CMA acts as a high yield savings account. Only cash in there with default position set to SPAXX.
Brokerage has investments only and Fidelity Lockdown enabled (no transfers out).
I don't have debit or check writing on either. For people that are recommending using a regular brokerage as checking, be advised that unless you have $250k in THAT account, it may not refund ATM fees. The $250k for ATM refunds isn't across all accounts, it's per account. At least that's what Fidelity recently told me. So if you're planning on using an ATM card, get a CMA.
Brokerage has investments only and Fidelity Lockdown enabled (no transfers out).
I don't have debit or check writing on either. For people that are recommending using a regular brokerage as checking, be advised that unless you have $250k in THAT account, it may not refund ATM fees. The $250k for ATM refunds isn't across all accounts, it's per account. At least that's what Fidelity recently told me. So if you're planning on using an ATM card, get a CMA.
Statistics: Posted by NYCaviator — Tue Jul 16, 2024 6:47 am