What to Do When You Can’t Pay Your Fidelity Bill
Fidelity is a name shared by several insurance companies, but the main Fidelity company is an investment firm. Consumers can invest in 401K, IRA and college savings plans through Fidelity. Bill payment services are also provided. Consumers can use Fidelity to make bill payments for college expenses and other expenses based on the retirement or savings plan to which they are currently contributing.
How to Pay the Bill
If customers wish to use Fidelity Bill Pay they can do so with a brokerage account or 529 college savings account. Brokerage accounts can be used to pay bills from participating companies. The 529 savings account can be used to pay college related expenses, including room, board, tuition, fees and book costs.
Pay online Fidelity bill pay: You can pay your Fidelity bill online at https://login.fidelity.com/ftgw/Fidelity/RtlCust/Login/Init/df.chf.ra/BillPay?AuthRedUrl=https://oltx.fidelity.com/ftgw/fbc/ofsummary/defaultPage&AuthOrigUrl=https://scs.fidelity.com/customeronly/billpay.shtml. This link can be used for both brokerage and 529 college savings accounts. Customers with brokerage accounts must have a minimum balance of $2,500 to use online bill pay. If the account balance is $2,500 or more, you can sign up for the Fidelity bill pay service and gain immediate access. If you account balance is less than $2,500, you can still sign up for Fidelity bill pay but you have 60 days to bring your account balance to $2,500 or more before you can use the bill pay service. If your account balance does not reach $2,500 in that time, you bill pay request will be denied.
Pay online 529 savings: You can use your 529 Fidelity savings account to pay college expenses online. Only approved college expenses can be paid with money from a 529 savings account.
Questions About Your Billing Statement or Account?
In the event your Fidelity bill contains information regarding fees associated with your 529 saving account, 401K or 403B, you may want to visit the Fidelity FAQ. You can also find out additional information by calling customer service at 1-800-544-1914.
How Penalty Fees Work
As long as you maintain a $2,500 balance in the Fidelity brokerage account, you can continue using bill pay services without fees. If your balance drops below $2,500 you will receive notification that additional funds are needed to continue using bill pay.
I Can’t Make a Payment
There are no payment services associated with Fidelity accounts. The accounts are funded through direct and paycheck withdrawals. If you are unable to maintain the $2,500 balance, your bill pay privileges associated with your Fidelity brokerage account will be revoked.
Payments to your 529 savings account are funded through personal contributions and paycheck deductions. If deductions are cancelled, the remaining balance will remain in the account until all funds are sued for college expenses.
Will They Work With Me to Pay My Bill?
Fidelity offers a variety of customer service options for customers using the bill pay and 529 college savings accounts. Did the customer service staff at Fidelity help you make a payment?