Are you wondering: “How can I deposit cash into my Fidelity checking account or brokerage account?”
Cash Deposits at Fidelity
So, here’s the deal: Fidelity doesn’t accept physical cash deposits, even if you walk into a local branch. But don’t worry, there are other ways to fund your account.
Alternative Deposit Methods
Fidelity offers a variety of deposit methods that you can use to fund your account. These methods include:
- Electronic Funds Transfer (EFT)
- Check deposits
- Wire transfers
- Direct deposit
- Transfer of assets from another financial institution
Each of these methods has its own process and timeline for funds to become available.
Collection Period for Fidelity Deposits
Now, when you make a deposit, there’s something called a “collection period.”
Let’s talk timeframes:
- Electronic Funds Transfers (EFT): EFT deposits can take 2 to 6 business days to fully collect.
- Check Deposits: The collection periods for check deposits can vary, but most are fully collected within 2-6 business days.
How To Check for Your Deposit Status on Fidelity
You can easily check the status of your deposit on Fidelity.com by following these steps:
- Log in to your Fidelity account.
- Click on Accounts & Trade in the top left corner and select Cash Management in the dropdown.
- Choose your specific Fidelity account in the left column.
- Check the Upcoming Activity or Transactions tabs to see when your deposit is expected to be collected.
While Fidelity does not accept physical cash deposits, several alternative methods for funding your account are available. You can choose between EFT, check deposits, wire transfers, and other funding options.