My avaialble balance shows 0 on ATP why is this ?
Here’s a summary of the main problem and solutions discussed in the conversation:
- Main Problem: The user, Robot Trade, reports that their available balance shows zero but they are still able to execute new trades.
- Solution: Fidelity explains that some deposit methods have a collection period during which funds are not available for withdrawal, but users can still place trades with uncollected funds.
- Collection Timeframes: Electronic Funds Transfers (EFT) may take 2 to 6 business days to collect fully, while check deposits can also vary in collection time.
- Checking Deposit Status: Users can see the expected collection date of their deposit by logging into their Fidelity account and checking the “Balances” tab under “Account Summary.”
- Avoiding Collection Periods: To bypass collection periods, users can opt for bank wires or direct deposits, which are fully collected upon receipt.
This information should help clarify the issue with the user’s account and provide options for future deposits.
Here’s the full thread
My available balance shows zero but I am able to execute new trades why is this ?
Loan
Hey there, @Robot Trade.
When you deposit funds to your Fidelity accounts, some methods have a collection period. During the collection period, the funds are not available to withdraw from the account; however, Fidelity allows clients to place trades for most securities online with uncollected funds immediately, subject to security type and up to certain dollar limits.
To review collection timeframes, Electronic Funds Transfers (EFT) can take 2 to 6 business days to fully collect, and check deposit collection periods can vary. Still, collection timeframes are generally processed within 2 to 6 business days. Keep in mind, this excludes weekends and holidays.
You can see precisely when your deposit is expected to be collected by logging into http://Fidelity.com and clicking the “Balances” tab on the “Account Summary” page. From there, you’ll scroll down to the desired account, and below the “Available to withdraw” section, you’ll see the pending deposit with the expected collection date.
For future reference, if you wish to avoid collection periods altogether, bank wires and direct deposits are fully collected upon receipt. If you choose a bank wire, while Fidelity does not charge a fee for processing, other institutions may. You can review our complete list of deposit methods through the link we’ve included below.
Depositing Money Into Fidelity: https://www.fidelity.com/customer-service/deposit-money
Please let us know if you have additional questions or concerns. 🟢