⭐ Editor's Choice — Top Rated Pick
Fidelity® Cash Management Account (CMA)
📍 Available in: US (Worldwide ATM Use)
★★★★★ 4.9 / 5.0
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.
Key Facts at a Glance
| Cost / Fee Structure | $0 |
| APY / Rewards Yield | ~4.55% (via SPAXX Core Sweep) or 2.45% (FDIC Sweep) |
| Minimum Deposit / Balance | $0 |
| FDIC / SIPC / Regulatory Protection | Up to $5,000,000 (FDIC Sweep) or SIPC (SPAXX) |
| ATM Network & Rebates | Unlimited Worldwide ATM Fee Reimbursements |
Pros & Cons
✓ Pros
- ✓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
- ✓Free outgoing domestic bank wires ($0 vs. $25–$35 at traditional banks)
✕ Cons
- ✕Does not natively integrate with the Zelle® bank-to-bank app directory (must use Venmo, Apple Cash, or same-day ACH)
- ✕Longer hold times (up to 10 business days) when pulling ACH funds from an external bank via Fidelity’s interface (pushing ACH from your external bank clears in 1 day)
Key Features
Automatic SPAXX Money Market Core Sweep (~4.55% 7-Day Yield)Unlimited Worldwide ATM Fee Reimbursements (Credited Same Day)0% Foreign Transaction Fees on ATM Withdrawals & PurchasesUp to $5 Million FDIC Insurance (if using FDIC Bank Deposit Sweep)Free Checkwriting, Bill Pay, and Same-Day Outgoing Bank Wires
Compare Fidelity® Cash Management Account (CMA) Side-by-Side
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