Fidelity Review 2026: Online Cash Management Account
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Many or all of the products on this page are from partners who compensate us when you click to or take an action on their website, but this does not influence our evaluations or ratings. Our opinions are our own.
Overview
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The Fidelity Cash Management account offers a solid interest rate with the added perks of up to $4 million in federal insurance and unlimited worldwide ATM fee reimbursements.
The account is provided by Fidelity, a brokerage firm, which means it’s not a bank account and doesn’t have the same regulations that a bank would have. The Federal Deposit Insurance Corp. insurance that Fidelity offers comes from the partner banks that Fidelity works with. As is the case with most cash management accounts, Fidelity sweeps its customers’ deposits into accounts at these banks behind the scenes and the deposits are given FDIC insurance by extension.
Unlimited ATM fee reimbursements globally.
No monthly fees or minimum opening deposit requirements.
FDIC insurance on cash balances.
Limited in-person support.
Product reviews
Cash management
The Cash Management Account is not technically a checking account, but it operates similarly to one in that it offers a debit card, check writing and FDIC protection through Fidelity’s partner banks.
Upsides
Solid interest rate. Fidelity Cash Management customers earn a 1.84% annual percentage yield.
Great ATM access. Account holders can access cash at more than 1 million ATMs worldwide.
ATM fee reimbursements. Fidelity reimburses ATM fees charged by other institutions globally.
No monthly fees. This account has no monthly fees or minimum balance requirements.
High federal insurance through third-party banks. Customers receive up to $4 million in Federal Deposit Insurance Corp. coverage through partner banks, which is more than 15 times the normal amount for FDIC insurance.
Option to invest cash in safe investments. Apart from putting cash into third-party banks, Fidelity’s cash management account alternatively lets customers put their cash into a money market fund, which is a type of mutual fund invested in short-term, low-risk investments such as U.S. Treasurys.
» Want to learn more about Fidelity's brokerage services? Read NerdWallet's full review of Fidelity's investment services.
Downsides
No physical cash deposit. Customers can add money to their accounts through direct deposit, online transfer, wire transfer and mobile check deposit.
» Want to explore other checking options? Check out NerdWallet’s best checking accounts.
Fidelity Cash Management Account
Customer experience & overdraft fees
Customer experience
Upsides
Strong remote customer service options. Human phone support is available 24/7. Fidelity also has customer support available on Reddit. Chatbot and human chat support is available on the website.
High app store ratings. Both Apple and Google Play users rate the Fidelity app highly.
Mobile check deposit. Customers can deposit checks into their cash management account through the Fidelity mobile app.
A downside
Branch support is hard to come by. There are only about 215 financial planning offices scattered across the country.
» Interested in CDs? Read about Fidelity's extensive list of brokered certificates of deposit
Overdraft fees
Fidelity doesn’t charge overdraft or continuous negative balance fees. Transactions will either be covered from a backup source if you opt in to Fidelity’s optional Cash Manager feature or rejected.
Customers can set up free overdraft protection transfers from linked accounts. These accounts include a Fidelity brokerage account or a Fidelity margin account.
Rating methodology
NerdWallet’s overall ratings for cash management accounts are weighted averages of account features and customer experience. Factors we consider, depending on the category, include rates and fees, ATM access, availability of cash withdrawal and limits, user-facing technology, customer service, overdraft programs and innovation. The stars represent ratings from poor (one star) to excellent (five stars). The ratings are incremented in tenths of a star.
NerdWallet does not receive compensation for our star ratings. Read more about our ratings methodologies for banks and credit unions and our editorial guidelines.