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How are switch transactions dealt?

Switch instructions received before the dealing cut-off time of 11am will normally be processed within the course of two consecutive working days.

Please note that your money will be out of the market during this time.

A switch is essentially an instruction to sell an investment and buy another. When you send us a switch instruction, we pre-fund the buy instruction. This means you don’t have to wait for the money to settle from the sell trade before the buy deal is placed. As a result, switch transactions are usually processed over the course of two consecutive working days.

Fidelity does not charge you for placing a switch instruction, however individual fund providers may apply buy/sell charges and/or bid/offer spreads.