Not able to open account?
Summary of User’s Problem and Solutions:
- The user, jimbo, faced difficulties opening a brokerage account with Fidelity due to complications with identity verification linked to their existing work 401k account, leading to a requirement for physical verification at a branch.
- Fidelity suggested that if online verification fails, the user could complete a paper application with a physical signature to establish the account.
- Fidelity recommended downloading the account application from their website and advised including a government-issued photo ID to expedite the process.
- Another Fidelity representative clarified that the user could mail in the completed application, eliminating the need to visit a local branch.
Here’s the full thread
I went to go open a brokerage account with Fidelity today and apparently when I tried creating a new account, they already have some of my information from my work 401k. No Problem! In fact, it might be good to have all my investments on a consolidated platform. So, I completed the 2FA it send to my work email, I was prompted to create a username & password (since this is the first time logging in), and I get prompted with “Please call Fidelity and a representative can assist you”. Annoying. So I call the number specified. The representative can not comprehend how I don’t know my account numbers (I didn’t even know I had an account 15 minutes ago!). He asks for my username, which I provided. He says he is unable to verify me and I will have to go into a branch to verify my identity physically. Seriously?? I explained again the steps I did & the message on my screen and he just says there’s nothing he can do.
Is it this complicated to open an account with your platform? If it is too complicated to do this over the phone or online because of my existing 401k, I will just find another brokerage to open an account with. Fidelity was the first one I tried because of the name recognition but I am very turned off by my experience thus far. Is this normal?
Hi @jimbo, thank you for stopping by our Discord server.
I’m happy to hear you are interested in opening an account with us. With that being said, sorry to hear about your frustrations with the experience. When our online verification process is not able to verify your identity, you can still open a new account with us; however, a paper application for the account is required with your physical signature in order to establish the account for you. There is not a way to open an account online if we are not able to verify your identity.
You can download and print an account application through our All Forms page here: https://www.fidelity.com/customer-service/forms-applications/all-forms
Please note, you may wish to include a copy of a government issued photo I.D. with your account application in order to prevent any further verification delay in establishing your account.
Thanks for the response @FidelitySean , in the time since I made this post, I have signed up for etrade and already made a deposit from my bank, and am just waiting for the funds to settle. They didn’t need me to fill out a paper application!
I guess when I eventually need to access my 401k funds I’ll have to go through your ancient processes
Thanks for the help, i have no interest in taking time off of work to visit a branch in another town that closes at 5pm
I thought already having my information from my work would be a benefit – but it turns out to be a negative. Why would you make it so difficult for an “existing customer” (through my work) to open an account with you? It’s 2023, I shouldn’t have to visit a branch to fill out a piece of paper
I guess a bit rhetorical, I have no reason to remain in the discord since I won’t be using your services, just seems odd to have such a large web & mobile present but are stuck in the 80s. Visiting a branch to fill out a piece of paper? Maybe you’re appealing to the older generations with that thinking. Thanks again for the response
To clarify, you are able to download the application online and mail it in without having to visit a local branch. With that said, I am going to take your post as feedback to pass along to our development team for review. We understand it can be a frustrating process for clients with an existing workplace account, such as your 401(k). I hope you have a nice rest of your day.
I’m from Nigeria and we don’t use social security number. Please how can I register without social security?
My country don’t issue social security number, however we have BVN (Bank Verification Number) which is unique to every individual.
Thanks for reaching out to us here!
Typically, individuals residing outside of the U.S. are not able to open a personal investing account with Fidelity. To open an account, you would need to provide your social security number or a Taxpayer ID Number (TIN). 🟢