Fidelity CMA vs checking account
Does anyone use the Fidelity Cash Management account in place of a checking account at a bank? I'm thinking about switching but wanted to see if anyone has first hand experience with this. Offers 2.7% APY vs. like 0% with a checking account. "The Fidelity庐 Cash Management Account (FCMA) is a brokerage account that鈥檚 an alternative to a bank account. It gives you the flexibility to access your cash whenever you need it while still allowing you to put your money to work Fidelity庐 Cash Management Account (FCMA) features include zero account fees, zero minimums, zero ATM fees, free check writing and deposits, and a debit card to access your money at any time when you need it. Plus, get up to $1.25 million in FDIC insurance, which is 5X more than a typical bank offers."