The holds tend to involve money that was recently deposited to Fidelity through a mobile check deposit or through an EFT transfer initiated by Fidelity.I contributed $7000 to my Traditional IRA account last week, and the amount has settled. However, when I attempted to do the conversion to Roth, it says the amount of cash available for withdrawal in my TIRA account is a few cents (earnings on the contribution).
When I reached out to a Fido agent, she said I will need to wait until 10/24 before making the conversion. The reason she gave was that all transfers are paused for 3 weeks due to fraudulent transfer activity that is pervasive at this time.
Hard to believe, they are asking to wait for 3+ weeks. Is this a known issue? Are other brokerages doing the same?
I just did a Roth Conversion on Sunday with Fidelity and all went through fine for me.
Personally, I have not been impacted by the new controls. Yet.
Statistics: Posted by Affable at 50 — Wed Oct 02, 2024 9:20 pm — Replies 17 — Views 1775