Table of Contents
why fidelity
- Automatic sweep of uninvested cash into money market funds
- FWIW, this is not available in Schwab. [asof | 2023-09-21]
- Customer service is great. [today | 2023-09-22]
Core positions
| Account | core positions available |
|---|---|
| Brokerage | FCASH, FZFXX, SPAXX |
| CMA | FCASH |
| Account | core position I am using | asof |
|---|---|---|
| Brokerage | FZFXX | 2023-08-18 |
| CMA | FCASH | 2023-08-18 |
| Fund | Name | url | notes |
|---|---|---|---|
| FZFXX | Fidelity Treasury Money Market Fund | https://fundresearch.fidelity.com/mutual-funds/ratings/316341304 | |
| SPAXX | Fidelity Government Money Market Fund | https://fundresearch.fidelity.com/mutual-funds/summary/31617H102 | |
| FZCXX | Fidelity Government Money Market Fund | https://fundresearch.fidelity.com/mutual-funds/summary/31617H706 | came across it from https://thefinancebuff.com/fidelity-cash-management-checking-savings.html |
| Fund | 7-Day Yield (%) | Expense ratio (bps) | minimum investment ($) | asof |
|---|---|---|---|---|
| FZFXX | 4.97 | 42 | 0 | 2023-08-17 |
| SPAXX | 4.97 | 42 | 0 | 2023-08-17 |
| FZCXX | 5.07 | 36 | 100,000 | 2023-08-17 |
| Fund | invests in | last checked |
|---|---|---|
| FZFXX |
| 2023-08-18 |
| SPAXX |
| 2023-08-18 |
| FZCXX |
| 2023-08-18 |
This information can be obtained by going to the fund's page (ex:- https://fundresearch.fidelity.com/mutual-funds/summary/316341304) → Summary → “Composition by Instrument” table
links I came across
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- tags | core position
linking a bank account
On 2023-07-xx, I tried to link CFCU checking account to Fidelity brokerage account in order to do an EFT (Electronic Funds Transfer). But I could not do it since Fidelity is asking for CFCU account's credentials. It is asking for this even when I chose “Enter my bank information on my own” instead of choosing “Log into my bank account with Plaid”.
This issue seems to be specific to (Fidelity, CFCU). I was able to link accounts at other banks such as TD Bank, Capitalone to Fidelity without any issues.
I am not comfortable giving my bank account credentials to Fidelity.
Solution 1: I called Fidelity the customer service. The representatives suggested to fill out a paper form, scan it and mail it to them. This form can be found as follows:
Login into fidelity.com → search for 'forms' in the top right 'Search or get a quote' bar → click on 'Online Forms and Applications' → All Forms → pg-6 → Electronic Funds Transfer (EFT) → Download the PDF
Solution 2: Work around it by transferring money to a different bank (ex:- CFCU → Capitalone → Fidelity).
securing the account
- Enable two factor authentication
- Turn on lockdown
See also: