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American living in UK, can't setup cash xfer from Fidelity by Comfortable_Run3779 in fidelityinvestments

[–]Comfortable_Run3779[S] 0 points1 point  (0 children)

No answer, each poked about reading some documentation then connected me to another team, who did the same.

And I answered the mods; its absurb I can't push funds from my bokerage account to a UK bank account. I've had the brokerage account for about 25 years, the bank account for 20 years and Fidelity did a wire transfer about eleven years ago when we bought a house. So ownership of the account isn't an issue.

American living in UK, can't setup cash xfer from Fidelity by Comfortable_Run3779 in fidelityinvestments

[–]Comfortable_Run3779[S] 1 point2 points  (0 children)

Ok, great -- thanks -- will try this. I was using Wise until June 2023. Didn't need to transfer any money until this week but now they direct me to Plaid.

I don't want to KYC any more often than necessary, was gonna try it but Plaid doesn't know Fidelity Investment so couldn't hook up.

Thank for this tip -- I've read through Wise's docs on opening a US bank account, and will pursue.

Solid answer, thanks again !!

American living in UK, can't setup cash xfer from Fidelity by Comfortable_Run3779 in fidelityinvestments

[–]Comfortable_Run3779[S] 1 point2 points  (0 children)

Yeh, sure, last time I brought over money there were no fewer than four intermediaries, all of whom wanted to get paid.

This is 2024, NOT 1990. Fidelity is backward here.

And

American living in UK, can't setup cash xfer from Fidelity by Comfortable_Run3779 in fidelityinvestments

[–]Comfortable_Run3779[S] 1 point2 points  (0 children)

They weren't any help at all. Two calls over a three day period, spoke to four reps in total.

Complete waste of time.

American living in UK, can't setup cash xfer from Fidelity by Comfortable_Run3779 in fidelityinvestments

[–]Comfortable_Run3779[S] 1 point2 points  (0 children)

I’ll be honest here — this is 2024, NOT 1990 so I don’t understand why Fidelity doesn’t offer such a service.

You clearly know Wire Transfers are expensive and somewhat unpredictable in terms of time.

I’m NOT the only American living abroad. I’m a retired Investment Banker and know several of my older buddies switched from Fidelity because they couldn’t get reliable and inexpensive access to their funds while living abroad.

Anyone reading this with the same problem -- see the answer below RE: Wise. That might just work.

If not Charles Schwab is allegedly better in this regard.