An alternative to traditional banking that can pay you more

Fidelity Cash Management Account is designed with all you need for convenient spending and saving—plus competitive rates on your cash.


Choose from 2 competitive options for your cash


Fidelity® Government Money Market Fund



Inflation can slowly eat your dollars. You may want to consider this option if you want to maximize your potential earnings. Your cash is automatically held in a money market fund (SPAXX).



Performance data shown represents past performance and is no guarantee of future results. Investment return and principal value will fluctuate, so investors may have a gain or loss when shares are sold. Current performance may be higher or lower than what is quoted. Click or tap the security for most recent month-end performance.


FDIC-Insured Deposit Sweep Program



You may want to consider this option if you want additional protection. Your cash (up to $5 million) is insured by the Federal Deposit Insurance Corporation (FDIC). We automatically place your cash in an account at one or more program banks.2

Award-winning account with features to help your goals

ATM fee reimbursement3

Unlimited global reimbursement on ATM withdrawals.4

Competitive rates

Earn well above the national average5 for a traditional checking account.

No fees

No account fees or minimums to open an account.

Forbes Advisor Best of 2024 Recognized by Forbes Advisor as the #1 Cash Management Account of 20246

Easy access to your cash. No fees to get in your way.

With no account fees7 and no account minimums to open, the Fidelity Cash Management Account can be a smarter digital alternative to traditional banks. Easily move your money across other Fidelity accounts, and spend and withdraw with a debit card—without the fees to slow you down. Your cash balance can earn a competitive rate of return automatically every month, while your account is covered against unauthorized activity by our Customer Protection Guarantee.8


Real-time insights for right-time decisions

Know where your money is going with real-time spending views and alerts. Flexible options to pay and get paid make it easy to access your cash: Bill Pay, a digital wallet-compatible debit card, mobile check deposit, and payment apps integration.


Build routines to make saving a habit

Whether building emergency savings or for short-term goals, we’ll help make saving part of life. Easily set up direct deposit and create automatic transfers to invest your extra cash. Do it all in the palm of your hand—with the Fidelity mobile app.


Common questions

  • May I open a Fidelity® Cash Management Account if I already have a Fidelity brokerage account?

    The Fidelity® Cash Management Account is intended to complement, not replace, your existing brokerage account. It lets you separate your spending activity from your investment activity.

  • What spending and money movement features are included?
    • Free mobile check deposit and mobile Bill Pay, via the Fidelity mobile app
    • No annual fee debit/ATM card with ATM fee reimbursements3
    • Free online Bill Pay
    • Free checkwriting
    • Free online transfers between your Fidelity accounts and bank accounts
  • Is the Fidelity® Cash Management Account eligible for FDIC insurance coverage, and how does it work?

    If elected, the cash balances in the Fidelity® Cash Management Account are swept into an FDIC-Insured interest bearing account at one or more program banks and, under certain circumstances, a money market mutual fund (the "Money Market Overflow"). Deposits swept into the program bank(s) are eligible for FDIC Insurance, subject to FDIC insurance coverage limits. Balances that are swept to the Money Market Overflow are not eligible for FDIC insurance but are eligible for SIPC coverage under SIPC rules (referenced below). Fidelity automatically performs all transfers between the program banks and your account. You cannot access your funds directly from a program bank. Please refer to the following for additional information:

  • Is the Fidelity Cash Management Account a bank account?

    The Fidelity Cash Management Account is not a bank account. It is a brokerage account that allows you to spend, save, and invest. The account offers competitive rates as well as spending and money movement features including a free debit card, checkwriting, Bill Pay, and more.

  • What's the difference between a money market mutual fund and an FDIC sweep option?

    A money market mutual fund is a type of mutual fund that invests in debt securities characterized by their short maturities and minimal credit risk. Money market mutual funds are among the lowest-volatility types of investments.

    However, a money market fund is not a bank account and an investment in it is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.

    The FDIC-insured Deposit Sweep program option sweeps your uninvested cash into an FDIC-insured interest-bearing account at one or more program banks. Deposits swept into the program bank(s) are eligible for FDIC insurance, subject to FDIC insurance coverage limits, and amounts over FDIC coverage limits may be swept to a money market fund.

  • Is the cash in the Fidelity Government Money Market Fund protected?

    The Fidelity Government Money Market Fund is not covered by FDIC insurance and therefore subject to market risk. However, as a security in your account, the fund is covered by Securities Investor Protection Corporation (SIPC). SIPC is a nonprofit organization that protects stocks, bonds, and other securities in case a brokerage firm goes bankrupt and assets are missing. The SIPC will cover up to $500,000 in securities, including a $250,000 limit for cash held in a brokerage account such as the Fidelity Cash Management Account. To learn more, visit https://www.fidelity.com/why-fidelity/safeguarding-your-accounts.

Resources

Do you really need a bank?

The answer is not as clear-cut as it once was. Consider the alternatives.

Preparing for emergencies

Learn how to build a safety net to help protect yourself and your loved ones.

What to do with your cash

Learn about the ways you can manage the cash in your investment account.