Fidelity Investments Reviews

Deposited my state payroll check and they placed a 30 day hold on it. I initially called the "Lack of Customer Service" phone number and was told that I need to call back on Monday and they can help me sort it out. Come Monday I called and this time I was told that it is an error made by their Sacramento branch and only they can help fix it. That the state warrant was incorrectly coded as checks rather than state warrant. Per the rep, I will have to call back in 30 minutes so he can call the branch to have it sorted out. So like a naive person, I called back and the rep I got this time around, placed me on hold while they called the branch. 40 minutes later we were still on hold.

Hello, I have had Fidelity account for a long time. I was very disappointed today as I was talking to Ms. ** and as I am asking for help, not only she had an attitude and telling me that "I am telling you for the third time about your position in the account what do you want me to do?" while she is saying that she is in the wrong account giving me wrong numbers and that is why I was verifying the amount three times. It is not acceptable. Mistakes people can make but the attitude not good while you make mistake. Quality matters to customers.

I was banned from the Reddit "Fidelityinvestments" group because I alerted other members that their current settlement dates are unreasonably long. I deposited money Dec 6th and was told yesterday that it will not be available until after the 31st, not 3-5 business as advertised. I was also told "Fidelity is not a bank, these things happen, it's in our disclosure, sorry".

I’ve been a client for 15 years and recently I transferred a large sum of money into an active trader account. Some of it sat in cash for 5 days and I wanted to transfer it back to my checking account, which had typically taken 3-5 business days. Without notice that period for funds to clear to withdraw cash will take 3 weeks! The excuse was that people were setting up external bank accounts with checks and transferring the money to Fidelity. Again for 15 years I’ve used the same checking account to make deposits and now I’m expected to wait three weeks to verify funds to get that money back. I work in asset management and this is the most egregious customer service offense I’ve ever seen. I’m incredulous and looking into hiring counsel to advise.

So far I have spent more than 50 minutes, on the phone, mostly on hold, trying to get an end of year review appointment. My favorite attempt was someone informing me that his computer wouldn't him make any appointments. Currently just wasted 10 minutes talking to a woman who said she'd call me back with an appointment. (That call should have taken maybe 2 minutes?) (at least she didn't put me on hold). That was more than an hour ago. I haven't heard back. I'm going to cash out of Fidelity and buy Costco gold. I'm on my own.

Stay away from Fidelity. For my safety they withhold my check deposits between 1 and 2 months. Imagine depositing your paycheck and you cannot access funds for 1-2 months. They are criminals in plain sight. There are thousands of complaints around this issue as can be seen on the BBB website. The SEC is investigating this fraudulent company as they withhold customer funds and execute short investments for themselves (basically a free loan to them). AGAIN STAY AWAY THIS BANK.

I am sending this message to report unfair treatment. Just a few days ago I was receiving commendations and reassurance from Fidelity for being proactive and reporting a scam from a job offer and Fidelity seemed on my side. Now as of today, checking my account and talking to agents, I find that my accounts have been closed without notice and that is the so-called “right of Fidelity” without explanation. I find it despicable for someone who was a victim to continue to be further subjected to complications from someone who was supposed to be fighting on their side. I was nothing but honest and called Fidelity as soon as I thought there was an issue. I took measures to safeguard my account and Fidelity as I moved through the process and testing the waters with this job.

I have been a current customer of Fidelity financial for several years. After retiring in December 2023 I transferred my 401(k) to an IRA with Fidelity. I am currently in negotiations with purchasing property for a home that we are going to build. Prior to close. I contacted Fidelity and informed Fidelity that I needed $135,000 transferred from my IRA to the law firm. That I was handling the purchase of the property. The money was supposed to be there and assured the following day 24 hours later.

Do not work with this company! They will hold on to your money for a month. Say it's for your own security and make interest off of it. I transferred a large sum less than 24 hours ago and they said they have to hold it for 3 weeks. This is the most astronomical holding. I've ever encountered. You should have access to your own money! Horrible company!

They throw business away!!! STUPID. STUPID. STUPID. Setting up an account for my wife and it turns out she may already have an account with them? I am told to call Custome Service. Turns out she has an old account from years ago and she has thrown the account numbers and statements away. After 4 phone calls and half a day on the phone we are told to drive across town to their nearest office and show them her ID. SORRY, just opened an account with VANGUARD in 15 minutes. STUPID

I’ve been a customer at Fidelity for nearly 20 years. They apparently just changed their policy to hold deposits for 16 days. This has cost me personally and financially I will be pulling my money out of this institution.

OUTRAGEOUS!!! Fidelity now holds funds for 30 Calander days that are deposited by EFT or check. They give no prior notice and the funds will not be returned or usable for 30 days. Whoever came up with or approved of this bonehead idea should be FIRED. Their lame excuse is that "there has been a recent uptick of fraudulent activity". So, it takes them a month to figure out whether the transaction is fraudulent??? BEWARE

Beware. Whatever they were before they aren't now. Currently holding six figures of my money for 21 days, won't let me trade and won't give me my money back. FINRA was useless as expected. They are using my money to make money while I am unable to get access to it. In short, based on the forums they have been doing this for months. This violates EFAA, which requires disclosure and for all wires and ach transfers to process in no more than 2 days.

Fidelity uses outdated software and cannot complete transactions in timely fashion. I am a beneficiary and it took like 2 hours for agent to look at my beneficiary letter and my husband's death certificate.

Today I received the worst customer service ever…in my life. The customer service supervisor I asked to speak with regarding the issues that I have been experiencing for months with them was argumentative, and was speaking loudly and speaking over me. The information he gave me was in direct contradiction to the information the representative last week gave me. I have been calling every week for months and each time the person I talk to gives me information that contradicts the person from the week before. I tend to agree with the person that says they cancelled their Fidelity account to go with SoFi. I too only use them for banking and I too get the feeling each time I speak with Fidelity that they could care less about my business.

Fidelity leaked my social security and closed my account without giving me access to withdraw my retirement savings of over 10k. I have been on hold for over 9 hours and called dozens of times and they always say they can't provide any information or transfer my funds.

Fidelity had a data breach in which a "third-party" was able to access my Social Security Number, Fidelity Account Number and my connected bank account number. I called Fidelity's "hotline" where they read me, verbatim, the letter that they already sent me. In that letter, they failed to identify who the third-party was, how this happened and, specifically, what they were doing in the future to address this. I spoke with 3 different customer representatives, one being a supervisor.

Updated on 12/04/2024: Ironically since I wrote my previous review on Fidelity, I first received an email saying my application was not complete (obviously) and now I'm receiving random emails from Fidelty about an account I'm completely unaware of. This company is all over the place. It is borderlining on harassment especially after making it crystal clear in person and via their customer service via phone in a Fidelty office that I won't be doing business with them. As long as they continue reaching out, I will be writing a negative review.

I have question on getting a QDRO form for my attorney and was told it would be up to 3 weeks before someone would contact me to answer my question. REALLY, 3 weeks to just answer a question?. It’s totally absurd. Thanks for listening, Larry.

Fidelity has recently extended the time it takes to clear a transfer from an outside bank to THREE WEEKS. We've used Fidelity for our banking and bill pay for many years without complaint but this sudden and seemingly arbitrary change of terms is a deal-breaker. After two conversations with representatives I've come to the conclusion that they are actively trying to shake loose those of us who use them for banking only without trading, to which I say - mission accomplished! We're going with SoFi. 3 Days to clear and 4% interest with Direct Deposit. No brainer! See ya, Fidelity.

I was a customer of Fidelity for less than two months when one day I learned my account was blocked. I called the number they directed me to call. They told me someone tried to hack my account. I was on the phone with them for an hour and a half. They said, "Your account is blocked" but after answering many questions about my previous cars, relatives, addresses' etc. and they were satisfied I am who I say I am no advice was given on how to unblock my account. So, I had them sell my securities and wire transfer the money back to my Schwab account. I was trying to establish a relationship with Fidelity because sometimes they participate in dividend reinvestment programs that Schwab doesn't but it's not worth it.

I called to see what my brokerage fee for fidelity investment is, I didn't know my mom's social security, Zach ** was the horrible representative. He refused to transfer me to a supervisor. After listening to him for 27 minutes I got my mom's social security number to him, and then he tells me since I didn't tell him earlier he can't answer my question. But he keeps mm mm me. Doesn't tell me he can't even answer my question but keeps me on the phone for 30 min? Very disappointed just asking one question, he wouldn't tell me the brokerage fee. Isn't that against the law.??

Their employees have no acknowledge of the recent laws and regulations. They seem to hire unknowledgeable and unexperienced people. Been with them for years and totally fed up. Time to look elsewhere.

Failed to pay pension amount promised on all communications for 30 years. Lowered the payment because they can recalculate at time of payment. Not starting payments and refusing to pay after 16 months of sending information the required. Keep adding more requirements to process payments and never ending cycle. Just more excuses not to pay. Not paying any interest or penalties for keeping my money longer and not paying anything. No care or concern for the impact to mess the client.

Was a happy customer for 24 years until this week, when they seized/froze my cash assets in the name of 'fighting fraud' because of some situation at Chase. My employment income goes into this account to pay mortgages, and other expenses, now I'm having payess tell me their payments are being denied and it's making me look very bad. $8k in my cash account and I cannot make routing payments as my cash is tied up until next month, when they are giving it back Nov. 1st. In violation of Federal Regulation CC, there was zero advance notice of warning of their premeditated behavior.

I made a transfer from another bank to my Fidelity brokerage account. I was told there would be a possible 2 or 3 day hold on the funds. After 3 days I checked account and it was still on hold. I called Fidelity and they said it would be a 3 or 4 week wait for the funds to be available. They said they had just changed the policy because of too much fraud going on. That is ridiculous. My account did not have any fraud on it in the past. I'm still waiting for the funds. I told the rep on the phone I will never make another transfer from another bank into any of my Fidelity accounts.

Very complicated and unfriendly mobile user. Lost chance in markets. CAnnot transfer FUND out and the Representatives WILL close the chat windows because you review bad on them. The feedback page was 3 times frozen on purpose to lock out the review. Representatives does not present and does not solve problem for you because you reviewed bad about another representative before him.

Fidelity recently made a change where they are temporarily holding deposits and transfers into your accounts for 16 days before you can access and with NO NOTIFICATION. When you deposit or transfer it says it will be available in 1- 3 days. I called to find out why I could not access my funds I had transferred in from another account a few days ago. I was told that it is now 16 days due to a global fraud issue. I then asked why the app/website doesn't share that information- as I would not have deposited had I known. It said 1-3 days...

Extremely frustrated by the total lack of basic customer service, their failure to follow-thru with communication as promised but not extended, multiple phone calls, being switched around to several different representatives, told I had to speak with the "Fraud" Dept., etc.. And was initially told there is a 2-3 day delay due to them being "backed-up". Today, after yet another attempt to rectify my "blocked" account dilemma, was told they are now about 7-10 days out from assisting me. To top it off, was told this morning (after a 30 minute wait @ starting at 8:30am,) that my account was not only "blocked", but had been closed 6 weeks ago and therefore, consequently, will not allow me to access any information, let alone statement info, etc..

I feel the same as others here, my spouse passed away two months ago. I am beneficiary for both accounts. The IRA rollover went easily so I thought until I kept getting transfer notices that never occurred! The 401k has not been addressed or transferred where it is who knows? I’ve not received one single form or any correspondence except emails saying they’ve contacted me which they have not! I have called multiple times. Get the run around EVERY TIME. At this point this company is holding my deceased accounts hostage and needs to get its act straight! Sadly there’s little a person can do against these guys. Extremely upset it’s bad enough losing a loved one. This company is not the IT game they used to be.