Do outbound wires use an intermediary bank?
Summary:
- The main problem reported by the user is uncertainty about how outbound domestic wire transfers from Fidelity are labeled when received by the destination bank.
- Fidelity clarified that outbound wires typically show as coming from National Financial Services.
- Fidelity does not charge a fee for wire transfers, but users should check with their receiving bank regarding any potential fees and for their specific wire instructions.
- A link to additional resources on wire transfers was provided for further guidance.
Here’s the full thread
Because Fidelity itself is not a bank, I know that Fidelity uses an intermediary bank for inbound wires–JP Morgan in the case of domestic transfers. I presume that this may be the case for outbound wires as well.
For outbound domestic wire transfers, when the destination institution receives the wire, where will it appear to be coming from? Is it JP Morgan in this case as well?
Hi there, @Claviarm.
In most cases, when you send a domestic wire from your Fidelity account to your outside linked bank it will show as coming from National Financial Services.
Keep in mind that while Fidelity does not charge a fee for wire transfers, your bank may. We recommend reaching out to them for their wire instructions and information on their process.
Bank Wire from Fidelity: https://www.fidelity.com/customer-service/money-movement
If you have additional questions, please don’t hesitate to ask. We’re always happy to help. 🟢