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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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#211
Has anyone found a good way for your teen to transfer money out of the account? I bought an I-bond for my daughter (since she is a minor funds came out of my treasury-linked account to do this) but she can't transfer money from her Fidelity account to my Fidelity account to reimburse. It seems the only way would be PayPal or Venmo?
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#212
Finally tried to sign my son up... Got "Something went wrong" and system error.

Good job Fidelity.

UPDATE: Tried again today and it worked.... uploaded SS card and school ID and waiting for approval now it seems.
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Last edited by TidalWaveOne April 11, 2022 at 09:15 PM.
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#213
$1 to trade? No thanks.
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#214
My kid is 11 years 6 months. Is it eligible?
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#215
Quote from StevenL9483 :
You should consider something besides a savings account . With inflation approaching double digits, the interest rate you are getting is definitely not keeping up. ( Ally offers free managed portfolios , that could potentially return much better than a traditional savings account)
Especially if the money won't be needed. Just a thought.
Please, tell me more. Can you send me the link to do this? I don't want to Google it and end up doing the wrong thing. TIA
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#216
Quote from laidbackinNC :
I'm gonna do this for our 14-yo son. I thought about getting him an account back when they were offering $100 bonus accounts for anyone but it didn't have all the youth benefits.

I've had a Fidelity account for a long time, ever since getting their 2% rebate credit card. I like Fidelity a lot and if it weren't so much hassle, would move my Vanguard money over because I greatly prefer the Fidelity website and account reporting interface.
I prefer the Fidelity website, but wish they would allow us to use a yubikey like vanguard does. Text 2FA is better than nothing, but a key would be even better
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#217
Quote from connordog :
Your last point has me confused. I'm not clear what a financial aid scholarship is versus a merit scholarship. Our experience is financial aid means loan eligibility which also means it must be paid back. And in hindisght, I think you're correct so I stand corrected.
Not the op, but colleges give two types of aid: merit aid is given to entice well-qualified students come to the school and doesn't depend on your financial condition only on how well the child does / how much the college wants them. Need aid, which is the majority of financial aid, is based on income and assets of the child and parents.

In my case my expected family contribution from FAFSA was more than the total cost of attendance for my kid but they still ended up with a pretty nice merit scholarship.
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#218
What information is needed to make an account
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#219
Quote from NeedMoreFAR :
Has anyone found a good way for your teen to transfer money out of the account? I bought an I-bond for my daughter (since she is a minor funds came out of my treasury-linked account to do this) but she can't transfer money from her Fidelity account to my Fidelity account to reimburse. It seems the only way would be PayPal or Venmo?
Go to your normal bank account and add the youth fidelity account as an external checking account using the manual process of entering a routing number and account number.
Your normal bank will usually make 2 small ACH transactions into the youth account. In a couple of days, login to fidelity and look in transaction history to see the ACH deposits. Then go back to your normal bank account and validate the external account link. Now you can use ACH external transfer at your normal bank to move money to and from the youth account and your normal bank account.

Finding the youth account routing and account numbers is left as an exercise for the reader. With this hint: The account number you seek does not start with the letter Z.


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#220
Quote from NeedMoreFAR :
Has anyone found a good way for your teen to transfer money out of the account? I bought an I-bond for my daughter (since she is a minor funds came out of my treasury-linked account to do this) but she can't transfer money from her Fidelity account to my Fidelity account to reimburse. It seems the only way would be PayPal or Venmo?
Go to your normal bank account and add the youth fidelity account as an external checking account using the manual process of entering a routing number and account number.
Your normal bank will usually make 2 small ACH transactions into the youth account. In a couple of days, login to fidelity and look in transaction history to see the ACH deposits. Then go back to your normal bank account and validate the external account link. Now you can use ACH external transfer at your normal bank to move money to and from the youth account and your normal bank account.

Finding the youth account routing and account numbers is left as an exercise for the reader. With this hint: The account number you seek does not start with the letter Z.

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#221
Quote from billyloon :
529 plan
They mostly suck these days. Were nice with matches and such when first out. ROTH or e-ROTH might be better but anyone interested in either should investigate.
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#222
Quote from SpencerC88 :
Are there any good accounts out there for a 2 and 5 year old?
Beware of a 529. It's very limited to what the funds can be used for. Rath IRA is smarter in my opinion because you can withdraw your contributions tax free at any time for any reason. Catch is contributions must be "earned income" so while they are super young, your contributions can't be huge but as they get older you can start a business and get them on payroll
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#223
Sorry if this has been answered but I do not see anything:

My son signed up on Thursday and have yet to see an email from Fidelity on his end. I can see his account created as a sub account under my login - do we keep waiting? He is unable to login on his app.
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#224
Quote from IndigoMorning6118 :
Sorry if this has been answered but I do not see anything:

My son signed up on Thursday and have yet to see an email from Fidelity on his end. I can see his account created as a sub account under my login - do we keep waiting? He is unable to login on his app.
You can see the status here: https://digital.fidelity.com/ftgw...ype=update

There is a bit of backlog for them to review uploaded documents. I had a kid successfully create the account username, accept the agreements and get the $50 while the status still says at step 2 of 3.

For your new user to create a login, go to the sign in screen and select forgot password. It will ask for name, birthday and last 4 of SSN. You can do this on a PC using the website.

When we did it, you had to use the app to click accept on the user agreements.

If the adult needs an account, go through the special offers page to get $100 for depositing $50: https://www.fidelity.com/go/select-account Make your account before making the youth account. Make the youth account using the website while the adult is logged into fidelity. That way the linking works mostly automatically.
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#225
Quote from FaithfulFog209 :
You can see the status here: https://digital.fidelity.com/ftgw...ype=update

There is a bit of backlog for them to review uploaded documents. I had a kid successfully create the account username, accept the agreements and get the $50 while the status still says at step 2 of 3.

For your new user to create a login, go to the sign in screen and select forgot password. It will ask for name, birthday and last 4 of SSN. You can do this on a PC using the website.

When we did it, you had to use the app to click accept on the user agreements.

If the adult needs an account, go through the special offers page to get $100 for depositing $50: https://www.fidelity.com/go/select-account Make your account before making the youth account. Make the youth account using the website while the adult is logged into fidelity. That way the linking works mostly automatically.
Awesome

Thanks for the detailed response.

Is the $100 for $50 deposit for new adult accounts only?
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