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Fidelity Youth™ Account: Earn $50 reward once account is activated Expired
Update: This deal is still available.
Open a Fidelity Youth™ Account for your teen, and $50¹ will be deposited into their account. No account fees or minimums.
Account Benefits:
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 accent agreement and ensure that you fully understand your responsibilities to monitor and supervise your teen's activity in the account.
²The Fidelity Youth™ app is free to download. Fees associated with your account positions or transacting in your account apply.
³ Zero account minimums and zero account fees apply to retail brokerage accounts only. Expenses charged by investments (e.g., funds, managed accounts, and certain HSAs) and commissions, interest charges, or other expenses for transactions may still apply. See Fidelity.com/commissions for further details.
⁴Your 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. The Fidelity® Debit Card is issued by PNC Bank, N.A, and the debit card program is administered by BNY Mellon Investment Servicing Trust Company. These entities are not affiliated with each other, and Fidelity is not affiliated with PNC Bank or BNY Mellon. Visa is a registered trademark of Visa International Service Association, and is used by PNC Bank pursuant to a license from Visa U.S.A. Inc.
⁵Fractional shares 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)
Fidelity Brokerage Services LLC, Member NYSE, SIPC 900 Salem Street, Smithfield, RI 02917
Open a Fidelity Youth™ Account for your teen, and $50¹ will be deposited into their account. No account fees or minimums.
Account Benefits:
- Open a Fidelity Youth™ Account once they download the Fidelity Youth app and activate their Youth Account.
- The app is free²—plus, no monthly fees or account minimums to open.³
- Teens get their own debit card with no domestic ATM fees.⁴
- Interactive lessons, video, articles, tools, and calculators help jumpstart your teen's financial education. Teens get reward dollars for every level they complete.
- Learning to invest is easy. Teens can invest in stocks, mutual funds, and ETFs with as little as $1.⁵
- Parents can keep an eye on their teen's spending, set up alerts, and maintain visibility into account and trading activity.
- Teens are empowered to make, manage, and invest their own money so they feel more prepared for their financial future.
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 accent agreement and ensure that you fully understand your responsibilities to monitor and supervise your teen's activity in the account.
²The Fidelity Youth™ app is free to download. Fees associated with your account positions or transacting in your account apply.
³ Zero account minimums and zero account fees apply to retail brokerage accounts only. Expenses charged by investments (e.g., funds, managed accounts, and certain HSAs) and commissions, interest charges, or other expenses for transactions may still apply. See Fidelity.com/commissions for further details.
⁴Your 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. The Fidelity® Debit Card is issued by PNC Bank, N.A, and the debit card program is administered by BNY Mellon Investment Servicing Trust Company. These entities are not affiliated with each other, and Fidelity is not affiliated with PNC Bank or BNY Mellon. Visa is a registered trademark of Visa International Service Association, and is used by PNC Bank pursuant to a license from Visa U.S.A. Inc.
⁵Fractional shares 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)
Fidelity Brokerage Services LLC, Member NYSE, SIPC 900 Salem Street, Smithfield, RI 02917
Original Post
Written by
Edited December 15, 2023
at 11:34 AM
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
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.
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
- Fidelity Offer: Parent/Guardian: Open a New Fidelity Youth Account for Your Teen Aged 13-17 & Receive Free $50 Reward Offer
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Quote
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Introducing the Fidelity Youth Account. Accessible through the Fidelity Mobile App, the experience is customized for teens 13 to 17 to help them learn to save, spend, and invest.
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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
- 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 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 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.
Created 01-26-2022
at 05:15 AM
by Discombobulated | Staff
in
Finance
(5)
Fidelity
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I don't have an account with them.
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I added my 3 yr old as an authorized user on my credit card. I'm over 800 so I shouldn't be negatively affecting my child's score
Which card allowed a 3yr old?
Asking as many have age restrictions
Please tell me you sell life insurance.
Shahhere
1- Any gift-tax implications if I deposit more money to his account (he asks me to deposit all his allowances etc. to his account)?
2- I believe I'm responsible to pay taxes on his profits if it exceeds a certain limit? Would it be an issue to track his transactions etc. when calculating the taxes if he keeps making multiple trades every day?
1- Any gift-tax implications if I deposit more money to his account (he asks me to deposit all his allowances etc. to his account)?
2- I believe I'm responsible to pay taxes on his profits if it exceeds a certain limit? Would it be an issue to track his transactions etc. when calculating the taxes if he keeps making multiple trades every day?
1) IRS gift tax exclusion limit is $17k for 2023.. think you'll be okay.
2) this is what their FAQ says about that:
Who is responsible for taxes or fees associated with the Youth Account, my teen or me?
The funds in the account belong to your teen. Both you (parent/guardian) and your teen should consider the tax consequences of funding the account. Earnings on the account may require your teen to file a tax return and pay taxes on those earnings, or, if you and your teen meet certain requirements, you may elect to include such earnings on your (parent's/guardian's) tax return to pay the applicable taxes. Additionally, funds used to open the account may be subject to gift taxes if given by you (parent/guardian) or other third party. This is only a summary of some of the tax implications of opening a Youth Account. You should consult your tax advisor regarding the federal, state, and local tax consequences and/or potential impact to future student aid by opening an account with respect to your and your teen's personal situation.
Also, if your child trades often, they might want to look into and learn about possible trading violations: https://www.fidelity.co
Did you guys have to add your own funds first to get the $50?
I called twice already. Unlocked last time I called (they got the SSN/etc. pictures but hadn't checked a box yet) and they then said ten more business days. That was three weeks ago.
Will call again next week.
I've called three times so far
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Two kids in-state in my state for four years, tuition plus housing plus food, is easily $250k when you're done. A kid that is a kindergartener now will be twelve years away from starting college. At even 5% a year cost increase over 12 years, two kids may be $500k.
529 plans are an easy way to go. If a kid doesn't go to college, that money can be moved to a relative, or any descendant. Key to any solution is to realize how much it will cost (if you decide to fund it), and start saving/investing when they are born. Bonus if you are in a state that offers a tax deduction up to some amount for contributing to a plan sponsored by your state.
As an aside, claiming an insurance company "savings" product is better because something else might trap your money is hilarious. No one buys these products, they are sold these products.
I'm still trying to figure out how to turn off overdraft for debit card and allow one way transfers only to a savings acct but not from savings account.
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