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Fidelity Investments
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Fidelity Investments Complaints Summary

14 Resolved
113 Unresolved
Our verdict: With Fidelity Investments's very poor resolution rate, careful consideration is needed. Research their service comprehensively, and read up on how they handle customer disputes. If you face issues, be prepared for potential challenges in obtaining resolutions and explore other service providers as backups.
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Fidelity Investments complaints 127

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2:16 am EDT

Fidelity Investments qdro

I have had to submit my qualified domestic relations order to release 401k monies as part of my divorce settlement 4 times and over 1 year, still have yet to get that dispursement.
Fidelity wants you to use their form to submit and if you dont, they drag out the review procss to up to 60 days .
The QDRO department doesn't have a direct line and when I did call Fidelity, I had to firmly ask to speak to someone and wasnt connected to them, but someone did call me back.
My complaint is that it doesnt take this long to review a QDRO and they are keeping monies that are mine for OVER A YEAR!

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9:47 pm EDT

Fidelity Investments fidelity closed our account and never returned the money to my bank.

Fidelity Dispute
On Sep 2015 we transfered 250k into the fidelity from my wellsfargo account after we recently sold our house and made our moved to Florida. I proceeded to change my address to a close family friend until our tenant was ready to move out of the condo we had rented. Fidelity froze my account and asked me to come in the branch in Altamonte Springs and verify my information due to the change of address, which I provide my drivers license, social security card, birth certificate, power of attorney, title documents proving the sale of the house and an utility bill for the address where we where receiving our mail. They then decided to close my account for unknown reasons and told me I would have to get wellsfargo to reverse the ACH transfer to the account. I went to the Wellsfargo office and explained the situation to my customer representative Hope Stiles which filed for a ACH dispute which Fidelity proceeded to tell wellsfargo that they where working with me personally to get my funds back which was a complete lie as I wouldn't have pursued such actions if it wasn't for their lack of communication and cooperation to return our money. Over six months later and Fidelity still has our money and has made no attempt to return the funds that where transfer. I am going to file complaints with the pertinent government agencies, SEC, consumer affairs, BBB, The complaint boards, /link removed/ occ.gov, helpwithmybank.gov and every other agency we can so this does not happen to anyone else. We are getting ready to file a lawsuit if they are not willing to fix this issue immediately as we have dealt with enough of this nonsense. It appears that Fidelity is trying to defraud me and my family of our hard earned money and we will not allow that to happened. This company can not be trusted.

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theco39
, US
May 18, 2016 12:16 pm EDT

I had bad time with check delivery and they did not know about direct transfer to my Oriental Bank Account. A Fidelity manager told me with an e-mail I can get the money in my account. Today I called Fidelity - Mrs. Arland Reyes - told me there is an code input error in my records made by Fidelity. Error is telling I am an employee coming from US transferred to PR (not true). That error will take now 4 to 5 days to fix. I cannot begin a withdrawal process for that Fidelity error. And again this employee does not know I can get transfer directly to my account.

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6:33 am EST
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Fidelity Investments unsolicited insurance premium deductions from my ibm pension payments

I filed an appeal for unsolicited insurance premium deductions from my ibm pension payments. Fidelity appeal process seems to me a sham. They did not even assign a number to my appeal. Here is the full story:
On july 1st 2015, I was retired from ibm because my job was transferred to global foundries. I signed-up for medical insurance with my new employer, global foundries.In august 2015 I received a bill for medical insurance premium from fidelity. Fidelity manages ibm services. I called fidelity he following day to inform them that I have medical coverage and declined the ibm medical coverage. I was told that I may receive a subsequent bill which I should ignore (It takes a month cycle to update). I did receive subsequent bills which I ignored as instructed. However on december 2nd, I noticed that my pension payment was reduced by about $1000. So I called fidelity to inquire. I was told it will take 5 business days to investigate why I am being charged for insurance and they will get back to me via phone. After 5 business days, I called again. I was told the investigation is done and it will take 2 more business days to reverse the deductions. 2 days later, I received a call from fidelity rep, who told me that they could not find a proof that I called to decline the coverage. That I should file for an appeal with the ibm plan administrator (Fidelity). So I filed an appeal on december 23, 2015. On january 28, 2016 I received a letter from fidelity that I don't qualify for change of status. My appeal was about the fact that I declined the insurance coverage through ibm managed by fidelity and that fidelity failed to act on it.In the response letter fidelity indicated "although my claim was denied, I have the opportunity to request a review by the ibm pan administrator". I am confused my first appeal was addressed to the ibm pan administrator. Fidelity appeal process seems to me is a sham. I believe fidelity in deducting insurance premium from my pension payment even though ideclined the coverage as soon as I received the first bill, is acting without due process and without transparency.

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10:56 am EDT

Fidelity Investments checking savings

I made a deposit on october 6, 2015 at 4pm via the mobile app. I noticed that it hadn't cleared on october 8th which most of my deposits has cleared within two business days. First of all I was told by customer service that the deposit date was october 7, 2015, which leads me to believe that someone made a mistake on the deposit. I am told that my deposit won't clear until october 13, 2015 even though the check has cleared my client's bank account. That is too long for a local check to clear. The customer service rep explained that fidelity is not a bank, however when I was sold on the account that was not the selling point.

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3:51 pm EDT
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I entered an order today to buy 100 shares of BZC at $12.80. The stock closed at $12.75, and yet my order was not filled. When I called Fidelity, after talking to two representatives, and being left on hold for an unreasonable amount of time, I was told that the reason my order was not filled was the bid ask spread was $12.74 to $12.98. That'...

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12:51 pm EDT
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At approximately 4:15 p. M. On monday, july 27, 2017, I placed with fidelity via the internet 4 buy orders for various dividend-paying common stocks. The following day my orders were filled... And then some. I noted a confirmation slip for a company with the symbol "ngls" which I had not ordered. I immediately phoned fidelity on july 28. After speaking with...

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3:15 pm EDT
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Fidelity Investments illegal holdings?

Got a BS story from fidelity about needing 4 more days after a 3 day period to grant me a loan of my money. On their online business application it stated it will take it 3-5 days AFTER the submission. I am on the 6th day, and when i called. They said, it needs to go through 4 different clearing houses. When I asked WHY, they said it takes four banks including 2 chase banks. That takes 2 days, and I said so you are trading with my money? I was informed they were not, and so I asked can you prove it?

When I called chase, they said we do not process through a clearing house, we just move the money. I said to their manager, so Fidelity is using your name to buy them time, making you look bad.

So, basically, fidelity is trading using my money to earn big bucks of their own. When I asked can I go to their facility to just pick up the check since the checks can be cut there. Silence filled the line, and said it already is on the way. Which chase has confirmed it is NOT on the way.

Seriously, thinking of contacting a lawyer to see if they can sue them. As they are in violation of contract.

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Dan Emberton
, US
Aug 04, 2015 7:17 pm EDT

www.boycottfidelity.com

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7:43 pm EDT
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Fidelity Investments inadequate services

Fidelity proves once again how difficult it is to do business with. It offers a labyrinthine website that is not interested in how much customer time it wastes. Poorly designed, difficult to use, a time-burner to accomplish even the simplest of tasks, like signing up for EFT service which we attempted today. Fidelity, like so many financial institutions, does not wish to make our lives easier or more profitable. If it did, it would create and present online systems and services that take into consideration our time and effort. 1 out of 10 rating. Banks are not our friends. But we knew that, sadly. Fidelity can do better, and we hope it will.

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9:06 am EDT
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Fidelity Investments wont release my assets worth millions

My x is a president in fidelity investments. As he goes through life, he is extremely charming on the outside and uses everyone for his purpose, ; acting like your best friend at first. You know the kind... The judge is friends with his lawyer, so all the lies he made up in trial were acceptable to her. Meanwhile I was not allowed to speak the truth and had to defend myself from his countless, bold face lies. He will also not give me my share of the stock, when I have to support the children on a ridiculously low support, and stay in debt. He makes over 3.5 million $ each year, but with help of fidelity, he has "protection" from allocating my share to me. Yes, this is the giant company that wants us to "save for our children"under their roof, while leaving the mothers behind, who struggled with a rat, for years. They call this shameless rat, a president. Shame on them all! He will always make sure he wins, and gets rid of his competition, watch out abby,! You are just as vulnerable.

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3:40 pm EST
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Fidelity Investments destroyed my stock shares without my consent

Since 2000, I have held 20 million shares of a particular stock with fidelity. I bought those shares through fidelity investments, and held them in my account till today. The value of that stock went way down to a hundredth of a penny, and stayed there for a number of years. I never sold, hoping that one day, its value would increase and I would make a profit on the stock. Now, 2012, the value of that stock has gone way up, I want to sell it, but I just discovered, I cannot because fidelity has decided to destroy those shares that I had bought. They refuse to replace them or their substantial dollar amount since they cannot seem to locate a transfer agent for that security. This is fraud in my book. They could have sent me those shares if they did not wish to hold them anymore, but chose to destroy the shares that did not belong to them instead. I've written fidelity letters, which they have chosen to ignore, and I have written the us attorney general's office with my complaint. If there is an attorney out there who feels they are capable of handling a case like this, please contact me.

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1:51 pm EST
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Fidelity Investments non profit corp acts

Traditionally fidelity has been a decent conservative investment co...
Lately fidelity has adopted a poor customer service attitude and corporate culture toward customers. We had a officer pass away and when we contacted fidelity to set up new access points. Fidelity gave us the run around that never stopped...
Endless wait times and reticulated bureaucratic procedures has provided nothing but roadblocks to getting information concerning our account. This run around by fidelity has gone on now for many months. So our accounts are locked.
Extremely dissatisfied with fidelity and advise others to discontinue any services with the late great fidelity.

Fidelity care for customers is nil.
Their senior managers are unavailable and uncaring. Fidelity management does not care to give names and #'s of supervisors for help with customer problems.

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willp
Mercer Island, US
Jan 19, 2012 12:07 am EST

1. poor customer service. phone call not answered. message with no call back
2. I do not like the way they calculate transaction and the settlement of the balance. I feel somebody can steal my money from my fidelity accounts without a trace. I called them repeatedly about my concerns. but off cause, they do not care.
3. I am seriously thinking to transfer my money out of fidelity.

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4:24 pm EDT
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Fidelity Investments sanjay chakladar of fidelity investments

A warning about Sanjay Chakladar

Sanjay Chakladar tries very hard to act American. In fact, he is a little pussy that will steal credit for your work and stab you in the back.

My advice is to check this guy out before you do business with the thief.

Sanjay Chakladar works at Fidelity Investments (sanjay.[protected]@fmr.com)

Sanjay Chakladar used to work at GE Capital for a few months.

Sanjay Chakladar went to a Indian School in the ghetto of Kanpur.

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Sanjay.Chakladar
, US
Jul 29, 2011 4:03 pm EDT

A warning about Sanjay Chakladar

Sanjay Chakladar tries very hard to act American. In fact, he is a little pussy that will steal credit for your work and stab you in the back.

My advice is to check this guy out before you do business with the thief.

Sanjay Chakladar works at Fidelity Investments (sanjay.chakladar@fmr.com)

Sanjay Chakladar used to work at GE Capital for a few months.

Sanjay Chakladar went to a Indian School in the ghetto of Kanpur.

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4:06 pm EDT
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Fidelity Investments sanjay chakladar / fidelity investments

A warning about sanjay chakladar

Sanjay chakladar tries very hard to act american.In fact, he is a little pussy that will steal credit for your work and stab you in the back.

My advice is to check this guy out before you do business with the thief.

Sanjay chakladar works at fidelity investments (Sanjay. Chakladar [at] fmr.com)

Sanjay chakladar used to work at ge capital for a few months.

Sanjay chakladar went to a indian school in the ghetto of kanpur.

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5:15 pm EDT
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Fidelity Investments non disbursal of pension funds

Fidelity investments was supposed to disburse my pension funds 10 months ago... Still waiting... Filed a complaint with sec. Corporations should avoid fidelity at all costs.

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Michael Vdovets
, US
Feb 01, 2016 10:29 am EST
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Really disappointed with Fidelity customer service and handling my IRA accounts. I had business dispute with my partners in 2007 and they rerecorded court filling. This case was dismissed in 2007 by the court; Fidelity had never notified my of a claim against my accounts. I made few deposits to my account since 2007 and again Fidelity had not notified me that there are lock on my account. in 2013 Fidelity internally had restated same claim on my account from 2007, and again no notice to me of this restatement. Unrelated to this I called Fidelity with the question and Fidelity rep told me of a hold. I had immediately submitted copy of discharge order from NY court and local dismissal order of the claim. regardless they refused to release and Fidelity is insisting that I need to produce the original release stamped within blue seal (9 years later after the release of a claim) which means travel to NY from Chicago. They are ignoring copies of a court order and release statement from the court; only originals dated within 90 days.
Customer service representative flatly refused to escalate my claim to the higher up, stating that he is the deciding authority. Wonder if Fidelity ever monitors these complaints or they could not care less. Just in case, If Fidelity truly checks on complaints the person that insists that he is the highest authority at Fidelity, his name is Cade Wolston; (Fidelity File# W028727)

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Johnson and Doshier
Rowlett, US
Mar 16, 2012 11:48 am EDT
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im thikin they probably keep it longer and longer to collect the interrest off your money. My grandpa had problmes with Fidelity a few years ago, 2009, and it made him sick to the point he had to appoint an attorney to help him. its awful he had to pay 3 thousand five hundred to lawyer and then 2 weeks after he got the money put in his bank, he died. i have no respect for Fidelity and I pray God's judgement on them as with what happened to Enron, Countrywide and others that areso scandelous, evil, and take advantage of people that worked most of their lives and allowed Fidelity to use their hard earned money and now they think the money belongs to Fidelity and they can treat people any way they want to and not follow the law. well, there is a law far greater and a God that is far closer than most think. Goodbye Fidelity, judgement day is near. That is from God In Heaven, Jehovah-Jireh, Jehovah Shalom, Jehovah Nissi

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Johnson and Doshier
Rowlett, US
Mar 16, 2012 11:37 am EDT
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I filled out the request to have my pension disbursed to me first week in December 2011 and here it is March 16, 2012 and I have had so many problems and excuses from this company that its pathetic. I worked as manager in the customer service department for BOA mortgage area and they are no different there. I have seen some things that a person wouldnt believe a company would do. Anyhow that is a whole different story. First they told me I didnt complete exactly right, however, the system said it was ok and I was being mailed documents to go over, get notarized and send back. Weeks went by and nothing. I called and the rep at Fidelity said I would have to start over. I did, and same thing. Finally, I got paperwork, and sent it back overnight the same day, this was last week in January. Every week the computer says you can expect your check no later than February 10, then they change it to February 17, then to February 19 and now it has March 16, 2012 and was told it was changed to March 23, 2012. And now, they tell me this is just a estimate. How can Fidelity send me letters that say You can expect your check No Later Than February 17, 2012 and every week they change the date a week out? I have went round and round with the reps and several have put in research tickets, escalated it, and no one calls me back. Damn, this is like being stuck in A Fidelity Pension Nightmare and when will it end? What can I do? Who can I talk to? I am to the point of giving up on life altogether. This and whole situation has me in Depression so bad. Pleae, anyone send me some advice.

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12:43 am EST
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Fidelity Investments miscommunication from representatives

I spoke to a representative on 02/24 asking about a loan that would be available to me. She stated if I paid off a second loan and told me what amount to pay off, I would be eligible for a new loan. I called back today to inquire about the loan (03/03) I am being told that there is no other loans available to me. I asked to speak to a supervisor and to listen to the call on 02/24 since I had made my payment for the outstanding loan based on the communication I received. They said it would take them 5-7 days to pull the call to listen to it. Are you serious? First I wait all this time and then when I call back I am being told to wait another amount of days to be told that I would not be eligible for another loan. The supervisor I talked to was so unhelpful.. His exact words were " so I am not understanding what you would like us to do".. Not even apologising for their mistake.. I am done with this company..

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11:29 pm EST
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Fidelity Investments bad faith

Took a lot of time to have allof my accounts sent to fidelity. After being told teat you need $50, 000 to be partof the porfolio advisors. The fee wasn't bad compared to othr advisors. Now after spending hours with teh fidelity agent I get a letter out of teh blue with no advanced warning stating fidelity wil nolonger advise you as of december 31, 2010. No reason given. I sent a letter to the person that signed the letter"wqhatis teh reason?" I get a very rude response in that fidelity gave meall teh reasons. Still no reason. Scottrade here I come

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Stay Balanced
Palm Beach, US
Dec 25, 2010 6:11 pm EST
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Lowest fees don't mean best service. Anytime a firm doesn't want your business, they have a good reason to take a pass. Why slam the firm in public? I am sure they did nothing wrong. They sent you everything in writing, you just didn't take time to read it. Make sure you read the paperwork at the next firm, or we will have to read about your misunderstanding again. If you want full service, you will need to step up and pay a fair fee. (which means higher) than what you are paying currently. If you want to save money, then you will need to do most of the work. Fidelity felt you were not a good fit for their program, they saw the future, you would not have been happy, so they declined your business. Everyone was served well in this deal.

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4:04 am EDT

Fidelity Investments retirement fund contributions

On April l5, 2010 I mailed via US Mail an IRA contribution to Fidelity Investments for the 2009 tax year. The deposit slip and check both indicated the IRA contribution was to be used for the 2009 tax year. Fidelity received the IRA contribution on 4/20/2010 and ignoring the letter' postmark, the tax year designation on the check and Fidelity deposit form and deposited the IRA contribution for the the 2010 tax year because it arrived one day after their arbitrary receipt cutoff (4/19/2010). As a result I have needed to file an Amended return with both the federal government and the state.

My complaint is as follows:

(1)Fidelity failed to disclose in any of their written or online literature that an arbitrary cutoff date of 4/19/2010 was in effect. If I had know this was the case I would have electronically transferred the funds or sent the contribution registered mail where I could have provided proof of postmark.

(2)Fidelity deposited the IRA contribution clearly designated for the 2009 tax year into the 2010 tax year. They did so without notifying me of the issue. If I had not been carefully reviewing my accounts for unrelated issues, I might not have caught the issue until the following tax year or at a minimum would have caught it later. Further, I am unable to withdraw the 2010 IRA contribution without fund redemption fees, since the money is already invested in funds with 90 day redemption fees.

In summary, the Fidelity cutoff date is arbitrary and harsh with respect to US Mail. Further they have not fairly disclosed the existence of the cutoff date, nor did they act properly in depositing the account for the 2010 tax year when they were specifically asked to deposit it for 2009. Finally, they admitted that while the postmark date is controlling with respect to a 2009 contribution (must be postmarked by 4/15/2009), they deliberately fail to check the actual postmark date.

The above practices are egregious and place burdens on everyday tax payers and in my case, in addition to an amended return, will result in IRS penalty fees.

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beautee
Atlanta, US
Mar 19, 2012 8:42 pm EDT

Change to Fidelity

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trader4000
cincinnati, US
Aug 10, 2010 9:37 pm EDT

People can't be held accountable for your ignorance. Maybe by learning to not procrastinate you could get a lot furthur than you are now. I don't understand how poeple can always complain about service from any type of company when you wait for the last minute to do anything. You sound like the kind of person that would expect the world to bend over backward and have unrealistic expectations. Best of luck moving forward. And by the way, the compliant you have is irrevelant because it is an irs compliant, belive it or not, investment companies can't change tax laws. best of luck

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10:39 am EDT
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Through my experience with Fidelity, I totally agreed with the other investors who have similar horrific experience of the unethical and unlawful business practices of Fidelity. I do not trust Fidelity handling my investments, and have defrauded me previously. The staff is very rude, hostile, abusive and uncooperative. I have transferred most of my funds to...

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2:52 am EST
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Fidelity Investments complaint against fidelity investments

1)) I have invested Rs.10000 under tax advanatge fund and given purchase request on 5th of february( Transaction no - [protected]), which is under process as on today after 13 days.After that i regeistered the complaints in Fidelity thrice, but still neither my invested amount is returned to my account nor it is reflecting in my Fidelity folio.

2) I have submitted KYC form along with online application form on 03/02/10 - sent through normal post as per their advise.Also as per their guidlines mentioned in the KYC application form, i have sent my Original Pan card and Voters ID card to Fidelity-Mumbai adress. Still i have not got any acknowledgement on the same and even i have not got my original pan card and voters ID card back

Pls guide me on the above issues, also let me know the correct platform to discuss this issue.

I shall be ever gratefull to you

Thanking you
Vasude Bankapur

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Pete57
Anchorage, US
Feb 03, 2012 8:18 am EST
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Have been dealing with fidelity since November trying to get the correct amount so I can start my retirement and they refuse to get me the correct information. I have given them all the correct paper work. I am told they have bumped my case up to high but that has been 3 weeks ago. They never call back with any updates.

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Kevin
, US
Mar 04, 2010 5:16 am EST

I have had an account at Fidelity for many years and it has been frustrating. The salesmen have become very high pressure, getting your money out of your account is difficult - I have had to call the chairman's office 3x to get my money, and they charge you to close your account. I am closing my account this month.

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Edward Wang
Kirkland, US
Feb 15, 2011 9:38 pm EST

I recently rolled over my IRA accounts from Fidelity to wells fargo and were charged $50 for closing account. I talked with a customer service representative, he said this fee is charged for keeping my account information, that I didn't ask them to keep.

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1:51 pm EST
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Fidelity Investments phone rep. misinformation

I spoke with Jusin Catal regarding rolling my Fidelity funds into a 457(b) and asked if there would be any account closing fees for either of my funds. Justin stated that if a $50 close fee applied, notification of that fee would appear on my sell screen when I sold the shares via their website.
When I performed my close sells online, no notification appeared onscreen, leading me to believe that no close fees applied.
When my transaction notification came through on the next business day, a $50 close fee was listed for one of the funds.
When I spoke to a rep named Chase about the matter, he said that although the rep misinformed me, the fee could not be recovered because it was already deducted.
I will never do business with Fidelity again, as this was the second situation in which I have been misinformed by one of their phone reps that caused me irreversible fees that I was told I would not encounter.
The first situation was in regards to the ability to contact them collect during my extended time outside of the country. That also was incorrect information that caused me about $72 in low fund balance fees.

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Overview of Fidelity Investments customer experience

Fidelity Investments, particularly their website netbenefits.com, has been subject to numerous consumer complaints. Customers report slow and poor customer service, difficult navigation, and frequent website crashes. Some customers have also expressed frustration with incorrect account balances and confusing investment options. Overall, Fidelity Investments has a negative reputation among the customers.
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Our unwavering commitment is to provide a free and unbiased platform for all complaints. Every complaint is given equal importance, ensuring your concerns are heard and respected, irrespective of their nature.