Not able to withdraw/transfer money
Summary of User’s Issue and Solutions:
- The main problem reported by the user is that, despite having increased their investments, their account shows a cash balance of zero, preventing withdrawals.
- To withdraw funds, the user needs to place trades to free up cash from their investments, which will then become available for withdrawal after the trades settle.
- Settlement for equities and ETFs is typically two business days after the trade date, while mutual funds may take 1-3 business days depending on the fund.
- The user is encouraged to utilize Fidelity’s educational resources, including a dedicated “Learn” section on their website, to better understand investing and trading.
Here’s the full thread
Still sort of learning how everything works, but I’ve put a decent amount of money into some things. The investments have gone up in money from the amount I originally put into the account and started with, but it is telling me I have a cash balance of zero and that I can’t take anything out? Any help for me to better understand would be greatly appreciated!
Hi, @teak1Rust.We appreciate you stopping by our Discord this evening.
It sounds like you may have invested your funds into various securities, and now your “Cash available to withdraw” is showing $0.
If your funds are fully invested and you wish to withdraw, you will need to place trades to free up cash. When the trades settle, your funds will be available for withdrawal. You can visit the link below for a step-by-step guide on how to place trades.
How to trade: https://www.fidelity.com/learning-center/trading-investing/trading/how-to-trade-stocks-etf
As for timeframes, settlement for equities and Exchange Traded Funds (ETFs) is Trade date + two business days (T+2). Settlement for mutual funds can range from 1-3 business days, depending on the fund.
Since you’re new to investing, I want to ensure you’re aware of the resources on Fidelity.com. Our website has a dedicated “Learn” section that is a great starting point for your investing education. You can get there by selecting the “News & Research” tab and then “Learn.” Within Fidelity Learn, we have a hub dedicated to new investors full of articles, video tutorials, expert insights, and more. I’ve linked one of our trading series below, which you may find helpful.
Investing for beginners: https://www.fidelity.com/learning-center/trading-investing/investing-for-beginners
With that said, if what we described above doesn’t quite fit your situation, feel free to follow up with us. We’re here to help as you embark on your investing journey!🟢
Now when I transfer the money, does it come from the securities funds? And also, what does putting money into securities do?
I’ll be happy to jump in and clarify further, @teak1Rust.
Essentially, when we refer to the word securities, this is simply another way to say investments such as stocks, mutual funds, or ETFs. When you put money into securities, this is when you buy something in hopes that it’ll appreciate (aka increase in value) or generate income.
Based on the information you shared previously, you’ll simply need to place a trade for the securities in your account in order to have the appropriate cash to make a withdrawal. This essentially means yes. The funds you’d be withdrawing would come from the investments themselves.
If you need anything else clarified, don’t be a stranger!