All you need to know about withdrawal on Fidelity

Reading time: 4 minutes

Being able to access your money is one of the top priorities when it comes to choosing a broker. Here, we will show you the withdrawal options, possible fees, how fast you can access your funds, and why Fidelity is a reliable broker, where you can withdraw your money without safety concerns.

Withdrawal at Fidelity is not the most user-friendly, according to our analysis. In any case, there are some issues, such as currency and closing positions, you have to pay attention to.

To give you a brief summary: Fidelity is a US stockbroker. It is regulated by top-tier authorities SEC and FINRA.

THE ESSENCE:

  • Fidelity charges $0 for withdrawal
  • The withdrawal process is usually executed within 2 days
  • Fidelity is a reliable broker, regulated by at least one top-tier regulator
  • You can only withdraw funds to accounts in your name

First, let's see if Fidelity is available in your country?

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How to withdraw money from Fidelity
Is Fidelity safe?

To trust your money with a broker, you need to be sure that the broker is considered trustworthy. We, at BrokerChooser, only recommend regulated brokers, meaning the broker's operations are overseen by a trusted body.

Fidelity can be considered a legit broker as it is overseen by at least one top-tier regulator, which is a great sign for reliability.

For you, this means that your money is in good hands and you will be able to withdraw your funds.

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How to withdraw money from Fidelity
What withdrawal methods are available at Fidelity?

At Fidelity, you have multiple options to choose from when you would like to withdraw money. These options are the following: Bank transfer, PayPal, Venmo, Apple Pay.

Remember, you can only withdraw funds to accounts that are in your name.

Withdrawal options Fidelity
Bank transfer Yes
Credit/Debit card No
Electronic wallet Yes

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How to withdraw money from Fidelity
How long does it take to withdraw from Fidelity?

Withdrawing your funds from a brokerage account is a bit different than withdrawing money from, let's say, a bank account. Unlike some deposit options, withdrawal is rarely instant.

Keep in mind that if you have all your funds invested, you have to close some of your positions first to get access to cash, which you can withdraw later on. After closing some of your positions, the broker might need some time to make the funds available for you for withdrawal.

At Fidelity, the withdrawal process is usually executed within 2 days.

How to withdraw money from Fidelity
What are the withdrawal fees at Fidelity?

The good news is that Fidelity charges no fees for withdrawal.

Withdrawal option Withdrawal fees
Credit/Debit card -
Domestic bank withdrawal $0.0
International bank withdrawal $0.0
Electronic wallet Not available

Conversion fees

Pay attention that if your Fidelity account's base currency and bank account's currency differ, you might be charged a conversion fee depending on your personal bank.

At Fidelity, the following base currencies are available: USD, EUR, GBP, AUD, CAD, DKK, HKD, JPY, MXN, NZD, NOK, PLN, ZAR, SGD, SEK, CHF.

To avoid high conversion fees, consider opening a multi-currency account at a digital bank.

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How to withdraw money from Fidelity
What to keep in mind when withdrawing from Fidelity?

Withdrawing your funds from a brokerage account is a bit different than withdrawing money from, let's say, a bank account. Unlike some deposit options, withdrawal is rarely instant.

Keep in mind that if you have all your funds invested, you have to close some of your positions first to get access to cash, which you can withdraw later on. After closing some of your positions, the broker might need some time to make the funds available for you for withdrawal.

At Fidelity, the withdrawal process is usually executed within 2 days.

How to withdraw money from Fidelity
Wrap-up

You are awesome for having read through this article! Making sure you can access your funds might seem overwhelming at first, but the best time to start dealing with your finances is always right now.

You're doing great! Navigating through the world of brokerages is hard, and we want to help you along the way. If you are stuck somewhere, have a question, or a suggestion, please drop us an email.

Author of this article

Ádám Nasli

Author of this article

Ádám worked in banking and investment, and holds a professional degree in this field. He is a motivated finance expert, having joined BrokerChooser in 2018. He's also eager to help people find the best investment provider for them, and to make the investment sector as transparent as possible. In his spare time, he loves learning new things, especially data science, algo-trading, programming and trading.

Ádám Nasli

Analyst head

Ádám worked in banking and investment, and holds a professional degree in this field. He is a motivated finance expert, having joined BrokerChooser in 2018. He's also eager to help people find the best investment provider for them, and to make the investment sector as transparent as possible. In his spare time, he loves learning new things, especially data science, algo-trading, programming and trading.

Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology

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