How can I change my Fidelity Cash Management account to "banking"?

Wbrehm · February 2022

Fidelity Cash Management account (which is a checking account) is categorized under "investing-brokerage". I would like to change it in Quicken so it is a cash account that falls under banking. Under settings it is a brokerage account with no option for cash account. Is there a way to do that?

Jon · February 2022

You can't. Even though the primary purpose of the CMA is to function like a checking account, you can use it to purchase securities as well so it has to be treated like an investment account, which means it's going to get lumped in with other investment accounts.

There are a couple feature requests over in the suggestion forum to make the sidebar more customizable, you might want to add your vote to those.

https://community.quicken.com/discussion/7907009/feature-request-allow-accounts-to-be-organized-into-folders

https://community.quicken.com/discussion/7907965/add-an-option-to-re-order-accounts-in-the-sidebar

NotACPA · February 2022

And, legally, a Fidelity CMA account is NOT a checking account ... even though it functions as if it were one. It's a "Share draft" account against your MMF holdings ... not cash.

Fidelity Investments is a brokerage firm, not a bank, and BY LAW they cannot offer checking accounts ... only a bank can do that.

Wbrehm · February 2022

Thanks for the above comments. I voted on the above links.

How can I change my Fidelity Cash Management account to "banking"?

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