Cash Manager funding accounts must be owned fully by the owners of the Fidelity® Cash Management Account they are funding. Eligible accounts include:
- Individual (I) or Joint (J) registrations, including Transfer on Death (TOD) equivalents
- Trust Under Agreement (TRUA)
- A bank account you have previously connected to the Fidelity® Cash Management Account by electronic funds transfer (EFT). (Note that the bank account will only be used to restore the minimum target balance and not be used for overdraft protection.)
If you want a funding account to have the automatic investment (AI) account feature, you must establish AI on the account before linking it to the Fidelity® Cash Management Account via Cash Manager. If an account is already linked as a funding account, and you want to add AI, you must first de-link the account, add in the AI, and then re-link the account to the Fidelity® Cash Management Account via Cash Manager.
The Personal Withdrawal Service (PWS) can be set up on a funding account without de-linking it first.
The same funding account cannot be used to concurrently fund two different Fidelity® Cash Management Accounts using Cash Manager.
Stock Plan Services (SPS) accounts are not eligible to be funding accounts. You can request manual transfers between an SPS account and a Fidelity® Cash Management Account.
If the Fidelity® Cash Management Account is an individual registration in, for example, John’s name, only accounts owned by John can be funding accounts. If the Fidelity® Cash Management Account is a joint registration owned by John and Jane, then funding accounts could be John’s and/or Jane’s accounts and Joint accounts owned only by both John and Jane. Note that only John can set up his individual registered account and only Jane can set up her individual registered account as funding accounts.
Note that trustees on a TRUA account are considered owners of the account and Fidelity uses the TIN or SSN to recognize the identity of the owners. So if the TRUA account uses a TIN and the individual account uses a SSN, Fidelity will not know that the owners are the same person even if they identify the same person.
Any trustee registered on a trust Fidelity® Cash Management Account has access to Cash Manager and may set it up or modify it on behalf of all the trustees. Approval of all trustees for setting up or modifying Cash Manager is not required. This means that any trustee can set the minimum and maximum balance levels for the trust Fidelity® Cash Management Account or designate funding accounts. However, funding accounts must be owned in their entirety by the trustees of the Fidelity® Cash Management Account that they are funding. In other words, all owners and/or trustees on a funding account must be listed as registered trustees on the trust Fidelity® Cash Management Account.
For example, if the trustees on a Fidelity® Cash Management Account are John and Jane, then the following accounts are eligible as funding accounts:
- John’s individual account
- Jane’s individual account
- John and Jane’s joint account
- Trust account for which John is the sole trustee
- Trust account for which Jane is the sole trustee
- Trust account for which both John and Jane are the only trustees
If there is a trust account for which John, Jane, and Mary are the trustees, then this account would not be eligible as a funding account because Mary is not registered on the Fidelity® Cash Management Account.
Conversely, if Mary is a trustee on the Fidelity® Cash Management Account, all the accounts above are still eligible as a funding account because John and Jane are listed on the trust Fidelity® Cash Management Account. The rule that all owners and/or trustees on a funding account must be listed as registered trustees on the trust Fidelity® Cash Management Account is satisfied.
