Fidelity money market automatic redemptions

BillBarns · February 10

I too received two CvrShrt transactions on 2/10. One of them probably corresponds to (and should match) an XOut entered as the Fidelity side of an ACH cash transfer from the Fidelity account to a bank account. The other one is mysterious and I haven't figured out anything it corresponds to (it is about the size of something like a dividend, but the Fidelity website doesn't show any dividend or other transaction of that amount).

I have also seen on several occasions in recent months, and again today, the red flag with nothing showing in the downloaded transactions box. Typically this resolves for me by restarting Quicken - usually displaying a transaction, occasionally clearing the red flag and not displaying a transaction.

It doesn't feel to me like these two things are connected closely, if at all.

boysings · February 10

Like @bdantes and @Quick92, I just had some "CvrShrtX" transactions when I did an Update for my Fidelity accounts. Before today, it had been several months since I'd had a problem with incorrect transactions for my Fidelity accounts. In this case, the CvrShrtX transactions were all duplicates of transactions I'd already accepted. I just deleted them all.

BillBarns · February 10

Also, and separately, Fidelity Cash (reported with symbol FCASH) still isn't treated as cash. I think it always should be, and if it is made a choice as with the other Fidelity money market funds, I'm going to choose that. FCASH is money-market-like but it does not have shares.

Dan · February 10

This does look like progress to me for FZDXX. Once this is changed from CvrShrt to Sold, I think it should be fixed.

NotACPA · February 10

See this re; the CvrShrt issue

https://community.quicken.com/discussion/7971005/new-2-10-26-fidelity-core-cash-transactions-downloading-as-cover-short-sale-cvrshrt#latest

EvDob · February 10

Me too, today I downloaded lots of old CvrShrt transactions from core funds SPAXX & FDRXX as well as non-core funds FZDXX & FIGXX. Seems to me the core funds should not have transactions since I've set them to be treated as cash. The non-core funds will be good if the transaction is Sold.

qudtp · February 10

Alyssa has posted an alert about this, which we can bookmark for updates:

https://community.quicken.com/discussion/7971005/new-2-10-26-fidelity-core-cash-transactions-downloading-as-cover-short-sale-cvrshrt

Boatnmaniac · February 10

I got the cvrshrt transactions downloaded into all 9 of my Fidelity accounts this morning extending back to the beginning of 2026. In all of these transactions the security was the Core Position MMF so they should not have been downloaded at all.

I simply deleted all of those transactions so they did not get entered into the register. Then I confirmed that all of the accounts had no shares discrepancies/placeholders and the cash balances were correct. This evening when I ran OSU, again, this issue did not recur so all is good for me at this time.

bdantes · February 10

https://community.quicken.com/discussion/comment/20536964#Comment_20536964

And CvrShrt/CvrShrtX is not even right for MMFs that have been auto-redeemed — it causes a debit in the linked checking account, rather than the credit it should be.

Boatnmaniac · February 11

In one of my 9 Fidelity accounts there were 2 new CvrShrt transactions downloaded this morning. They regarded cash that was to be taken from the account's Cash Balance (i.e., Core Position MMF) to support 2 Buy transactions (of other securities) and instead were Sell transactions of that MMF.

This created a shares held imbalance (that MMF is reported in Quicken as Cash and not as held Shares) which then generated a Placeholder for that because the Sell activity created a negative shares balance in Quicken..

It also added the cash generated from the CvrShrt/Sell transaction to the account's Cash Balance when it should not have so now there was an imbalance between what Quicken reported as the Cash Balance and what Fidelity reported to Quicken as Cash Balance.

Like, yesterday, the issue was easily corrected: Delete the CvrShrt transactions. Delete the Placeholders. Then the Cash Balance could be reconciled and there are no shares held discrepancies.

bdantes · February 12

@Quicken Kristina @Quicken Janean

And now I'm seeing funds that were previously treated as Cash, like FDRXX, stop being so, i.e., Bought transactions for FDRXX are showing up. The MMF problem has gone from bad to worse. :-(

Boatnmaniac · February 13

https://community.quicken.com/discussion/comment/20537523#Comment_20537523

Did you accept any CvrShrt transactions into the account register?

If so, backup up your data file. Then do what I posted in my previous post. I think that will resolve the issue you are describing.:

https://community.quicken.com/discussion/comment/20537201#Comment_20537201

In the future, if you get any more CvrShrt transactions downloaded, delete them instead of accept them into the account register. Then you won't need to got through the correction steps, again.

bdantes · February 13

https://community.quicken.com/discussion/comment/20537543#Comment_20537543

I hadn't accepted the CvrShrt transactions.

However, as of the latest release this morning of 66.12, FDRXX showed up on the list of MMFs that I could treat as cash. So now that regression is fixed. Jury is still out on the handling of non-cash MMFs.

EvDob · February 13

These CvrShrt transactions are really annoying since now they appear virtually every day in the account I use as my checking account. It was easier when just the automatic redemption transactions were broken (missing).

qudtp · February 13

https://community.quicken.com/discussion/comment/20536988#Comment_20536988

All this happened to me today: at least one CvrShrt, which I deleted, and several accounts with red flags but no transatcions to review. Yes, this has happened to me as well, from time-to-time, previously. But yes - this is too much of a coincidence, so I conclude these problems are connected.

Boatnmaniac · February 13

https://community.quicken.com/discussion/comment/20537592#Comment_20537592

My non-Core Position MMFs continue to be reported as held shares, not as cash, as they should be.

My Core Position MMFs are being reported as Cash Balance, not as shares, as the should be.

Except for this CvrShrt issue, the MMFs have been reported correctly for me since the end of December.

bdantes · February 14

@Quicken Kristina @Quicken Janean

In addition to my non-core MMF redemptions still coming down as CvrShrts, so are the redemptions of my core MMF, FDRXX, despite being marked explicitly "Treat Money Market as Cash" in the account settings.

As another user posted, we are now worse off than we were before, when just the Sold/SoldX transactions for non-core MMFs were missing. What a mess.

Quicken Kristina · February 17

Hello @bdantes,

Thank you for taking the time to report this issue to the Community. We apologize for any frustration or inconvenience this may have caused.

This issue has been reported to our Development and Product teams for further investigation and resolution. Although we do not currently have an ETA, you can bookmark the Community Alert below to receive updates as they become available and to be notified when the issue is resolved. If you do not see the bookmark icon at the upper right, please make sure you are logged into the Community.

https://community.quicken.com/discussion/7971005/update-2-11-26-fidelity-core-cash-transactions-downloading-as-cover-short-sale-cvrshrt

Thank you!

(Ticket #12226405/CTP-16265)

bdantes · February 17

https://community.quicken.com/discussion/comment/20538431#Comment_20538431

But that post hasn't been updated in almost a week — and there is still no feedback from your engineers on what the exact problem is/was. As a software engineer myself, I just can't understand how the EWC+ functionality was allowed out the gate with such obviously poor testing — and that here we are almost SEVEN MONTHS later still not back to parity with Direct Connect functionality. And to make matters worse, we were finally almost there with the auto-redemptions "simply" missing — and now things have regressed even further with these CvrShrts even for core-cash MMFs. @Quicken Kristina — I know you are just the messenger, but please convey to engineering that this kind of stuff just really shakes faith in the competence and trustworthiness of the product.

And btw — I have never gotten any response or feedback from support for my direct reports. This is why you see so many of us posting here in the community.

Quicken Kristina · February 17

Thank you for your reply,

I forwarded your feedback to our internal teams.

And btw — I have never gotten any response or feedback from support for my direct reports. This is why you see so many of us posting here in the community.

Are you referring to problem reports sent via Help>Report a Problem? While you will not receive a direct response to problem reports submitted through the program, these submissions are routed to a database accessible to our Product and Development teams, escalation teams, and other internal support channels. If you need a direct response, we recommend contacting Quicken Support directly by phone or chat.

Thank you!

bdantes · February 17

@Quicken Kristina @Quicken Janean

Dare, I hope? I just had an auto-redemption of a non-cash MMF show up correctly as a SoldX transaction in an account with a linked checking account — and no spurious transactions for the cash MMF.

Given that the app itself did not update, clearly some bug was fixed on the server side of things — either in Fidelity's feed or with Intuit.

If this is indeed finally fixed, a detailed post mortem after all this time would be greatly appreciated.

EvDob · February 19

I also had an auto redemption show up correctly, as a Sold.

Quicken Kristina · February 24

Thank you for the follow-up,

I'm glad to hear that transactions are now downloading correctly!

The ticket does show that a fix was pushed, and the issue should now be resolved.

If this is indeed finally fixed, a detailed post-mortem after all this time would be greatly appreciated.

Unfortunately, I don't have access to detailed information. The data was being sent in a way that was causing Quicken to misinterpret it. Our teams worked with Fidelity to correct the issue.

Thank you!

Fidelity money market automatic redemptions

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