Fidelity Cash Management Account & Fidelity Debit Card: ATM Reimbursements Worldwide

The Fidelity Cash Management Account is a free brokerage account that’s FDIC insured up to $1.25 million and earns a little interest. Because it also reimburses all your ATM fees worldwide when you use the linked Fidelity Debit Card, this bank account alternative is a good option for frequent travelers. Keep reading for more on the Fidelity Cash Management Account to see if it’s a good fit for you.

See the $150 bonus when you open a Fidelity Cash Management account here.

Charles Schwab also offers a fee-free cash management account with worldwide ATM reimbursements that’s very popular with travelers.

Fidelity Cash Management Account Features

The Fidelity Cash Management Account is a brokerage account, designed to house your idle cash when not invested in other Fidelity products. It operates much like a checking account in that it provides a debit card, check-writing and FDIC protection through partner banks. But it doesn’t come with the usual bank fees associated with a checking account.

Other features include:

• No minimum balance requirements.
• Mobile check deposit.
• Free bill pay.
• Interest-earning, currently 0.01% APY (check their site for updates)
• Cash Manager, which 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

If you’re in the market for a fee-free account with solid ATM coverage, a Fidelity Cash Management Account could be a good option. Your idle funds will go into readily-accessible, FDIC-insured bank accounts that are interest bearing. And with no ATM fees worldwide using the Fidelity Debit Card, it’s a good choice for those who travel often.

You might also want to consider a cash management account from SoFi. It comes with a debit card as well, but usually has a bit better interest rate.

Also consider these other bonuses from Chase, HSBC, and Qapital. Find more bank promotions here.

READ MORE: SEE THE BEST BANK BONUSES HERE AND THE BEST INVESTING BONUSES HERE.