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Strategies & Market Trends : DAYTRADING Fundamentals -- Ignore unavailable to you. Want to Upgrade?

To: TraderAlan who wrote (10609)	11/9/2000 3:24:25 PM
From: Eric P	Read Replies (5) \| Respond to of 18137

Amusing memories of Fidelity... As some people might remember, I opened a Fidelity Spartan account last year to test out their order executions. After being dissatisfied with their firm(#reply-10841636), I quickly 'closed' my account after a few trades. Several months later, I received a quarterly statement indicating an account balance of ~$53. Inquiring why my 'closed' account still had a balance of $53, I was told that since I closed the account mid-month, and that at month-end my account was credited with $53 in interest accrued prior to closing the account. Apparently, their computers will not fully close the account mid-month, and perhaps is unable (or unwilling) to calculate the MTD interest due to include with the check to close the account. Anyway, I left the $53 in the account for many months thereafter, since it was more of a headache to close the account then simply throw away a quarterly statement every three months. In October, I got my Q3 report and decided I'd finally take care of this. I called and closed the account, subsequently receiving my check in the mail for $53. Well, this week I got another Fidelity Spartan statement indicating an account balance of $0.01!!! Another stinkin' penny of interest which was not paid out at account closing. How do you get rid of these guys??? I called them on the phone and asked that they keep the penny as my gift and close the account immediately. They agreed, and hopefully, this is the last I will hear from them. Almost seems like they have a policy designed to keep their 'customer' counts up. -Eric