Available nationwide, Fidelity is offering $100 bonus for opening their Cash Management Account. The Fidelity Cash Management Account is a fee-free brokerage account that’s FDIC insured up to $1.25 million and earns a little interest.
In addition, Fidelity also reimburses ATM fees worldwide when you withdraw using the linked Fidelity Debit Card. This bank account alternative is a great option to consider, especially if you’re a frequent traveler.
To qualify for the bonus,
- Use promo code FIDELITY100 when opening the Fidelity® Cash Management Account.
- Fund your account within 15 days by depositing $50 or more.
- They’ll deposit $100 within 25 days of your account being opened.
Fidelity Cash Management $100 Bonus
- What you’ll get: $100
- Availability: Nationwide
- Direct Deposit Requirement: No
- Credit Inquiry: Soft pull (make sure not to opt in for margins on the brokerage account)
- ChexSystems: Unknown
- Credit Card Funding: None
- Monthly Fees: None
- Early Account Termination Fee: None mentioned
- Household Limit: None listed
(No Expiration Date )
| You can compare this to several great entry level Checking accounts with offers include the BMO Smart Money Checking ($400 bonus), Bank of America ($200 bonus offer), U.S. Bank Smartly® Checking ($1000 bonus), Chase Total Checking® ($200 bonus), SoFi Checking and Savings ($275 bonus), Fifth Third Bank Momentum® Checking ($200 bonus). |
Fidelity Cash Management Account Features
The Fidelity Cash Management account was designed to hold your idle cash when you’re not investing in other Fidelity products. Similarly to a checking account, it comes with a debit card, check-writing, and FDIC protection through partner banks. The main difference is that it doesn’t come with the usual bank fees that are associated with a checking account.
- No minimum balance requirements
- Mobile check deposit
- Free bill pay
- Interest-earning, currently 0.01% APY (check their site for updates)
- Cash Manager. This feature alerts you when you reach a maximum and minimum balance.
- Move or invest the excess cash when you reach your maximum target, or automatically move money from another account when you reach your minimum threshold.
- Wide ATM access at more than one million ATMs worldwide.
- Unlimited ATM fee reimbursements worldwide (a 1% foreign transaction fee still applies).
- Support via phone 24/7, as well as live chat and Twitter.
- Learning center with videos, articles and webinars on a wide range of financial topics.
Bottom Line
For a fee-free account with solid ATM coverage, take a look at Fidelity Cash Management Account. This is a great way to store your idle funds in a readily-accessible, FDIC-insured bank accounts that are interest bearing. The no ATM fees feature is available worldwide using the Fidelity Debit Card and makes this card a good choice for those who travel often.
An alternative to Fidelity is Charles Schwab. They offer a fee-free cash management account with worldwide ATM reimbursements that’s very popular with travelers.
If you’re looking for more cash management accounts, then check out SoFi. It comes with a debit card as well, but usually has a bit better interest rate.