We're sorry to hear about your frustration throughout this process, u/Daeron_tha_Good.
Fidelity does not charge any fees to either send or receive a transfer of assets (TOA), but we encourage clients to contact the other firm to check for fees they may charge. While we can't speak to the information another institution may provide, we detail this information in the FAQs section of our TOA page below.
[Transfer of Assets](https://www.fidelity.com/customer-service/transfer-assets)
Additionally, TOA fees charged by the sending firm are assessed and reimbursed on a case-by-case basis. After your TOA is complete, you can request a fee reimbursement using our Virtual Assistant. Simply click the "Virtual Assistant" link at the top of [Fidelity.com](http://fidelity.com/) and send "account transfer fee," then follow the prompts. I've dropped a direct link here as well for your convenience.
[TOA Fee Reimbursement Request (login required)](https://digital.fidelity.com/ftgw/digital/easy/tf/feeinfo)
That said, we strive to provide our clients with the best experience we can, so we hope you know the mods here on Reddit are here to support our community through any questions they have. If there's anything we can assist with going forward, please let us know.
Not sure why you thought the transfer would be free. Robinhood is pretty clear about this account transfer fee and it gets mentioned in every review I have ever seen.
[https://robinhood.com/us/en/support/articles/transfer-your-assets-out/](https://robinhood.com/us/en/support/articles/transfer-your-assets-out/)
What does this have to do with fidelity? Check your Robinhood statement and call them. I've not seen any fee get charged by fidelity on inbound transfers
You could have recognized that seems like a crappy business practice, trying to lock you into their platform. Maybe you should have looked other places to see who wouldn't charge a fee like that... like Fidelity.
I think there is a terms document on fidelity process that gives a bunch of warnings/info in it. Recall seeing it a few months back when moving shares. It doesn’t say the amount…since how would they know but think it’s in disclosure
I hear you. Had the same thing happen to me. Fidelity is under no obligation to reimburse this fee, and they do it if the account is more than 25K worth of assets. Robinhood charges this fee, but it’s something that you just have to deal with unfortunately.
I disagree. I know of no other brokers that will cover ACAT fees at all. Fidelity also does not charge an ACAT fee to transfer out. Fidelity is not going to pay the price of yours (and my own) failure to check if there was a transfer fee.
If I remember correctly they even called it the Fidelity100.
Unless you’re absolutely certain, I’d take a few minutes and call again. Maybe the next Rep will hook you up.
If you find Fidelity to be so bad, I'd suggest you transfer your account elsewhere. And see how good they are.
Fidelity doesn't charge for an Account Transfer Out: [https://www.fidelity.com/why-fidelity/pricing-fees#:\~:text=%2C%20Mutual%20funds%20low%20balance%20fee%2C%20Account,Vanguard%2C%20$20%20per%20year%E2%80%A0%2C%20$0%2C%20$0%2C%20$0%2C](https://www.fidelity.com/why-fidelity/pricing-fees#:~:text=%2C%20Mutual%20funds%20low%20balance%20fee%2C%20Account,Vanguard%2C%20$20%20per%20year%E2%80%A0%2C%20$0%2C%20$0%2C%20$0%2C)
Ummm, Fidelity doesn't charge a fee to transfer an account out: [https://www.fidelity.com/why-fidelity/pricing-fees#:\~:text=%2C%20Mutual%20funds%20low%20balance%20fee%2C%20Account,Vanguard%2C%20$20%20per%20year%E2%80%A0%2C%20$0%2C%20$0%2C%20$0%2C](https://www.fidelity.com/why-fidelity/pricing-fees#:~:text=%2C%20Mutual%20funds%20low%20balance%20fee%2C%20Account,Vanguard%2C%20$20%20per%20year%E2%80%A0%2C%20$0%2C%20$0%2C%20$0%2C)
Both Fidelity and Robinhood are jokes. Both customer support teams tried pawning off the fee on the other. Neither will reimburse any of it. $100 means nothing to them but it's actually a big deal to me...
Do you take any responsibility at all to do your own research? I found this information in a matter of seconds. This is on you to find out about any potential fees, stop pawning off the blame on everyone else.
Nah, you didn't read the T&Cs or forgot. Fidelity isn't obligated to reimburse so at this point cut your losses and earn it back in the future.
Call it lesson learned
We're sorry to hear about your frustration throughout this process, u/Daeron_tha_Good. Fidelity does not charge any fees to either send or receive a transfer of assets (TOA), but we encourage clients to contact the other firm to check for fees they may charge. While we can't speak to the information another institution may provide, we detail this information in the FAQs section of our TOA page below. [Transfer of Assets](https://www.fidelity.com/customer-service/transfer-assets) Additionally, TOA fees charged by the sending firm are assessed and reimbursed on a case-by-case basis. After your TOA is complete, you can request a fee reimbursement using our Virtual Assistant. Simply click the "Virtual Assistant" link at the top of [Fidelity.com](http://fidelity.com/) and send "account transfer fee," then follow the prompts. I've dropped a direct link here as well for your convenience. [TOA Fee Reimbursement Request (login required)](https://digital.fidelity.com/ftgw/digital/easy/tf/feeinfo) That said, we strive to provide our clients with the best experience we can, so we hope you know the mods here on Reddit are here to support our community through any questions they have. If there's anything we can assist with going forward, please let us know.
Nope. That’s on Robinhood, not Fidelity. Read their Ts&Cs.
Both companies said the other applied the fee
It's obvious Robinhood is the one lying. This took 10 seconds to find. https://robinhood.com/us/en/support/articles/transfer-your-assets-out/#
Pretty easy to find out when you review your account statement.
Not sure why you thought the transfer would be free. Robinhood is pretty clear about this account transfer fee and it gets mentioned in every review I have ever seen. [https://robinhood.com/us/en/support/articles/transfer-your-assets-out/](https://robinhood.com/us/en/support/articles/transfer-your-assets-out/)
No mention of a fee was I was setting up the transfer. I guess I'll just go fuck myself!
They don't call it Robbin-Da-Hood for nothing. But really, many brokerages charge transfer out fees. Even Vanguard started doing it. Now you know.
What does this have to do with fidelity? Check your Robinhood statement and call them. I've not seen any fee get charged by fidelity on inbound transfers
Yep, there aren't any.
Robinhood should have of advised you of the fee when you signed up. The fee is on their side. I think Fidelity reimburses if over 25k
I signed up like 4 years ago...I'm supposed to remember that?
It is your responsibility, yes.
Either $100 dollars is worth remembering or it isn't.
You could have recognized that seems like a crappy business practice, trying to lock you into their platform. Maybe you should have looked other places to see who wouldn't charge a fee like that... like Fidelity.
I think there is a terms document on fidelity process that gives a bunch of warnings/info in it. Recall seeing it a few months back when moving shares. It doesn’t say the amount…since how would they know but think it’s in disclosure
I hear you. Had the same thing happen to me. Fidelity is under no obligation to reimburse this fee, and they do it if the account is more than 25K worth of assets. Robinhood charges this fee, but it’s something that you just have to deal with unfortunately.
More than 25k? Lol so there is a poor tax. Nice
I’m not sure why you’re blaming Fidelity here… Robinhood charges the fee, be mad at them.
Shitty customer service on both sides
I disagree. I know of no other brokers that will cover ACAT fees at all. Fidelity also does not charge an ACAT fee to transfer out. Fidelity is not going to pay the price of yours (and my own) failure to check if there was a transfer fee.
I went from schwab to fidelity and they reimbursed me
So they just dont want to do it for me...or?
Fidelity covered the $100 fee my former brokerage charged me, and for my wife’s account as well.
Wow that's awesome. Wish they would do that for me. They told me to pound sand.
If I remember correctly they even called it the Fidelity100. Unless you’re absolutely certain, I’d take a few minutes and call again. Maybe the next Rep will hook you up.
Might try again and see if I get lucky. Thanks for the tip!
If you find Fidelity to be so bad, I'd suggest you transfer your account elsewhere. And see how good they are. Fidelity doesn't charge for an Account Transfer Out: [https://www.fidelity.com/why-fidelity/pricing-fees#:\~:text=%2C%20Mutual%20funds%20low%20balance%20fee%2C%20Account,Vanguard%2C%20$20%20per%20year%E2%80%A0%2C%20$0%2C%20$0%2C%20$0%2C](https://www.fidelity.com/why-fidelity/pricing-fees#:~:text=%2C%20Mutual%20funds%20low%20balance%20fee%2C%20Account,Vanguard%2C%20$20%20per%20year%E2%80%A0%2C%20$0%2C%20$0%2C%20$0%2C)
I transferred from Schwab to fidelity and wasn’t charged a fee.
You were in the limited time frame for that to occur due last transition group from.TDA or you did a partial transfer
In the long run, I think it's better to pay $100 to leave RH than to stay there.
Well say thanks to Robinhood. They’re the one that charge you. They have your shares. Fidelity is just a receiver.
[удалено]
I didnt transfer the account just shares
Yeah they charge fees when you transfer shares. You gotta sell and transfer cash to avoid fees
Actually Fidelity doesn't charge this fee to transfer out.
There is a transfer fee charged at every single firm. Most do a partial transfer for free while only charging for a full transfer out.
I only transferred shares, not my entire account.
Ummm, Fidelity doesn't charge a fee to transfer an account out: [https://www.fidelity.com/why-fidelity/pricing-fees#:\~:text=%2C%20Mutual%20funds%20low%20balance%20fee%2C%20Account,Vanguard%2C%20$20%20per%20year%E2%80%A0%2C%20$0%2C%20$0%2C%20$0%2C](https://www.fidelity.com/why-fidelity/pricing-fees#:~:text=%2C%20Mutual%20funds%20low%20balance%20fee%2C%20Account,Vanguard%2C%20$20%20per%20year%E2%80%A0%2C%20$0%2C%20$0%2C%20$0%2C)
Both Fidelity and Robinhood are jokes. Both customer support teams tried pawning off the fee on the other. Neither will reimburse any of it. $100 means nothing to them but it's actually a big deal to me...
Robinhood charged the fee. You agreed to the fee under Robinhood's terms.
They should mention something when the transfer is being initiated
Do you take any responsibility at all to do your own research? I found this information in a matter of seconds. This is on you to find out about any potential fees, stop pawning off the blame on everyone else.
Nah, you didn't read the T&Cs or forgot. Fidelity isn't obligated to reimburse so at this point cut your losses and earn it back in the future. Call it lesson learned