Fidelity Holiday Offer - $150 for $50 deposit

[ReardonSteel]

Apologies if this was already posted (I searched and couldn't find it in the history).

Fidelity is offering a $150 cash reward for opening a new brokerage, cash management or IRA account and depositing $50.
Offer ends Dec 2 and the $50 has to be deposited within 15 days of opening the account.
US only.

https://www.fidelity.com/go/special-offer/holiday

I decided to open a cash management account and give it a try.

[ResearchMed]

What is the fee for closing the account?

RM

[nalor511]

What is the fee for closing the account?

RM

Fidelity has no account closure or transfer fees

[Kookaburra]

“ Individuals who took advantage of the previous $50 for $100 offer aren't eligible.”

Doh!

[sycamore]

“ Individuals who took advantage of the previous $50 for $100 offer aren't eligible.”

Doh!

The T&C's also go on to say you're not eligible if you got the prior bonus offers in the last 12 months. I got the $100 offer in 10/2021, and I'm going for this new $150 offer. So far so good -- I got the email indicating I'm enrolled in the offer.

[TotalFool]

it seems to work if you have not made use of the offer this year. I used the offer last year in november to get $100. I tried again in the morning and I got a email confirming i will receive $150 in 25 days.

[Parkinglotracer]

Sign me up … we opened two and closed two last year … maybe this year I’ll leave the accounts open and check out how good their website is. Nothing wrong with having some assets at two brokerage houses when one has some problems as my Wall Street bud has said to me.

[ReardonSteel]

One piece of fine print I caught when I re-read the T&Cs:

"Account holders must maintain the bonus award (minus any losses related to trading or market volatility, or margin debit balances) in the account for at least 90 days from the date on which the bonus award is credited to the account. Fidelity may charge accounts that fail to comply with this requirement the cost of the bonus award.

Just something to be thoughtful about if you do decide to close the account relatively quickly.

[mowgli]

Can you buy Treasuries (auction) in a CMA account?

[skibummer]

Yes. The CMA account functions just like a regular brokerage minus options and margin. I have purchased T-bills at auction in my CMA account.

[Jags4186]

Thanks. My wife and I will do this. Easy $$.

[mowgli]

Yes. The CMA account functions just like a regular brokerage minus options and margin. I have purchased T-bills at auction in my CMA account.

Thank you skibummer!

[Blue456]

Thanks. My wife and I will do this. Easy $$.

We did it already. Easy $300. It might get my wife interested in investing.

[anon_investor]

it seems to work if you have not made use of the offer this year. I used the offer last year in november to get $100. I tried again in the morning and I got a email confirming i will receive $150 in 25 days.

I am in the same situation and also received the confirmation email.

[stoptothink]

Thanks for the heads up. I already had a Fidelity brokerage account linked to the Fidelity Visa, but my wife didn't (she had an account already, for 401k and HSA). Easy 2 minutes for $150.

[Kendall]

This thread is now in the Personal Finance (Not Investing) forum.

--moderator Kendal

[nalor511]

Thanks for the heads up. I already had a Fidelity brokerage account linked to the Fidelity Visa, but my wife didn't (she had an account already, for 401k and HSA). Easy 2 minutes for $150.

You can open another one for the bonus (I did) unless you received the bonus within a year prior

[stoptothink]

Thanks for the heads up. I already had a Fidelity brokerage account linked to the Fidelity Visa, but my wife didn't (she had an account already, for 401k and HSA). Easy 2 minutes for $150.

You can open another one for the bonus (I did) unless you received the bonus within a year prior

Sweet, set up another account for myself.

[Retired1809]

Would a new Fidelity customer be required to thaw ones credit with any credit bureaus? And if so, which one(s)?

[Kookaburra]

“ Individuals who took advantage of the previous $50 for $100 offer aren't eligible.”

Doh!

The T&C's also go on to say you're not eligible if you got the prior bonus offers in the last 12 months. I got the $100 offer in 10/2021, and I'm going for this new $150 offer. So far so good -- I got the email indicating I'm enrolled in the offer.

Is it based on the date the prior offer bonus was paid, or the end of the 90-day clawback period?

[stuyguy]

I was deemed ineligible as I opened an account 12/6/2021. My wife is new to Fidelity and just opened an account without having to thaw any existing credit freezes

[skibummer]

it seems to work if you have not made use of the offer this year. I used the offer last year in november to get $100. I tried again in the morning and I got a email confirming i will receive $150 in 25 days.

I am in the same situation and also received the confirmation email.

How long for the confirmation email. We didn’t do the previous bonus and my spouse and I each applied for an individual brokerage through the link this morning. Neither of us got a confirmation email and we checked junk. Both accounts are open.

[ResearchMed]

Should we join the parade?

I'm not really inclined to open accounts at another vendor. DH used to have some retirement accounts there, but when the 403b was moved, we moved the TIRA also.

But if Fidelity "tends to do this", such that we could get little bonuses every now and then, that might be worthwhile. How many times in the past has Fidelity done this? Just once previously, or more than that?
Yes, I know that "past performance does not predict..."

Thanks.

RM

[carolc]

Thanks.
Just did it for my partner and me.
I am planning on transferring Vanguard IRAs to Fidelity anyway so this made sense.

carolc

[anon_investor]

it seems to work if you have not made use of the offer this year. I used the offer last year in november to get $100. I tried again in the morning and I got a email confirming i will receive $150 in 25 days.

I am in the same situation and also received the confirmation email.

How long for the confirmation email. We didn’t do the previous bonus and my spouse and I each applied for an individual brokerage through the link this morning. Neither of us got a confirmation email and we checked junk. Both accounts are open.

It was not immediate but within 24 hours. I opened a new account a few days ago in the evening and the confirmation email showed up the next morning.

[macaroon]

I tried to sign up but Fidelity couldn't verify my identity. My credit is frozen -- do I need to unfreeze it first?

[birb]

Thanks, just did this! Strangely I had just opened a brokerage 3 days ago, and was bummed when I saw this thinking I'd lost my chance, but then used the link to add on a cash management account, and that worked perfectly.

[skibummer]

Our credit is frozen at all 3 bureaus and we didn’t unlock to open the account but we had a joint brokerage already with Fidelity.

[JayB]

I already have a taxable brokerage account and IRAs with Fido, so I'm scratching my head about the value of this. Aside from the $150 bonus, which I assume is taxable, is there any other meaningful benefit for folks like me who write at most 1-2 checks a year, carry just about no cash and don't visit ATMs except the one across the street belonging to my credit union, already have a checking account linked with all kinds of auto deposit and auto debit arrangements, and don't need or want another debit card?

[nalor511]

I already have a taxable brokerage account and IRAs with Fido, so I'm scratching my head about the value of this. Aside from the $150 bonus, which I assume is taxable, is there any other meaningful benefit for folks like me who write at most 1-2 checks a year, carry just about no cash and don't visit ATMs except the one across the street belonging to my credit union, already have a checking account linked with all kinds of auto deposit and auto debit arrangements, and don't need or want another debit card?

You don't have to order checks or a debit card. The $150 bonus is the draw (and the thread title)

[JayB]

You don't have to order checks or a debit card. The $150 bonus is the draw (and the thread title)

Thanks for that information! Do you know if the $150 is taxable? And more generally, how is the 1099-INT interest on the CMA sweep account reported for tax purposes? By the bank(s) that hold the funds, or by Fidelity?

[Eno Deb]

I already have a taxable brokerage account and IRAs with Fido, so I'm scratching my head about the value of this. Aside from the $150 bonus, which I assume is taxable, is there any other meaningful benefit for folks like me who write at most 1-2 checks a year, carry just about no cash and don't visit ATMs except the one across the street belonging to my credit union, already have a checking account linked with all kinds of auto deposit and auto debit arrangements, and don't need or want another debit card?

There are various reasons, but one is that a Fido brokerage account can pretty much replace a checking account and has much higher interest rates through the money market funds that are available as "core" options (currently around 3.4%). It's a good idea to use a separate brokerage account from your investement account for security reasons.

[Eno Deb]

Thanks for that information! Do you know if the $150 is taxable? And more generally, how is the 1099-INT interest on the CMA sweep account reported for tax purposes? By the bank(s) that hold the funds, or by Fidelity?

Yes, the bonus is taxable. The interest of the CMA FDIC core option is reported on Fidelity's 1099-INT.

[anon_investor]

I already have a taxable brokerage account and IRAs with Fido, so I'm scratching my head about the value of this. Aside from the $150 bonus, which I assume is taxable, is there any other meaningful benefit for folks like me who write at most 1-2 checks a year, carry just about no cash and don't visit ATMs except the one across the street belonging to my credit union, already have a checking account linked with all kinds of auto deposit and auto debit arrangements, and don't need or want another debit card?

If you buy tbills at auction and use autoroll and regularly buy ETFs, it might be beneficial to buy the tbills in a separate account as the period from tbill purchase to settlement date, your available funds are temporarily impacted by the amount of the new purchases tbill as the current tbill has not matured yet. This can be an issue if you plan to buy ETFs during that period.

[Zizou]

it seems to work if you have not made use of the offer this year. I used the offer last year in november to get $100. I tried again in the morning and I got a email confirming i will receive $150 in 25 days.

I am in the same situation and also received the confirmation email.

How long for the confirmation email. We didn’t do the previous bonus and my spouse and I each applied for an individual brokerage through the link this morning. Neither of us got a confirmation email and we checked junk. Both accounts are open.

It was not immediate but within 24 hours. I opened a new account a few days ago in the evening and the confirmation email showed up the next morning.

Got a confirmation within the hour

[er999]

Thanks for posting. I didn’t have a fidelity taxable account but already has a 401k with them so quite easy (< 5 minutes) to open a new account. Shortly after I got an email saying I qualified for the $150 bonus after the $50 transfer.

[Ron Ronnerson]

it seems to work if you have not made use of the offer this year. I used the offer last year in november to get $100. I tried again in the morning and I got a email confirming i will receive $150 in 25 days.

I am in the same situation and also received the confirmation email.

How long for the confirmation email. We didn’t do the previous bonus and my spouse and I each applied for an individual brokerage through the link this morning. Neither of us got a confirmation email and we checked junk. Both accounts are open.

It was not immediate but within 24 hours. I opened a new account a few days ago in the evening and the confirmation email showed up the next morning.

Got a confirmation within the hour

My wife and I each opened an account on Tuesday morning and each received a confirmation about an hour or so later. Perhaps it takes a little longer for accounts opened in the evenings or on weekends.

[anon_investor]

I am in the same situation and also received the confirmation email.

How long for the confirmation email. We didn’t do the previous bonus and my spouse and I each applied for an individual brokerage through the link this morning. Neither of us got a confirmation email and we checked junk. Both accounts are open.

It was not immediate but within 24 hours. I opened a new account a few days ago in the evening and the confirmation email showed up the next morning.

Got a confirmation within the hour

My wife and I each opened an account on Tuesday morning and each received a confirmation about an hour or so later. Perhaps it takes a little longer for accounts opened in the evenings or on weekends.

I checked again, and it looks like the email did come within an hour (albeit technically the next day). It was late and I probably wasn't checking my email, so I didn't see it until the next morning.

I need to go bug my spouse to open an account to get this offer too.

[Ron Ronnerson]

How long for the confirmation email. We didn’t do the previous bonus and my spouse and I each applied for an individual brokerage through the link this morning. Neither of us got a confirmation email and we checked junk. Both accounts are open.

It was not immediate but within 24 hours. I opened a new account a few days ago in the evening and the confirmation email showed up the next morning.

Got a confirmation within the hour

My wife and I each opened an account on Tuesday morning and each received a confirmation about an hour or so later. Perhaps it takes a little longer for accounts opened in the evenings or on weekends.

I checked again, and it looks like the email did come within an hour (albeit technically the next day). It was late and I probably wasn't checking my email, so I didn't see it until the next morning.

I need to go bug my spouse to open an account to get this offer too.

I had to bug mine as well. Luckily, it only took about 5 minutes of her time. Fidelity makes it pretty painless.

[LK2012]

This offer is great, but also super annoying because I just opened TWO new Fidelity accounts in the past month, a Joint Account and a Roth IRA! I already had a brokerage account. Rats!

[nalor511]

This offer is great, but also super annoying because I just opened TWO new Fidelity accounts in the past month, a Joint Account and a Roth IRA! I already had a brokerage account. Rats!

You can open another one for the bonus. The only disqualifier is if you already got a bonus in the last 12mo

[Savvy]

Thanks for sending! I was able to open the account and see my account number and it's $0 value, but when I go to fund the account, the new account is not included in the list of accounts I can fund. I will check again in the next day or two, but not sure how long it will take.

[anon_investor]

It was not immediate but within 24 hours. I opened a new account a few days ago in the evening and the confirmation email showed up the next morning.

Got a confirmation within the hour

My wife and I each opened an account on Tuesday morning and each received a confirmation about an hour or so later. Perhaps it takes a little longer for accounts opened in the evenings or on weekends.

I checked again, and it looks like the email did come within an hour (albeit technically the next day). It was late and I probably wasn't checking my email, so I didn't see it until the next morning.

I need to go bug my spouse to open an account to get this offer too.

I had to bug mine as well. Luckily, it only took about 5 minutes of her time. Fidelity makes it pretty painless.

I made my spouse do the $100 deal last year and it didn't work right and she had to call in to get a courtesy credit. So hopefully it works properly this time.

[nalor511]

Thanks for sending! I was able to open the account and see my account number and it's $0 value, but when I go to fund the account, the new account is not included in the list of accounts I can fund. I will check again in the next day or two, but not sure how long it will take.

You have to link the bank to the new account first.

[birb]

Thanks for sending! I was able to open the account and see my account number and it's $0 value, but when I go to fund the account, the new account is not included in the list of accounts I can fund. I will check again in the next day or two, but not sure how long it will take.

I had to go to a different page where I clicked to include the new account as one that can be funded. I think it was under payments & transfers, and then EFT

[Savvy]

Thanks for sending! I was able to open the account and see my account number and it's $0 value, but when I go to fund the account, the new account is not included in the list of accounts I can fund. I will check again in the next day or two, but not sure how long it will take.

You have to link the bank to the new account first.

Awesome, thank you for clarifying!

[tunafish]

I tried to sign up but Fidelity couldn't verify my identity. My credit is frozen -- do I need to unfreeze it first?

How do they try to verify one's identity?

[skibummer]

How long for the confirmation email. We didn’t do the previous bonus and my spouse and I each applied for an individual brokerage through the link this morning. Neither of us got a confirmation email and we checked junk. Both accounts are open.

It was not immediate but within 24 hours. I opened a new account a few days ago in the evening and the confirmation email showed up the next morning.

Got a confirmation within the hour

My wife and I each opened an account on Tuesday morning and each received a confirmation about an hour or so later. Perhaps it takes a little longer for accounts opened in the evenings or on weekends.

I checked again, and it looks like the email did come within an hour (albeit technically the next day). It was late and I probably wasn't checking my email, so I didn't see it until the next morning.

I need to go bug my spouse to open an account to get this offer too.

Confirmation email for both new individual accounts came through just now (about 12 hours after opening). $300 for less than 20 min effort.

[anon_investor]

It was not immediate but within 24 hours. I opened a new account a few days ago in the evening and the confirmation email showed up the next morning.

Got a confirmation within the hour

My wife and I each opened an account on Tuesday morning and each received a confirmation about an hour or so later. Perhaps it takes a little longer for accounts opened in the evenings or on weekends.

I checked again, and it looks like the email did come within an hour (albeit technically the next day). It was late and I probably wasn't checking my email, so I didn't see it until the next morning.

I need to go bug my spouse to open an account to get this offer too.

Confirmation email for both new individual accounts came through just now (about 12 hours after opening). $300 for less than 20 min effort.

I think bugging my spouse will take longer than opening the actual account since she already has accounts with Fidelity.

[Gronnie]

If I already have a joint account with spouse can we each open individual accounts?