Say Goodbye to 0% Interest: My New 5% Checking Account

[@Tgekiwbx]

I use this account as well, and I think the 4.96% yield shown is net of expenses. In other words, you may as well ignore that 0.42% fee.

[@gurrrrlish]

i consolidated stuff over there - Fidelity.. started with HSA - my employer option had a bunch of their own age based bad funds and some high expense brand name mutual funds ... then i realized i could move my t bill money there instead of my checking acct . then i got lazy and instead of buying treasuries I have left the cash sitting there for the same return - - - - -but i will regret my laziness at tax time...

[@Thomas-se3tb]

Have you had any problems with transfer times or bill pay?

[@michaelviglianco6121]

I have. Fortunately I didn't start investing there yet and am likely out as soon as it settles.

[@williammorgan5293]

Fidelity began placing a 16 business day hold on funds deposited via check or EFT. I wouldn't use it. Not worth the extra interest! Less regulation then a bank account. Run!

[@worldnomad2301]

I don’t think someone should be using the rates as the big reason to move, especially if the difference is .5-1%. The issue with that philosophy, is that the only reason these rates are high is because the Feds raised their rates. They are starting to drop them, so we could be back to low yields across all platforms. The big reason you would move to Fidelity is to make life simple by being in one ecosystem.

[@steve318k]

4:49 I'm confused. You mention "SPAXX fund fee = 0.42%" ... Is this within the fidelity cash management account or only in this alternative plan you're talking about?

[@somethingclever1234]

same