u/AnonHere2973

At least according to Google AI, both UMB bank (the bank that seems to be the connection point for bank ACH transfers to/from Fidelity) and Fiserv (the provider that supplies Fidelity's BillPay service) participate in the Fed's new FedNow FI/ACH network. FedNow looks like an amazing upgrade to the old ACH/FI infrastructure.

It looks like FedNow could provide nearly instantaneous confirmed transfers as well as many other things.

If Fidelity's underlying providers are connected to FedNow, are there any plans to allow Fidelity's customer's traffic to transvere the FedNow network?

I have a Fidelity broker account that is the Fidelity overdraft protection for our Fidelity CMA account. It contains a couple of MMFs. The Fidelity website defines "Available to Withdraw as "Available to withdraw is the amount collected and available for immediate withdrawal. This balance includes both core and other Fidelity money market funds held in the account. This balance does not include deposits that have not cleared. Sell orders are reflected in this balance on settlement date and Buy orders are reflected on trade date."

I have not encountered any problems but I just want to be sure I understand how this works. Assuming there are no pending, in progress, or planned activities in the overdraft protection account, is it safe to always assume that the "Available to Withdraw" amount would be available and will be used to cover any potential overdraft in the CMA account? Are there any exceptions or situations where those funds would not be considered available?