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[MEGATHREAD] Addressing your questions about account and money movement restrictions. Please keep all discussion on this topic within this post.
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fidelityinvestments is in megathread
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Recently, we've seen a number of posts on this sub about account restrictions, and many of you are (understandably) curious about what’s going on. We’re creating this megathread to reshare some info from our previous thread and be clear about how we make decisions regarding your account.

Going forward, we ask that all discussion on this topic be held in this thread. If you’re having a problem with your account, you can mod mail us to explain the issue and we’ll be happy to assist you.

So, why would Fidelity restrict an account? Here are some of the main reasons: 

  • Fraud concerns 
  • Financial exploitation concerns 
  • Missing documentation 
  • Possible violations of industry regulations or federal or state law 

The policies, procedures, and restrictions we use when reviewing an account for potentially fraudulent activity allow Fidelity to protect our customers. We have many systems in place that prevent you from losing access to your account.

We’re grateful for this community's questions, discussions, and vigilance. 

—The r/fidelityinvestments mod team 

Comments

I am literally going to be evicted because I couldn’t pay my rent due to this change….. idek what to do

I have filed a FINRA complaint and am going to try and contact news outlets to get attention on this. I can’t even post about it without it being removed. I am going to lose my apartment and Fidelity will still happily hold my money until 10/26. Deposit was initiated 10/3. Ridiculous and disgusting behavior. Whenever I can access my money I am moving to another institution. Lesson learned the hard way- guess I’ll have fun finding another place to live too :)

I am literally going to be evicted because I couldn’t pay my rent due to this change….. idek what to do

I have filed a FINRA complaint and am going to try and contact news outlets to get attention on this. I can’t even post about it without it being removed. I am going to lose my apartment and Fidelity will still happily hold my money until 10/26. Deposit was initiated 10/3. Ridiculous and disgusting behavior. Whenever I can access my money I am moving to another institution. Lesson learned the hard way- guess I’ll have fun finding another place to live too :)

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2 months ago