I just sold stocks through Fidelity Investments. Do they send me a check and how long does it take?

Question

I sold only 12 shares just for some quick cash. How will they pay me and how long will it take? I've never done this before.

Answer 1

You must have set up a brokerage account in order to be able to buy and sell shares. In doing so, you also have a money market account. The proceeds from the sale of your 12 shares will be put into the money market account, as will any dividends or capital gains from any other stock.

If you want, you can electronically transer all or a portion of the proceeds in your money market to your checking or savings account, but you must first have set this up online.

If not, you can request Fidelity to send you a check or you can go to any of their offices located throughout the state and have them draft a check for you there.
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Answer 2

Fidelity Check

Answer 3

I not use Fidelity, but, most work the same. Mine just goes into my bank. Some may mail you a check, it how you told them to do this. Normally when a person just sell, then they hold the money as many buy something else. So, if you sold on-line you may need to call/email for them to send you whatever amount you want from your account. When we sell stock, there is some time involved in the transaction taking place for you to receive money. You need to talk with Fidelity how this works! When we sell and buy then they let the money flow as it still there. But, for them to send you the money may require a few days or more for the transaction to finalize.

Answer 4

Based on your question, we'll assume you don't have ACH set up for your account. Even so, Fidelities menu system is NOT set up well for you to withdraw money (only deposit it).

Your best bet is to just call em up to request your money. They're open 24/7, so you can call em now. Just tell em how much you want and as long as you have it in cash / or your sales transaction has cleared, they'll kick a check out to you PDQ.

Hope that helps!

Answer 5

You will owe 15% tax on the amount of capital gain (ie, your profit after you consider how much you originally spent on the stock). You should send this in as an estimated tax payment with form 1040-ES. Or increase your payroll withholdings to cover it. Early next year, Fidelity will send you a 1099 with all the information you need to include on Schedule D of your 2011 tax return.

Answer 6

No. The money goes into a money market held for you by Fidelity. If you want to get cash, you have to specifically request it (call them up). It'll take a few days to get the check in the mail.

Answer 7

I think it should be there with in 5 days, but if you deposit the check into your bank, make sure it has Fully cleared before you write any checks against it. if its over what you have in your checking, it could take up to 3 weeks to clear, check with your bank first to be sure. They love those NSF charges from people who don't know about that loop hole for them. It's easy to assume they have you covered, but ask for a conformation first.

Answer 8

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Answer 9

If you told them you wanted the money, they will send you a check...if you didn't , it will stay in your account as a cash credit
Phone them and tell them what YOU want,