Proof of Funds or Balance Confirmation for Fidelity Accounts

When you buy real estate or apply for a loan or a visa, you may be asked to present proof of sufficient funds. You can submit an account statement, but a statement contains much more information than they need to know. You only need to show that you have more than a certain amount. You don’t want to give them your account number, exact balance, or transaction details.

The party you’re disclosing the information to may not have good security. Who knows what will happen to your document after you submit it? The less information you disclose, the better. For instance, the account number of a brokerage account is a key piece of information for an asset transfer (see Protect Your Brokerage Accounts From ACATS Transfer Fraud).

Some financial institutions make it easy to create a proof of funds or balance confirmation. They only include minimal information without oversharing. Because I ditched banks and only use a Fidelity account for day-to-day cash flow, here’s how I generated a proof of funds or balance confirmation for a Fidelity account.

Log in to Fidelity’s website. Select an account on the left. Click on the Balances tab, and then the three dots on the right.

Click on “Create balance letter” in the pop-up.

If you enabled Fidelity’s Money Transfer Lockdown for your accounts, you’ll see an error saying “There are no eligible accounts to generate a letter.” Turn off the Money Transfer Lockdown and try again. Select one or more accounts you need for the balance confirmation.

You have the option to show the total balance or a specific balance. The custom amount is a better option for privacy. When you give the minimum amount you need, the letter will say this:

Please accept this letter as confirmation that as of market close on [date], you held a balance in excess of $[amount] in cash and securities in your portfolio at Fidelity Brokerage Services.

The proof of funds letter bears the Fidelity letterhead, includes your name and address, and is signed by a Fidelity officer. It doesn’t have your account number, the exact balance, holdings, or any transaction details.

Remember to re-enable Money Transfer Lockdown if you turned it off to generate the letter.

Vanguard or Schwab may also have a similar process to do this. I don’t know how because I don’t have accounts there. Call customer service if you don’t see it on their website.