If the cash in your Fidelity ® Cash Management Account drops below your minimum target balance, Cash Manager moves available cash automatically from your designated funding accounts in the order you specify.When the cash in your Fidelity ® Cash Management Account hits your maximum target balance, Cash Manager alerts you so you can move the money and, if you choose, invest it.When you open a Fidelity ® Cash Management Account, Cash Manager lets you set a maximum target balance, a minimum target balance, a minimum transfer amount, and a hierarchy of funding accounts to supply available cash to your Fidelity ® Cash Management Account.You can automatically move cash to your Fidelity ® Cash Management Account when you need it and receive alerts so that, if you choose, you can actively invest extra cash when you have it. How does the FDIC Deposit Sweep Program help maximize my FDIC insurance eligibility?Ĭash Manager is an optional feature that gives you flexibility in managing your finances. for additional information on FDIC insurance coverage limits.Fidelity ® Cash Management Account FDIC-Insured Deposit Sweep Program Disclosure document (PDF) for complete explanation and disclosures on the Deposit Sweep Program.Please refer to the following for additional information: You cannot access your funds directly from a program bank. Fidelity automatically performs all transfers between the program banks and your account. 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). Deposits swept into the program bank(s) are eligible for FDIC Insurance, subject to FDIC insurance coverage limits. May I open a Fidelity ® Cash Management Account if I already have a Fidelity brokerage account?Ĭash 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"). No minimum to open and no monthly maintenance fees.The ability to link the Fidelity ® Cash Management Account to your other Fidelity accounts or to your external bank or investment accounts, for the purposes of more easily moving money between accounts.Access to short-term investments such as money market mutual funds and CDs.FDIC insurance coverage that is automatically maximized via our FDIC Deposit Sweep Program ( Learn more about FDIC insurance).Cash balances that earn interest and are eligible for FDIC insurance 2.A full suite of spending and money movement features available via the Web or your mobile device.The Fidelity ® Cash Management Account is a brokerage account 1 that is an alternative for individuals seeking FDIC insurance that is available for your everyday spending and short-term investing needs with the benefits of a traditional checking account including:
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