BLOCKBTC
Blocknet / Bitcoin
crypto

u/FidelityJennyK ,
I don't believe you are correct. I believe that currently MTL does NOT prevent outbound ACH transfers as long as they are being created outside Fidelity. I believe Fidelity refers to them as "direct debits". You cannot initiate the outbound transfer from inside fidelity while MTL is on but they can be created or sent as ACH PULLs for outside Fidelity. Is there something I am missing? Does MTL now block the establishment of new "direct debit" arrangements? If so, that may be really attractive.
Maybe I misunderstand it but I think Fidelity needs a more nuanced policy. Even though I want MTL, my "CMA as my checkbook" would die if my utilities, credit cards, sanitation, insurance, HOA, etc. payments could not be processed as ACH direct debits. At the same time though, for a lot of clients and accounts, it would be nice if MTL did block ACH direct debits.
I would suggest the client should be allowed to configure MTL on each Fidelity account to BLOCK:
ACATS/WIRE outbound transfers: Y
ACH "Direct Debits" : Y/N
Fidelity transfers to established (per-arranged) external banks or FI accounts: Y/N
Fidelity transfers to other Fidelity Accounts: Y/N

Jesus. BLOCK.