[SaucyJim]

Earlier this week, my Fidelity account presented a "Your account is blocked" message to me and I had to call a number to get it unblocked. "How did I unblock it," you ask? They made me change my password. Unreal.

For those who do not know, forcing changed passwords on people is LESS secure because people end up writing down the new one. Dual authentication (which they do, as well) is good enough. And before everyone starts in the the password keeper advice, I worked in tech for decades am well-versed in such things. But that's not the point here.

Anyway, I got into my account and can access it again.

But then, today, my wife had the same thing happen. We called the number (after verifying it on their site, as I am not getting scammed) and the guy "did some research" only to report back that a ticket has been opened with the back office and they'll be reaching out to us next week. So, my wife is cut off from her funds until Fidelity personnel can find it in their heart of hearts to contact her.

It's end of month. I make transfers from retirement accounts so I can pay bills. Cutting us off from our money is never the answer to security. If someone is trying to hack us, you should have 24x7 support to ensure we can rectify the situation ASAP. Of course, the words coming out of my mouth had the guy on the other end hang up. Unacceptable. Simply inconceivable.

So, buyer beware, I am no longer recommending Fidelity to family and friends as a place to do business -- much less secure my money. That's a good one: Fidelity is so secure that not even I can access my money when I need it.

Go Fidelity!!

NOT.

[manaboutown]

I had a few bad experiences with Fidelity over the years so I no longer use them.

[Boomer]

I have had to call a couple of times, but that was because of in-a-hurry, repeated typos on my end. It was my fault and I am glad they bounced me.

I memorize my important passwords but sometimes I type too fast and hit the wrong keys. (I do have them written down in a place with other info that could be needed, but they are also in my head because that’s my password-keeper of choice.)

I was content when things were simpler and our money was not floating around in cyberspace. But this way is here to stay and Fidelity is as good as any big custodian. They have my voice, too. I am not a fan of that but at least they do not have my face — yet.

I never use public wi-fi or do money stuff on my phone or iPad that I could lose when taking them out of the house. Yeah, I know, some will think that makes no difference but I don’t care. Money stuff happens with me at my desk on my laptop in my house.

I hope you let us know what happened with your account when you find out.

Boomer

[retiredguy123]

I have accounts at Fidelity and Vanguard, and I have been satisfied with the security. Both companies have assured me that they will never transfer money to any third party at any time. I have my checking account linked to Fidelity and Vanguard, and that is the only way they will transfer funds. I also have alerts established that will send me an immediate email whenever there is ever a transaction initiated.

OP, can you suggest another investment company that has better security?

[Caymus]

When I set up monthly withdraws from my 401K, "I think" they told me voice identification was part of the security.

[Pugchief]

Generally speaking, Fidelity is top notch in both customer service and security. Every once in a while, there is some glitch, although the OP's issue seems excessive. Never heard that one before.

Probably not a bad idea to keep a month's worth of expenses in another institution if you can, just in case.

If you don't have an assigned financial advisor at Fidelity, you can go to the LSL office on Monday and try to resolve in person.

[Boomer]

Originally Posted by Caymus

When I set up monthly withdraws from my 401K, "I think" they told me voice identification was part of the security.

You’re right. I really am OK with it. I am sure Fidelity has some kind of sophisticated, ultra high tech thingy to read all the nuances in voices.

My sister, my daughter, and my granddaughter have all been mistaken for me on phone calls. But none of them will try to scam into my Fidelity account — I guess.

One of the reasons I stick with Fidelity is because they are not publicly traded so they do not have a. bunch of stockholders in line to be paid from profits. Vanguard has no stockholders, but I like access to a bricks-and-mortar location. Schwab has that but Schwab has stockholders.

I am sticking with Fidelity. Besides, I don’t want to learn a new website.

Boomer



.

[tophcfa]

Originally Posted by retiredguy123

I have accounts at Fidelity and Vanguard, and I have been satisfied with the security. Both companies have assured me that they will never transfer money to any third party at any time. I have my checking account linked to Fidelity and Vanguard, and that is the only way they will transfer funds. I also have alerts established that will send me an immediate email whenever there is ever a transaction initiated.

OP, can you suggest another investment company that has better security?

Same here, both are outstanding companies and the majority of our retirement investments are split between there two. Never had a security problem, but if I did I would prefer it is them erring on the side of being over cautious.

[CoachKandSportsguy]

change both your user name and your password. wherever possible, my user name is long and somewhat random, and so is the password. The criminals have to find/guess two long unrelated somewhat random strings, and I change both password and username together when I have to

I have Fidelity, Vanguard, and Wells Fargo, plus two checking bank accounts. .

I also use Active Trader Pro for Fidelity, seldom use the website, and I try to avoid the website at all costs.

[rjm1cc]

How would you expect them to verify that someone calling on the phone should have access to your account?
I have had problems with my accounts and they were very good at helping me.
I would keep two brokerage accounts, two checking accounts and several credit cards so if one was hacked or a problem came up life could go on while the problem was fixed. For example my SS check and my wife's goes to different institutions.

[Babufrick]

Use biometric login. No issues

[M2inOR]

Missing from the discussion so far, is to be sure you ha 2 factor authentication.

I've had Fidelity for 7+ years.

Username, complicated password, and 2 factor authentication. Additionally, I get an alert anytime the account is accessed.

I have one account linked to Citizens First Bank, and a Fidelity credit card account linked to pay the monthly bill.

That account only has a small amount available for cash transfers. The other accounts are otherwise locked and require unlocking for any transfers.

Talk to Fidelity to make sure you are using all the available security features.

[Rwirish]

One word about Fidelity - Outstanding.

[huge-pigeons]

Passwords aren’t a big deal? You know because you were in tech? That’s so not true! Passwords are your 1st offense against cyber crimes. Decades ago, you didn’t have 2FA, and a lot of people probably don’t use it today which everybody should.
All passwords should be over 16 characters long, with 1 or 2 special characters like @,%,$,!, a couple uppercase letters, and you should not use the same password for more than 1 login. If you follow this, it will take over 100 years for a program to decipher it.
https://www.euronews.com/next/2024/0...ssword-in-2024
Just a moment...

Fidelity, Schwab, vanguard, Morgan Stanley, and others are all secure. I’ve used all of these but only use 1 of them now. If you are transferring funds monthly, you should setup an automated schedule to perform these transfers automatically. What happens if you get in an accident and in icu, does your wife know how to transfer? What happens if she’s in the accident with you? Automate! If you know your paying $10,000 in taxes in December, put in the request to transfer money months in advance.

[SaucyJim]

Originally Posted by retiredguy123

I have accounts at Fidelity and Vanguard, and I have been satisfied with the security. Both companies have assured me that they will never transfer money to any third party at any time. I have my checking account linked to Fidelity and Vanguard, and that is the only way they will transfer funds. I also have alerts established that will send me an immediate email whenever there is ever a transaction initiated.

OP, can you suggest another investment company that has better security?

Why? Sounds like you don’t need that. My statement is about my experience - no one else’s. Locking anyone out of their account, regardless of reason, without 24x7 recourse for resolving the issue, is unacceptable for me. And a JOKE.