How to Transfer a Fidelity Account to Schwab
Do you have an account at Fidelity? Would you like to try Charles Schwab? If so, you can usually transfer your account to Schwab and begin trading there. Here is the lowdown on making the change:
Transfer from Fidelity to Schwab
A brokerage or investment-advisory account can be moved out of Fidelity into either account type at Schwab, subject to asset and account-type compatibility. Fidelity Go, the company’s automated service, typically transfers out as cash, and Schwab Intelligent Portfolios generally accepts cash only for incoming transfers. These policies can affect transfers that involve a robo-advisor account on either end.
Step 1: Now that you know what you’re transferring out of and what you’re moving into,
you need
to get that receiving account open. It’s very easy to open a new investment account at Schwab on
either the broker’s website or mobile app. Just look for the orange button on the website to open a new account, or use the account-opening feature in the mobile app. An existing account will work if it meets the following two requirements:
(1) Same account type as the outgoing account (such as custodial, joint, or IRA)
(2) Same name on it
If either of these conditions is not met, a new account will need to be opened. In some situations, it may be possible to update the account type or registration so it matches.
Step 2: While the Schwab account is being opened, it’s time to go over to Fidelity and prepare the account for the upcoming transfer. As mentioned, if this is an automated account, holdings will usually be liquidated and converted into cash before the transfer. A self-directed account does not need to be liquidated, although some positions may still require preparation.
For example, some over-the-counter securities may not be transferable into Schwab, even though Schwab allows trading in certain OTC stocks. Options that are very close to expiration may also be ineligible for transfer. Cryptocurrencies cannot be moved through the Automated Customer Account Transfer Service (ACATS), which is the method being used here.
If any position cannot be transferred, it should be handled in one of three ways:
(1) Liquidated
(2) Moved to a second Fidelity account
(3) Left behind in a partial transfer
Cryptocurrencies at Fidelity are held in a separate crypto account and should simply be excluded from the transfer request.
Fidelity offers access to foreign stocks, and many of these securities can be transferred through ACATS. Although Schwab also supports foreign stocks, it may not support every exchange or security available at Fidelity. It’s a good idea to confirm with Schwab before trying to transfer less common international positions.
A full-service wealth management account at Fidelity is still an investment account and can be transferred out through ACATS. However, some investments available through Fidelity’s advisory programs may not be supported at Schwab and could require liquidation or exclusion.
Step 3: At this point, the Schwab account should be fully open and ready to receive the transfer. It may also need some setup. For example, if options contracts or margin positions will be transferred from Fidelity, these features must be enabled on the Schwab account. Be sure to select the appropriate options approval level, since the receiving account must be approved to hold the transferred strategies.
Step 4: Next, submit the transfer request. As noted, this is done through the ACATS network and is fully electronic. The ACATS request is initiated with the receiving firm, which in this case is Schwab. Once the Schwab account is open and approved, log in and follow the steps in Schwab’s Transfers & Payments section to begin the account transfer.
On the first page of the application, select Fidelity as the outgoing firm. Schwab provides a list of firms, and choosing Fidelity will populate the form with the correct details.
On the following pages, specify the account structure (the account types must match) and enter your Fidelity account number. You will also be able to choose between a full or partial transfer. With a partial transfer, the Fidelity account stays open and you can select specific holdings or a portion of cash to move. A full transfer generally moves all eligible assets and may result in the Fidelity account being closed.
Complete the remaining steps, review the information carefully, and submit the ACATS request. Once Schwab receives the application, it will notify Fidelity and the two firms will process the transfer.
Step 5: Finally, keep an eye on the transfer request. If anything looks incorrect, contact Schwab for help.
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Bank Accounts
Schwab checking and savings accounts cannot receive ACATS transfers. Fidelity’s cash management accounts are brokerage accounts, so they can be used to transfer securities and cash through ACATS into a Schwab brokerage account, provided the receiving account is an investment account.
Fractional Shares
Fractional shares generally cannot be transferred through ACATS. Only whole shares are usually transferred, while the delivering firm typically liquidates the fractional portion and sends the cash proceeds to Schwab. You can choose to sell these fractions yourself or allow Fidelity to convert them to cash before delivery.
Cost of an ACATS Transfer
Fidelity does not charge a fee for outgoing ACATS transfers. Schwab does not charge a fee to receive ACATS transfers.
How Long Does an ACATS Take?
Many straightforward transfers are completed in about 3 to 5 business days, although transfers involving less common assets or errors in the request can take longer.
Updated on 4/6/2026.
Chad Morris is a financial writer with more than 20 years experience
as both an English teacher and an avid trader. When he isn’t writing
expert content for Brokerage-Review.com, Chad can usually be found
managing his portfolio or building a new home computer.
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