Bank account not linking to newly opened CMA

ByAmara5

Summary of User’s Issue and Solutions Discussed:

  • The main problem reported by the user, Pyrolyzed, is that they are unable to transfer funds into their newly opened Cash Management account despite having linked their bank account.
  • FidelityAidan explained that a newly linked bank account may undergo a prenote verification process that can take up to 4 business days, during which transfers will not be available.
  • If more than 4 business days have passed since submitting bank information and the account is still not usable, Pyrolyzed was advised to follow up through secure customer service methods provided by Fidelity.
Here’s the full thread
Pyrolyzed
09/03/2024 at 14:37:11 PDT
Hi! I recently opened a new Cash Management account, and am trying to add funds, it has me link my bank (which I’ve done before for my individual account), and once I do that, I still can’t transfer funds into it, it doesn’t show up to transfer into or from. Should I just wait longer or did I do something wrong? Thanks!
FidelityAidan
09/03/2024 at 15:22:16 PDT
Hey there, @Pyrolyzed. Thanks for dropping in this evening! I’m happy to step in here and explain what may be going on. In some cases, a newly linked bank account may be available for use instantly. However, there are cases where real-time verification cannot be used, and the bank will instead go through a prenote verification process, which typically takes 4 business days to complete. Once verification is completed successfully, you will receive an email notification letting you know that the bank is ready to use for transfers. If it has been more than 4 business days since you submitted your bank information for verification, please follow up with us via one of the secure methods outlined in the link below. Contact Us: https://www.fidelity.com/customer-service/contact-us Let us know if you have any questions for us! 🟢
Pyrolyzed
09/03/2024 at 15:22:42 PDT
Okay, thank you so much! I appreciate it.
Yeah, I wasn’t given the “How much were these 2 transactions?” prompt like I was with my first account.
FidelityShawn
09/04/2024 at 08:37:09 PDT
Hi there, @Pyrolyzed. I’ll let @FidelityAidan know. Thank you again for reaching out! 🟢

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