There’s often a Fidelity account promo for making a new account with the brokerage, and this is the current one. Read on for the breakdown!
Bonus
$100 cash in your account.
You’ll get the bonus within 25 days of signing up.
Requirements
Deposit $50 into your new account within 15 days of opening it.
The accounts that qualify for this promo are
- The Fidelity Account®
- Fidelity® Cash Management Account
- Roth IRA and Traditional IRA
- Fidelity Go®
As well as the Starter Pack, which includes the Fidelity account and the cash management account.
Clawback alert: You must keep the cash reward in your Fidelity account for 90 days after receiving it
Exclusions
One per customer, and those who took advantage of previous deposit $50 promos can’t get this bonus.
Fees
There are no monthly fees to worry about.
Benefits
The Cash Management account has a few neat benefits:
- The ability to get free checks and a debit card
- ATM fee reimbursements (though there may be a 1% fee for foreign transactions, so it’s not as good on that as the Schwab account
- A 2.47% APY on money in the account, as of 5/04/23
Deadlines
There’s no specific deadline listed.
Notes
The bonus was a bit higher in the fall of ’22. Then it was $150 for a deposit of $50.
It’s always a bit of a gamble to try and wait for a better offer. It might go higher or lower, and who can say which?
Whether to do it now or wait, it’s up to you!
Making sense of the different fidelity accounts
There’s one thing that can be confusing about this offer: which account to get. As I said above in the requirements section, several of their accounts qualify for the bonus.
The basic option that the site advertises is opening a Fidelity Starter Pack, which includes the Fidelity Account and the Fidelity Cash Management Account.
The Fidelity Account is a traditional brokerage account that lets you buy and sell investments, and the Cash Management Account is, as you would assume, a cash management account.
Not sure what a cash management account is?
Check out my Bank Bonus Starter Guide for that and much more.
You can also open an account of your choice, and in addition to the two above accounts, opening an IRA (Roth or not) account or a Fidelity Go account will also qualify for the promo. The Go account is an automated investing account with a robo advisor.
In the past Fidelity has offered bonuses that can be obtained by people who already have some kind of Fidelity account, as long as they sign up for a new one. It’s not guaranteed of course, but if you’re interested in that you might want to only open one account for the promo.
The Fidelity Account or the Cash Management account would probably be the easiest to deal with. It just depends on whether you’d like to buy stocks or have an account to spend and save with.
The Fidelity Account Promo in conclusion
The bonus is solid and the requirements are easy.
The Fidelity “ecosystem” is interesting, with a variety of different accounts. The generally have a good reputation and provide lots of financial tools for people who are inclined to learn. The promo is a good way to get your foot in the door and expore Fidelity a bit.
Remember that if you opt in to margin trading a hard credit check might take place!
Ready to make a Fidelity account?
Feel free to comment how it goes for you below!
