Can’t link bank account that is not owned by me to my Roth IRA account
Summary of User’s Issue and Solutions:
- The user is having trouble linking a checking account to their Roth IRA because the account is not owned by them, resulting in a looping error during the process.
- Suggested solutions include:
- Clearing the cache and cookies from the browser and restarting the linking process.
- Trying to link the account using a different browser.
- If issues persist, contacting Fidelity’s Technical Support Team for further assistance.
- As a last resort, submitting a form to add the third-party bank, which requires a Medallion signature guarantee.
- Considering direct deposit options from the bank account into the Fidelity account as an alternative method for linking.
Here’s the full thread
Hello, I was trying to get my Roth IRA account setup and I’ve been having problems linking my checking account. The checking account is not owned by me so I selected “Someone else” for the question “Who owns this bank account?” After I click continue it gives me a screen on how it will verify my identity and ask for banking and routing numbers. I click continue once more and it just returns me to the original “Link a bank” screen and I’m stuck in this loop. Any help would be greatly appreciated.
Hi, @tronjo. Thanks for choosing Fidelity for your retirement needs. I am sorry to hear you are experiencing difficulties linking a bank account, but I am happy to help troubleshoot.
We haven’t received widespread reports of issues linking banks at this time. You may try clearing the cache and cookies from your browser and restarting the process. You might also find success with another browser.
If those steps don’t prevail, I suggest working with our Technical Support Team for further troubleshooting assistance. They are available Monday through Friday from 8:30 a.m. to 9:00 p.m. ET.
Fidelity Contact Information: https://www.fidelity.com/customer-service/contact-us
If the issue persist, as a last resort you can add the third party bank by form. Note that a Medallion signature guarantee is required to establish 3rd Party EFT instructions for a bank account that is not in your name.
Electronic Funds Transfer (EFT) Authorization (PDF): https://www.fidelity.com/bin-public/060_www_fidelity_com/documents/electronic-funds-transfer-and-bank-wire.pdf
Please keep in mind, third party EFTs only allow for transfers of money from a Fidelity account to the linked bank account. Third-party EFTs cannot be used for deposits into Fidelity accounts. Instead, you may work with your bank to link the Fidelity account to your bank account on their end.
One common method is to direct deposit cash from your bank account into the Fidelity account. Fidelity’s direct deposit information is linked below. Keep in mind that login is required to access the link as direct deposit information is account specific.
Direct Deposit and Direct Debit Information (Requires Login): https://digital.fidelity.com/prgw/digital/login/full-page?exp=new&AuthRedUrl=https://digital.fidelity.com/ftgw/digital/direct-deposit-information/
I know I threw a lot of information at you, if we can help with anything else please let us know!🟢