If you recently opened a Fidelity account, you may have trouble transferring money from your bank to your brokerage account.
This error message appears when an issue prevents the transfer from being processed.
Error (MMH2000) Your transaction cannot be processed at this time. Please try again later, or call a Fidelity Representative at 800-544-6666.
This account is currently ineligible for transfers due to a restriction. Please select another account to continue.
First, make sure that you have properly linked your bank account to your Fidelity account. You can do this by visiting the Transfers page on the Fidelity website.
Once your bank account is linked, it may take a few business days for the transfer to be processed.
During this time, check your bank account’s transactions page for two small deposits made by Fidelity. These deposits are used to verify the connection between your bank account and your Fidelity account.
If you’re still experiencing issues with the transfer, contact Fidelity customer service. They will be able to assist you with troubleshooting the problem and getting your account restriction lifted so that you can transfer money to your brokerage account.
Here’s an alternative method shared by one of our readers:
I have multiple accounts with Fidelity, including my primary brokerage account, a 529 plan, and a Roth IRA.
However, I cannot transfer funds directly from my bank account into any of my other accounts. Instead, I am required to first transfer the funds into my individual account, wait for the transfer to clear, and then transfer the funds into the desired account.
You can try that and see if it works.