[Expired] Fidelity $100 Bonus with Cash Management (No Requirements Other Than $50 Deposit)

Update 1/17/24: Back again but only $100.

Update 12/5/22: Back again, but down to $100.

Update 11/21/22: Bonus has been increased to $150 with code FIDELITY150, valid through 12/2/22 (ht xt2201)

Offer at a glance

• Maximum bonus amount: $100 $150
• Availability: Nationwide
• Direct deposit required: No
• Additional requirements: $50 deposit within 15 days
• Hard/soft pull: Soft pull (make sure not to opt in for margins on the brokerage account)
• ChexSystems: Unknown
• Credit card funding: None
• Monthly fees: None
• Early account termination fee: None mentioned
• Household limit: None listed
• Expiration date: December 2, 2022  05/11/2023

The Offer

Direct link to offer

• Open a Fidelity Cash Management account, investment account, Roth IRA, or Traditional IRA account and get $100 bonus when you deposit $50 within 15 days. Use promo code GB100.

The Fine Print

Terms

• Starting on November 17, 2022, when you open an eligible account and make a deposit of $50 or more, you’ll receive a $150 cash reward deposited into the eligible account that qualified you for the offer. Fidelity reserves the right to modify the terms and conditions or terminate the offer at any time. Other terms and conditions or eligibility criteria apply. See terms and conditions for more information.

In order to receive the $150 bonus award, users must complete the following:

• Fund the account with a minimum of $50 (“net deposit’) from an external, non-Fidelity source.
• The net deposit at the end of the 15 calendar days after account opening (“the qualification period”) must be at least $50.
• For purposes of this offer, “net deposits” shall mean total external deposits or transfers (including cash, eligible securities and/or margin debit balance transfers) minus assets withdrawn or transferred out of the accounts within the qualification period.
• As a confirmation of your registration, an email will be sent to the email address you provided during the account opening process after the eligible account has been established in good order.
• Eligible accounts include The Fidelity Account, Fidelity Cash Management Account, Fidelity Roth IRA, or a Fidelity traditional IRA. No other accounts are eligible for this offer.
• For individuals who open a Roth or traditional IRA account, in order to be eligible to contribute to the IRA (traditional or Roth) you will need to have earned income at least equal to any IRA contribution made for 2021. Individuals who max out their contribution for the calendar year are also not eligible for the bonus award. If an individual has no earned income, they will not be eligible to make contributions to the Roth or traditional IRA and as a result not eligible for the bonus award.
• Account holders must maintain the bonus award (minus any losses related to trading or market volatility, or margin debit balances) in the account for at least 90 days from the date on which the bonus award is credited to the account. Fidelity may charge accounts that fail to comply with this requirement the cost of the bonus award.
• Update 5/11/23: new terms added: “Individuals who took advantage of the previous $50 for $100 offer or the previous $50 for $150 offer aren’t eligible.”

The bonus award will be deposited directly to the eligible account within 10 calendar days after the qualification period. Amounts deposited by you to qualify for the offer and by Fidelity in the form of the bonus award will be initially held in the eligible account’s core position. You will be provided information regarding the available core positions for the account type you select during the account opening process. Depending on the account type you select, you may have the option of selecting a money market fund sponsored by a Fidelity affiliate as your core position. No further investment or trading is required to qualify for the offer.

• This offer is nontransferable and limited to $150 per individual. Individuals who took advantage of Fidelity’s previous $50 for $100 offer within the last 12 months will not be eligible for this offer.
• The promotion is not available for the following account types/products: Rollover IRAs; mutual fund only accounts; business accounts (including those opened by union officials); trust accounts; fiduciary accounts (including custodial accounts, estate accounts); college investment trust accounts; 529 college savings plan accounts; annuities; Fidelity-managed accounts offered by Fidelity Personal and Workplace Advisors LLC; Fidelity Clearing and Custody Solutions (FCCS) clients; clients of registered investment advisors working with Fidelity Investments, and Stock Plan Services accounts. This offer is not valid for non-US residents; persons employed by FINRA or a securities organization in a regulatory capacity; employees of Fidelity, its affiliates, and members of their immediate families and households; or the media who cover financial services.
• Certain states and local jurisdictions have laws that limit or restrict public employees from accepting items of value from vendors such as Fidelity that provide services to public institutions. Some public entities such as governments, state universities, health care organizations, etc., also have internal policies that may contain similar restrictions. If you are a public official or employee, you should determine if one of these laws or internal policies applies to you. By accepting the bonus award, Fidelity assumes that you are in compliance with your jurisdiction’s laws and institution’s internal policies.
• Cumulative bonus awards credited to taxable accounts associated with your Social Security number or tax identification number, as applicable, including those held at an affiliate of Fidelity, totaling $600 or more within a calendar year will appear on your consolidated Form 1099. You are encouraged to consult with your tax professional about appropriate tax reporting and treatment relating to this bonus award and the deposit of the bonus award in your account. Any taxes resulting from the bonus award are your responsibility.

Avoiding Fees

These accounts have no monthly fees or early termination fees to worry about.

Our Verdict

Fidelity doesn’t typically offer any bonus for opening a cash management account or for opening a brokerage account. We did see a $200 bonus back in 2018, but I wouldn’t hold out for something like that. More recently we saw $100 offer and $50 offer, but both were more complicated. This is a simple $100 $150 bonus with no requirements other than a $50 deposit. Also has a quick bonus payout within 25 days and no fees to worry about. Just be sure to leave the $100 there for 90 days, per terms.

It seems from the fine print that the bonus won’t be reported on a tax form since it’s less than $600, though legally you probably have to self-report this kind of income. (See additional tax discussion related to this from a previous Fidelity deal in the comments at this link.)

If you already have an account with Fidelity, you can open another eligible account and get the bonus, e.g. if you have the Cash Management account, you will be eligible for the $100 $150 bonus if you open an investment account (either open The Fidelity Account – which I believe means a standard investment account – or open a Roth IRA or a traditional IRA) and deposit $50. Readers note that it’s even possible to have two Cash Management accounts, and readers reports being eligible for a similar bonus in the past by opening a second one.

We’ve added this to our list of Best Bank Bonuses and our list of Best Brokerage Bonuses.

Hat tip to reader icarus and to uscreditcardguide

Useful posts regarding bank bonuses:

• A Beginners Guide To Bank Account Bonuses
• Bank Account Quick Reference Table (Spreadsheet) (very useful for sorting bonuses by different parameters)
• PSA: Don’t Call The Bank
• Introduction To ChexSystems
• Banks & Credit Unions That Are ChexSystems Inquiry Sensitive
• What Banks & Credit Unions Do/Don’t Pull ChexSystems?
• How To Use Our Direct Deposit Page For Bank Bonuses Page
• Common Bank Bonus Misconceptions + Why You Should Give Them A Go
• How Many Bank Accounts Can I Safely Open Within A Year For Bank Bonus Purposes?
• Affiliate Links & Bank Bonuses – We Won’t Be Using Them
• Complete List Of Ways To Close Bank Accounts At Each Bank
• Banks That Allow/Don’t Allow Out Of State Checking Applications
• Bank Bonus Posting Times

Post history:

• Update 7/25/22: Offer is back at this link. Same promo code FIDELITY100. (ht Chase-ing UR Points and alopez14)
• Update 5/30/22: New offer link. Same promo code FIDELITY100; Update 2/1/22: Deal is back at this link. Same promo code FIDELITY100. Hat tip to Chase-ing UR Points