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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
09/16/2024
- Complaint Type:
- Service or Repair Issues
- Status:
- Answered
Upon opening an account with **********************, I setup to have funds deposited from my paycheck and have a debit card issued to me. Once I received my debit card and tried to use it for my first purchase, it declined. Funds in the account were more than enough to cover the purchase. Account was then locked without notification. I called the customer service number for assistance on situation, and they stated possible fraud. I told them it was my first purchase and I used it. They "opened" a case for me and stated it was a known issue going on with debit card transactions. They also stated someone should be calling me back. All my funds have been frozen and I am not able to transfer, withdraw, or use my debit card still. It has been 10 days and counting. I called again to seek assistance and agent stated I had to wait until they called me to get this issue fixed and there is nothing they could do. I asked if I could close my account and they stated not until the restrictions are removed which could be another week or so. I asked if I had $10K in my account would I not have access to that during this and they said yes. Basically any money I have in this account is being held hostage from me for no fault of my own since I cannot do anything with it until they decide to call me back. I did nothing wrong and was never notfied or called about anything for possible fraud to clarify the issue. The company just froze my money.
Business response
09/23/2024
Dear Better Business Bureau:
Your organization forwarded Fidelity a complaint from ******** ******. We wanted to make you aware we emailed the client on September 19, 2024, to address the client's complaint. We consider the matter fully reviewed and resolved.
Sincerely,
Fidelity InvestmentsInitial Complaint
09/16/2024
- Complaint Type:
- Product Issues
- Status:
- Answered
I am filing a complaint regarding Fidelity Investments for the sudden and unjustified closure of my account, which has caused significant financial hardship. I deposited a $6,723.17 settlement check from ***** into my Fidelity account. After waiting for the check to clear, I attempted to use the funds to purchase a car, but Fidelity abruptly closed my account without any prior notice or explanation.I received no emails, phone calls, or any form of communication about the closure. When I reached out to Fidelity customer service, I was given no clear explanation or resolution. As a result, I have been unable to access my funds, causing delays in my car purchase and creating an unnecessary financial burden.I am seeking a resolution that includes a clear explanation for the account closure, the prompt release of my funds, and compensation for the financial distress caused by this issue.Business response
09/17/2024
To *************************************************** forwarded Fidelity a complaint filed under the above referenced case ID.
We contacted our client directly on September 16, 2024, and are currently working on a resolution. We consider this matter closed with the BBB.
Sincerely,
Fidelity InvestmentsInitial Complaint
09/14/2024
- Complaint Type:
- Billing Issues
- Status:
- Answered
I am writing to formally file a complaint against Fidelity Bank regarding the withholding of two deposits from ******, in the amounts of $99.00 and $149.00, which were available on Thursday, September 12, 2024, and Friday, September 13, 2024, respectively. Despite this, I have been denied access to these funds due to actions taken by Fidelity without proper explanation.On September 12, 2024, I spoke with a supervisor who made an effort to allow me to withdraw the funds, but the attempt was unsuccessful. I was told that I would have to wait until I spoke to the fraud team because Fidelity had reversed a dispute. At that point, Fidelity blocked my access to my account and login information entirely. I was also informed by the supervisor that I should change my routing information to ensure no further deposits would enter my Fidelity account, which made sense at the time.However, when I contacted Fidelity again to confirm my account and routing numbers, the employee I spoke with refused to provide the information. This representative, in an accusatory tone, told me I was not allowed to access any of my information due to "fraudulent activity." I explained that I had already spoken to a member of the management team and requested to speak to another supervisor, but the employee refused, keeping me on hold for 15 minutes. When he returned, he simply repeated that I was not allowed to "touch the money until my account was cleared."After an extended period of back-and-forth, the employee finally provided the account information I requested but continued to insist that my funds were unavailable. I was told I would have to wait 7 to 10 business days and that a supervisor would simply repeat what he had said.Business response
09/23/2024
To ********************************************* forwarded Fidelity a complaint filed under the above referenced case ID.
We spoke with the client directly on September 21, 2024, and are currently working on a resolution. We consider this matter closed with the BBB.
Sincerely,
Fidelity InvestmentsInitial Complaint
09/13/2024
- Complaint Type:
- Service or Repair Issues
- Status:
- Answered
I have been trying for the last two months to surrender my mothers 401(K) through Fidelity. They keep refusing to acknowledge the Power of Attorney paperwork that I have submitted to them multiple times along with the surrender request and a voided check to send the funds to my mothers bank account. They are telling me the *** was not dated (see page1 of the document) and that the notary didnt sign, date, or put the raised seal on the document (see page 10 of the document). They should be able to read through the entire document without me having to tell them where the information is.Every time I call I get a run around that they say cant see notes and history of what I Ive tried to do and what theyve told me to do.Ive called multiple times in July and was given the incorrect fax number the first time. They also told me the first time I called that it would take 3-5 days to review the *** paperwork.I called 3 days later and was given another fax number and was told at that time the service time would be 3-5 WEEKS! I called again in August and they told me they needed to talk to my mother to initiate the transactions. I had to contact my sister who lives in the same town as our mother and she called with mom and they talked to two representatives and my sister was told at that time to have me resend the paperwork in and it wouldnt be an issue to get the policy surrendered. I did and I am right back at square one with them not being able to accurately read the *** paperwork and being told they cant read the notes from previous points of contact.I have asked to talk to either a supervisor or the compliant department and was told that I couldnt do that. Why is that??I have $17,000 in bills between the nursing home and medical bills that I CAN NOT pay without this money.Fidelity should be ashamed of their service standards and lack of basic understanding of the products.Business response
09/18/2024
Dear Better Business Bureau:
Your organization forwarded Fidelity a complaint filed under the above-referenced case ID.
We contacted our client directly on September 17, 2024, and are working on a resolution. We consider this matter closed with the BBB.
Sincerely,
Fidelity InvestmentsInitial Complaint
09/13/2024
- Complaint Type:
- Sales and Advertising Issues
- Status:
- Resolved
Following advice from a Fidelity financial advisor, I moved my savings to a Fidelity interest earning cash account and became a victim of online identity theft and fraud on Friday 8/23/24. Fidelity did not notify me that one of their clients had created a joint account with me without my consent. I notified Fidelity immediately when I saw that two fraudulent online transfers had been initiated from my individual cash account to this joint account totaling $13,700, but Fidelity still did not stop the transactions from going through 2 days later (Monday 8/26). My account is covered through Fidelitys Customer Protection Guarantee but ********************** has not reimbursed me for losses from unauthorized activity of my covered account through no fault of my own. I reported the identity theft and fraud to the police, but Fidelity stated that they will no cooperate with the police unless they receive a subpoena. Furthermore, Fidelity blocked me from viewing my own accounts and demanded that I grant a third-party power of attorney over them even though I do not have any conditions that impact my ability to make financial decisions.Business response
09/17/2024
Dear Better Business Bureau:
Your organization forwarded Fidelity a complaint from *** **********. We wanted to make you aware we emailed the client on September 16, 2024, to address the client's complaint. We consider the matter fully reviewed and resolved.
Sincerely,
Fidelity InvestmentsCustomer response
09/17/2024
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 wrote a detailed response to Fidelity explaining why their letter DID NOt resolve the issue and sent it to them via email this morning. I also attached a copy of my response to the determination that Fidelity DID NOT resolve the issue on the ** website. I am puzzled that Fidelity would send a letter to you claiming the issue was resolved when it clearly was not. I am also attaching a copy of this letter here.
Business response
09/19/2024
Dear Better Business Bureau:
Your organization forwarded Fidelity a complaint from *** **********. We wanted to make you aware we emailed the client on September 18, 2024, to address the client's complaint. We consider the matter fully reviewed and resolved. We regret that Ms. ********** is unhappy with our response.
Sincerely,
Fidelity InvestmentsCustomer response
09/23/2024
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.
-Fidelity did not remove the requirement that I grant power of attorney to a third party over my accounts even though I sent them notes from two physicians who confirm that I am full able to make my own financial decisions. .
-Fidelity did not add any of the security measures I requested to my Fidelity accounts.Until Fidelity resolves these issues, my complaint will not be considered answered.
*** Mariella ************************** 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
09/13/2024
- Complaint Type:
- Product Issues
- Status:
- Answered
I am writing to file a formal complaint against Fidelity Investments regarding the mishandling of my account, poor communication, and lack of customer support.On 9/13/2024, ********************** locked access to $650,000 of my funds due to an internal error. I was informed of this issue via an email sent at 4 AM, which immediately caused undue stress and anxiety. I attempted to contact customer support to resolve the matter and was placed on hold for over two hours, further exacerbating the situation.Despite being reassured that this issue was an error on their part, Fidelity did not release the funds for 24 hours, leaving me in financial uncertainty. Furthermore, when I requested written confirmation or explanation of what exactly had occurred, they refused to provide any documentation, stating that it was a mistake.This experience has been deeply frustrating and stressful, and Fidelitys lack of transparency and customer care is unacceptable, especially given the significant amount of money involved. I am seeking an official response and written confirmation of the issue that occurred, as well as an assurance that this will not happen again in the future and compensation for my time and the undue stress caused to **** trust that the BBB can assist in ensuring Fidelity Investments takes accountability for their actions and improves their customer service in such serious matters and have reached out to them already.Business response
09/17/2024
Dear Better Business Bureau:
Your organization forwarded Fidelity a complaint from ******* **************. We wanted to make you aware that we emailed the client on September 16, 2024, to address the client's complaint. We consider the matter fully reviewed and resolved.
Sincerely,
Fidelity InvestmentsCustomer response
09/17/2024
Hello, thank you. Fidelity did email me; however, they did not state the reason that my account was restricted. They have to have reasonable suspicion of wrongdoing, but there have been no significant changes in my account in the past few months. Can you please ask that the reason that my account was restricted? When I talked to ****** ******* on the phone, he stated it may have been a mistake.Business response
09/24/2024
To Whom It May Concern:
Your organization forwarded Fidelity a complaint filed under the above-referenced case ID.
We contacted our client directly on September 16, 2024, and are currently working on a resolution. We consider this matter closed with the BBB.
Sincerely,
Fidelity InvestmentsCustomer response
09/25/2024
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.
Fidelity has not responded as to WHY they restricted my account. Per ****** *******, it was unclear why the account was initially restricted and may have been a mistake. I require a reason as to WHY my account was restricted. Fidelity has not been in contact with me since the initial response, so they have not been truthful to you.
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
09/12/2024
- Complaint Type:
- Billing Issues
- Status:
- Answered
My husband passed away 7/21/24. I am the sole beneficiary of his 401K. I reported his death along with a death certificate promptly to Fidelity Investments. Until this date I have received no correspondence from them and have had to call them numerous times. Each time I call they state they are creating an account for me but cannot give a timeline when this will be completed and funds will be available. Because my husband had no life insurance, I had to pay for his burial in cash. I have two children I am trying to support. I have contacted his employer to inform them this is the kind of place they chose to handle their employees retirement accounts. I would like to have the funds moved promptly into an account we can access. These funds were his and there should be no problem with the transaction. They have everything they need.Business response
09/17/2024
Dear Better Business Bureau:
Your organization forwarded Fidelity a complaint from ******* *****. We wanted to make you aware we called the client on September 16, 2024, to address the client's complaint. We consider the matter fully reviewed and resolved.
Sincerely,
Fidelity InvestmentsInitial Complaint
09/12/2024
- Complaint Type:
- Product Issues
- Status:
- Answered
I had a 401k account with ********************** from a previous employer and currently have an account with current employer. I decided to close out the account with ********************** since there was no longer any contributions being present. I had the cash out amount on a check from Fidelity. I had this deposited right back with Fidelity into their Cash, debit account. I was told next business day the funds would be available. It ended up being almost two weeks for this to become eligible and that was calling everyday asking for a status update and was never given any answers to what was taking so long, it should of been an easy deposit being a check from Fidelity going to Fidelity. Finally the amount was open and to be able to use any of this I had to wire some to my other online bank company. Only because I was also told my Fidelity debit card was shipped and should have delivered. This never showed up nor yet to be delivered after requesting a new one several times. Nothing was ever shipped Then after my wire transfer I was completely blocked from getting access on my online account and log in on Fidelitys site was unable to open. I called and spoke with representatives multiple times and all **** refused to give me any information and refuses to answer any of my questions. That went on for a few days then I waited some more with no communication offered at all. Fidelity now closed my access, kicked me out of their customer base. Of course they still have possession of my money and they have it frozen and will not give me access. Still no questions answered and no professional behavior being used. It in total so far has been probably a month they have had my money and I want it back now and them to stop refusing to give it back.Business response
09/16/2024
To ********************************************* forwarded Fidelity a complaint filed under the above-referenced case ID.
We contacted our client directly and are currently working on a resolution. We consider this matter closed with the BBB.
Sincerely,
Fidelity InvestmentsInitial Complaint
09/12/2024
- Complaint Type:
- Customer Service Issues
- Status:
- Answered
I called four times to Fidelity today and I was met with the most unprofessional, racist, discrimination, retaliation I ever endured from a company of this magnitude. All the agents refused me service including a manager and Im here wondering why Im going through this. All the agents obviously discriminated and was bias against me to protect their colleagues and I was refused service which is a violation of my consumer right. I had to beg over 10 times tonight to get a manager who gave me no help and refused to take my complaint. The discrimination and retaliation is definitely recorded on these phone calls and thats the scary part about this because these agents were very comfortable treating me like how they did this show the structure of this call center. I willing be seeking legal counsel to the retaliation, discrimination, refusal of service which is a violation of my consumer rights and human rights. I want all my phone calls from today September 11 2024 from **********Business response
09/15/2024
Dear Better Business Bureau:
Your organization forwarded Fidelity a complaint from Quem Dionx. We wanted to make you aware we emailed the client on September 12, 2024, to address the client's complaint. We consider the matter fully reviewed and resolved.
Sincerely,
Fidelity InvestmentsInitial Complaint
09/11/2024
- Complaint Type:
- Billing Issues
- Status:
- Answered
Once a quarter I receive a letter from National Financial Services, ****************************************, notifying me that their attempts to email me are failing (email listed in letter is correct) and there is information available specific to the security being held in my brokerage account carried by *******. If I have any questions to contact my financial advisor or broker-dealer ********.I have no accounts with ******* or Fidelity Brokerage Services LLC.Need to have these mailing cease.Business response
09/15/2024
To Whom It May Concern:
Your organization forwarded Fidelity a complaint filed under the above referenced case ID.
We contacted our client directly on September 13, 2024, and are currently working on a resolution. We consider this matter closed with the BBB.
Sincerely,
Fidelity InvestmentsCustomer response
09/16/2024
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,*******
There has been no contact from Fidelity Investments per their claim that they did so on September 13, 2024.
Business response
09/19/2024
To *************************************************** forwarded Fidelity a complaint filed under the above referenced case ID.
We regret the client did not receive our previous response. We contacted the client again on September 18, 2024, and are currently working on a resolution. We consider this matter closed with the BBB.
Sincerely,
Fidelity Investments
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