How to Delete an Account on Fidelity – All About Money & Commerce

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How to Delete an Account on Fidelity

Fidelity Investments is a well-known financial services company that offers a wide range of investment options, including brokerage accounts, retirement accounts, and mutual funds. However, if you no longer wish to maintain an account with Fidelity, you may be wondering how to delete it. In this article, we will guide you through the process of deleting an account on Fidelity.

Step 1: Contact Fidelity Customer Service
The first step in deleting your Fidelity account is to contact their customer service. You can reach them by phone, email, or through their online chat support. Inform them that you would like to delete your account and ask for further instructions. They may require you to provide some information to verify your identity.

Step 2: Close All Positions and Transfer Funds
Before closing your Fidelity account, it is important to close all your positions and transfer any remaining funds. This ensures that you don’t leave any investments or money behind. You can do this by selling your investments or transferring them to another brokerage account. Fidelity’s customer service representatives can guide you through this process.

Step 3: Complete Account Closure Form
Once you have closed all your positions and transferred your funds, Fidelity will provide you with an account closure form. This form will require you to provide information such as your account number, contact information, and reason for account closure. Fill out the form accurately and submit it to Fidelity. Make sure to keep a copy for your records.

Step 4: Confirm Closure
After submitting the account closure form, Fidelity will review your request and confirm the closure of your account. They may contact you for further verification if required. Once your account is closed, you will receive a confirmation email or letter stating that your account has been successfully deleted.

FAQs:

Q: Can I delete my Fidelity account online?
A: No, you cannot delete your Fidelity account online. You need to contact Fidelity’s customer service and follow their instructions to delete your account.

Q: Will closing my Fidelity account affect my credit score?
A: No, closing your Fidelity account will not directly affect your credit score. However, if you have any outstanding loans or credit accounts associated with your Fidelity account, it is essential to ensure that you have made proper arrangements to continue making payments.

Q: Can I reopen a closed Fidelity account?
A: Yes, you can reopen a closed Fidelity account. However, the process may vary, and you will need to contact Fidelity’s customer service for assistance.

Q: Are there any fees or penalties for closing a Fidelity account?
A: Fidelity does not typically charge any fees or penalties for closing an account. However, there may be certain fees associated with closing specific types of accounts, such as retirement accounts. It is advisable to consult with Fidelity’s customer service to understand any potential fees.

Q: Can I transfer my investments to another brokerage before closing my Fidelity account?
A: Yes, you can transfer your investments to another brokerage before closing your Fidelity account. This ensures that you maintain control over your investments and avoid any potential tax consequences. Fidelity’s customer service can guide you through the transfer process.