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Fidelity Cash Management Account

Editor reviewed

1.84% APY default sweep or 3.27-3.36% via SPAXX, with unlimited ATM rebates

Rates verified July 23, 2026
High-Yield Savings
Open account
Tracked since2026
0 reviews tracked

The Bottom Line

APY
1.84% (verified Jul 23, 2026). All rates and fees

Key facts

  • Min. deposit: None
  • Monthly fee: None
  • Insurance: FDIC insured

Pros

  • Best all-around spending and access features of any CMA
  • SPAXX yield competitive
  • Unlimited worldwide ATM fee rebates

Cons

  • Default FDIC sweep rate (1.84%) is poor
  • You must actively choose SPAXX
  • Money market core is not FDIC insured

At a glance

Rates verified July 23, 2026
APY
1.84%
APY note
Default FDIC deposit sweep rate; alternatively hold SPAXX money market core, 7-day yield 3.27-3.36% (SIPC-covered, not FDIC)
Minimum deposit
None
Monthly fee
None
FDIC
Sweep across program banks up to $5M aggregate (verify current program max); SPAXX is SIPC-covered, not FDIC
Institution
Fidelity Brokerage Services
ATM access
Yes

How this rate compares

4.8x

the FDIC national savings average of 0.38% (August 17, 2026). On a $10,000 balance that is about $146 more in a year.

Last verified July 23, 2026

We re-verify against the issuer's own page when we refresh this listing, and we stamp that date. We do not claim a daily check.

APYs are variable and can change at any time. The FDIC national average is a floor for what an ordinary savings account pays, not a competitor. Named comparisons use each product's last issuer-page check.

Is it worth it?

$184 a year on a $10,000 balance

At 1.84% APY, $10,000 earns about $184 in the first year, versus roughly $38 at the 0.38% FDIC national average (August 17, 2026). That is about $146 more for moving the same money. APY is variable and shown as of the date above.

What is Fidelity Cash Management Account?

Editorial review
The Fidelity Cash Management Account has the best all-around spending and access features of any cash management account, with one crucial catch: never leave money in the default sweep. The honest verdict: excellent as a spending hub if you actively choose the money market core, poor if you accept the default. The account offers two yield positions as of mid-July 2026. The FDIC-insured deposit sweep pays 1.84% APY, spread across program banks up to a cited $5M aggregate (verify the current program max). Alternatively, holding the SPAXX government money market fund as the core earns a 7-day yield of 3.27 to 3.36% per Fidelity's fund pages dated July 16-21, 2026, though SPAXX is SIPC-covered, not FDIC insured. There is no minimum deposit, no minimum balance, and no monthly fee. Access is best-in-class: a free ATM card with unlimited worldwide fee rebates, checkwriting, bill pay, fast transfers, and full brokerage integration. The catch: the default sweep rate is poor, and you must actively choose SPAXX, accepting that money market funds carry no FDIC insurance.
how we evaluateSourcefidelity.com ↗

Key details

Free ATM card with unlimited worldwide fee rebatesCheckwriting and bill payFull brokerage integrationMoney market core option (SPAXX, 7-day yield 3.27-3.36%)FDIC deposit sweep across program banksNo minimums or fees

Explore more

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Fidelity Cash Management Account FAQ

What is the current yield on the Fidelity Cash Management Account?

Two positions as of mid-July 2026: the default FDIC-insured deposit sweep pays 1.84% APY, while holding SPAXX government money market as the core earns a 7-day yield of 3.27 to 3.36% per Fidelity's fund pages dated July 16-21, 2026.

Is the Fidelity Cash Management Account FDIC insured?

The deposit sweep is, across program banks up to a cited $5M aggregate (verify the current program max). The SPAXX money market core is SIPC-covered, not FDIC insured.

What are the minimums and fees?

There is no minimum deposit, no minimum balance requirement, and no monthly fee. ATM fee rebates are unlimited.

Source: fidelity.com

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