Why Get the Fidelity Cash Management ATM Card?
A few people have asked me what is the best way to exchange money internationally. There are many businesses in airports and banks that exchange US currency for local currency. However, these exchange centers do not give you the best rate. You can avoid all these exchange centers and go straight to any ATM machine and withdraw at the current exchange rate and pay no fees with the Fidelity Cash Management ATM card.
What are the Features of the Fidelity Cash Management ATM Card?
|Free ATM access||Use your free Fidelity® Visa® Gold Check Card anywhere in the world and we will automatically reimburse all ATM fees.1|
|Free mobile check deposit||Scan and deposit checks with your iPhone®, iPad®, or Android™ with Fidelity Mobile®.|
|Free checkwriting||Get free checks, deposit slips, and online images of your cleared checks.|
|Free Fidelity BillPay®||Receive and pay your bills on the web or on your mobile device.|
|Account dashboard||Manage your cash online from one secure place, where you can pay bills, check balances and transactions, and access money movement options like electronic funds transfers and automatic investments.|
|FDIC insurance||Earn interest on uninvested cash, which is eligible for FDIC insurance coverage up to $750,000—three times more than the typical bank.2
Current interest rates
|Alerts & self-funded overdraft protection||Use the Cash Manager tool to create your own alerts when you have excess cash to potentially invest, or link to other Fidelity accounts for overdraft protection.|
Do You Really Get the Official Exchange Rate?
I measure the official exchange rate on XE.com I did a test by comparing XE.com official rates to the rate I received while pulling money out from ATM’s in Germany and Italy. Here are the results:
In Germany, I received 100 Euros for $125.84. The actual rate I received was therefore $125.84/100 or 1 Euro = $1.2584. As you can see, I only paid 0.00085 over the actual exchange rate, which is almost nothing.
In Italy, I received 210 Euros for $264.26. My actual exchange rate was again $125.84. There were no other additional fees after the fact.
How Do I Get the Fidelity Cash Management ATM Card?
- Sign up for a free account here.
- Choose either to open a Fidelity Cash Management and Fidelity Account at the same time or just Fidelity Cash Management Account.
- Fill out the necessary information.
- Link your checking account to transfer money into the account.
- Withdraw from any ATM in the world for free!
In my opinion, the Fidelity Cash Management ATM card is a must-have card when traveling internationally because of its no-fee ATM withdrawals. There is also a Charles Schwab card that provides the same benefits, but I have not tested it out personally. You can read this comparison between the two on Fatwallet. Not only does the Fidelity card give free international ATM withdrawals, it also can be used domestically whenever you need cash with no ATM fees!
Note: I do not receive any commission for recommending this product. I write this article to share free tips to my readers. Thank you!