JoMoney wrote: ↑Sat Aug 27, 2022 6:17 pm
LoveTheBogle wrote: ↑Sat Aug 27, 2022 3:04 pm...
6. Are the ATM reimbursements automatic on the brokerage side if you qualify for free ATM fee reimbursement? Does it actually show up on a statement as a charge and then a credit or doesn’t show up at all?
Everyone with a CMA qualifies for ATM fee reimbursement in the CMA account, and it shows on the statement as a separate credit "ATM FEE REBATE".
With the non-CMA brokerage account I assume it would work the same way, but as I mentioned up thread it didn't happen for me automatically, despite being told before I opened the account that it would because I have Private Client Group status. After not getting an ATM fee rebated though, I called back in and being put on hold to 'research' it, the answer came back that I would need to get assigned to a PCG rep specifically (I don't currently have a rep assigned) and work with them if I wanted to get ATM rebates on a brokerage account. Others have reported a different experience. I just went back to using the regular CMA account since there's no hassle getting the rebate from that account.
Thanks for sharing this! So far almost everything seems to be working like clockwork with us our opening up a Fidelity CMA with no funding and then setting up the overdraft feature with our Fidelity brokerage account, where our two paychecks are now deposited. There have just been two items I may not have set up correctly: 1) being able to link to Remitly (for when my wife periodically sends funds to her brother in the Philippines, usually to help when there has been a death or weather damage with the extended relatives) and 2) getting the automatic ATM Fee Rebate to work for us.
When we entered the Fidelity CMA account information at Remitly we received the following error message:
"We couldn't verify your bank account. Check your routing and account numbers or use a debit or credit card."
We have Remitly hooked up to our BoA checking account so we can always use that, but I was hoping to draw down the balances at the BoA as we try to get Fidelity to be our primary bank.
Regarding the ATM Fee Rebate, we did two test ATM withdrawals on 8/22, each for $20 with a $3 service fee added to each, for a total cost of $46. The overdraft feature worked just fine, pulling $46 from our brokerage account to the CMA to cover the ATM withdrawal and fees, but as of today, I am not seeing any rebate in our joint CMA ATM Fee Rebate history.
Any thoughts on what I might have down incorrectly with regard to these two items?
Regards,
Joe