cleanmug said:craig10x said:Note: If you like to be able to check your balance at an atm (aside from making an actual withdrawal) you won't like Fidelity's card as you will not be able to do a Balance Inquiry
With the Schwab Card, you WILL be able to check your Balance....

Will Fidelity and Schwab refund fees incurred for checking your balance at an ATM (or, in Fidelity's case, attempting to check your balance and get a $0 response)?

Neither will cover a fee imposed for a balance inquiry.....however, the majority of atms in this country do not charge a fee when you just check your Balance or do a Transfer between your Checking and Savings accounts...They will only charge you for an actual withdrawal....one that will charge for those seem to be pretty rare.....and actually, it would likely say it right on the atm......

Also..if an atm was going to charge you a fee..it has to warn you before you give the final ok to go ahead and do what you requested....so , if you don't see a warning screen appear....then you are ok!

I've used many atms at many different banks, and atms at all kind of storefront locations and have never once gotten charged a fee unless it was for an actual withdrawal.........

cleanmug said:craig10x said:I've used many atms at many different banks, and atms at all kind of storefront locations and have never once gotten charged a fee unless it was for an actual withdrawal.........

I'm surprised that a financially-savvy guy as yourself uses so much cash! I make ATM withdrawals once every eight weeks, max.

actually i make much less then i use to in the past...but more then you do...perhaps an average of 4 to 6 times per month at the most......and they are usually for small amounts...like when i forgot to take some cash with me.....
mostly i use my credit card or debit card for the majority of purchases....

BetterInfo said:I read many pages of this thread but could not find something (sorry , if it was covered).

I Plan to open a SCA (no brokerage a/c OR no MoneyMarket ) and turn the overdraft protection on and link it to the Redneck 5.25 yeild checking account. I plan to keep minimum in my SCA a/c. Also, I plan to ATM and draw checks against the MCA account. My understanding is that money will be autimatically pulled from redneck ( I think redneck limits it to 1500 per day) and everything will be fine.

(One of the reasons I thought about a SCA a/c is that I want to open a 2% CashBack Fidelity credit card and want to have an account to direct the cashbacks to. I do not have any biz.relation with fidelity except my 401K. )

does it work ? Is there anything I am dead wrng ? any better options ?

I'm fairly certain the overdraft protection must come from a Fidelity account. But if all you want is the 2% CashBack card, you don't have to actually use the debit card at all and wont need overdraft protection.

pyro123 said:Two auto payments (utilites companies) didnt went thru. I called Fidelity but since the drafts were initiated from the utilites they cant track it and wont reimburse the late fees. There was enough funds available in my brokerage to be swept from.That's just awful.

When that sort of thing happened to me, they promised to reimburse me for any fees imposed by the pullers (but there weren't any in my case). They were required under the terms they wrote to cover those drafts; you should sue them if necessary.

Under UCC sec. 4-402(a), a bank is liable for damages, including consequential damages, caused by a wrongful dishonor, explicitly including overdrafts that it has agreed to cover, which is the situation here. I don't know whether it's United Missouri Bank, Fifth Third or Fidelity that's liable to you here, but one of them is. I wouldn't let this go if I were you.

LH2004 said:That's just awful.

Scary, too. My sympathy is with the OP, that can't be fun.

I have a Fidelity brokerage acct and use the core (FTEXX) like a mysmartcash acct. It's my primary acct for paying bills, getting cash, etc. I have never had the courage to actually move all my cash to FSLXX and let Fidelity redeem it as needed to cover my withdrawals.

Even if Fidelity covered all fees from an error, it would be a royal PITA. Lots of time on the phone, flagged on credit reports as late payer by credit card and utility companies, etc. And if Fidelity reacted as they did to OP, it would be much worse.

After reading this story, I'll play it safe and keep a cushion of cash in core and forego a few dollars in interest.

OP, let us know if/when this is resolved.

if your account has margin, fidelity is doing the right thing. If you don't have have margin, they will sell flsxx to cover the overdraft.

I found a fraudulent transaction in my mySmart Cash account this morning. It was a $6.00 debit transaction from Air Canada. I haven't used the card for months, and have never purchased anything from AC...

When I called the bankcard center to report the fraud, they indicated that I would receive an affidavit within a week. They will only issue a provisional credit after they get the signed copy back from me.

This obviously isn't a big deal--it is only $6.00 on an account I never use. But I was still surprised that they didn't immediately provide a provisional credit... This would be a real issue if the amount had been larger. Has anyone else experienced similar treatment at the hands of Fidelity?