Yes. I don’t have CMAs with Fidelity. The only links I have with this brokerage account are my banking accounts. And the only transaction I ever made with this account was when I opened it and ACH transferred funds from my bank to deposit in the brokerage account — almost 2 years ago.And this was from a Fidelity brokerage account, not the Fidelity CMA?The ACH transfer was listed as DIRECT DEBIT XXXXXXXX INC SALE. Never did business with this company, which an internet search suggests is legitimate and no one has told me how this occurred except to say that a fraudster got a hold of my brokerage account number, which I never use for anything.
Because I thought you could only link brokerage accounts with banks, and that required either micro deposits or giving login credentials to some trusted third party in order to verify the link.
I’ve been told from Fidelity and other institutions that anyone masking as a legitimate entity can pull money by ACH from your accounts if they have your account credentials. In the past, fraudsters posing as NC Tax Department and US Bank initiated ACH pulls from my accounts.
I’ve become almost paranoid about this and lockdown all investment and retirement accounts, where the feature is available. As to checking or banking accounts, I rely on alerts. I was thinking of using a CMA with this brokerage account but will probably not do that now!
Statistics: Posted by ChrisC — Sat Aug 23, 2025 8:26 am — Replies 83 — Views 8516