Fidelity Cash Management Account Reviews

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Switched earlier this year and is fine with everything so far, with the exception of bill pay, where mailed checks take at least two weeks to arrive.

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Switched to the CMA a month ago but finds the two-week deposit hold absurd and uses a credit union for deposits instead.

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Uses the Cash Management Account as a main account but was hit twice by problems with Fidelity bill pay when paying credit cards, and points others to the many similar reports.

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Has used it for four to five years with no issues, but found the move from their old bank slow because Fidelity holds incoming pulled transfers for days.

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Says hold times are the biggest problem, since a spouse's work check can be held for two weeks, so the CMA is not their main bank.

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Only complaint is that pulled funds take forever to register as settled cash; otherwise it is great.

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Dislikes the absurd hold time on mobile check deposits but says ATM fee reimbursement is great.

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Has both Fidelity and Schwab, noting Fidelity pays much better yields but holds many deposits for 10 business days.

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Is happy with the CMA but found learning curves, as pulls into the account can take a month to become available while pushes are often same day.

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Says the CMA has been fine but transactions and bill pay are much slower than at a traditional bank, and once sent a paper check to a card issuer.

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Went almost fully to the CMA for ATM, bill pay and direct deposit but keeps a local bank because of its hold times on deposits.

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Found a pull transfer took over 10 days and a push left funds in unclear transit, preferring mobile deposit if not for the 10-day hold.

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Wanted to switch fully to the CMA but a state refund check was held for 30 days with no upfront notice of the hold length.

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Very happy with the CMA overall but warns that Fidelity holds funds for a very long time when first set up.

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After learning about deposit holds the hard way, uses the account like checking but handles paper checks through a two-step process via a credit union.

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Had to wait two weeks for a large sum to become available after a pull transfer.

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Hit a low daily mobile check deposit limit and a three-week transfer hold on their CMA, so deposits checks to a brokerage account instead.

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Calls the account absolutely horrible because of 10-plus-day holds on deposits.

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Had a large transfer pending for almost two weeks after pulling from Fidelity and found customer service useless.

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Says Fidelity places excessively long holds on deposits so they cannot recommend it as a bank replacement.

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Says pulling funds out for bill payments has always taken 7 to 14 days.

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Was told Fidelity is not a bank when mortgage money stayed on hold for a month with no clear date.

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Loves earning real interest on checking but finds the 10-day check deposit hold silly and check images missing in the Android app.

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Finds transactions seamless like a regular debit transaction but warns to mind deposit hold times.

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After funding new CMAs by transfer and cashier's check, was told to wait over 14 days for the money and says support offered no help.

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A small landlord whose CMA still has a low photo check deposit limit and 10-day clearing, which prevents switching.

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Was forced to close the CMA because of 30-day holds whether funds were pushed or pulled, and opened a brokerage account instead.

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Opened a CMA hoping to use it for household cash management but found it falls short, with check deposit limits and holds and slow availability of incoming ACH.

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Learned Fidelity takes two weeks to settle an ACH cash transfer pulled from another bank, which they found annoying.

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Says Fidelity held even a tiny transfer from a linked Chase account and advises against relying on the CMA.

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Recently opened a Fidelity CMA; only complaint so far is extended hold times on deposits pulled from a bank account.

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Has had mobile-deposited checks fail and says funds sometimes cannot be withdrawn without a lengthy wait, so uses it mainly for the debit card.

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Found that pulling funds from the Fidelity side took 13-14 actual days, while pushes from the bank arrived by Monday.

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Misses Zelle and finds deposits to the CMA are not as fast as on Ally.

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Moved away from the CMA as main account after Fidelity instituted extreme hold times on pulled funds.

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Says the CMA lost credibility when Fidelity suddenly lengthened hold times with no notification.

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Regretted relying on the CMA after Fidelity introduced long deposit holds and moved everything to another bank.