Advertising Disclosure
  1. Home
  2. Community
  3. Ask
  4. Fidelity Cash Management Account (CMA) Experience?

Fidelity Cash Management Account (CMA) Experience?

MAKNYC
  |     |   323 posts since 2015

Fidelity brokerage offers an alternative to a bank checking account called a Cash Management Account. Deposits are swept into program banks that all pay the same rate, currently 2.21%. The account is specifically designed as a spending account as opposed to an investment account. It is not heavily promoted by Fidelity and the phone rep I spoke with was clearly unfamiliar with its distinction from their cash management features of their standard brokerage accounts. My question is has anyone had this specific account that could provide a basic summary of the historical interest rates provided? The website only provides the current rate.

  Post an answer
2


Answers
GH1
  |     |   1,054 posts since 2017
Its just like a checking account. They send you checks and a debit card. No issues with it here. Yes smaller interest rate. But overall fidelity has been a good company to deal with
Reply
3
jack12
  |     |   307 posts since 2021
I think it's standard with a brokerage account. And If its specifically designed to be a spending account versus a brokerage account its news to me after 25 years or whatever
Of course, I opened it for the brokerage account- I think I had them send checks when i opened the account

I recall one rep saying you can have more than one but I never did it

You can buy SPRXX within the cma for a much higher yield

Yield as of 12/22/2022
1 Day 7 Day
4.14% 4.13%
Reply
1


The financial institution, product, and APY (Annual Percentage Yield) data displayed on this website is gathered from various sources and may not reflect all of the offers available in your region. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. The content displayed is for general information purposes only; always verify account details and availability with the financial institution before opening an account. Contact [email protected] to report inaccurate info or to request offers be included in this website. We are not affiliated with the financial institutions included in this website.