Fidelity
Fidelity Cash Management Account
By Alex Compton · Last verified
A brokerage account for spending cash, with a choice of bank sweep or money-market core
Insurance: FDIC sweep: up to $4 million across program banks, subject to limits and other deposits; SPAXX and money-market overflow are not FDIC insured. SIPC does not cover market losses.
Account Terms History
A dated record of APY, fees and opening requirements. New changes append to this table; prior terms remain visible.
| Observed | APY / yield | Monthly fee | Minimum | Evidence |
|---|---|---|---|---|
| 2026-10-23 | SPAXX 3.52% seven-day yield as of October 22; sweep has a separate variable APY | $0 | None | Fidelity CMA product page and dated SPAXX quote →Source-checked fund quote is not a bank APY. Current FAQ states up to $4 million sweep coverage, subject to limits. |
| 2026-09-07 | Prior editorial estimate: about 2.7% sweep APY or about 3.3% SPAXX seven-day yield | $0 | None | Archive record · no attached snapshotLegacy snapshot without attached primary evidence. These estimates are preserved as history, not current rates. |
Primary-source verification log
Append-only evidence ledger- changed
Clarifies prior ledger entry: current fetched public Fidelity text confirms eligible ATM reimbursement and warns that merchant/ATM dollar conversion can cost more, but does not enumerate the same exclusion list as Schwab. Narrowed Fidelity copy to those confirmed facts; explicit non-withdrawal/DCC exclusions remain attributed to Schwab only.
Fields: atm, sections
Fidelity ATM card and currency-conversion explanation → - changed
Corrected obsolete 1% foreign transaction fee claim. Current provider terms state no foreign transaction fee, eligible global ATM reimbursement and excluded conversion/non-withdrawal charges. Matching comparison and five affected guide picks were corrected without refreshing unrelated guide dates.
Fields: atm, features, cons, ourTake, faqs
Fidelity debit-card fees and ATM exclusions → - changed
Confirmed two core choices, up to $4 million sweep coverage subject to limits, other-deposit aggregation and no FDIC coverage for SPAXX or money-market overflow. SIPC does not insure market losses.
Fields: fdic, pros, cons, sections
Fidelity CMA core and FDIC sweep FAQs → - changed
Confirmed 3.52% SPAXX seven-day yield dated October 22, zero maintenance fee and minimum, existing-customer opening requirement and newer-account investment limitations. Fund yield is not published as deposit APY; old estimated sweep APY is historical only.
Fields: apy, features, sections, faqs, termHistory, lastVerified
Fidelity CMA product and SPAXX quote →
Features
- ▸Choose SPAXX or the FDIC-Insured Deposit Sweep Program as the core position
- ▸No account maintenance fee or minimum opening balance
- ▸No Fidelity foreign transaction fee on debit purchases
- ▸Eligible ATM fees reimbursed worldwide on the day the fee is debited
- ▸Checkwriting, Bill Pay, direct deposit and mobile check deposit
- ▸Currently offered to existing Fidelity customers; newer accounts have a narrower investment menu
Pros
- +A money-market core option for cash used to pay bills
- +Eligible worldwide ATM rebates and no Fidelity foreign transaction fee
- +No maintenance fee or minimum opening balance
Cons
- −SPAXX is an investment with variable returns, not an FDIC-insured deposit
- −Other deposits at sweep banks reduce remaining FDIC capacity
- −Investment expenses and some transaction charges can still apply
- −Current opening eligibility requires another Fidelity account
Our Take
Fidelity CMA is worth considering if you already use Fidelity and want spending features plus a choice of cash investments or a bank sweep. SPAXX can simplify keeping spending cash invested, but its seven-day yield is not a guaranteed annual return. Travelers should compare it alongside Schwab: both currently waive their own debit foreign transaction fees. Choose the core position deliberately and check available-to-withdraw cash before paying bills.
Best for: Fidelity customers who want spending tools and a choice of cash core positions
Open at Fidelity →Last verified 2026-10-23
SPAXX yield versus FDIC sweep APY
Fidelity quoted a 3.52% seven-day yield for SPAXX as of October 22, 2026 on its product page checked October 23. This annualized recent-income measure is variable and is not a bank APY or a promise of a full year return. The FDIC sweep has a separate variable rate. We have not restated an unverified numeric sweep APY; check Fidelity before selecting a core position.
What the insurance options cover
The current CMA FAQ describes up to $4 million in FDIC coverage through program banks. Actual coverage depends on allocation, ownership category and other deposits at those banks. SPAXX and money-market overflow are not FDIC insured. SIPC protection addresses eligible brokerage-custody losses when a broker fails; it does not insure investment performance or prevent a money-market fund from losing value.
Opening a new Fidelity CMA
The current product page says CMA is available to customers who already have a Fidelity account. It also says accounts opened on or after September 28, 2026 are limited to fixed-income products such as bonds and CDs and Fidelity money-market mutual funds. Use a suitable separate brokerage account if you need a wider investment menu. Existing account capabilities may differ.
Debit fees and access to cash
Fidelity currently charges no debit foreign transaction fee. Eligible ATM fees are reimbursed on the day they are debited, which can differ from the withdrawal date. A merchant or ATM currency-conversion offer can add costs. No account maintenance fee does not remove investment expenses or every transaction cost. Check your available-to-withdraw balance; a new deposit is not necessarily immediately spendable.
Frequently asked questions
Is Fidelity Cash Management a checking account?
It is a brokerage account with spending features including a debit card, checks and Bill Pay. Its cash can use a bank sweep or SPAXX core position, with different returns and protections.
Does the Fidelity CMA debit card charge a foreign transaction fee?
Fidelity currently states that it does not charge foreign transaction fees. An ATM or merchant currency-conversion offer can still produce a different exchange rate or extra cost.
Is SPAXX FDIC insured?
No. SPAXX is a money-market mutual fund with investment risk. SIPC does not protect against market losses. The separate FDIC sweep option places deposits at program banks subject to insurance limits.
What was the latest verified SPAXX yield?
Fidelity quoted a 3.52% seven-day yield as of October 22, 2026. The quote was checked October 23. It is a variable recent-income measure, not a guaranteed annual return or a bank APY.
Who can open a Fidelity Cash Management Account?
The current product page says it is available to existing Fidelity customers. Newer accounts have a limited investment menu, so check the current opening terms and use a separate brokerage for broader investing needs.
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