Originally Posted by
Montacute
I am trying my first cycle back of $25k to my bank account, but when I try, it says my bank is for active deposits only. How can I set up a transfer from Fido back to my bank? I am looking and can't seem to figure this...
Could I use billpay to transfer the money back to my bank?
I hope you have not made the same mistake I made. When I first set up Electronic Funds Transfer, I must have selected the first option in error. I funded the account, but was not able to transfer to my bank account (it was grayed out and the status was Deposits only. I had to set up the account again and wait for another 10 days to be able to transfer to my bank.
a) Set up electronic funds transfer and transfer money from your bank to your Fidelity account: INDIVIDUAL - TOD - This can happen immediately.
b)Set up electronic funds transfer to enable future deposits and withdrawals between your Fidelity account: INDIVIDUAL - TOD and your bank account. You may begin making transfers in 7-10 days.