I didn't really have an opinion on the CMA until Fidelity instituted a 16-day holding period for fraud prevention in September of this year. Sucks that I can't fully fund my Roth IRA until mid-Jan b/c the funds have to settle for a few weeks.
Also, I can't link the CMA to my Amex checking manually, as it always returns an error. I've chatted w/ an Amex rep about this, and they said it has to be a legit checking account.
Also, I can't link the CMA to my Amex checking manually, as it always returns an error. I've chatted w/ an Amex rep about this, and they said it has to be a legit checking account.
@Windchill92 wrote:
I didn't really have an opinion on the CMA until Fidelity instituted a 16-day holding period for fraud prevention in September of this year. Sucks that I can't fully fund my Roth IRA until mid-Jan b/c the funds have to settle for a few weeks.
Also, I can't link the CMA to my Amex checking manually, as it always returns an error. I've chatted w/ an Amex rep about this, and they said it has to be a legit checking account.
Sounds like an AMEX issue. I've never had any problem linking any checking accounts to my Fidelity CMA, and I've done it numerous times. Never had any 16 day holding period? And for fraud prevention?
@ElvisCaprice Yeah it started with those Chase check fraudsters this past fall (2024), then there was another group who did a similar thing w/ Fidelity (self-dubbed the "Fidelityboyz"), causing them to limit incoming checks and pulled (i.e., not pushed or direct-) deposits.
I might hop on the phone with Amex to see if a rep can add it.
Edit: Site note, I think Vanguard has a fund hold similar to Fidelity instituted currently, albeit a shorter hold length.