Fidelity MoneyLine Transfer: Impressively Fast

[Varsity_Lu]

I transfered some money out of my Fidelity Cash Management account today around 10:30 and by 4:00 it had already hit my bank and cleared, ready for withdraw. I was pretty impressed. I have been using AmEx's same day transfer service for a few months and really like it, but most other services take a day or two (or longer) for funds to clear. Some deposits take forever to clear with Fidelity, so I was expecting a  wait.  I am pleasantly surprised. 

[TrapLine]

It seems to me that one of the partners to Fidelity Investments uses the "FastFed" Program. Fidelity has a few partners so the variations in processing depends on which partner handles it. The partners as I recall fall to UMB, Leader Bank, NY Mellon, Elan/ US Bank for starters.

Elan for instance, is part of the US Bank family and has FastFed as part of their processing. 

[FicoMike0]

That's good news. Did you ach push from fidelity?

I've used both usb and amex, that same day transfer is great!

I've gotten same day ach push from usb to huntington. I'm going to try other banks as well.

[TrapLine]

Key to this is pushing from the outside financial to Fidelity Investments. Much better odds on a same day FastFed transaction.

If you have Fidelity Investments pull the funds from a financial you "may lay in wait" ... or, be dead by the time the funds are credited. Ten to 30 days can happen (speaking with hands on experience).

Again, Fidelity Investments has to wade through their various partner relationships for the funds to be pulled in (many hands in the transaction, and a MyFico poster mentioned this). Followed the comments and found same day for crediting if i pushed from an outside financial! Yeah