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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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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.
Most families are okay with this but you just need to be aware.
No, it's not.
I've read: it's not a savings account (so why the debit card?)
It IS an investment account (again, why the card?)
I really like Fidelity, but they could have done a better job explaining what this is and isn't IMO.
Or maybe it's a hybrid thing, but I would like more details on where the funds are drawn from when using the debit card. What if the account is invested 100% in holdings? Does it auto-sell enough shares in something to cover the withdrawal?
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If I have more than one child and open an account for each child will they each get $50?
If I have more than one child and open an account for each child will they each get $50?
My 13 YO is loving this so far...he was so excited to tell me that he already earned 4 whole dollars, doing lessons in the app.
As for the second question, someone upthread mentioned that it's better if you open one for one of the kids, and have your spouse open the other one (can't remember why) to qualify for the $50 for both.
Personally, before I went to that trouble, I would just chat w/Fidelity and ask if you can't get $50 for both kids under your account name.
I've read: it's not a savings account (so why the debit card?)
It IS an investment account (again, why the card?)
I really like Fidelity, but they could have done a better job explaining what this is and isn't IMO.
Or maybe it's a hybrid thing, but I would like more details on where the funds are drawn from when using the debit card. What if the account is invested 100% in holdings? Does it auto-sell enough shares in something to cover the withdrawal?
Our 16yo son has had this for about 2.5 years. It's worked great for him. His youth account is visible to me in my Fidelity brokerage account so I can see what he's up to. He's got a job and is paid with a check every week that he deposits via the app. He uses his debit card to buy mostly fast food a few times a week with friends. Meanwhile, the money he's depositing is growing at 5%. He's also dabbled with buying a small amount of stock in Apple, Tesla, and a couple others which is helping learn about market swings. Currently he's in the green maybe by about $20.
So to answer your question, debit card transactions come out of the holding fund, which is FIDELITY GOVERNMENT MONEY MARKET (SPAXX). I'm not sure what would happen if you invest 100% in other funds and try to withdraw, but I wouldn't advise doing that with the kid's hard earned money when they can get 5% right now in the money market fund.
Who goes to college anymore
A greater percentage of Americans obtained degrees across degree types in 2021 when compared to 2011, according to the U.S. Census Bureau's educational attainment data. The number of people with a bachelor's degree or higher increased by 7.5 percentage points in this time frame. And the increase in graduate degree holders was even more dramatic, rising by about 50%. In all, close to 44.4% of people 25 and older now have some type of college degree.
Considering that's right in the middle/ tail end of COVID (2021), I assume those numbers are probably a bit higher now.
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Most families are okay with this but you just need to be aware.