Question About Account Automations
Summary:
- The user, Xyphur, is seeking a way to automatically transfer funds from one account to another when cash exceeds a certain threshold, and then invest the excess into an ETF or mutual fund, given their irregular income.
- FidelityDexter informed Xyphur about an Automatic Transfer/Investment feature that allows setting up an automated plan to transfer a specific dollar amount on a scheduled basis.
- While the user can automate the investment of transferred funds into a mutual fund they already own, automated investment into an ETF is currently not available.
- Transfers can only be scheduled, rather than based on the specific account balance.
Here’s the full thread
Is there any way to automatically transfer funds from one account to another when cash exceeds a certain threshold, and then invest the excess into an ETF/MF? I would set up periodic automatic investing but my income is irregular and would prefer to have it automated based on the value in the account that I deposit money into.
Hey @Xyphur, we have an Automatic Transfer/Investment feature that will allow you to set up an automated plan to transfer a specific dollar amount on set schedule–you could then automate the investment of those funds into a mutual fund that you already own.
Currently, automated investment into an ETF is not available. Also, the transfers, as mentioned, would be based on a schedule, not a specific account balance.🟢