When reviewing your financial accounts, there’s nothing more disconcerting than reading through and noticing charges that don’t make sense. It’s even worse when the charge has a seemingly incomprehensible code! What on Earth does that jumble of letters actually mean? For example – what is fid bkg svc llc money line charge?
As it happens, the code may be nothing for you to worry about. Here’s everything you need to know, including whether or not you need to make a dispute.
What is the fid bkg svc llc charge?
The fid bkg svc llc money line charge is a fee that arises from Fidelity Investments Brokerage Services.
To be more precise, it’s from a financial services giant with roots over in Boston, MA. The company works with over 40 million investors, 23,000 firms, and 3,600 advisories.
And, despite being based in Boston, the company works all around the world! Specifically, they operate in North America, Asia, Europe, and Australia.
The company’s services include personal investing, retirement planning, asset management, and the management of EFTs, bonds, CDs, annuities, stocks, mutual funds, long-term care, small business retirement plans, 529 plans, life insurance, online trading, health savings accounts, IRAs, and more.
Therefore, if any of the list above sounds familiar – you may well have a charge that you’ve simply forgotten about. If not, keep reading.
Why would the fid bkg svc llc money line charge appear on my account?
If you are seeing the fid bkg svc llc money line charge on your account, then it is most likely that you have investments with Fidelity Investments Brokerage Services. If you are unsure about the amount, then your best course of action is to contact the company directly and ask for their help.
You can also head to the FIBS website directly to check your personal account (if you have one). Via your online account, you should be able to access your monthly and quarterly statements, which should have more information regarding any charges accruing past and present.
You can also access other details such as end-of-year investment reports, trade confirmations, interested party statements, fidelity tax forms, prospectuses, financial reports, quarterly performance reports (for certain qualified customers), and associated account records.
On the other hand, if you do not have any links to this company and have made no payments purposefully, then it could be fraud activity. In this case, it is best to act as quickly as possible to secure your account again! Let’s not panic – here’s what to do.
What if I do not have an account with Fidelity Investments Brokerage Services?
If you do not have an account or even a link at all to FIBS, you should immediately contact your bank or credit card company. You will need to dispute the charges, which, if all goes well, should get the money reimbursed to you.
Notifying your bank or card issuer will also raise fraud flags – meaning additional action may be necessary to re-secure your account. This could mean changing your passwords, resetting PINs, or more preventative measures to ensure your money is back under safe control.
Before You Go…
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What is “moneyline” on my bank statement?
If you see “moneyline” appear on your bank statement, it means that a transaction has taken place via financial reporting software. For example, “fid bkg svc llc money line” as a charge means that Fidelity Investments used MoneyLine to remove funds from your account.
Who owns Fidelity Investments Brokerage Services?
At the time of writing, FIBS is owned by Abigail Johnson & family, who account for less than 50% of the total share in the firm. The majority is owned by employees in the company – including those who have left the brand. 51% of the company belongs to Fidelity’s employees.
Does Amazon own Fidelity Investments?
No – despite rumors suggesting the two are linked, Amazon.com, Inc and FIBS are neither in partnership, nor does the former own the latter.
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