Transferring money out of Youth Account
Summary:
- The main problem reported by the user is uncertainty about whether there are fees for withdrawing money from a core position in a Fidelity account, and concerns about the difficulty of accessing funds compared to a regular bank account.
- Fidelity confirmed that there are no fees for transferring funds to or from the account.
- Users can withdraw any amount they need at any time without restrictions.
- Fidelity provided a link for more information on transferring funds to and from the account.
Here’s the full thread
Is there a fee to take money out of my core position? I was thinking of putting most of my money into the account because of the almost 5% yield but others are saying that it is harder to take money out of this account then a regular bank account.
Hi, @Bren. We appreciate your interest in depositing money into a Fidelity account!
When you deposit money into a non-retirement brokerage account, the money will sit in your account’s core (cash) position, earning interest.
Fidelity charges no fees to transfer funds to or from your Fidelity account. Additionally, you can withdraw as little or as much as you need, whenever you need.
You can learn more about ways to transfer to/from your Fidelity account here: https://www.fidelity.com/customer-service/deposit-money
Let us know if you have other questions!🟢