audreyh1
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Thanks Much - they certainly don't explain those bolded parts in the videos or FAQs.The Fidelity offerings are somewhat confusing.
CMA
o Only FDIC available as sweep (low APY), but you can buy a MMF (e.g. FZDXX).
o The MMF held in the CMA will be liquidated automatically to meet debits (you don't need to link or do anything).
o Any credit to CMA goes to the FDIC sweep -- you need to manually purchase the MMF if you want a higher APY.
o ATM fees are reimbursed.
o You can link a brokerage account to the CMA to provide additional funding possibilities.
I did verify that my cash management account would let me make a trade to buy shares of FDRXX. News to me.
I prefer not to link the CMA to another account in case something goes wrong with my ATM card. This is only an issue if I am traveling and usually only overseas, not the rest of the year because I don't normally carry it.
So, you are telling me that I don't even have to set up the Cash Manager Tool if I move funds to a MM fund inside of my Cash Management Account. That fund will be automatically withdrawn from if a bill exceeds my core position?
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