Your own bank or credit union is the best place to cash a Fidelity check, because it is typically free for account holders and the most secure method. If you don't have a bank account, your next best options are mobile deposit (if you have any account elsewhere), major retailers like Walmart, or check-cashing stores as a last resort.
Deposit it into your bank or credit union account
Depositing the check at your own bank or credit union is the most straightforward and cost-effective route. Since you already have an account, the teller or ATM can process the deposit without charging you a fee, and the funds are usually available within one to two business days.
Step-by-step deposit with a teller
- Endorse the back of the check by signing your name exactly as it appears on the front.
- Bring the check and a valid photo ID (driver’s license or passport) to your local branch.
- Hand both to the teller and specify that you want to deposit it into your checking or savings account.
- Keep the receipt they provide, it includes the deposit amount and date.
Deposit via ATM
- Insert your debit or ATM card and enter your PIN.
- Choose “Deposit Checks” and follow the on-screen prompts.
- Endorse the check and write “For deposit only to account #______” on the back before inserting it.
- Confirm the amount on the screen and take your receipt.
If you don’t have an account at the bank, they may charge a fee to cash a check for you, typically $5 to $10, and they may place a hold on part of the funds. Avoid this by using your own bank whenever possible.
Use your bank's mobile app for instant deposit
Mobile check deposit is the most convenient option because you can deposit the Fidelity check from your phone without visiting a branch or ATM. This is especially useful if you have a bank account but are short on time.
How to deposit via mobile app
- Log into your bank’s mobile app and select “Deposit Check.”
- Endorse the back of the check and write “For Mobile Deposit Only” directly beneath your signature, this prevents anyone else from cashing it if the check is lost.
- Photograph the front and back of the check in good lighting, ensuring all corners are visible.
- Enter the exact amount from the check and confirm the destination account.
- Submit and wait for the confirmation screen, most banks show “Deposit Received” instantly.
Cash it at a major retailer
If you don’t have a bank account or need cash immediately, major retailers like Walmart, Kroger, and most grocery store customer service desks offer check cashing.
What to expect at a retailer
- Bring valid government-issued ID (driver’s license, state ID, or passport).
- Endorse the check in front of the cashier, they may require you to sign it in their presence.
- Pay the flat fee or percentage (usually 1% to 3% of the check amount).
- Receive cash immediately, or load the amount onto a prepaid debit card if the retailer offers that option.
Call ahead to confirm they accept Fidelity checks, since some retailers only cash payroll or government checks.
Avoid check-cashing stores if possible
Dedicated check-cashing stores like ACE Cash Express or Check ‘n Go charge the highest fees, often 2% to 5% of the check’s value, plus a flat fee. For a $500 check, that could mean $25 in fees, which is money you’d lose for no added convenience. Use them only if you have no bank account, no retailer nearby, and you need cash that same day.
If you must use one, compare fees at two or three locations and confirm the total cost before handing over your check. Always get a receipt and count the cash in front of the clerk.
Skip the paper check next time
To avoid this hassle entirely, set up direct deposit or an electronic transfer from Fidelity to your linked bank account. Log into your Fidelity account online, go to “Accounts & Trade” → “Transfers,” and add your bank’s routing and account numbers. Then choose “Electronic Transfer” for future withdrawals, funds typically arrive within one to three business days, and there are no Fidelity fees for this service.
If you prefer a debit card option, consider opening a Fidelity Cash Management Account, which includes free checks and a debit card, allowing ATM withdrawals once funds are cleared. This way, you can access your money without ever receiving a paper check again.
For large withdrawals, remember that online or telephone requests for checks are limited to $100,000 per account, and if your mailing address changed within the past 15 days, the limit drops to $10,000. Checks sent by mail usually arrive in five to seven business days, so plan ahead if you need funds by a specific date.
