Fidelity Investments is one of the largest financial services companies in the world, offering brokerage and banking services to millions of customers. One convenient feature is the ability to deposit checks remotely using your mobile device. However, Fidelity does impose limits on these mobile check deposits to manage risk. In this article, we will explore the specific deposit restrictions and maximums enforced by Fidelity.
Daily and monthly mobile check deposit limits
Fidelity allows customers to deposit checks remotely using their mobile app. However, they restrict the amount that can be deposited this way. The daily limit for mobile check deposits is $25,000. In addition, there is a rolling 30-day limit of $50,000. If a customer attempts to deposit more than these limits, the deposit will be rejected by Fidelity.
Number of checks allowed per day
Fidelity permits customers to deposit up to 10 checks per day through the mobile app. If more than 10 checks are submitted in a single day, customers may receive an error message informing them they have exceeded the checks-per-day limit.
Types of accounts with mobile deposit
Fidelity enables mobile check deposit for most cash management and brokerage accounts. This includes individual and joint taxable brokerage accounts, traditional IRAs, Roth IRAs, HSAs, 529 college savings plans, and Fidelity Cash Management Accounts. Simple IRAs and SAS-IRA accounts currently do not support mobile check deposit.
In summary, Fidelity caps daily remote check deposits at $25,000, with a 30-day limit of $50,000. Customers can submit 10 checks per day through the mobile app. The service is available on most Fidelity brokerage and cash management accounts.