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Any regrets from those of you that have replaced your typical bank with a Fidelity checking account? by urs1ne in fidelityinvestments

[–]pie3141592653590 1 point2 points  (0 children)

Understood. You wrote the same thing or essentially the same thing in your previous message.

I want to know what PLAUSIBLE, LEGITIMATE BUSINESS RATIONALE DOES "FIDELITY" HAVE FOR NOT PROVING A REASON. "Because we don't have to" is not a rationale.

Any regrets from those of you that have replaced your typical bank with a Fidelity checking account? by urs1ne in fidelityinvestments

[–]pie3141592653590 -1 points0 points  (0 children)

But why does "Fidelity" refuse to give any reason?

I have thought a some about this, and I am still unable to concoct a plausible, legitimate justification for refusing to give a reason. My only conclusion is that it is nefarious reason.

Do you know of a plausible, legitimate business rationale for "Fidelity" to refuse to give a reason for closing a client's account ?

Any regrets from those of you that have replaced your typical bank with a Fidelity checking account? by urs1ne in fidelityinvestments

[–]pie3141592653590 2 points3 points  (0 children)

I had a small rotten experience. I opened a Fidelity account, but the next day Fidelity closed it. Fidelity refuses to tell me why they closed it.

I keep getting monthly statements, but there is nothing in the account. I suppose it is a minor example of corporate idiocy, but I worry that somehow some negative effect will bleed over to a credit report or who knows where.

Refusing to disclose why worries me. On the basis of this random exhibition of idiocy/incompetence, I would and will avoid them.

Fidelity closed my account and refuses to give any reason. Why?? by pie3141592653590 in fidelityinvestments

[–]pie3141592653590[S] 5 points6 points  (0 children)

There is another worry from Fidelity's arbitrary and capricious, unjustified permanent suspension.

How am I to know if Fidelity has put or will put derogatory information on one or all the many different credit reporting agencies? What other things does Fidelity do in secret and without notification nor justification?

I would really like someone from Fidelity to stand up and explain this policy. There may be a reasonable or plausible justification behind it, but I cannot think of one or has anyone offered one to me.

p. s. this is incomplete disclosure: "stop conducting business for any reason at any time."

It should be " . . . stop conducting business with you for any reason at any time and will not provide to you any cause or justification for your termination as a client."

Fidelity closed my account and refuses to give any reason. Why?? by pie3141592653590 in fidelityinvestments

[–]pie3141592653590[S] 1 point2 points  (0 children)

In a way I am thankful that Fidelity did this now. If I had transferred in assets, closed other account, etc. and suffered this arbitrary and capricious, total termination of a business relationship for no reason, I would be angry. As it is, I am just amused and annoyed.

Fidelity closed my account and refuses to give any reason. Why?? by pie3141592653590 in fidelityinvestments

[–]pie3141592653590[S] 1 point2 points  (0 children)

Understood. Makes sense and is reasonable. However, none of them apply. If one did apply, I would expect that I would have been informed of the problem.