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Fidelity® Youth Account: Earn $50 reward once account is activated
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:
Disclosures:
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.
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
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 [fidelity.com]
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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.
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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 [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.
Created 01-26-2022
at 05:15 AM
by Discombobulated | Staff
in
Finance
(5)
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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.
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.
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."
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!
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.
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UPDATE: Got the $50 on April 20.... now what should he invest this windfall in?
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UPDATE: Got the $50 on April 20.... now what should he invest this windfall in?
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