The fastest way to get cash from Fidelity to your bank
You can move money from a Fidelity brokerage or retirement account to your linked bank account through Fidelity's online platform or by phone. The process takes one to three business days for most transfers, though some accounts have same-day options. You'll need your bank's routing number and your account number, and Fidelity will verify the connection before the first transfer goes through.
The method you use depends on your account type. A standard brokerage account lets you withdraw cash anytime. A retirement account like an IRA or 401(k) has withdrawal rules tied to your age and account type—pulling money out early can trigger taxes and penalties. A 529 college savings plan has restrictions on what the money can be used for.
Key Takeaways
- Link your bank account to Fidelity first by providing your routing number and account number; Fidelity will verify it with two small deposits.
- Brokerage accounts let you withdraw cash anytime, but retirement accounts charge taxes and penalties if you withdraw before age 59½ unless an exception applies.
- Most transfers take one to three business days; some Fidelity accounts offer same-day transfers for an additional fee.
- Sell any investments first if you need the money in cash—you cannot transfer stocks or mutual funds directly to your bank account.
Link your bank account to Fidelity before your first withdrawal
Fidelity requires you to add your bank account and verify it before you can move money out. Log into your Fidelity account online, go to the Accounts & Trade section, and select "Transfer Funds." Choose "Link a New Bank Account" and enter your bank's routing number and your account number. You can find your routing number on a check or by calling your bank.
Fidelity will send two small deposits (usually under $1 each) to your bank account within one to two business days. Once they arrive, log back into Fidelity and confirm the exact amounts of both deposits. This verification step prevents fraud and ensures Fidelity has the correct account information. After verification, you can begin transferring money.
If you already have a bank account linked to Fidelity, you can skip this step and move directly to initiating a transfer.
Sell investments if you need cash, not securities
Your Fidelity account likely holds stocks, mutual funds, ETFs, or other investments. You cannot transfer these securities directly to your bank account—your bank only accepts cash. If you want to move money out, you must first sell the investments and convert them to cash within Fidelity.
Log into Fidelity, find the investment you want to sell, and select "Sell." Confirm the number of shares and the order type (usually "market order" for immediate sale at the current price). The sale typically settles within one to two business days, meaning the cash appears in your Fidelity cash account. Once settled, that cash is ready to transfer to your bank.
If you sell at a loss, you may be able to deduct that loss on your taxes. If you sell at a gain, you may owe capital gains tax. Fidelity will send you tax documents at the end of the year showing your gains and losses.
Initiate the transfer through Fidelity's website or app
Once your bank account is linked and you have cash available in Fidelity, go to "Transfer Funds" in your account. Select "Withdraw" and choose the linked bank account you want to send money to. Enter the amount you want to transfer and confirm the transfer type—standard transfers take one to three business days and are free.
Some Fidelity accounts offer "Express" or same-day transfers for a fee (usually $10 to $25). If you need the money urgently, check whether your account type qualifies. Review the transfer details carefully: the amount, the receiving bank account, and the expected arrival date. Once you submit, the transfer cannot be cancelled immediately, though you can contact Fidelity if you catch an error within a few hours.
Fidelity will send you a confirmation email with a reference number. Save this number in case you need to track the transfer or contact your bank.
Understand the timeline for different account types
A standard brokerage account has no withdrawal restrictions. You can move money out anytime after the sale settles. Most transfers arrive within one to three business days. Weekends and bank holidays do not count as business days, so a transfer initiated on Friday may not arrive until Tuesday.
A traditional IRA or SEP IRA allows you to withdraw money anytime, but withdrawals before age 59½ are subject to income tax plus a 10% early withdrawal penalty unless you meet a specific exception (such as disability, medical expenses, or first-time home purchase). A Roth IRA lets you withdraw contributions anytime tax-free, but earnings withdrawn before age 59½ face the same tax and penalty.
A 401(k) is more restrictive. You cannot withdraw money while you are still employed by the company that sponsors the plan, with rare exceptions. After you leave the job or reach age 59½, you can withdraw. Withdrawals before 59½ are taxed as income and hit with a 10% penalty unless an exception applies. A 403(b) or 457 plan follow similar rules.
What to do if your transfer is delayed or does not arrive
If your transfer does not arrive within the stated timeframe, log into Fidelity and check the transfer status. Most transfers show as "pending" or "complete" in your account history. If it shows complete but your bank has not received it, contact your bank first—the delay may be on their end. Provide your bank with the Fidelity reference number.
If Fidelity shows the transfer as pending after three business days, contact Fidelity's customer service by phone or through your account. Have your reference number and the amount ready. Fidelity can investigate whether the transfer was rejected by your bank (often due to a mismatched account number or routing number) or held up on Fidelity's side.
If the transfer was rejected, Fidelity will return the money to your Fidelity cash account within one to two business days. You can then correct the bank account information and try again. If your bank account details were wrong, update them in Fidelity before re-initiating the transfer.
Taxes and penalties for retirement account withdrawals
Withdrawals from retirement accounts are taxed differently than withdrawals from a regular brokerage account. A traditional IRA or 401(k) withdrawal is taxed as ordinary income at your current tax rate. If you withdraw before age 59½, you also owe a 10% early withdrawal penalty on top of the income tax, unless you meet an exception.
Common exceptions to the 10% penalty include disability, medical expenses exceeding 7.5% of your adjusted gross income, first-time home purchase (up to $10,000 lifetime), and substantially equal periodic payments. Fidelity can help you determine whether your situation qualifies, but you should also consult a tax professional or the IRS website for your specific circumstances.
A Roth IRA is more flexible. You can withdraw your contributions (the money you put in) anytime tax-free. Earnings (investment gains) withdrawn before age 59½ face income tax and the 10% penalty. If you have held the Roth for at least five years and are age 59½ or older, both contributions and earnings come out tax-free.
Frequently Asked Questions
How long does it take money to show up in my bank account after I request a transfer?
Standard transfers take one to three business days. Weekends and bank holidays do not count. If you request a transfer on Friday afternoon, it may not arrive until Wednesday. Some Fidelity accounts offer same-day or next-day transfers for a fee.
Can I transfer stocks or mutual funds directly to my bank account?
No. Your bank only accepts cash. You must sell the stocks or funds in Fidelity first, wait for the sale to settle (usually one to two business days), and then transfer the cash to your bank.
What happens if I withdraw from my IRA before age 59½?
You owe income tax on the withdrawal plus a 10% early withdrawal penalty, unless you meet an exception like disability, medical hardship, or first-time home purchase. Consult a tax professional to understand your specific situation.
Do I need to verify my bank account every time I transfer money?
No. You verify it once when you first link it. After that, you can transfer to the same bank account as many times as you want without re-verifying.
What should I do if my transfer was rejected?
Check the rejection reason in Fidelity—usually it is a mismatched account number or routing number. Correct the bank account details in Fidelity and try again. If you are unsure, call your bank to confirm your routing number and account number are correct.