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Complaint Details
Note that complaint text that is displayed might not represent all complaints filed with BBB. See details.
Initial Complaint
11/02/2021
- Complaint Type:
- Service or Repair Issues
- Status:
- Answered
My individual investment account ending in numbers **** shows a balance of "available to trade without impacting margin" amount of $1.92. However it will not let me purchase stocks or fractional shares using this amount. Repeatedly it is not recognizing or allowing me to trade utilizing these funds. I have spent hours on the phone trying to resolve this with your phone team. They opened tickets back on 9/11/2021 to escalate this issue to a supervisor. I have yet to hear back. Please advise in writing how I can utilize these funds to trade? If the error cannot be resolved internally bc of this "software error" and/or employee incompentence; then please issue a paper check for the $1.92. I cannot speak on the phone anymore due to covid and delta disabilties. Please respond in writing with a resolve. This and having a paper hard copy response printed and mailed to me greatly assists in my current disabilities. Thank you.
Business response
11/08/2021
Dear Better Business Bureau:
Your organization forwarded Fidelity a complaint from *********************. We wanted to make you aware we emailed the client on November 5, 2021 to address the client's complaint. We consider the matter fully reviewed and resolved
Sincerely,
Fidelity InvestmentsInitial Complaint
10/31/2021
- Complaint Type:
- Product Issues
- Status:
- Answered
Please forward this letter to the CEO of Fidelity and file this complaint with the SEC, FINRA and other regulators of Fidelity. Because of Fidelity system glitch, I lost $122K and suffer enormous emotional distress and the experience has taken a heavy toll on my mental and emotional health and my physical health. From July 16, 2021 to July 19, 2021, I checked my Fidelity account and 90% of my cash was locked up and was not available for withdrawal. I panicked. I called Fidelity representatives on July 19, I was told that they could not find any reason that my cash was locked up and confiscated and it was probably due to system glitch. I thought I lost 90% of my cash because of Fidelity so I panicked and I closed two trades related to LRCX puts and I took a $37K loss plus I lost the premiums of $85K that I collected. Afterwards, when I talked to Fidelity representatives, I was told that I had met all the margin requirements and they could not find any reason that my cash was locked up. The next several days, my trades proved to be very successful if I had not been forced to close the two trades on July 19 because of Fidelity’s system glitch. This incident has taken a severe toll on my mental, emotional and physical health. Due to Fidelity’s system glitch, I suffer a devastating financial loss and suffer severe distress. Please refund me the $122K I have lost. Thank you!Business response
11/03/2021
Dear Better Business Bureau:
Your organization forwarded Fidelity a complaint from ***********************. We wanted to make you aware we emailed the client on November 2, 2021, to address the client's complaint. We consider the matter fully reviewed and resolved.
Sincerely,
Fidelity InvestmentsCustomer response
11/09/2021
Hello,
I called your customer ******************** and I was told it was a system glitch and they could not find any reason my cash was locked up and confiscated. After I closed the positions, my cash was still locked up and confiscated. I called your customer ******************** and they could not find any reason other than the system glitch. So please refund my loss.
Thank you
Chunling
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.
[You must provide details of why you are not satisfied with this resolution. If you do not enter a reason for your rejection, your complaint will be closed as Answered.]
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,Chunling
Business response
11/10/2021
Dear Better Business Bureau:
Your organization forwarded Fidelity rebuttal comments from ***********************. We wanted to make you aware we emailed ********** on November 10, 2021, to address her additional comments. We consider the matter fully reviewed and resolved and regret that she is unhappy with our response.
Sincerely,
Fidelity InvestmentsCustomer response
11/10/2021
Hello
I do not agree that it is resolved. After I closed the positions, my cash was still locked up and confiscated. And there is no reason for this to happen whatsoever.
Please refund my loss.
Thank you
Chunling
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.
[You must provide details of why you are not satisfied with this resolution. If you do not enter a reason for your rejection, your complaint will be closed as Answered.]
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,Chunling
Initial Complaint
10/29/2021
- Complaint Type:
- Service or Repair Issues
- Status:
- Answered
I was employed at a company that laid off alot of people due to covid. I found another job that I intend to stay at. I went to move my 401k to the new company. I talked to a customer service agent a few weeks ago and he told me i needed to find out if my new 401k accepted pretax rollover and who to make the check out to. i called out new 401k plan and they did accept that and gave me all the info i needed to start the process. When I called Fidelity back they stated that we can not touch the 401k until I am 55 or older. I am only 33 and that will be 20 plus years. I asked for his manager. Then he read a statement that his manager instructed him to read stating that the Employer made the change and is restricting me from moving my 401k until I'm 55 and older. This does not seem like it is legal to do. I worked for this company for years and now i can't move money that i paid in over the years. The company that was my employer is Starcon/Cianbro.Business response
11/02/2021
To Whom It *** ********************************* forwarded Fidelity a complaint filed under the above referenced case ID.
We contacted our client directly on November 2, 2021, and are currently working on a resolution. We consider this matter closed with the BBB.
Sincerely,
Fidelity InvestmentsInitial Complaint
10/29/2021
- Complaint Type:
- Product Issues
- Status:
- Answered
I requested a full distribution from my Supplemental Savings Plan on January 12, 2021, but a residual balance on $6.14 was left in the account. After multiple calls to Fidelity, no progress has been made distributing that residual balance.Business response
11/09/2021
To Whom It *** ********************************* forwarded Fidelity a complaint filed under the above referenced case ID.
We contacted our client directly on November 8, 2021, and are currently working on a resolution. We consider this matter closed with the BBB.
Sincerely,
Fidelity InvestmentsCustomer response
11/09/2021
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.
[You must provide details of why you are not satisfied with this resolution. If you do not enter a reason for your rejection, your complaint will be closed as Answered.]
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,****
Fidelity contacted me but didn't resolve the issue. They still haven't distributed the residual funds.
Business response
11/10/2021
To Whom It *** ********************************* forwarded Fidelity a complaint filed under the above referenced case ID.
We have been in contact with our client, and are currently working on a resolution. We consider this matter closed with the BBB.
Sincerely,
Fidelity InvestmentsCustomer response
11/10/2021
They still have not distributed the residual funds. They closed the ticket without resolving the issue.
Business response
11/17/2021
To Whom It *** ********************************* forwarded Fidelity a complaint filed under the above referenced case ID.
We have been in contact with our client, and are currently working on a resolution. We consider this matter closed with the BBB.
Sincerely,
Fidelity InvestmentsCustomer response
11/18/2021
Hello,
I would like to keep this complaint open until Fidelity actually pays out the residual funds.
Regards,****
Initial Complaint
10/29/2021
- Complaint Type:
- Service or Repair Issues
- Status:
- Answered
I deposited 70,000 into my account and tried to make trades and which were repeatedly rejected, the stocks I wanted to buy then increased in value and cost me over 5000$ in potential gains, I want to be compensated or im filing a lawsuit.Business response
11/05/2021
Dear Better Business Bureau:
Your organization forwarded Fidelity a complaint from **********************************. We wanted to make you aware we emailed the client on November 4, 2021, to address the client's complaint. We consider the matter fully reviewed and resolved.
Sincerely,
Fidelity InvestmentsCustomer response
11/09/2021
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.
[You must provide details of why you are not satisfied with this resolution. If you do not enter a reason for your rejection, your complaint will be closed as Answered.]
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,******
Initial Complaint
10/27/2021
- Complaint Type:
- Order Issues
- Status:
- Answered
I've submitted multiple requests for a Hardship Withdrawal for dental work. There is always an excuse as to why they won't approve the paperwork. The last excuse was the date I signed was hard to read. It's from a **** account; so, I don't know why they are being so difficult. It's been 13 days since I initiated the withdrawal request.Business response
10/29/2021
Dear Better Business Bureau:
Your organization forwarded Fidelity a complaint from ***********************. We wanted to make you aware we sent the client an email on October 29, 2021, to address the client's complaint. We consider the matter fully reviewed and resolved.
Sincerely,
Fidelity InvestmentsCustomer response
11/01/2021
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.
A Fidelity executive hasn't reviewed my email and claimed that my issued involved a loan. I took out a hardship withdrawal for a dental procedure.
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
11/03/2021
Dear Better Business Bureau:
Your organization forwarded Fidelity a complaint from ***********************. We wanted to make you aware we emailed the client on November 2, *****, to address the client's complaint. We consider the matter fully reviewed and resolved.
Sincerely,
Fidelity InvestmentsInitial Complaint
10/26/2021
- Complaint Type:
- Product Issues
- Status:
- Answered
I transferred money from my ***** Fargo checking account to my investment acct, which later fidelity decided to restrict and close, after doing so they are refusing to send the money in my acct back to which it came from. Ive been speaking with reps for a month now and they have finally told me they will not be releasing the money back to the acct which the money came from. At this point I am very frustrated and lost not knowing how to recover my funds.Business response
10/29/2021
Dear Better Business Bureau:
Your organization forwarded Fidelity a complaint from ***************************. We wanted to make you aware we emailed the client on October 28, 2021, to address the client's complaint. We consider the matter fully reviewed and resolved.
Sincerely,
Fidelity InvestmentsCustomer response
11/02/2021
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.
[You must provide details of why you are not satisfied with this resolution. If you do not enter a reason for your rejection, your complaint will be closed as Answere
i am not satisfied because a the funds that are stuck in the fidelity acct has not been issued back to the acct which the money came from, I would like to see proof that this has happened and from the point when my funds has been returned that is when Ill consider my problem solved.
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
11/08/2021
Dear Better Business Bureau:
Your organization forwarded Fidelity a complaint from ***************************. We wanted to make you aware we emailed the client on October 28, 2021, to address the client's complaint. We consider the matter fully reviewed and resolved. We regret ****** is unhappy with our response.
Sincerely,
Fidelity InvestmentsInitial Complaint
10/25/2021
- Complaint Type:
- Billing Issues
- Status:
- Answered
On 9/30/21 an arrangement was made with Fidelity Investments to debit ****** from my checking account.Instead, $309.36 was debited prompting a double payment and resulting in Non Sufficient Funds and pending debits that haven't cleared. I've talked to several representatives trying to escalate this issue because it's causing financial hardship among other inconveniences. I haven't been asked to provide supporting documents which seem odd to me. Four weeks have passed and still no resolution. I hope reaching out to the BBB will escalate and resolve this issue.Business response
10/26/2021
Dear Better Business Bureau:
Your organization forwarded Fidelity the above complaint from *****************************. After review, this complaint appears to be related to case ID #********. We wanted to make you aware we emailed the client on October 13, 2021, and are currently working on a resolution. We consider the matter fully resolved with the BBB.
Sincerely,
Fidelity InvestmentsInitial Complaint
10/24/2021
- Complaint Type:
- Service or Repair Issues
- Status:
- Answered
On Oct 12, 2021, Fidelity transferred stock holdings in-kind to another investment firm. The other investment firm refused one of the stock holdings with FMV of $3895. Fidelity failed to return this holding to my account when it was rejected by the other firm. They are refusing to explain where the stock holding is and to return it to me.Business response
10/27/2021
Dear Better Business Bureau:
Your organization forwarded Fidelity a complaint from *******************************. We wanted to make you aware we spoke to the client on October 25, 2021, to address the client's complaint. We consider the matter fully reviewed and resolved.
Sincerely,
Fidelity InvestmentsInitial Complaint
10/22/2021
- Complaint Type:
- Sales and Advertising Issues
- Status:
- Answered
I put in a stop loss at 14 dollars a share and for Phun and they sold it at 8 dollars a share when it was ***** a share at the time. They put it in the dark pool and picked the cash.Business response
10/25/2021
To Whom It *** ********************************* forwarded Fidelity a complaint filed under the above referenced case ID.
We contacted our client directly on October 25, 2021, and are currently working on a resolution. We consider this matter closed with the BBB.
Sincerely,
Fidelity InvestmentsCustomer response
11/09/2021
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 never got a refund.
Business response
11/10/2021
To Whom It *** ********************************* forwarded Fidelity a complaint filed under the above referenced case ID.
We contacted our client directly on November 10, 2021, and are currently working on a resolution. We consider this matter closed with the BBB.
Sincerely,
Fidelity Investments
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