Does anyone have a fidelity cash management account?

1) would you recommend? Why? Why not?
2) do you use this as your primary bank account?
3) any specific benefits / drawbacks?

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1) Yes, it’s free and easy. Links with other Fidelity accounts.
2) Yes
3) If you have a cash account you can get their credit card which has 2% cash back on all purchases with no limit, but have to have very good credit to get it. Easy to use app to deposit checks, etc

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You need it or another eligible Fidelity account to get 2% instead of 1%

1 - Yes, I recommend it to others all the time
2 - yes. I have a local account that also that I ach transfer to when I need a bank check or a local bank as a notary.
3 - refund all ATM fees globally, no fees, great service. I think even wires are free. 2% card reimburses cash to the CMA monthly.

I’ve had it for a long time, probably 20 years. Never needed to think about moving.

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One downside. The 2% cash back card does charge a 1% fee on foreign transactions. I don’t believe the debit card does.

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What Gh1 said plus:

3) They will reimburse up to $300 of ATM fees per year the last time I reviewed the fine print.

Comes in very handy on international trips and in general.

They give excellent exchange rates on international withdrawals btw.

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What is the interest rate for Fidelity's CMA?

Basically 0% right now and it was never high to begin with.

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