fidelity cash management accounts

therbert

i have a bundle of fidelity accounts and just added a CMA account. it's coming up as a brokerage account. should't it be a checking account? there are a lot of old threads so looking for how folks are handling now.

John_in_NC

Your "cash" is likely held in a money market fund behind the scenes. 

It doesn't matter how you point Quicken to the account (Fidelity Investment or a Checking Account), the outcome will be the same. It is how Fidelity is presenting the account to Quicken.

John_in_NC

This isn't all that uncommon.

To you, it appears as a checking account, but it really is a tie in with a brokerage account behind the scenes.

You could certainly create this as a checking account and handle it manually if you prefer. But, if you want automated download, the easiest thing is to choose to show different columns in your register that will make it appear more like a checking account. (Show Check #, ability to write checks, Payee versus Type, Category, etc.) 

You can make this work as a regular checking account.

therbert

By tie in you mean you can send $to brokerage account. I get the nuance But you don’t have funds in this account so ... that’s why in my brain it should sit under bank accounts.

I thought possibly it was because i used fidelity investment Mac to connect instead of one of the other accounts.

Thanks for your take on it.

John_in_NC

Your "cash" is likely held in a money market fund behind the scenes. 

It doesn't matter how you point Quicken to the account (Fidelity Investment or a Checking Account), the outcome will be the same. It is how Fidelity is presenting the account to Quicken.

therbert

thanks