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How can I add my Fidelity Investments Checking account to Quicken as a Banking Account

MikeBlantz

I am trying to add my Fidelity Investments Checking account to Quicken. When I add it, there is no option to add it as a cash checking account. My only options are Brokerage, 401K or 529.

I tried Brokerage but there is no Online Bill Pay for the account.

How can I add my Fidelity Investments Checking account to Quicken as a Banking Account?

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Accepted answers

Boatnmaniac

The Fidelity Investments "Checking" account is not really a checking account. It is a Cash Management Account (CMA). The CMA account is a Brokerage Account so your setting up the Brokerage was the right thing to do for the first step. The 2nd step is to go to the General tab of Account Details for that Brokerage account and check "Yes" for Show cash in a checking account.

Image: https://us.v-cdn.net/6031128/uploads/editor/xj/x0moyjh0yt94.png

This will set up a separate linked checking account (will show up with other Bank accounts). When you download cash related transactions into the Brokerage account from Fidelity, Quicken will move them into/out of this linked checking account.

Let me know if this answered your question or if you have any other questions.

All comments

Jon

NotACPA said:

I think you almost just proved my point. Had you disputed the bill when you first received it, things would have been MUCH easier.
Autopay is irrelevant to your issue.

I did exactly that. I got home from work, opened my mail & saw the erroneous fee on my cell phone bill, and was on the phone to customer service that same evening.

I did not receive the credit card statement showing that the incorrect amount had been charged to my card until a couple weeks later.

If that happened today, I'd be faster to pick up on the erroneous credit card charge since I'd see it as soon as it posted to the credit card. But at the time, while I was using Quicken Mac I was not downloading transactions from the credit card company into Quicken - I don't remember why. IIRC, this was back in early 2004. Even so, I don't think it would have helped, at that point the damage had already been done, they had my money.

Rocket J Squirrel

This is a great side benefit of Quicken! We run OSU daily and find fraudulent charges within a day or two, rather than waiting for the next statement. We report it immediately, preventing the fraudster from racking up more charges. This happened to us a couple of months ago. Mrs. Squirrel's credit card was somehow compromised, and the fraudster apparently used it to buy some Xmas banquet meals.

Jon

I set up my card accounts to send me an IM whenever a charge is made. If somebody else starts charging to my account I'll know about it within minutes. I actually did catch fraudulent activity that way once & was able to notify the CC company faster than they were able to figure it out themselves.

NotACPA

My now late wife lost her credit card some years ago. I was on the road, but had Q with me on a laptop ... and when a charge for 1 night from a local hotel came in via OSU I called home to find out what happened.

She fessed up to losing the card and I called the bank to report it stolen and the fraudulent charge.

The bank reversed the charge, immediately, but they also noticed that there was an authorization for a 2nd night at the same hotel.

I imagine that there were some VERY surprised thieves when the police arrested them upon check-in for the 2nd night.

Couldn't have happened without OSU.

Chris_QPW

For fraudulent charges it has been about half and half for me. Half detected by the credit card company itself and half by me. Downloading transactions every day has been very useful.

But these days as @Jon's example points out there are other ways too.