Direct Deposit to CMA Transfer question
Summary of the user’s issue and solutions discussed:
- Main Problem: The user is experiencing a delay in their direct deposit setup with Fidelity, despite having provided correct routing and account numbers from their CMA, and is unsure if they need to take further action.
- Solution: Fidelity clarified that the user has done everything correctly and that it can take 1-3 pay cycles for direct deposits to start after an account is added.
- Additional Information: Fidelity noted that while they credit direct deposits as soon as received, the timing is dependent on the sending institution.
Here’s the full thread
Hello I’m new to fidelity and I’ve got a question. So my business uses ADP and I used my routing and account numbers from my CMA. My direct deposit statement on my check says “YOUR BANK WAS NOTIFIED OF YOUR REQUEST FOR DIRECT
DEPOSIT. IT WILL BEGIN AFTER ACCOUNT VERIFICATION.” Is there anything I need to do on my end or simply wait for a resolution? All routing and account numbers are correct. Check was distributed on Friday 3/15. Curious if anyone may provide some incite on my course of action.
We appreciate you opening a new account with us! I’m happy to clear this up for you.
It sounds like you’ve done everything on your end. When it comes to direct deposits, it’s important to know that once an account is added, it can take up to 1-3 pay cycles for deposits to begin.
That said, Fidelity credits direct deposits to your account as soon as we receive them from the sending institution. Although we make funds available as soon as possible upon receipt, the timing of deposits is not something we can confirm, as the sending institution handles this.
Please let us know if any other questions come up! 🟢