You can withdraw money from your Fidelity brokerage account and:
- Transfer it to another account you own using the Fidelity Electronic Funds Transfer account service, or
- Have the money sent to your mailing address via check.
For information about transferring money between your Fidelity and bank accounts, see Transferring Money or Shares.
- From what kinds of accounts can I withdraw money?
- Are there any fees for requesting a check?
- Is there a penalty for withdrawing my money?
- The address that appears for me is wrong. How do I change it?
- If I change the address on my account, how long must I wait to make a withdrawal by check?
- What's the maximum I can request to withdraw from my account?
- What are the minimums and maximums for online cash transfers?
- How long will it take for me to receive my check?
- Can I have a withdrawal sent by check to someone other than me?
Related Help Topics
From what kinds of accounts can I withdraw money?
You can withdraw money via check from most non-retirement accounts. On Portfolio Summary, select Withdraw Money from the Select Action drop-down box. There are some restrictions which may prevent withdrawals from being requested online. These restrictions are in place to protect customers.
Are there any fees for requesting a check?
No fees are assessed for requesting a distribution from your account in the form of a check. If a mutual fund is sold in order to honor your request, however, fees may apply.
Is there a penalty for withdrawing my money?
No penalties are assessed for withdrawing your money from your non-retirement account via check.
The address that appears for me is wrong. How do I change it?
To change the address to which a check will be sent, first update your mailing address by clicking Update My Mailing Address. Once you update your mailing address, return to the Withdraw Money screen and process your request. To protect against fraud, after you change your address, the amount you can withdraw online is reduced.
If I change the address on my account, how long must I wait to make a withdrawal by check?
If you've changed the address on your account, you don't have to wait to make a withdrawal by check. However, to protect against fraud, if you've changed your mailing address within the past 15 days, the most you can request to withdraw by check online is $10,000.
What's the maximum I can request to withdraw from my account?
The maximum you can request to withdraw from your account online or by telephone is $100,000 per account. To request a withdrawal greater than $100,000, you must complete a paper form. You can obtain a copy of that form by going to Customer Service > Find a Form, or by contacting a Fidelity representative at 800-544-6666. If you've changed your mailing address within the past 15 days, the most you can request to withdraw by check online or by telephone is $10,000.
What are the minimums and maximums for online cash transfers?
The minimum amount for a brokerage account transfer is $10. The maximum transfer into your Fidelity brokerage account is $100,000. The minimum amount for a Portfolio Advisory ServicesSM (PAS) account transfer is $250. You cannot request to withdraw more than 25% of your Portfolio Advisory Services account's net worth.
How long will it take for me to receive my check?
Depending upon mail delivery in your area and the type of account from which you are withdrawing money, it generally takes between three to five days to receive your check once you've requested it.
Can I have a withdrawal sent by check to someone other than me?
At this time, online requests for a withdrawal by check can only be sent to your address of record and may be payable only to the account owners on file.
Related Help Topics
FAQs
Withdrawal options
- Electronic funds transfer (EFT) to your bank (instructions must already be on file). ...
- Bank wire to your bank of choice.
- Paper check sent via US Mail.
- Move cash to a Fidelity non-retirement account.
In general, you can't take a distribution from your 401(k) account until one of the following events occurs: You die, become disabled, or otherwise terminate employment. Your employer terminates your 401(k) plan.
How long does it take to be able to withdraw money from Fidelity? ›
The processing time for your withdrawal depends on the method you use to withdraw your money. If you choose to transfer your money electronically to another account, such as a checking or savings account, your withdrawal should process within 1 to 3 business days if you submit your request by 4 p.m. ET.
How do I withdraw money from my investment account? ›
Can you pull money out of a brokerage account? Yes, you can pull money out of a brokerage account with a bank account transfer, a wire transfer, or by requesting a check. You can only withdraw cash, so if you want to withdraw more than your cash balance, you'll need to sell investments first.
How much can I withdraw from my Fidelity account? ›
The maximum amount per day is $100,000 for withdrawals, and $250,000 for deposits. If you need to deposit more than $250,000 per day, or withdraw more than $100,000 per day, you can call Customer Service at 800 544-6666 to hear your options for the daily limit for electronic funds transfer (EFT).
Why isn t my brokerage cash withdrawable? ›
When you sell funds you'll need to wait for the trade to settle before you can withdraw the cash. This normally happens 2 business days after the trade completes.
How do I fully withdraw from my 401k? ›
Wait to Withdraw Until You're at Least 59.5 Years Old
By age 59.5 (and in some cases, age 55), you will be eligible to begin withdrawing money from your 401(k) without having to pay a penalty tax. You'll simply need to contact your plan administrator or log into your account online and request a withdrawal.
How do I completely withdraw from my 401k? ›
Generally, you'll need to complete some paperwork, and describe why you need early access to your retirement funds. Unless you're 59 1/2 or older, the IRS will tax your traditional 401(k) withdrawal at your ordinary income rate (based on your tax bracket) plus a 10 percent penalty.
Can you withdraw 100% 401k? ›
If you cash out the entirety of your 401(k) you will get whatever is left over after taxes (and penalties if you are younger than age 59.5).
What qualifies for a hardship withdrawal Fidelity? ›
The IRS considers immediate and heavy financial need for hardship withdrawal: medical expenses, the prevention of foreclosure or eviction, tuition payments, funeral expenses, costs (excluding mortgage payments) related to purchase and repair of primary residence, and expenses and losses resulting from a federal ...
Transferring Your 401(k) to Your Bank Account
That's typically an option when you stop working, but be aware that moving money to your checking or savings account may be considered a taxable distribution. As a result, you could owe income taxes, additional penalty taxes, and other complications could arise.
What are the terms of withdrawal from Fidelity 401k? ›
If you are under age 59½, your earnings may be subject to the 10% early withdrawal penalty. If you are over age 59½, you may withdraw before-tax funds (excluding your TVA matching funds) from the 401(k) Plan. You will not pay an early withdrawal penalty; however, your distribution will be taxed as ordinary income.
How do I withdraw money from my Fidelity 401k? ›
Go to Fidelity.com or call 800-343-3548. Use this form to request a one-time withdrawal from a Fidelity Self-Employed 401(k), Profit Sharing, or Money Purchase Plan account. Possible requests include a one-time, immediate distribution; a qualified or direct conversion to a Roth IRA; or a direct rollover.
What is the rule for withdrawal from investments? ›
The 4% rule is a popular retirement withdrawal strategy that suggests retirees can safely withdraw the amount equal to 4 percent of their savings during the year they retire and then adjust for inflation each subsequent year for 30 years.
How much can I withdraw from my investments? ›
The sustainable withdrawal rate is the estimated percentage of savings you're able to withdraw each year throughout retirement without running out of money. As an estimate, aim to withdraw no more than 4% to 5% of your savings in the first year of retirement, then adjust that amount every year for inflation.
Can I withdraw more than 100k from Fidelity? ›
If you need to deposit more than $250,000 per day, or withdraw more than $100,000 per day, you can call Customer Service at 800-343-3548 to hear your options for the daily limit for electronic funds transfer (EFT). The transfer limit for bank wires is $100,000 per day, per client.
Can I withdraw all my 401k Fidelity? ›
If you are under age 59½, your earnings may be subject to the 10% early withdrawal penalty. If you are over age 59½, you may withdraw before-tax funds (excluding your TVA matching funds) from the 401(k) Plan. You will not pay an early withdrawal penalty; however, your distribution will be taxed as ordinary income.
Can I withdraw 100k from my bank? ›
Unless your bank has set a withdrawal limit of its own, you are free to take as much out of your bank account as you would like. It is, after all, your money. Here's the catch: If you withdraw $10,000 or more, it will trigger federal reporting requirements.
Is it safe to have all my money at Fidelity? ›
Protecting your assets
With our Customer Protection Guarantee, we reimburse you for losses from unauthorized activity in your accounts. We also participate in asset protection programs such as FDIC and SIPC to help provide the best service possible.
