How Does Fidelity Bill Pay Work? A Detailed Guide

Fidelity Bill Pay is a convenient online bill payment service offered by Fidelity Investments that allows you to easily pay bills and manage finances from your Fidelity account. With Fidelity Bill Pay, you can schedule one-time or recurring payments, receive and view electronic bills, set payment reminders, and more. Here is a detailed guide on how Fidelity Bill Pay works and how to use its features:

Getting Started with Fidelity Bill Pay

To use Fidelity Bill Pay, you need to have a Fidelity Cash Management Account (CMA) or Fidelity brokerage account Once you have an eligible account, you can enroll in Bill Pay through the Bill Pay tab in your account

The enrollment process is simple – just enter some basic information and confirm your account Then you can start adding payees and scheduling payments right away Some key things to note

• Bill Pay is free for Fidelity customers – there are no monthly fees or transaction charges.

• You can pay almost any company, merchant or individual in the U.S.

• Payments can be made from your Fidelity CMA core account or your Fidelity brokerage account.

Adding Payees

To make a payment with Bill Pay, you first need to add the payee (the person or company you want to pay). Fidelity has a payee directory with thousands of popular billers pre-loaded, so you can often find the payee you need without entering any additional details.

To add a payee:

• Go to the Bill Pay tab and click “Add Payee”

• Search for the payee name

• Select the correct payee from the list of matches

• Confirm the payee details like address

• Click “Add Payee” to finish adding them

If the payee you want to pay is not in the directory, you can manually enter their info. You’ll need details like their name, address, account number, and phone number.

Once a payee is added, they remain in your payee list for future payments. You can add up to 300 payees to your Bill Pay account.

Scheduling One-Time and Recurring Payments

Scheduling a payment with Fidelity Bill Pay is simple. Just select the payee, enter the payment amount and date, and submit the payment. Here are the steps:

For one-time payments:

• Go to the Bill Pay tab and click “Pay a Bill”

• Select the payee from your payee list

• Enter the payment amount and delivery date

• Select a delivery speed (standard or express)

• Confirm the details and submit the payment

For recurring payments:

• Go to the Bill Pay tab and click “Add Recurring Payment”

• Select the payee

• Enter the payment amount

• Set frequency (weekly, monthly etc.) and start date

• Confirm details and submit

The recurring payment will be automatically sent on the schedule you set. You can edit or delete the recurring payment at any time.

Fidelity will withdraw the payment amount from your Fidelity account on the scheduled date. For one-time payments, you can schedule the payment up to 365 days in advance.

Payment Delivery Speeds and Limits

Fidelity Bill Pay offers two delivery speeds for sending payments:

Standard Delivery: 5-7 business days via mail; free

Express Delivery: 2-3 business days via electronic transfer; $14.95 fee per payment

The delivery estimate is based on when the payee receives the payment, not when it is debited from your Fidelity account.

There are some limits on Bill Pay payments to be aware of:

• Maximum standard payment is $100,000

• Maximum express payment is $2,500

• Daily limit across all payments is $100,000

• Monthly limit is $200,000

Tracking Payments and Payment History

Within your Bill Pay account, you can easily view pending payments as well as your payment history.

To track payments:

• Go to the Bill Pay tab

• Click “Payment Activity” to view pending and posted payments

• Click on any payment to see the details and status

• Use the filters to search for specific payments

Your payment history is stored for 18 months. You can search and sort this history to analyze payments and spending over time.

Receiving and Viewing eBills

Many billers allow you to receive bills electronically through Fidelity Bill Pay. This lets you view and manage bills without having to deal with paper bills.

To set up eBills:

• Go to the Bill Pay tab and find the biller you want to receive eBills from

• Click “Update Biller Settings”

• Opt-in to receive eBills and submit your email address

• The biller will start sending your bills digitally

To view eBills:

• Go to the Bill Pay tab and click on “eBills”

• Select a biller to see your eBills from them

• Click on any eBill to view the full details

You can opt out of eBills at any time if you prefer paper billing. Received eBills remain accessible in Bill Pay for 18 months.

Setting Up Alerts and Reminders

To help you stay on top of your bills, Fidelity Bill Pay has customizable alerts and reminders.

You can set up:

• Email alerts when a new eBill arrives

• Email reminders X days before a bill is due

• Text alerts when a payment is made

To set reminders:

• Go to the Bill Pay tab and click “Reminders”

• Choose the payee and select reminder type

• Pick the # of days before due date for the reminder

• Set the frequency and confirm settings

The reminders will be sent on the schedule you set. You can modify or delete reminders at any time.

Paying Bills via Mobile App

In addition to the online Bill Pay platform, you can also access and use Bill Pay via the Fidelity mobile app. This allows you to pay bills and manage payments on-the-go.

Key features of Bill Pay on mobile:

• Schedule one-time or recurring payments

• Add new payees

• View pending and posted payments

• Manage payees and reminders

• Receive bill pay alerts

The mobile Bill Pay experience provides the same key functions as the online platform. You can seamlessly switch between desktop and mobile.

Getting Support for Fidelity Bill Pay

If you ever have questions or issues using Fidelity Bill Pay, Fidelity provides the following support:

• Bill Pay customer support – Available 24/7 at 800-343-3548

• Online help content – Articles and FAQs on using Bill Pay features

• Secure online chat – Chat with a Bill Pay specialist

• Account support – Talk to a Fidelity representative if needed