Short Answer: Fidelity uses a third-party check verifier for check deposits. The verification process usually takes around 48 to 72 hours. For more details, see below.
Fidelity Check Verification Process
When you attempt to deposit a check that is written to your non-retirement or retirement account, Fidelity will run your check through a third-party verification company in order to determine whether or not it is legitimate.
To confirm the check verification process, we contacted Fidelity customer service representatives, who were able to confirm that the investment company uses a third-party check verifier, but couldn’t confirm which company it uses.
After receiving a check to deposit, Fidelity will immediately credit it to your account, then begin the verification process through its third-party check verifier. It generally takes 48 to 72 hours for the check to pass through this process.
If the check isn’t approved, the credit will be removed from your account. However, Fidelity will not charge you a fee for a check that fails verification.
What to Do If Your Check Fails Verification
Should Fidelity reject your check, your next course of action is to contact the party who issued you the check and obtain a new one. If you’d like to verify the new check before you deposit it to your Fidelity account, see our research on individual check verification options.
If you believe an error has been made, you have 30 days from the receipt of your Fidelity statement to identify any items (including check deposits) that you consider erroneous and contact Fidelity. You can do so by phone at (800) 343-3548 or by logging into your Fidelity account and sending a secure message.
If you fail to contact Fidelity during this period, Fidelity will conclude that all charges are correct, and you will not be able to hold the company liable for any errors.