Fidelity® Cash Management Account (CMA)
vs
Capital One 360 Checking
Skip the marketing fluff. Below is the side-by-side breakdown of fees, yield/rewards math, fine-print restrictions, and the exact household profile each product is built for.
Combines ~4.50%+ SPAXX money market yield on checking cash with unlimited worldwide ATM fee reimbursements and up to $5M FDIC sweep.
- Eliminates the need to transfer money between checking and savings—your checking balance automatically earns money market yields
- Reimburses all domestic and international ATM surcharges globally with 0% FX markup
The best everyday domestic checking hub: $0 monthly fees, 70,000+ fee-free ATMs, built-in Zelle®, and cash deposits at CVS & Walgreens.
- Ability to deposit physical cash at thousands of CVS and Walgreens stores for $0 fee
- Zero foreign transaction fees on the Mastercard debit card when traveling abroad
How Much Interest Will Your Cash Earn: Fidelity® Cash Management Account (CMA) (4.55%) vs Capital One 360 Checking (0.1%)
Here is the exact pre-tax annual interest generated across four standard cash reserve balances based on each account's published headline rate:
| Deposit Balance | Fidelity® Cash Management Account (CMA) (4.55% APY) | Capital One 360 Checking (0.1% APY) | Annual Yield Difference |
|---|---|---|---|
| $10,000 | +$455 / yr | +$10 / yr | +$445/yr with Fidelity® Cash Management Account (CMA) |
| $25,000 | +$1,138 / yr | +$25 / yr | +$1,113/yr with Fidelity® Cash Management Account (CMA) |
| $50,000 | +$2,275 / yr | +$50 / yr | +$2,225/yr with Fidelity® Cash Management Account (CMA) |
| $100,000 | +$4,550 / yr | +$100 / yr | +$4,450/yr with Fidelity® Cash Management Account (CMA) |
In-Depth Breakdown: Fidelity® Cash Management Account (CMA) vs Capital One 360 Checking
1. How Fidelity® Cash Management Account (CMA) Works
Fidelity’s Cash Management Account bridges the gap between a high-yield savings account and an international checking account. Unlike Schwab—where idle checking cash earns 0.45%—Fidelity lets you select the Fidelity Government Money Market Fund (SPAXX) as your automated core checking position, earning ~4.50%+ yield on every dollar until your debit card swipe, ACH bill pay, or check clears. Plus, the Visa® Gold Check Card reimburses 100% of ATM fees worldwide with zero foreign transaction fees.
2. How Capital One 360 Checking Works
Capital One 360 Checking solves the biggest headache of online-only banks: handling physical cash. Through its "Add Cash in Store" barcode feature, you can hand up to $999 in paper bills directly to a cashier at any CVS® or Walgreens® register nationwide and watch it hit your checking balance immediately for $0 fee. Combined with 0% foreign transaction fees, built-in Zelle®, no overdraft fees, and 70,000+ fee-free Allpoint and Capital One ATMs, it is the best all-around domestic checking replacement for Chase or Bank of America.
Frequently Asked Questions
Should I choose Fidelity® Cash Management Account (CMA) or Capital One 360 Checking?
Choose Fidelity® Cash Management Account (CMA) if you prioritize Eliminates the need to transfer money between checking and savings—your checking balance automatically earns money market yields. Choose Capital One 360 Checking if you want Ability to deposit physical cash at thousands of CVS and Walgreens stores for $0 fee.
What is the biggest catch with Fidelity® Cash Management Account (CMA) vs Capital One 360 Checking?
With Fidelity® Cash Management Account (CMA), the main limitation to keep in mind is: Does not natively integrate with the Zelle® bank-to-bank app directory (must use Venmo, Apple Cash, or same-day ACH). With Capital One 360 Checking, the primary trade-off is: Does not reimburse out-of-network ATM operator fees if you use a non-Allpoint/MoneyPass ATM.