Fidelity: one stop shop

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 contains a summary of Bogleheads forum topic "Fidelity as a one stop shop", which provides details about using Fidelity for all banking and investment needs. This is not an endorsement of any product or provider. Fidelity Investments is the marketing name for FMR LLC, a giant Boston-based investment management company and financial supermarket.

Cash Management Account
The Fidelity Cash Management Account (CMA) is a brokerage account with check writing, ATM card and default sweep to FDIC insured money market fund. It has several features:
 * ATM fee reimbursement;
 * Check writing;
 * Bill pay;
 * Check deposit using mobile app.
 * Auto-roll service for Treasury securities and CDs

Different ways to set up your accounts
These are the different ways to set up accounts.

Brokerage account only

 * ATM card but no free ATM fees. Exception: Private Client Group gets 0 fees;
 * Sweep options: Fidelity Government Money Market Fund (SPAXX) or Fidelity Treasury Money Market Fund (FZFXX);
 * Bill pay, check writing, ACH, deposits available;
 * Deposit/withdrawal from sweep fund;
 * If sweep hits 0; withdrawal from other money market (MM) but no sale of other stock / Exchange-Traded Fund (ETF) / mutual fund (MF);
 * Overdraft available via margin;
 * Can buy any stock, ETF, MFs;
 * All brokerage features.

CMA account only

 * Offers an ATM card with no worldwide ATM fees.
 * A 1% foreign transaction fee exists for debit card purchases in non-US dollar transactions.
 * Sweep option: FDIC with 1.25m coverage and Money Market Mutual Fund Overflow (6/30/22).
 * If your cash balances are above the maximum deposit limit, any excess will be placed in Class S of the Fidelity Government Money Market Fund. This will be debited first.
 * Note, please review the Program Bank List used for your Fidelity CMA. If you already have deposits at any of those banks, it will affect your total FDIC eligibility.
 * Bill pay, check writing, ACH, deposits available;
 * Deposit/withdrawal from sweep FDIC;
 * Can buy MM funds, ETF, MFs;
 * If FDIC cash hits 0; withdrawal from MM but no sale of other stock/ETF/MF;
 * If both FDIC cash and MM hit zero; fails withdrawal;
 * All cash management features.

CMA and brokerage

 * CMA used for ATM with FDIC sweep; no ATM fees;
 * CMA overdraft protection with connection to brokerage;
 * CMA balance is kept low or zero;
 * Brokerage sweep as SPAXX or FZFXX;
 * ATM withdrawal first from CMA;
 * If CMA hits zero withdrawal from brokerage sweep/Money Market;
 * If CMA hits zero and brokerage sweep/Money Market hits 0; withdrawal fails if no margin;
 * Another level of overdraft protection available in brokerage via margin;
 * No automatic sell of stocks/MF from brokerage other than sweep or MM.

Non-Core Money Market Funds that auto-liquidate
While there is not a published list of money market funds that are eligible for autoliquidation, you can determine whether a money market will autoliquidate using the requirements below.

Auto-liquidate non-core money market requirements:
 * Fidelity Investments Money Market (FIMM), non-FIMM government, retail prime, and retail municipal funds
 * Maintains a stable net asset value
 * A liquidity fee has not been imposed

SPRXX, SPAXX, FDRXX, FZFXX, FDLXX have been confirmed to auto-liquidate

Issues/concerns

 * Security concerns involve unauthorized access to the CMA account, and the risk that the CMA and a linked investment account can be drained of funds. A common suggestion is to have a separate, unlinked investment account to hold the investment portfolio, with no mingling of investment capital and the money used for expenses/banking.
 * Privacy concerns as Fidelity reports all ACH transactions to Early Warning Services (EWS)
 * Zelle is not supported though some may consider this an advantage as Zelle fraud is not necessarily covered under Electronic Funds Transfer Act (Reg E) protections because a consumer has "agreed" to have Zelle debit their account.
 * Cashier's checks are no longer supported as of 2021

Fidelity tips, links, and general orientation
The default account at Fidelity is a full-featured brokerage account. You can buy mutual funds (Fidelity and non-Fidelity funds), ETFs, individual stocks, bonds, brokered CDs, and fractional shares along with options and precious metals, all within the same Fidelity account. As of March 2023:
 * The Fidelity Account® is a top-level overview of the brokerage account services.
 * The Fidelity Account® for Businesses
 * Fidelity CMA describes Cash Management Account.
 * If moving from Vanguard, some of their mutual funds can be converted tax free to the equivalent ETFs which give better portability and allows you to continue to trade at Fidelity without fees. List of eligible mutual funds

Competing products
Cash management programs are also available from Schwab and Merrill:
 * Schwab Cash Solutions
 * Merrill Cash Management Account
 * Merrill Edge | Disclosures and Account Agreement