No - I’ve kept a (very) low four figure account in my CMA cash/money market positions. I haven’t been overly greedy. But I don’t think that keeping ~$1,200 on average in that account and withdrawing $100 a month is particularly questionable.Did you keep $0 in CMA and rely on over draft from brokerage?I've had at least 6-figures in Fido accounts for the last 10 years, and I was caught up in this. I have never had an issue with my accounts, and previously I've had stellar customer service. In this case there was zero communication, zero explanation, zero sympathy from customer service reps. They had other options to protect themselves (e.g., longer holds on deposited checks rather than banning depositing checks over $1K). This is a stark reminder that Fido isn't a bank, and shouldn't be trusted as one -- I'm just glad I always saw them as a secondary option.How many of those issues were for newer accounts vs people with well established accounts?
Even the reddit threads seemed to indicate the issue was for newer accounts or people doing unusual transactions.
Statistics: Posted by CashConfessions — Fri Sep 20, 2024 11:02 pm