Complaints

This profile includes complaints for Fidelity Investments's headquarters and its corporate-owned locations. To view all corporate locations, see Find Local Branches.

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  Fidelity Investments

  245 Summer Street Boston, MA 02210-1133

• 

  Fidelity Investments

  238 Main St Cambridge, MA 02142-1016

• 

  Fidelity Investments

  44 Mall Rd Burlington, MA 01803-4536

• 

  Fidelity Investments

  155 Congress St Boston, MA 02110-2511

• 

  Fidelity Investments

  200 Endicott St Danvers, MA 01923-3619

The complaint text that is displayed might not represent all complaints filed with BBB. Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business.

• Initial Complaint

  Date:05/25/2025

  Type:Billing Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I have repeatedly contacted Fidelity Investments to close a joint account and remove it from my online profile. Despite multiple calls and secure messages over the past several months, the account remains active and continues to appear on my Fidelity online dashboard.Each time I reach out, Im told the issue is being handled, but no action is taken. This is unacceptable for a financial institution and has caused unnecessary stress and concern about my account security and privacy. I no longer wish to see or have access to this joint account, and I have clearly requested its complete closure and removal from my online profile.I am requesting that Fidelity:1.Permanently close the joint **************** it entirely from my online access.3.Provide written confirmation that the account is closed and ********** filing this complaint due to Fidelitys ongoing failure to resolve this issue, despite ample time and repeated communications. I would appreciate the BBBs assistance in getting Fidelity to take appropriate action.

  Business Response

  Date: 06/02/2025

  Dear Better Business Bureau: 
  
  Your organization forwarded Fidelity a complaint from ***** ******. We wanted to make you aware we emailed the client on June ******, to address the client's complaint. We consider the matter fully reviewed and resolved.   
  
  Sincerely, 
  
  Fidelity Investments 

• Initial Complaint

  Date:05/23/2025

  Type:Product Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I am writing to file a complaint regarding the unexpected closure of my Fidelity account. I have not received any clear communication or explanation from Fidelity about why my account was closed. Despite sending two letters I have not received any definitive information regarding the reason for the closure. The most recent communication I received was an email from Fidelity on May 4th, which merely stated that they had received my letter and were looking into it. This email was clearly a generic response and did not address any specific details regarding the closure or the status of my account.Every day that I am unable to access my account, I am losing money. I am unable to buy or sell stocks as needed, and this delay is causing me to miss out on important investment opportunities. In addition, I am concerned because I have not received my money back, nor has anyone contacted me about its status. This is money that I deposited into the account, invested, and earned a profit on. Where is my money? I feel that my funds are being held without explanation, and at this point, I am considering it stolen. I have invested my personal funds into this account, and I should have immediate access to my earnings.I have attempted to reach Fidelity multiple times for clarification, but I have not received a satisfactory or clear response. I am requesting that Fidelity provide a detailed explanation of why my account was closed, when I will have access to my funds, and why no one has contacted me about the status of my money. The lack of communication and transparency has caused me significant frustration and financial loss.I am filing this complaint with the Better Business Bureau in the hopes that it will prompt Fidelity to resolve this matter quickly and fairly. I expect to receive clear communication regarding my account status and my funds.Thank you for your attention to this urgent issue.

  Business Response

  Date: 05/29/2025

  Dear Better Business Bureau: 
  
  Your organization forwarded Fidelity a complaint from ***** *******. We wanted to make you aware we contacted the client by email on May 28, 2025, to address the client's complaint. We consider the matter fully reviewed and resolved.
  
  Sincerely, 
  
  Fidelity Investments 

  Customer Answer

  Date: 05/29/2025

  Better Business Bureau:I have reviewed the response submitted by the business and have determined that the response does not satisfy or resolve my issues and/or concerns in reference to complaint # ********. Please add your rejection comments below; if you do not provide any details, your complaint will be closed as Answered. 

  No response as to where my money is or when I will receive it. Also its its unacceptable regardless of policy that a financial company cannot give a reason as to why my account was unreasonably closed. If I was aware of any wrong doing I would not have any issues with the outcome of this and their unfair policy to not have to explain why the account was closed. 
  
  Businesses and Customers should be civil, courteous and polite in their responses to complaints. It is important to remain professional and productive when participating in the BBB complaint process.
  
  FAQ
  
  Regards,

  *****

   

   

  Business Response

  Date: 06/08/2025

  Dear Better Business Bureau: 
  
  Your organization forwarded Fidelity additional comments from ***** ******* regarding his complaint. We wanted to make you aware we contacted the client by email on June 6, 2025, to reiterate our response to the client's complaint. We consider the matter fully reviewed and resolved. We regret Mr. ******* is unhappy with our response.
  
  Sincerely, 
  
  Fidelity Investments 

  Customer Answer

  Date: 06/09/2025

  Fidelity has still failed to provide a clear, specific explanation for why my accounts were closed. I have made multiple requests through phone calls, certified letters, and now this BBB complaint. Each time, I have received only vague references to general policy without any justification specific to my situation.
  
  
  I still do not have access to my funds. I have not been given any transaction records or a final accounting of what was in my accounts. I have been blocked from buying or selling investments, which has caused financial harm, including lost opportunities and profits. Fidelitys refusal to engage directly or meaningfully address these concerns is unacceptable and should not be considered a resolved matter.
  
  I am asking Fidelity, again, to provide:
  
  A clear explanation for why my accounts were closed
  A full accounting of all funds and assets held in my accounts
  Immediate instructions or assistance to recover my funds
  
  Until these points are addressed, I do not consider this matter closed.
  
  
  

  Business Response

  Date: 06/17/2025

  Dear Better Business Bureau: 
  
  Your organization forwarded Fidelity additional comments from ***** ******* regarding his complaint. We wanted to make you aware that we contacted the client by email on May 28 and June 6, 2025, responding to his two prior BBB complaints regarding this matter.  In our June 6 message, we notified the client that we considered the matter closed and would no longer respond to communication related to the issue. We regret Mr. ******* is unhappy with our responses.
  
  Sincerely, 
  
  Fidelity Investments 

  Customer Answer

  Date: 06/18/2025

  Fidelitys repeated refusal to provide any specific explanation for closing my accounts or returning my funds is unacceptable. Simply repeating that they consider the matter closed does not resolve the issue. I still have not received:
  
  1. A clear reason for the account closures
  
  2. A full breakdown or statement of the assets and cash held in my accounts
  
  3. My money returned or instructions on how to retrieve it
  
  Until Fidelity directly addresses these basic concerns, this matter remains unresolved.
  
  Sincerely,
  ***** *******
  
  
  

  Business Response

  Date: 06/26/2025

  Dear Better Business Bureau: 
  
  Your organization forwarded Fidelity additional comments from ***** ******* regarding his complaint. We wanted to make you aware that we contacted the client by email on May 28 and again on June 6, 2025, responding to his two prior BBB complaints regarding this matter.  We provided next steps for Mr. ******* that he should call and work with our Fraud team, which, at the time of this writing, he has not done. Additionally, we notified the client that we considered the matter closed and would no longer respond to communication related to the issue. We regret that Mr. ******* is unhappy with our responses.
  
  Sincerely, 
  
  Fidelity Investments 

  Customer Answer

  Date: 06/26/2025

  Fidelity closed my account without warning or explanation. Despite repeated efforts including mailed letters, phone calls, and multiple BBB communications, I still have not received my funds. I was eventually given a number to call, but that only came after weeks of being ignored. I have already called in the past and was not given any real help.
  
  I should not have to call again when I have gone through every proper and documented channel to get answers. To this day, I have never been told why my account was closed or why my funds have not been returned. All I have received are vague responses and redirection.
  
  This issue is not resolved. The main problem is that I am still missing money that I deposited and invested. Fidelitys refusal to explain anything or return my funds is completely unacceptable. I am not asking for special treatment. I am asking for accountability, a proper explanation, and for my money to be returned.
  
  

• Initial Complaint

  Date:05/23/2025

  Type:Sales and Advertising Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  Fidelity sold stocks FAR underneath what the price indicated on their market price offered.

  Business Response

  Date: 05/28/2025

  To *************************************************** forwarded Fidelity a complaint filed under the above-referenced case ID.
  
  We contacted our client directly on May 27, 2025, and are currently working on a resolution. We consider this matter closed with the BBB. 
  
  Sincerely,
  
  Fidelity Investments
  

  
  

• Initial Complaint

  Date:05/23/2025

  Type:Service or Repair Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I placed a trade by mistake and sold an option for **** and did not realize that there was very low volume for the it. I paid $480.68 for it and sold it the next day and received $9.47. Obviously, I would not have sold it if I had known that I would take such a loss. There was no warning or indication that the volume was so low that it would have sold for such a low price. In the past, I had trades busted or reversed by Fidelity due to mistakes. When I called and asked to bust the trade, they told me no and did not offer any reason why they could not even though it was clearly a mistake.

  Business Response

  Date: 05/28/2025

  Dear Better Business Bureau: 
  
  Your organization forwarded Fidelity a complaint from ******* *******. We wanted to make you aware we sent an email to the client on May 28, 2025, to address the client's complaint. We consider the matter fully reviewed and resolved.
  
  Sincerely, 
  
  Fidelity Investments 

  Customer Answer

  Date: 05/29/2025

  Better Business Bureau:I have reviewed the response submitted by the business and have determined that the response does not satisfy or resolve my issues and/or concerns in reference to complaint # ********. Please add your rejection comments below; if you do not provide any details, your complaint will be closed as Answered. 

  I responded to Fidelity's email and asked why I never received an error message similar to the one I have attached to this response. It states that Fidelity does not accept market orders for illiquid securities, the option that I sold was illiquid and was placed at market and I never received an error message. Fidelity accepted the order and processed it despite their claim that they do not accept market orders for illiquid securities. 
  
  Businesses and Customers should be civil, courteous and polite in their responses to complaints. It is important to remain professional and productive when participating in the BBB complaint process.
  
  FAQ
  
  Regards,

  *******

   

   

  Business Response

  Date: 06/03/2025

  Dear Better Business Bureau: 
  
  Your organization forwarded Fidelity a rebuttal from ******* *******. We wanted to make you aware that we sent an email to the client on June 3, 2025, to address the client's rebuttal. We consider the matter fully reviewed and resolved. We regret that Mr. ******* is unhappy with our response.
  
  Sincerely, 
  
  Fidelity Investments
  

  
  

• Initial Complaint

  Date:05/22/2025

  Type:Product Issues
  Status:

  ResolvedMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  Fidelity Investments keep mailing and emailing me about money that I don't have access to.Not sure why they keep contacting me about money that is not mine or I don't have legal access to cash it.PLEASE STOP IT !

  Business Response

  Date: 05/25/2025

  To *************************************************** forwarded Fidelity a complaint filed under the above-referenced case ID.
  
  We contacted our client directly on May 23, 2025, and are currently working on a resolution. We consider this matter closed with the BBB. 
  
  Sincerely,
  
  Fidelity Investments

  Customer Answer

  Date: 05/31/2025

  [A default letter is provided here which indicates your acceptance of the business's response.  If you wish, you may update it before sending it.]
  
  Better Business Bureau:
  
  I have reviewed the response submitted by the business and have determined that the response does satisfy my issues and/or concerns in reference to complaint #********. I understand that by choosing to accept the business response that my complaint will be closed as resolved. 
  
  Regards,
  
  ***** ********

• Initial Complaint

  Date:05/21/2025

  Type:Product Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I am a thyroid cancer survivor. As part of my ongoing cancer treatment plan, my thyroid was surgically removed, leaving me entirely dependent on synthetic thyroid hormone replacement to survive and prevent cancer recurrence. This treatment is not *********** maintain my health, I rely on a specific medication, ********, which costs approximately $300 for a 90-day supply. I depend on my Flexible Spending Account (FSA)into which I contribute $266 monthlyto afford it.On May 20, 2025, I attempted to use my FSA debit card, managed by Fidelity NetBenefits, to purchase my next 90-day supply at ************. Despite a balance of $2,124.50, my card was declined. I was completely out of my medication and immediately contacted Fidelity NetBenefits for assistance.After nearly an hour of navigating phone menus and departments, I was informed by a manager, ****** ****, that my access to *** funds was blocked due to a $1.20 denied claima co-pay from my endocrinologists office. I had already submitted multiple receipts to validate this charge, which were inexplicably rejected. I even offered to repay the $1.20 directly to expedite resolution and was told the repayment process was underway. I explicitly asked whether this would impact my ability to use my FSA card and was assured it would not.Despite this assurance, I was denied access to my own funds for a life-sustaining medication. I pleaded for an immediate resolution, but was told I would have to wait at least five business daysa full weekbefore I could access my account. I left the pharmacy empty-handed and remain without the medication that protects me from a recurrence of thyroid cancer.This situation is not only unacceptableit is dangerous. I am requesting immediate access to my *** funds to purchase my medication without further delay. I also urge Fidelity NetBenefits to review and revise its policies to ensure that no other patient is subjected to this kind of harmful obstruction in the future.

  Business Response

  Date: 05/28/2025

  To *************************************************** forwarded Fidelity a complaint filed under the above-referenced case ID.
  
  We contacted our client directly on May 23, 2025, and are currently working on a resolution. We consider this matter closed with the BBB. 
  
  Sincerely,
  
  Fidelity Investments

• Initial Complaint

  Date:05/20/2025

  Type:Service or Repair Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I had called Fidelity investment ask them bout cashing my brother check into my account because he didn't have no id I was informed yes that he had to sign the check over to me which he did. Then I mobile deposit check they told me I had to wait 16 days which I deposit the check on December 13 2024 and that my check will be released December 27th so I called that Thursday December 26 2024 they told me my money would be released the 27th they told me to send in check stub if the check id I did that here it is may 20 2025 still haven't received my money and the back office was very rude and the customer service

  Customer Answer

  Date: 05/31/2025

  I have not heard from the business in response to my complaint. I had called but they still tell me they don't have to speak to on my closed accounn

  Business Response

  Date: 06/03/2025

  Dear Better Business Bureau: 
  
  Your organization forwarded Fidelity a complaint from ******* *****. We wanted to make you aware we emailed the client on May 21, ***** to address the client's complaint. We consider the matter fully reviewed and resolved.
  
  Sincerely, 
  
  Fidelity Investments 

• Initial Complaint

  Date:05/19/2025

  Type:Product Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  Fidelity lost control of my personal data twice in 2 months When i tried to transfer to ******* **** they made me jump through hoops for several weeks I've never been treated **** this in 45 years of trading

  Business Response

  Date: 06/04/2025

  Dear Better Business Bureau:
  
  Your organization forwarded Fidelity a complaint from ******* ******. We sent a letter to the client on May 21, 2025, to address the client's complaint. We consider the matter thoroughly reviewed and resolved.
  
  Sincerely,
  
  Fidelity Investments
  

  
  

• Initial Complaint

  Date:05/19/2025

  Type:Service or Repair Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I have a 401k retirement account from a former employer. I have been requesting this plan to be rolled over to my new employer-sponsored plan with another company. I have made no fewer than FIVE rollover requests with Fidelity- each time spending an hour + on the phone with multiple representatives to complete this rollover. Each time, I receive checks in the mail from my 401k plan for marginal/tiny fractions of the actual amount that is to be rolled over. The actual amount is almost $6000 and I am receiving rollover check for amounts less than $100. At this point I am accumulating small checks that will take me more time to manually roll over to my new plan. But the bigger issue is - why will they not send me my full account value? This is my money and I need to put it into my new account.I have spoken to numerous representatives and nobody can provide any explanation for why this is happening. Each time the only solution is to "try it again." Each time, the result is the same. This is my money and I cannot spend any more time on the phone doing the same thing over and over. I feel like Fidelity is holding my money hostage, intentionally or not, and there isn't any effort into actually solving the problem and getting me my money.

  Business Response

  Date: 05/21/2025

  To *************************************************** forwarded Fidelity a complaint filed under the above-referenced case ID.
  
  We contacted our client directly on May 19, 2025, and are currently working on a resolution. We consider this matter closed with the BBB. We ask the complainant to allow 7-10 business days to receive our response.
  
  Sincerely,
  
  Fidelity Investments
  

  
  

• Initial Complaint

  Date:05/17/2025

  Type:Billing Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I wanted to fund my *** for 2024 before Apr 15 deadline with my Robinhood individual account securities. I have always done a cash transfer but it was a period of extreme volatility due to tariffs and I wanted to avoid selling and buying securities for the first time. I initiated the security transfer process through my fidelity HSA account and through the process I was told that a new fidelity individual account would be created since I was transferring from robinhood individual account and then ********************** will first move the security from robinhood account to ********************** individual account and then to my fidelity HSA account.I was asked and I uploaded robinhood statement and I got the notification on Apr 1st 2024 that my account transfer was completed and it will take 15 days to complete the cost basis. There was no mention of any transfer fees. I noticed that only the transfer to the individual account was completed but they had not been yet moved the securities to my *** account. When I checked the individual account, it said cost basis information was pending. I tried to move the security myself to the *** but was unsuccessful. At this time I was nearing the Apr 15th deadline. On Apr 10th I noticed that the cost basis issues was fixed, I tried again to transfer the security but was unsuccessful. At this time, I sold part of the security in the individual account and then tried to transfer cash. But was again unsuccessful. I then called fidelity, was then told that it will take a day to settle even though I was doing an internal transfer from individual fidelity account to hsa account.Eventually, I sold all the securities in the individual fidelity account, waited a day and transferred them myself to HSA account.I lose about $180 trying to transfer $2000 to fidelity due to fees and transaction.I called Fidelity asking them to reimburse the fee and the costs but they refused to do so.

  Business Response

  Date: 05/21/2025

  Dear Better Business Bureau:
  
  Your organization forwarded Fidelity a complaint from Priya Rawat. We emailed the client on May 20, 2025, to address the client's complaint. We consider the matter thoroughly reviewed and resolved.
  
  Sincerely,
  
  Fidelity Investments

  Customer Answer

  Date: 05/22/2025

  Better Business Bureau:
  I have reviewed the response submitted by the business and have determined that the response does not satisfy or resolve my issues and/or concerns in reference to complaint # 23345251. Please add your rejection comments below; if you do not provide any details, your complaint will be closed as Answered. 

  
  Fidelity never responded to any of my questions. I have also added a sixth question

  1. At what point did the company notify me of the transfer
  fee before, during or after the process or during the 2 phone calls after the
  process.
  2. Why do they not have a disclaimer like every other
  company on transfer fees information
  Since this fiasco, I checked robinhood, lively hsa, webull
  and etrade and found that all of them provide transfer fees information upfront
  before initiating the securities transfer.
  3. I would like to know if this is the first time fidelity
  conducted an asset transfer from robinhood and robinhood or any other company
  has ever charged a fee to fidelity for asset transfers
  4. Why were my securities not transferred to fidelity hsa
  account as per my initial request.
  5. What service did fidelity the company actually provide me
  when I initiated the HSA transfer.

  6.  At what point did the company notify me that the transfer process was not automatic, before, during or after HSA security transfer  request  or during the 2 phone calls after the process.

  Here is their response from Fidelity

  This message is in reference to your Better Business Bureau comments that we received on May 18, 2025.
  
  We regret the dissatisfaction caused by your recent Transfer of Assets (TOA) request. We understand this experience did not meet your expectations, and we assure you that was not our intent.
  
  The appropriate parties reviewed your TOA concerns. The review determined that Fidelity does not charge a TOA fee; however, Robinhood does charge a $100 fee to transfer an account out of their firm.
  
  It is essential to note that the transfer of the assets from your Fidelity Individual account to your Health Savings Account (HSA) was not automatic. You would have needed to call us to transfer the received assets to your HSA. We regret the frustration caused by these determinations.
  
  As our review determined no Fidelity error, we cannot compensate you for the fees you incurred or the delays you experienced with the TOA process. We recommend contacting Robinhood directly to request reimbursement for the cost incurred.
  
  Please call us at 800-544-6666 with further account needs. For your convenience, representatives are available 24 hours a day, 7 days a week.
  
  **. ****, thank you for bringing your concerns to our attention. We appreciate your trust in us at Fidelity.

  
  Sincerely,
  
  J* P.
  Fidelity Investments
  
  W355554-19MAY25
  
  Brokerage services are provided through Fidelity Brokerage Services LLC, Member NYSE and SIPC. Investment advisory services are provided through Strategic Advisers LLC, both Fidelity Investments companies.

  
  
  
  Businesses and Customers should be civil, courteous and polite in their responses to complaints. It is important to remain professional and productive when participating in the BBB complaint process.
  
  
  
  
  FAQ
  
   

  
  

  
  
  

   

  
  

   

  Business Response

  Date: 05/29/2025

  Dear Better Business Bureau:
  
  Your organization forwarded Fidelity a complaint from Priya Rawat. We emailed the client on May 29, 2025, to address the client's complaint. We consider the matter thoroughly reviewed and resolved.
  
  Sincerely,
  
  Fidelity Investments

  Customer Answer

  Date: 06/03/2025

  Better Business Bureau:
  I have reviewed the response submitted by the business and have determined that the response does not satisfy or resolve my issues and/or concerns in reference to complaint # 23345251.

  Here is my response to Fidelity’s

  Question No 1 - At what point did the company notify
  me of the transfer fee before, during or after the process or during the 2
  phone calls after the process
  Fidelity Response - Regarding your first question,
  Robinhood charged the TOA fee and not Fidelity. It is essential to note that it
  is the client's responsibility, not Fidelity's, to research any potential fees
  charged by outside firms. As such, we could not determine an interaction
  regarding the discussion of fees charged by outside firms.
  MY RESPONSE
  So Fidelity acknowledges that at no point did Fidelity
  directly notify me of the transfer fee before, during or after the process or
  during the 2 phone calls after the process.
  Even in the monthly account statement, the TOA fee is listed
  as a withdrawal with no mention of it as a TOA transfer fee to Robinhood.
  Shouldn't Fidelity have the responsibility of informing the
  HSA customer of TOA fees who like me is likely doing this type of transaction
  for the first time in their life vs Fidelity that is doing HOA transfers
  hundreds or perhaps thousands of times a month.
  ----------
  Question No 2 - Why do they not have a disclaimer
  like every other company on transfer fees information

  Fidelity Response - For your second question, we
  confirm that clients are informed that an outside firm may charge a fee to
  transfer assets to us. This information is provided in the TOA “Frequently
  Asked Questions (FAQ)” section on Fidelity.com and section four of the physical
  TOA form. You may view this language on our website by pasting the following
  Web address into your preferred Web browser and selecting the green arrow under
  the section “Taxes and Fees”: https://www.fidelity.com/customer-service/transfer-assets
  
  MY RESPONSE
  You never answered the question about why there is no
  Fidelity TOA Fees disclaimer on HSA TOA transfer page.
  Here is the disclaimer that shows up at other companies’
  sites that the customer HAS TO ACCEPT before proceeding with the TOA
  transaction
  
  LIVELY HSA TOA disclaimer [ Direct Competitor to Fidelity
  HSA Product ]
  - Lively will never charge fees, but your provider might!
  Check with your provider to see if you’ll have to pay a transfer fee.
  Webull Brokerage TOA Disclaimer [Provides TOA Service for
  Non-HSA Accounts like Cash, IRA Etc but does not have HSA product]
  - I acknowledge that my delivering broker may charge me
  $75 or more for transferring out, the specific amount varies by broker. Webull
  does not support account transfers of assets below $500.
  
  Burying TOA fees information on some random section of your
  company website and not being clear and explicit about it is what I would
  consider Fidelity purposefully misleading the customer - making transfer fee a
  surprise fee
  -----
  QUESTION 3 -  I
  would like to know if this is the first time fidelity conducted an asset
  transfer from Robinhood and Robinhood or any other company has ever charged a
  fee to fidelity for asset transfers
  Fidelity Response - About your third question, we
  confirm that this is not the first time performing a TOA from Robinhood or any
  other company. Fidelity is not responsible for tracking any fees that a contra
  firm may charge to conduct a TOA.
  MY RESPONSE
  So you are confirming that your customer service agent LIED
  when she said Fidelity was NOT AWARE that Robinhood charges a TOA fees.
  
  Question 4 & 6 - Why were my securities not
  transferred to fidelity hsa account as per my initial request.
  
  ----
  
  Fidelity’s Response
  Regarding your fourth question, your assets were held in an
  Individual account at Robinhood. A Health Savings Account (HSA) is a different
  account registration type, and a TOA is a non-taxable and non-reportable
  transfer, so the assets could not automatically transfer directly to your
  Fidelity HSA.
  To answer your sixth question, it is essential to note that
  a TOA is not an automatic process. As such, an associate would have had to be
  assigned to monitor the TOA process, and once the assets were received into the
  Individual account, they would be journaled over to the HSA.
  
  
  MY RESPONSE
  To Q4 - My question is why were my assets never transferred
  from Fidelity individual account to Fidelity HSA
   To Q6 - So you
  acknowledge that at no point before during or after the transaction or during
  the 2 phone calls Fidelity informed me that an associate needs to be assigned
  to transfer the assets from individual to HSA account
  Why didn't Fidelity assigned an associate to transfer the
  assets from Fidelity individual account to HSA Account.
  ------
  Question 5. What service did fidelity the company
  actually provide me when I initiated the HSA transfer
  Fidelity’s Response
  For your fifth question, Fidelity submitted the appropriate
  paperwork to Robinhood to process your TOA request.
  MY RESPONSE
  I am baffled by this response. This is like going to the
  doctor for surgery on the right hand and the doctor performing a surgery of the
  left leg.
  Not only Fidelity didn’t do what
  I asked for and but Fidelity inflicted additional harm. I would have been
  better off not having the done the transaction at all.

  --------
  Here are the reasons why Fidelity is responsible for the
  cost dues to transfer fees and delays
  -Not being clear and explicit about transfer fees
  -Never giving me an option to backout of the transaction due to transfer fees,
  -Never informing me that transfer fees were charged
  -Not having a clear process to transfer assets from Fidelity individual to Fidelity HSA
  -Not informing me of the process to to transfer assets from Fidelity individual to Fidelity HSA
  -Customer service lying that Fidelity does not know that Robinhood charges transfer fees
  -Not having the product feature to move cash from individual account to fidelity HSA  account immediately

  
  ------ Fidelity's Reponse Copied Below ------------------------
  Dear *****
  
  This message is in reference to your Better Business Bureau comments that we
  received on May 27, 2025.
  
  Once again, we regret the dissatisfaction caused by your recent Transfer of
  Assets (TOA) request.
  
  Regarding your first question, Robinhood charged the TOA fee and not Fidelity.
  It is essential to note that it is the client's responsibility, not Fidelity's,
  to research any potential fees charged by outside firms. As such, we could not
  determine an interaction regarding the discussion of fees charged by outside
  firms.
  
  For your second question, we confirm that clients are informed that an outside
  firm may charge a fee to transfer assets to us. This information is provided in
  the TOA “Frequently Asked Questions (FAQ)” section on Fidelity.com and section
  four of the physical TOA form. You may view this language on our website by
  pasting the following Web address into your preferred Web browser and selecting
  the green arrow under the section “Taxes and Fees”:
  
  https://www.fidelity.com/customer-service/transfer-assets
  
  About your third question, we confirm that this is not the first time
  performing a TOA from Robinhood or any other company. Fidelity is not
  responsible for tracking any fees that a contra firm may charge to conduct a
  TOA.
  
  Regarding your fourth question, your assets were held in an Individual account
  at Robinhood. A Health Savings Account (HSA) is a different account
  registration type, and a TOA is a non-taxable and non-reportable transfer, so
  the assets could not automatically transfer directly to your Fidelity HSA.
  
  For your fifth question, Fidelity submitted the appropriate paperwork to
  Robinhood to process your TOA request.
  
  To answer your sixth question, it is essential to note that a TOA is not an
  automatic process. As such, an associate would have had to be assigned to
  monitor the TOA process, and once the assets were received into the Individual
  account, they would be journaled over to the HSA.
  
  As our additional review determined no Fidelity error, we cannot compensate you
  for the fees you incurred or the delays you experienced with the TOA process.
  We recommend contacting Robinhood directly to request reimbursement for any
  costs incurred.
  
  Mx. XXXX thank you for bringing your concerns to our attention. We appreciate
  the trust you place in us at Fidelity.
  
  Sincerely,
  
  xxxxx X
  Fidelity Investments
  
  W549669-27MAY25
  
  Brokerage services are provided through Fidelity Brokerage Services LLC, Member
  NYSE and SIPC. Investment advisory services are provided through Strategic
  Advisers LLC, both Fidelity Investments companies.
  
  Regards,

  Priya

  
  

  
  
  

   

  
  

   

  Business Response

  Date: 06/17/2025

  Dear Better Business Bureau:
  
  Your organization forwarded Fidelity a complaint from Priya Rawat. We emailed the client on June 17, 2025, to address the client's complaint. We consider the matter thoroughly reviewed and resolved. We regret that Ms. Rawat is unhappy with our response.
  
  Sincerely,
  
  Fidelity Investments

  Customer Answer

  Date: 06/19/2025

  Better Business Bureau:
  I have reviewed the response submitted by the business and have determined that the response does not satisfy or resolve my issues and/or concerns in reference to complaint # 23345251. Please add your rejection comments below; if you do not provide any details, your complaint will be closed as Answered. 

  Fidelity did not respond to any of my questions.  I did not sign any TOA form. It was an online request.

  Here is Fidelity's Response

  Dear*****
  
  This message is in reference to your Better Business Bureau comments that we received on June 17, 2025.
  
  We regret the frustration caused by your recent Transfer of Assets (TOA) request.
  
  As I mentioned in my May 29, 2025, response, your TOA request involved transferring an Individual account at Robinhood to an Individual account at Fidelity. As such, the TOA “Frequently Asked Questions (FAQ)” section on Fidelity.com is the appropriate resource for information related to a fee disclosure for contra firms.
  
  It is essential to note that section four of the TOA form you signed and submitted to Fidelity addressed the possibility that an outside firm could charge a fee.
  
  Fidelity’s actions were conducted appropriately. As such, we cannot compensate you for the fees you incurred or the delays you experienced with the TOA process.
  
  Your feedback regarding our Health Savings Account (HSA) TOA page has been forwarded to the appropriate parties for review. We take your feedback very seriously, and we assure you it will be considered as we continue improving the customer experience.
  
  ***. ****, thank you for bringing your additional concerns to our attention. We consider this matter closed and will not be responding further.
  
  Sincerely,
  
  J*** P.
  Fidelity Investments
  
  W962881-17JUN25
  
  Brokerage services are provided through Fidelity Brokerage Services LLC, Member NYSE and SIPC. Investment advisory services are provided through Strategic Advisers LLC, both Fidelity Investments companies.
  Reply
  
  
  
  Businesses and Customers should be civil, courteous and polite in their responses to complaints. It is important to remain professional and productive when participating in the BBB complaint process.
  
  
  
  
  FAQ
  
  
  
  Regards,
  

  Priya