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Many thanks for the very helpful comments and efforts to get me up to speed.
Why 12? Trying to stay under $10k? I've done plenty of larger transfers without issues.Changed mine today.
I'm considering going back to Fidelity CMA as my daily checking account. Although my Chase checking is "free", I'm losing a good $300-$500 per year in dividends. Back when interest rates were zero, it didn't matter. Trying to decide if I want to go through the pain of moving about a dozen monthly direct debits back to Fidelity.
I think Patrick was talking about the hassle of changing autopays from one account to another.Why 12? Trying to stay under $10k? I've done plenty of larger transfers without issues.
Yes I am thinking autopay reset can be a pain.I think Patrick was talking about the hassle of changing autopays from one account to another.
I just did 11 of the 12 autopay changes. Took about 30 minutes, so not that big of a deal. My electric company wouldn't let me change it (yet) due to being so close to the due date.Yes I am thinking autopay reset can be a pain.
Same hereI’ve always had SPAXX for my core position, but I usually move it to FZDXX when it gets high as it’s rate has been slightly higher.
Regarding core positions in CMAs: Fidelity To Offer SPAXX As A Core Position In Cash Management Accounts Beginning Next Week.Hi All,
Had quick call yesterday with our Fidelity advisor - we do once every three months just to catch up a bit.
He noted SPAXX was now allowed as a core position for Cash Management accounts - when you open the account there is a banner asking if you want to change - easy one to change since I was manually moving funds to SPAXX when they hit the CMA (we call it the Ops Account ).
We also discussed what to do with cash - I had been buying CDs, and we had previously discussed. I think we settled on moving all the SPAXX cash in the main account to FDZXX ... haven't executed this, yet. Any better options? I do want to keep a substantive (for us) cash account.
Thoughts?
100k minimum, but that is just to open the account. No minimum balance thereafter.Regarding core positions in CMAs: Fidelity To Offer SPAXX As A Core Position In Cash Management Accounts Beginning Next Week.
FDZXX is Fido's highest interest MM (I'm pretty sure), but the minimum investment is $100K. Even if you're talking about that much money, you need to compare rates after taxes, which will depend on your state.
SPAXX yield is just slightly lower than FZDXX so unless you keep large amounts in your CMA I wouldn’t worry about it.Regarding core positions in CMAs: Fidelity To Offer SPAXX As A Core Position In Cash Management Accounts Beginning Next Week.
FDZXX is Fido's highest interest MM (I'm pretty sure), but the minimum investment is $100K. Even if you're talking about that much money, you need to compare rates after taxes, which will depend on your state.