Fidelity - no longer any fees, 5.21% Money Market, $100 bonus, Airline Miles

Yes, I just called Fidelity again, just to be sure, and the rep told me that the $500 minimum is for IRAs only. There is apparenty no minimum for checks on brokerage accounts.

you can write checks from your IRA.

when you are over 59.5 years of age.

Xeon852 said:

Its via ACH. I wouldn't worry about it. As long as it successfully links, it shouldn't be a problem, although YMMV. Call them or do a webchat if you are worried.

Both you and markkundinger are right, it seemed to be an ACH pull (from the linked saving account). On the saving account side it showed as a direct debit. Hopefully there'll be no fee there. Thanks.

I received an email from Fidelity today saying that the type of the account I opened is not eligible for the $100 offer. I opened an individual investment account, funded $10K the same day, and I am pretty sure that the account qualifies. I don't have other accounts at fidelity except a 401K. When I registered the new account at their website, I had to use the same username and password as the 401k account. Don't know whether this has caused the confusion? Had to call fidelity to get this taken care of.

The $100 offer does not show up in history. It only shows up on the statement. If you qualify to receive the bonus to begin with, you will receive an email with the subject: $100 has been credited to your Fidelity account. Email rec'd on 1/13/07

Then check you next statement, it is listed as "P004 $100 PROMO OFFR" Offer credited on 1/16/07.

wow, well Fidelity called me back after looking into it some more and said that I couldn't get teh $100 and the miles.

I told them that's fine I'd stick with the miles....I'm hopinghte $100 shows up anyway and they don't yank it back.
fingers crossed.

Maybe they figured people were double dipping

Um, doesn't the rule of Hot Deals apply here too??...DON'T CALL!!

In the Highest Interest Combo thread , CycloneFW said: I like how Fidelity allows you to earn interest on available, UNCOLLECTED, funds. I can tell MoneyLine to take out $10k, put the $10k in the MMF immediately (earns interest next day). Meanwhile, the funds are deposited into my acct at Bank X today and don't come out until Today + 2 Days.This wasn't my experience when, last year, I did a moneyline in and bought the MM fund listed in the OP. Rather, interest only was added effective the day the funds were collected.

Can anyone shed light on the discrepancy?

techboyds said: The $100 works for existing accounts, so you could always just add another $10,000 later. That's what I did. I got the miles initially, then when I fell in love with Fidelity's functionality, I transfered in the rest of my savings, and I got the $100. I actually filled out the form a bit after I transfered the money (same day, just a few hours later).

The application page says only eligible to NEW accounts.

How did you get it to work on an existing account?

DaveHanson said: In the Highest Interest Combo thread , CycloneFW said: I like how Fidelity allows you to earn interest on available, UNCOLLECTED, funds. I can tell MoneyLine to take out $10k, put the $10k in the MMF immediately (earns interest next day). Meanwhile, the funds are deposited into my acct at Bank X today and don't come out until Today + 2 Days.This wasn't my experience when, last year, I did a moneyline in and bought the MM fund listed in the OP. Rather, interest only was added effective the day the funds were collected.

Can anyone shed light on the discrepancy?

I just opened the account last week, so I do not have any statements yet to let you know. However, the following is from the prospectus:


Earning Dividends

For the Select money market fund, shares begin to earn dividends on the first business day following the day of purchase.

For the Select money market fund, shares earn dividends until, but not including, the next business day following the day of redemption.


Fortunately, I will be able to let you know what happens at the end of the month. I did a MoneyLine xfer and buy on 4/23. Fidelity shows buy on 4/23, MoneyLine received on 4/24 and Wachovia took out the funds out on 4/25. I will see in a few days how many days of interest I got. This, also means that buys on Friday will NOT accrue weekend interest (darn!).

However, seeing as my settlement date is 4/23 and the prospectus says I should be earning dividends from 4/24, I do not think it will matter whether the funds are collected or not. Now, whether my core earns interest is another story. I think this is the case b/c the MMF has no clue whether I just sold some stock, had a wire xfer, or provision MoneyLine credit. Merely that I had funds available for securities purchase.


NOTE for those interested: I do NOT have a margin acct.

I noted this above, will note it again. Opened account on 4/2, purchased FSLXX with money that was still sitting at USAA. On 4/4 I swapped FSLXX for FFRHX and was paid divvies for 2 full days. The check cleared USAA on 4/4.

Using Moneyline I requested a pull on 4/12 and bought FSLXX. Fido account history shows the transfer on 4/13. USAA paid the transfer on 4/13 as well. On 4/17 I sold the entire position and was paid divvies for 5 full days. Nothing to muddle up either calculation involved. I do find it interesting that Fido pays off the divvies on the sell date if you liquidate the money market fund in its entirety.

It is a cash account, but I highly doubt margin interest would be charged since the money is shown as a credit on the day requested. But since I intend to open a joint margin account in the near future I'll keep a sharp eye on that.

Oh yes, god forbid anyone should buy something that isn't guaranteed!

Thanks CycloneFW. I agree with c3--it's just good fortune that Wachovia gave you an extra float day, rather than that Fido gives you interest on the float.

It took a couple of business days after I got the notification for the $100 to appear.

Does anyone know if it is possible to sell a MMF (FSLXX) at on a given day in the future without having to log in that day or the day before? I'd like to set it up several days in advance.

Because it has a stable $1 value it doesn't seem like it should be that big of a deal but I can't figure out if it is permissible let alone doable on the website.

^^^Thanks Mark. I was looking for something a little bit more fluid than that. I don't have a fixed amount or fixed day of the month I feel comfortable setting it on. For instance, I'd like to sell my complete holding of FSLXX on June 1st. I'd like to set that up now and have it dump into my core on the appropriate date even if I don't log into my account for a week before or after.

Oh well, maybe because it is kind of a security and not a savings account there are reasons why you can't do it that way.

how come i don't have the monthly yield posted?

Has anybody double dipped a month after opening the initial account? I'm assuming I can't (initially opened a joint account, thought about opening an additional individual account at the same address), but thought I'd ask with all the $200 + 25,000 miles posts.

alchemize said: Well I opened the account for $100 about a month ago, deposited 10K and got the $100. Last week I filled out the UAL form, deposited another 10K. Today I see two 15K additions to MileagePlus. What a sweet deal!

Did you open another account when you filled out the UAL form last week? I don't see the form allow you put existing account there.

I am a little bit confused. I just went ahead and signed up for $100 offer and United miles offer. I did $100 first, submitted my application and got to the page where it tells me that to earn the $100 I need to open and fund an account. Then I filled out the United offer application, submitted it, and it also tells me that to complete the process I would need to open an account and fund it. After submitting these two apps, do I need to open yet another account? Btw, I want to stash the money into FSLXX if that makes any difference.

Thanks so much,

Dima

Edit: added last sentence

Well, I guess my question is what do I need to do now to transfer the 10k? Neither application asked me for any transfer info. I did not receive any emails with further instructions or how to log into my account either. Do I need to follow one of those Open Account links and open the actual account after I submit the applications? Open this brokerage account they are talking about?

The information you requested will be sent to you within 5-10 business days via U.S. Mail or E-Mail depending on your request.
If you also included your social security number you are now registered to receive United Mileage Plus miles when you fund a non-retirement Fidelity Brokerage account. If you would like to speak to a Fidelity representative, please call 800-544-3719.

Open a Fidelity Account
Learn about Fidelity Brokerage Services



internetle said:

you did the right thing, you should get both bonuses. if you feel it is not unethical to get extra bonus, fill out both promotions again, you will get both again.