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Fidelity® Youth Account: Earn $50 reward once account is activated

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Update: This popular deal is still available.

Open a Fidelity® Youth Account for your teen, and $50 will be deposited into their account. No account fees or minimums.

Account Benefits:
  • Your teen will get a $50 reward once they download the Fidelity mobile app and activate their Youth Account.¹
  • No monthly fees or account minimums.
  • They can invest in stocks for as little as $1 with fractional shares.²
  • Your teen can learn to save and spend smarter with their own debit card with no domestic ATM fees.³
  • Teens can link their account to mobile payment apps like Venmo and PayPal.⁴
  • Parents can set up alerts and monitor their teen's account activity online, and through statements, trade confirmations and debit card transactions.
  • Dedicated Youth Learning Center to help jumpstart your teen's financial learning and build better money habits.
Slickdeals is not registered as an investment adviser under the U.S. Investment Advisers Act of 1940, as amended, and nothing in these materials should be construed as advice concerning securities, the value of securities, the advisability of investing in, purchasing, or selling securities, or the merits of any investment adviser.
Disclosures:
  • The Fidelity Youth Account can only be opened by a parent/guardian. Account eligibility limited to teens aged 13-17.
  • ¹Limited Time Offer. Terms Apply. Before opening a Fidelity Youth Account, you should carefully read the account agreement and ensure that you fully understand your responsibilities to monitor and supervise your teen's activity in the account.
  • ²Fractional share quantities can be entered out to 3 decimal places (.001) as long as the value of the order is at least $0.01. Dollar-based trades can be entered out to 2 decimal places (e.g. $250.00).
  • ³Your Youth Account will automatically be reimbursed for all ATM fees charged by other institutions while using the Fidelity® Debit Card at any ATM displaying the Visa®, Plus®, or Star® logos. The reimbursement will be credited to the account the same day the ATM fee is debited. Please note, for foreign transactions, there may be a 1% fee included in the amount charged to your account.
  • ⁴Venmo is a service of PayPal, Inc. Fidelity Investments and PayPal are independent entities and are not legally affiliated. Use a Venmo or PayPal account may be subject to their terms and conditions, including age requirements.
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Original Post

Written by
Edited May 9, 2022 at 11:37 AM by
Fidelity

For those interested

Note, offer valid for a limited time only or while promotion last

This may be useful for parents/guardians looking to jump-start their kids financial learning
Quote :
Introducing the Fidelity Youth Account. Accessible through the Fidelity Mobile App [fidelity.com], the experience is customized for teens 13 to 17 to help them learn to save, spend, and invest.
For a limited time when you open a Fidelity Youth Account for your teen, they will get a $50 reward

Parent/guardian must have a Fidelity account first, so you can provide hands-on support, monitor their account, easily transfer money, and more. You can open accounts for yourself and your teen with no account fees or minimums.
  • Free Debit Card
    • Teens get a free debit card, with no subscription fees, no account fees, no minimum balances, and no domestic ATM fees
  • Save Early
    • Investing can help teens take advantage of compounding early to help them grow their money over time
  • Empowering teens with education
    • Teens can access a financial curriculum made just for them—so they can learn about saving, spending, investing, and more
  • Secure app
    • Teens can manage their money and invest using Fidelity's secure mobile app, plus link to payment apps like Venmo and PayPal.3
FAQ
  • Starting on January 24, 2022, when you (parent or guardian) initiate the opening of a new Youth Account and your teen (aged 13–17) downloads the Fidelity Mobile App and activates the new account, your teen will receive a $50 deposit as a reward
  • In order for your teen to receive the $50 reward offer, you (parent/guardian) must initiate the opening of a new Fidelity Youth Account through Fidelity.com/YouthAccount [fidelity.com] and your teen (aged 13–17) must download the Fidelity Mobile App and activate the new account on or after January 24, 2022
    • Parent/guardian must have their own Fidelity brokerage account to open an account for their teen.
    • Parent/guardian must initiate the application process and once completed, the teen will receive instructions on how to download the Fidelity Mobile App and activate their account.
    • No further investment or trading is required to qualify for the offer
    • Age of account applicant. Youth Accounts are only available for teens aged 13 to 17. If your teen is 18 or 19, they may apply for a different account type [fidelity.com] and/or offer instead
    • Limited to one offer per customer
    • Non-US residents are not eligible
  • The reward will be deposited directly to the eligible account within 10 calendar days after the teen has downloaded the Fidelity Mobile App and activated their account (which entails creating a username/password, and logging into the mobile app and accepting account agreements). Amounts deposited by Fidelity in the form of the reward will be initially held in the Fidelity Government Money Market Fund, the eligible account's core position.
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Questions & Answers BETA
shsd asked this question on 02-23-2022 at 11:44 AM
03-02-2022 at 09:53 PM
From their web site:
You (parent/guardian) or your teen are encouraged to consult with a tax professional about appropriate tax reporting and treatment relating to this offer and the deposit of the reward in your teen's account.
03-03-2022 at 11:45 AM
From terms and conditions https://www.fidelity.com/go/youth-account/terms-conditions

Cumulative bonus awards credited to taxable accounts associated with your teen's social security number or tax identification number, as applicable, including those held at an affiliate of Fidelity, totaling $600 or more within a calendar year will appear on their consolidated Form 1099. You and your teen are encouraged to consult with your tax professional about appropriate tax reporting and treatment relating to this bonus award and the deposit of the bonus award in your account. Any taxes resulting from the bonus award are your teen's responsibility.
anothauserhere asked this question on 01-27-2022 at 01:09 PM
02-04-2022 at 08:17 PM
No the teen can access their account through fidelity website just like all other accounts.
03-03-2022 at 11:58 AM
My opinion: Usually the app store will let you install apps over wifi.
I don't know if the youth app is different from normal app. On the normal app I don't see a way to activate a new account. It should work to use a cell without a phone# attached. I would also try logging in on the website to create a username and password and accept the terms of service.

From Fidelity's pages:
"In order for your teen to receive the $50 reward offer, you (parent/guardian) must initiate the opening of a new Fidelity Youth Account through Fidelity.com/YouthAccount and your teen (aged 13–17) must download the Fidelity Mobile® App and activate the new account on or after January 24, 2022."

"The bonus award will be deposited directly to the eligible account within 10 calendar days after the teen has activated their account through the Fidelity Mobile App. "

"Your teen will get a push notification on their phone when the $50 reward has been deposited into their account."
Galahad asked this question on 04-06-2022 at 02:57 PM
04-06-2022 at 02:59 PM
Sorry for the clumsy way to put the info out there. Opened the account a few days ago after my daughter turned 13. Finished the enrollment today after they checked her ID papers. Logged into her account webpage and had the bad surprise to realize she will now be able to see the balance on two UTMA accounts in her name. Just something to be aware of.
05-02-2022 at 10:40 PM
This can be changed by contacting Fidelity and asking for a different identification number for this youth account that doesn't match directly to the child's SSN. It will then create a separate account for login purposes.
SpencerC88 asked this question on 01-26-2022 at 09:23 AM
02-01-2022 at 11:11 AM
Not sure. You can check out this site for bank bonuses. https://www.hustlermoneyblog.com/best-bank-promotions/

Typically, there won't be any bonuses for minors, but you could always open another account for bonus yourself.

Some credit unions offer Youth accounts for minors that offer semester earning credits for good grades. Just depends on where you're at and what's available. You can go to the credit union's website and see if something like that is available.

Good luck!
DeeDon asked this question on 02-06-2022 at 08:48 AM
02-17-2022 at 04:48 AM
Per Fidelity - How long does the $50 promotional offer last? This offer is available for a limited time and Fidelity reserves the right to terminate the offer at any time.
JakedUp asked this question on 02-23-2022 at 08:54 AM
03-02-2022 at 09:54 PM
No according to Fidelity.
These responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered. Opinions expressed here are the author's alone, not those of any bank, credit card issuer, airline or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.

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#106
Wow, there is so much bad information on this thread, it's scary.
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#107
Quote from billyloon :
529 plan
Why not a life insurance policy instead? You get a death benefit, a cash value account that grows tax free, you're not limited to using the money for educational purposes, and you can borrow money from it without penalty. Also, when your child applies for financial aid, the cash value in the life insurance won't be factored into the financial aid calculation allowing your child to get more financial aid.
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HIDDEN
02-10-2022 at 11:06 PM
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#109
Quote from supertek75 :
Why not a life insurance policy instead? You get a death benefit, a cash value account that grows tax free, you're not limited to using the money for educational purposes, and you can borrow money from it without penalty. Also, when your child applies for financial aid, the cash value in the life insurance won't be factored into the financial aid calculation allowing your child to get more financial aid.
If you have enough assets then life insurance is an inefficient investment vehicle. I have a masters in finance and have spent a lot of time evaluating the cost-benefit analysis. Life insurance is appropriate for some people without enough assets to protect their family if they kick the bucket, but it's definitely not for everyone.
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#110
Quote from Colabeer :
Rich people do this but I think the masses prefer to do the 529 to pay high fees form low quality products
It's clear from this statement that you aren't familiar with 529 options.
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#111
Quote from johnord :
Wow, there is so much bad information on this thread, it's scary.
This.

People, please don't get your financial information from random people on an internet forum. Educate yourself.
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#112
I have a niece and nephew where I deposit $1k each every year into a savings account. They are 10 and 7 now. Any recommendations on where to keep their money? The interest rate they get at HSBC is practically nothing. Thanks in advance!
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#113
Quote from Antx227 :
I have a niece and nephew where I deposit $1k each every year into a savings account. They are 10 and 7 now. Any recommendations on where to keep their money? The interest rate they get at HSBC is practically nothing. Thanks in advance!
Perhaps CDs? I'd love to know too.
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#114
Dayum....kids too young...good deal none the less. Would have loved it for my 2 young ones.
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#115
$50 is a drop in the ocean compared to the many benefits of having an app that:
1. Encourages kids to build a strong work ethic by doing chores without reminders, which is a big win for everyone. ✅ 🥳
2. Allows you to set a % for spend, save, give, so when you approve their payday, everything's automatic. 🪣 💵
3. Allows them to use their savings to buy stocks, with your approval, encouraging great discussions along the way. E.g.: My daughter wanted to buy stock in Bumble because she likes bees. 🐝 😆
* Stocks have WAY more potential to grow then a savings account or CD. 💹 🤑

The potential values are endless. Check it out:
https://busykid.com/

On a related note, I would highly highly recommend this book that explains how money works with easy to understand visuals.
https://www.amazon.com/gp/aw/d/1465444270
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#116
Quote from Antx227 :
I have a niece and nephew where I deposit $1k each every year into a savings account. They are 10 and 7 now. Any recommendations on where to keep their money? The interest rate they get at HSBC is practically nothing. Thanks in advance!
Never understood why people do this. Why don't you just set aside the money in your own account and then gift it to them when they become of age? Then you can grow it with any options you like for their entire childhood. Gives you full flexibility and keeps you in control in case the kids don't turn out as you anticipated. My friends nephews grew up in a stem household experiencing golf, piano, and dance only to end up as buskers playing guitar on the street. You just never know.

There are gifting limits but you can get around those by gifting to the limit in multiple years if you are only looking at 1k each year. Someone of age will need the money a lot more as an adult compared to as a child.
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#117
Teach them how to yolo into Gme
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#118
Quote from eliteconcept :
Why even make it optional? My 11 yr old has had one (savings acct) for 7 years now... he knows that for Christmas and birthday money he spends half and saves half. He's got over 2k at this point and knows he can't touch it till he starts driving... even then it'll be emergency need only. Though we did give him alot of the money we got for him from stimulus money. His 4 year old sister is doing the same thing. Need to move them into money markets or something but I'm not overly worried about it.
Teaching your kids about finance and investing from an early age is great parenting, and something all parents should be doing. Unfortunately, a lot of parents never learned how themselves. Good on you, sir.
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#119
Quote from big_wake :
Open one. If you already use a low cost provider like Vanguard, then just put a small token amount into your Fidelity account. If you don't have a brokerage account anywhere, then you definitely want this. Even if you don't have extra funds to put into it, set it up initially with a very small weekly or monthly auto deposit.

Most other savings and debit card options for teens are rip-offs. This is a really good option and pretty most won't cost anything.
Does it have to be a brokerage account, or cash management account?
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#120
im getting a message saying i cant use the promo, any reason why?
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