At Fidelity it might be held for 3-4 weeks, but you should be able to invest it, just not withdraw. Although there have been problems with moving money around within Fidelity too.So, at this contentious moment in time, what’s the best bet for depositing a large certified check? I’m receiving a check tomorrow for proceeds from a house sale. It was arranged by siblings and I did not realize that wiring the resultant funds would not be an option.
My choices are Fidelity- 20 year relationship for retirement accounts, two year relationship for CMA- or capital one, 20 year relationship for daily banking. Capital One ought to be the easy choice, except they closed all their branches with an easy reach.
So now I’m flummoxed. Do I schlep out to the branch an hour away, or do I take a chance on Fidelity’s mobile deposit? It would be exceedingly convenient to access the funds within five business days, but not strictly necessary.
I prefer depositing checks at my bank, which is about 20 minutes away. Once it clears, pull the money into the brokerage. But it appears that pulling money into Fidelity isn't working very well either at the moment, if you plan to withdraw in less than 3-4 weeks.
Statistics: Posted by rkhusky — Wed Oct 02, 2024 8:59 pm