My Check Deposit Went to Investments, Not Cash Balance
Summary of User’s Problem and Solutions Discussed:
- The user reported that their deposited check went into their investments value instead of their cash balance.
- One suggested solution is to wait approximately 3 days for the check to be processed.
- Fidelity mentioned that checks deposited through the Mobile Check Deposit feature take 2-6 business days to become available for withdrawal.
- Users are allowed to trade with uncollected funds, but they should be cautious of potential trading violations.
Here’s the full thread
So i deposited a check and it went into my investments value instead of my cash balance. Is there anyway i can change that?
Yes. Wait ~3 days.
Thanks for the question today!
At this time, checks deposited using our Mobile Check Deposit feature take 2-6 business days to be fully collected and available for withdrawal in most cases. Checks that are mailed in have the same collection period, however, the timeframe won’t commence until we receive the check in the mail.
Keep in mind, Fidelity does allow you to place trades immediately with uncollected funds in your brokerage account. This allows you to get invested quicker, however, trades placed with uncollected funds are done so on good faith. Please make sure you’re aware of potential trade violations when using uncollected funds, as committing violations can result in the suspension of these privileges.
Avoiding Cash Trading Violations: https://www.fidelity.com/learning-center/trading-investing/trading/avoiding-cash-trading-violations
If you have additional questions, be sure to let us know! 🟢