At least this guy purports that based on his analysis that’s exactly what’s happening. Fidelity was the target of a fraud attack similar to Chase but with slightly different mechanics.I agree that setting check deposit limits to $1000 makes no real sense and it's pretty reactionary, unless there has been a run of customers depositing large fake checks. We'll never know for sure, Fidelity won't say one way or the other and don't have too because they are a private organization.I've seen a few posters relate Fidelity's latest moves to the Chase check fraud, but it is not a very convincing argument when Chase's situation involved withdrawing funds before a check clears, while Fidelity will hold the entire check deposit for days until it clears, thereby, eliminating the chance of that same situation ever happening at Fidelity. Fidelity seems to be making these overzealous changes on a whim and without any notice; it may be under the auspices of security, but really all they are doing is deprecating the banking features and inconveniencing customers for no apparent reason.
https://frankonfraud.com/fraud-trends/m ... ey-glitch/
Statistics: Posted by PersonalFinanceJam — Fri Sep 13, 2024 10:56 pm — Replies 24 — Views 2503