After I dumped Wamu, it's time to move on.Because of my tax bracket, most of my cash is in my tax-free Fidelity money market FTEXX (my Fidelity core). I originally got it because my landlord sometimes takes, say, two months to cash a check. Now, it's my main account. I love all the features that money market. The BillPay is light speed, and I can write checks over $500. It had already replaced Wamu except for ATMs and smaller checks...
Enter Fidelity's Mysmartcash! (Everything you ever wanted to know here).
* connected to my Fidelity money market for almost instant transfers
* free ATMs plus fee refunded on any Visa ATM, so pretty much any ATM, even internationally!
* automatic autodraft and transfers from the money market
* free checks and a gorgeous checkbook cover
This has got to be the coolest feature ever. You set a minimum for the Mysmartcash account. If the account goes below that balance, it transfers from the money market overnight. Same with overdrafts. I never have to check the balance, there's always enough cash! SWEET!
Cons:
Third party checks are a hassle, and no miscellaneous services like cashiers checks and so on. We started a small joint credit union account to deal with this. It took us about 20 mins. The Mysmartcash and the credit union are our first joint accounts!
So, kiss my grits, Wamu. I'll even walk an extra half-block to use the credit union's ATM so that Fidelity doesn't refund your lousy Wamu ATM fee. I'm never paying fees again!
2 comments:
We've had money in Fidelity Cash Reserves for years but have never used it as a bank account. I was always under the impression that withdrawals were limited to six a month -- a detail that you may want to confirm.
They sound pretty good.
I think I'll still stick to my ING, but now I'll look into Fidelity when I move to the U.S.
Fabulously Broke in the City
Just a girl trying to find a balance between being a Shopaholic and a Saver...
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