I sold my stocks. When will the money be in my bank account?
- Main Problem: The user, Batilda, is uncertain about when the proceeds from her stock sale, initiated on June 28, will be available in her bank account.
- Solution Explained: The proceeds from the sale will first deposit into her core position and are not automatically transferred to an external bank account.
- Steps to Transfer Funds: To transfer money to an outside bank, Batilda can follow these steps:
- Click “Accounts & Trade” and select “Transfer” in the dropdown.
- Navigate to “Deposit, withdraw, or transfer money” and choose the appropriate accounts.
- Linking a Bank Account: If Batilda needs to link a new bank account, she should go to “Transfers” under “Accounts & Trade,” select “Manage bank accounts,” and then click “Link a new bank or recipient.”
Here’s the full thread
I sold my stocks. The settlement date is 07/01. When will the money be in my bank account?
Hi, @Batilda. We appreciate you visiting our Discord. I’m happy to talk trade settlement and transfer timeframes with you today.
If you recently sold stock in your account, the trade must be fully settled before the proceeds can be withdrawn. It’s important to remember that settlement dates vary depending on the investment. The settlement timeframes are below. Keep in mind that these do not include nights or weekends.
• Stock and Exchange Traded Funds (ETFs) trades settle one business day after the trade date, also described as T+1.
• Mutual funds typically settle one business day after the trade date as well, T+1, but vary depending on the fund.
Understanding trade settlement (Video): https://www.fidelity.com/learning-center/trading-investing/trading/settlement-video
This means you will need to wait for the trade to settle before you can withdraw the cash. Once the trade has fully settled, the cash will be reflected in your “Cash available to withdraw” balance, which represents the amount collected and available for immediate withdrawal.
Now, if you’re requesting an Electronic Funds Transfer (EFT) to a linked bank account, EFTs may take 1-3 business days to be received. Alternatively, bank wires submitted before 4:00 p.m. ET are processed the same day and typically received within a few hours.
EFT vs Bank Wire: https://www.fidelity.com/customer-service/choose-eft-or-bank-wire
Now, you may use the trade proceeds to purchase another security immediately before the cash settles in an unrestricted account, but you must be mindful of trading violations, such as a Good Faith Violation (GFV). A GFV occurs when you buy a security and sell it before paying for the initial purchase in full with settled funds.
Avoiding cash account trading violations: https://www.fidelity.com/learning-center/trading-investing/trading/avoiding-cash-trading-violations
If you have additional questions, please let us know. We are happy to help. 🟢
so if i understand right, this is not wired to my bank. Money will get to my account again and then i will transfer that money. Right? and also this is the 4th day because i sold my stock at 28th june. Up to your given information , shouldnt it already converted.
Thanks for your answer!
@FidelityHeather
When you sell a stock the proceeds from the sale will deposit into your core position. They are not automatically transferred to an external bank account. If your goal is to transfer the money to an outside bank, you can do so by following the steps below.
1. Click “Accounts & Trade” and choose “Transfer” in the dropdown
2. Navigate to the “Deposit, withdraw, or transfer money”
3. Choose the appropriate “From” and “To” accounts
If you need to link a bank, please follow the steps below once logged in.
1. Under “Accounts & Trade,” select “Transfers”
2. Go to “Manage bank accounts”
3. Click “Link a new bank or recipient”
Transfers: https://www.fidelity.com/customer-service/money-movement
If there is anything we can clarify or if additional questions pop up, please don’t hesitate to ask! We’re always happy to help. 🟢