The Fidelity the $100 bonus for opening their Cash Management Account is no longer available. 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.
Fidelity Cash Management Account
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.
Update 4/23/24: Starting June 15, 2024, the money in your Fidelity Cash Management account can be in the default high-yield SPAXX money market fund.
Fidelity Cash Management $100 Bonus *Expired*
- 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
(Expired )
| BMO Smart Money Checking ($300 cash bonus) | BMO Smart Advantage Checking ($300 cash bonus) |
| Bank of America ($300 bonus offer) | Chase Total Checking® ($300 bonus) |
| Truist Checking ($400 bonus) | SoFi Checking and Savings ($325 bonus) |
| KeyBank Key Smart Checking ($300 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.
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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.