method you choose, you'll need specific details for both your Wells Fargo and Fidelity accounts. Having these handy will make the process much smoother.
Sub-heading: For Your Wells Fargo Account (Sending Account)
- Account Number: This is the full account number for your Wells Fargo checking or savings account from which you'll be transferring funds.
- Routing Number (ABA Number): This nine-digit number identifies Wells Fargo Bank. You can usually find this on your checks, within your online banking portal, or by contacting Wells Fargo directly. For domestic wire transfers, Wells Fargo's wire routing transit number is typically 121000248. For ACH, it might be different, so it's best to verify through your online banking or by calling Wells Fargo.
Sub-heading: For Your Fidelity Account (Receiving Account)
- Fidelity Account Number: This is your specific Fidelity brokerage or mutual fund account number where the funds will be deposited.
- Fidelity's Routing Number (ABA Number): For Electronic Funds Transfer (ACH) to Fidelity, the routing number is 101205681.
- Fidelity's Wire Transfer Information: If you're doing a wire transfer, Fidelity will have specific wire instructions, including a receiving bank name (e.g., J.P. Morgan Chase or Deutsche Bank Trust Company), their routing number for wires, and a specific account number for Fidelity's clearing firm (e.g., National Financial Services LLC). You'll then need to specify your Fidelity account number for final credit. Always get the precise wire instructions directly from Fidelity's website or by contacting their customer service.
- For Brokerage accounts:
- Wire funds to: J.P. Morgan Chase, NY
- Routing number: 021000021
- For credit to: National Financial Services LLC
- Account number: 066196–221
- For the benefit
of: Your name and Fidelity account number
- For Mutual fund only accounts:
- Wire funds to: Deutsche Bank Trust Company
- Routing number: 021001033
- For credit to: Fidelity Group of Funds
- Account number: 00163053
- For the benefit of: Your name and Fidelity account number (and fund name if applicable)
- For Brokerage accounts:
Step 3: Initiate the Transfer
Now that you have all the necessary information, let's initiate the transfer.
Sub-heading: Method 1: Electronic Funds Transfer (EFT) / ACH Transfer (Recommended for most users)
This is usually the easiest and most common way to move money. You can initiate this either from your Wells Fargo online banking or from your Fidelity account. Initiating from Fidelity is often recommended as Fidelity has an incentive to make the process smooth.
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Option A: Initiating from Fidelity (Pulling Funds)
- Log in to your Fidelity account: Go to Fidelity.com and sign in.
- Navigate to "Move Money": Look for a "Move Money" or "Transfers" section.
- Link your Wells Fargo account: If you haven't already, you'll need to link your Wells Fargo bank account. This typically involves providing your Wells Fargo routing number and account number. Fidelity might use a micro-deposit verification process (depositing small amounts into your Wells Fargo account that you then verify) or an instant verification method where you log into your Wells Fargo account through Fidelity's secure portal.
- Initiate the transfer: Once linked, select "Transfer" or "Deposit" and choose your Wells Fargo account as the "From" account and your Fidelity account as the "To" account.
- Enter the amount: Specify the amount you wish to transfer.
- Review and confirm: Double-check all the details before confirming the transfer.
- Processing Time: EFTs typically take 1-3 business days to process. Funds may be available for trading sooner, but a hold period might apply for withdrawals.
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Option B: Initiating from Wells Fargo (Pushing Funds)
- Log in to Wells Fargo Online®: Access your account via their website or mobile app.
- Go to "Transfer & Pay" or "Transfers": Look for the section dedicated to transfers.
- Add External Account: If you haven't already, you'll need to add your Fidelity account as an external account. You'll need Fidelity's routing number (101205681) and your Fidelity account number. Similar to Fidelity, Wells Fargo may use a micro-deposit verification.
- Initiate a transfer: Select your Wells Fargo account as the "From" account and your Fidelity account as the "To" account.
- Enter the amount and frequency: Specify the amount and choose if it's a one-time or recurring transfer.
- Review and submit: Verify all information carefully and then submit the transfer.
- Processing Time: Transfers from Wells Fargo to an external institution are generally processed within 2 business days.
Sub-heading: Method 2: Wire Transfer (For larger, urgent transfers)
Wire transfers are faster but often incur fees.
- From Wells Fargo:
- Gather Fidelity Wire Instructions: Refer to Step 2, Sub-heading: For Your Fidelity Account, to get the precise wire instructions from Fidelity. This is critical to ensure your funds reach the correct place.
- Log in to Wells Fargo Online or visit a branch: You can often initiate digital wires online through "Transfer & Pay" -> "Wire Money." For larger amounts or if you prefer in-person assistance, visit a Wells Fargo branch.
- Provide Recipient Details: You'll need to provide all the Fidelity wire instructions you gathered: Fidelity's receiving bank name, routing number, Fidelity's clearing firm's account number, and your specific Fidelity account number for final credit.
- Specify Amount and Review: Enter the amount you wish to wire and carefully review all the details.
- Confirm and Pay Fees: Wells Fargo charges a fee for outgoing wire transfers (e.g., $25 for digital wires, $40 for branch wires). Confirm the fee and proceed.
- Processing Time: Domestic digital wires are typically sent the same business day if submitted by the cutoff time (often 3:00 PM Pacific Time). Funds are generally available the same day at Fidelity once received.
Sub-heading: Method 3: Direct Deposit (For recurring income)
This is great if you want a portion of your paycheck or benefits to go directly to Fidelity.
Tip: Reread slowly for better memory.
- Get Fidelity Direct Deposit Information: Log in to your Fidelity account and look for "Direct Deposit" information. Fidelity will provide you with a routing number and account number specifically for direct deposits to your brokerage account. This is usually the same routing number as for ACH transfers (101205681) but will include your specific Fidelity account number.
- Provide Information to Your Payor: Give this information (Fidelity's routing number and your Fidelity account number) to your employer's HR or payroll department, or the agency providing your recurring income. They will have a form for you to fill out.
- Processing Time: Direct deposits typically take 1-2 pay cycles to go into effect.
Sub-heading: Method 4: Check Deposit (For smaller, less urgent transfers)
- Write a Check: Write a personal check from your Wells Fargo checking account payable to "Fidelity" or "Fidelity Brokerage Services LLC" (confirm the exact payee name with Fidelity).
- Include Your Fidelity Account Number: Crucially, write your Fidelity account number clearly on the memo line of the check.
- Deposit the Check: You can deposit the check in a few ways:
- Mobile Deposit: Use the Fidelity mobile app to take a picture of the check and deposit it electronically.
- Mail the Check: Mail the check to Fidelity's processing center (find the address on Fidelity's website).
- Visit a Fidelity Investor Center: If you have one nearby, you can deposit the check in person.
- Processing Time: Mobile and mailed checks can take several business days to clear and for funds to become available.
Sub-heading: Method 5: Transfer of Assets (TOA) (For moving investments, not just cash)
This is for moving an entire brokerage account or specific securities.
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- Initiate with Fidelity: It's almost always best to initiate a TOA from the receiving institution (Fidelity). Log in to your Fidelity account and search for "Transfer Assets."
- Provide Wells Fargo Account Details: You'll need to provide your Wells Fargo brokerage account number and the type of account (e.g., individual, joint, IRA).
- Choose "In Kind" or "Liquidation": You can choose to transfer investments "in kind" (meaning the actual securities transfer over) or to liquidate them at Wells Fargo and transfer the cash. Transferring in kind avoids potential taxable events from selling assets. However, some proprietary mutual funds may not be transferable in kind and might need to be liquidated.
- Sign and Submit: You may need to sign a transfer form. Fidelity will then contact Wells Fargo to facilitate the transfer.
- Processing Time: Full TOAs typically take 5-7 business days, while partial transfers usually take 3-5 business days. Factors like account type, securities being transferred, or communication from the transferring firm can delay the process.
Step 4: Verify and Monitor Your Transfer
Once you've initiated the transfer, it's important to keep an eye on its progress.
- Check Your Fidelity Account: Regularly log in to your Fidelity account online or through the mobile app to see if the funds have arrived.
- Check Your Wells Fargo Account: Ensure the funds have been successfully debited from your Wells Fargo account.
- Utilize Fidelity's Transfer Tracker: If you initiated a Transfer of Assets (TOA), Fidelity often provides a "Transfer Tracker" tool where you can monitor the status of your request.
- Contact Customer Service: If you experience any unexpected delays or issues, don't hesitate to contact Fidelity's customer service first, as they have the incentive to help you get the money into your account. If the issue originates from Wells Fargo's side, you may then need to contact them.
Important Considerations
- Fees: While Fidelity generally does not charge fees for incoming ACH or wire transfers, Wells Fargo does charge fees for outgoing wire transfers. Be aware of any potential fees from Wells Fargo for your chosen transfer method.
- Transfer Limits: Both Wells Fargo and Fidelity may have daily or transaction limits for electronic transfers. Check with both institutions if you plan to transfer a very large sum via ACH. Wire transfers generally have higher limits.
- Hold Periods: For ACH transfers, Fidelity might place a temporary hold on the funds, meaning they are visible in your account and may be available for trading, but cannot be withdrawn or transferred to another account until the hold clears (typically a few business days). Wire transfers generally have no hold period.
- Account Ownership: The names on your Wells Fargo account and your Fidelity account should match exactly for smooth transfers. Mismatched names can lead to delays or rejection of the transfer.
- Tax Implications: Transferring cash between accounts generally has no direct tax implications. However, if you are performing a Transfer of Assets (TOA) and liquidating investments at Wells Fargo, there could be capital gains or losses to consider. Always consult a tax advisor for personalized advice.
- Security: Always use secure connections (e.g., your home Wi-Fi, not public Wi-Fi) when conducting financial transactions online. Be wary of phishing attempts and never share your login credentials.
By following these steps and keeping these considerations in mind, you can efficiently and securely transfer money from your Wells Fargo account to your Fidelity investment account, empowering you to manage your investments effectively.
10 Related FAQ Questions
Here are 10 frequently asked questions about transferring money from Wells Fargo to Fidelity, with quick answers:
How to check my Wells Fargo routing number for ACH?
You can find your Wells Fargo routing number on your checks, by logging into your Wells Fargo Online banking portal (usually under account details or direct deposit information), or by calling Wells Fargo customer service. Be aware that the routing number for ACH transfers might be different from the one for wire transfers.
QuickTip: A quick skim can reveal the main idea fast.
How to find my Fidelity account number?
Your Fidelity account number can be found by logging into your Fidelity.com account, on your monthly statements, or by contacting Fidelity customer service.
How to link my Wells Fargo account to Fidelity for transfers?
You can link your Wells Fargo account to Fidelity directly through Fidelity's "Move Money" section by providing your Wells Fargo routing and account numbers. Fidelity often uses micro-deposits or instant online verification to confirm the link.
How to initiate a recurring transfer from Wells Fargo to Fidelity?
Once you've linked your Fidelity account to your Wells Fargo online banking as an external account, you can set up recurring transfers within Wells Fargo's "Transfer & Pay" section by choosing a frequency (e.g., weekly, bi-weekly, monthly).
How to send a wire transfer from Wells Fargo to Fidelity?
Log in to Wells Fargo Online, navigate to "Transfer & Pay" -> "Wire Money," and provide Fidelity's specific wire instructions (receiving bank name, routing number for wires, Fidelity's clearing firm's account number, and your Fidelity account number for final credit). Alternatively, visit a Wells Fargo branch.
How to avoid fees when transferring money from Wells Fargo to Fidelity?
To avoid fees, use an Electronic Funds Transfer (EFT) or ACH transfer, which is typically free from both Wells Fargo and Fidelity. Wire transfers from Wells Fargo usually incur a fee.
Tip: Revisit this page tomorrow to reinforce memory.
How to track my transfer from Wells Fargo to Fidelity?
For ACH transfers, monitor both your Wells Fargo and Fidelity accounts for the debit and credit. For Transfers of Assets (TOA), Fidelity offers a "Transfer Tracker" tool on their website. For wire transfers, you can contact Wells Fargo for a wire trace number.
How to set up direct deposit into my Fidelity account from my employer?
Obtain your Fidelity direct deposit information (routing number and your Fidelity account number) from Fidelity.com, then provide this information to your employer's payroll department.
How to transfer investments (stocks, mutual funds) from Wells Fargo to Fidelity?
This is done via a "Transfer of Assets" (TOA) initiated from your Fidelity account. Log into Fidelity.com, search for "Transfer Assets," and provide your Wells Fargo brokerage account details. You can choose to transfer "in kind" or liquidate the assets.
How to resolve a delayed or failed transfer from Wells Fargo to Fidelity?
First, contact Fidelity's customer service as they are the receiving institution and have an incentive to assist. Provide them with the transaction details. If the issue is on Wells Fargo's side, Fidelity might advise you to contact Wells Fargo directly, providing specific information for their investigation.
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