The Fidelity investments mobile app offers a convenient mobile check deposit feature to add funds quickly to your accounts. By scanning checks with your phone camera, you can make deposits remotely without visiting a Fidelity branch. However, deposited funds may take 1-2 business days to become available for trading or withdrawal, and there are deposit limits to be aware of.
Mobile deposit saves trips to Fidelity branches
The Fidelity app’s mobile deposit feature means you don’t have to visit a Fidelity branch or ATM to deposit paper checks. You simply use your phone’s camera to scan the check and submit the deposit electronically. This handy tool makes adding money to your Fidelity accounts quicker and more convenient when you receive checks.
Deposited funds availability depends on check amount
While mobile deposit offers ease of use, be aware that deposited funds may take 1-2 business days to become available in your Fidelity account, depending on the check amount. Checks under $5,000 become available on the next business day generally. But checks of $5,000 or more require a 2 business day hold before you can use the money to trade or withdraw it.
Daily and monthly deposit limits to know
The Fidelity mobile deposit feature also has defined limits for the amount you can deposit daily or monthly. The maximum you can deposit per check is $25,000. But you can only deposit up to $50,000 total per day and $250,000 cumulative per month via mobile deposit. If you exceed those limits, you’ll have to visit a Fidelity Investor Center or ATM for the deposit.
The Fidelity mobile app offers convenient check deposit capabilities, but deposited funds may require 1-2 days to become available, and daily/monthly deposit limits apply. Check availability rules and deposit limits are useful to know when adding money remotely.