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Fidelity Bloom App: Open New Bloom Spend and Save Accounts, Deposit $25 and Earn Expired

$50 Cash Reward

+59 Deal Score

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Fidelity is offering a $50 Cash Reward when you Open 2 Fidelity Brokerage Accounts (Fidelity Bloom Spend and Fidelity Bloom Save) via the Fidelity Bloom App and Deposit $25 or more within 7 calendar days of opening the account (see the instructions below).

Thanks to community member rsvpd for sharing this deal.

Deal Instructions:

Download the Fidelity Bloom App (iOS or Android)
Open the App and click on "Learn More"
Click on "Sign up" and you will begin the process to open the accounts and get a debit card
- Spend Account is for everyday spending and is linked to your debit card
- Save Account is where you'll keep track of your savings
You will then click on "Open accounts" where you will be prompted to verify your identity and set up an account
- Note, you can log in with your Fidelity information if you are a current customer
They may then offer the following (make sure to claim if offered): "Earn $0.10 per purchase every time you use the Fidelity Bloom debit card, while you wait for your debit card we will jumpstart your Save balance by giving you $1".
You must deposit at least $25 within 7 calendar days to earn the $50 cash award
The $50 cash award will be deposited directly into the Fidelity Bloom Save account within 10 days after the qualification period

Attachments

Fidelity Bloom Financial App Save Spend Bloom Fidelity.pdf 1.64 MB View

Fidelity Bloom℠ FAQs Fidelity.pdf 274.3 KB View

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Original Post

Written by Edited April 13, 2023 at 10:09 AM by

Links in .pdfs of T&C and FAQ's are clickable. Quick Links to Fidelity Investments Accounts - Login on Browser [fidelity.com] | Fidelity Mobile: iOS [apple.com] | GP [google.com] (Bloom accounts appear w/ your other Fidelity accounts)

Fidelity [fidelity.com] is offering a $50 Cash Sign-Up Bonus for new or existing Fidelity Brokerage Services LLC ("Fidelity") customers who open a new Fidelity Bloom Spend & Bloom Save account in the Fidelity Bloom app & fund with a min. of $25 within 7 calendar days of account sign-up. Offer is limited to one cash award per individual.

After account is set up, you MAY see 2 other "Reward Offers" to Earn an additional $6 Cash Reward. Tap the Claim my reward button. Below are the title of the screens & Name of Rewards in Spend account after they post (scroll to bottom of OP for screenshots):

$5 for Save and spend? What a combo! | Rewards (Cash-back shopping)
$1 for Get ready to swipe and save | Rewards (Cents per swipe)

Instructions:

Download Fidelity Bloom app (iOS [apple.com] | GP [google.com])
In the Bloom app, open a Bloom Spend & Bloom Save brokerage account:
- If you have an existing Fidelity account, you can Sign Up using the same login credentials (e.g. if you have FiDO CC [fidelityrewards.com], use the login for Fidelity Brokerage - Not the login for CC)
Deposit a total of at least $25 in either account from an outside financial institution within 7 calendar days of opening your Bloom accounts.
- Fund your Bloom accounts from your bank account with an electronic funds transfer (EFT) or through a third-party payment app such as Venmo or PayPal.
Within 10 calendar days after the $25 min deposit, Fidelity deposits $50 into your Bloom Save account.
You do not need to keep your cash reward for the $50 offer in Bloom or in a Fidelity account. Once the reward is deposited, it is yours to save, spend, or invest however and wherever you wish.
You'll receive a debit card that automatically deposits your earnings and rewards into Bloom Save account. The Bloom debit card is issued by Leader Bank & the debit card program is administered by BNY Mellon Investment Servicing Trust Company.

Other Features:

Earn a 10-cent Reward Every Time You use Your Bloom Debit Card

Limit of 15 purchases per day
Reward is automatically deposited into your Bloom Save account.

Annual Match on up to $300 in Eligible Deposits; Earnings Deposited Monthly -- For a Limited Time: Match Rate is 10% (Max payout of $30):

You don't have to deposit all $300 at once; you can make multiple deposits to get the full match in Fidelity Bloom. The time frame to earn toward this reward in is from the day you open your accounts until the end of that same calendar year.
Match rewards are deposited to your Bloom Save account & based on eligible deposits into your Bloom Save account in a calendar year and resets annually.
Eligible deposits include: Transfers from outside or other Fidelity accounts, cash-back shopping rewards, and Round Up deposits.
Match earnings are distributed monthly until you reach the maximum payout; this is calculated on the qualifying deposits from the previous month. Eligible deposits need to be settled in their account in order to be calculated as part of your savings match reward which can take up to 5 business days, depending on deposit method.
Examples - If the Save account balance on July 31 includes:
- $300 in eligible deposits, you'll receive the max payout of $30 in early August
- $100 in eligible deposits, you'll receive a payout of $10

Screenshots of 2 Bonus Offers (Earn Additional $6 Cash Reward):

Rewards Details	Rewards Posted
Attachment 13355084	Attachment 13355087

Notes:
Fidelity Bloom accounts are brokerage accounts covered by SIPC insurance. Holdings in your Fidelity Bloom accounts are subject to market risk and risk of loss. Brokerage accounts are not bank accounts & are not covered by FDIC insurance.

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$50 Cash Reward

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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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Featured Comments

I hate the idea of having banking apps on my phone, since I'm always afraid I'll somehow lose it (though I can't recall ever having lost one)... I went ahead and downloaded the app, and since I had previously created a Fidelity account (from a "open X account, deposit $50 and we'll give you $100 offer), I logged in with that. I created the Bloom Save / Spend accounts, but did not see any offers.

Turned out I had to "drag down" on the main page (click on the "House" icon), and eventually the "Save $300, earn $30" offer came up, so I went through that. I couldn't get a banner for the "Save $25, we'll give you $50 offer), so hopefully that'll be automatic once the $300 hits the account.

Just thought I'd post my experience, in case it helped anyone. Smilie

15 transactions a day for $1.50? Is this worth your time? Possibly if there is a way to set up auto pays / schedule.

Thank you.. Setup was breeze in the app and opened up for myself/spouse.

NervousName3076

Joined Jan 2019

L3: Novice

276 Posts

35 Reputation

NervousName3076

04-13-2023 at 03:15 PM.

Quote from happy108

requires a credit check?

Same question. Please advise

Sysop

Joined Jan 2007

L6: Expert

1,813 Posts

275 Reputation

Sysop

04-13-2023 at 03:38 PM.

Quote from GetMoneyMoe

Hmm...any users care to input. Intrigued as to why this is useful over a regular bank account or a credit card earning points back with every purchase. 🤔

My IRA is with Fidelity, so if I set up a monthly transfer of $500, I can do my max IRA contribution with that after 12 months and it doesn't feel like I'm gouging my bank account when I do it.

drinkingbird

Joined Mar 2005

L8: Grand Teacher

3,102 Posts

651 Reputation

drinkingbird

04-13-2023 at 03:53 PM.

Quote from iflyer

FYI, I thought maybe these were a savings and checking account but both are brokerage accounts:
"Fidelity Bloom accounts are brokerage accounts covered by SIPC insurance. They are not bank accounts and therefore are not covered by FDIC insurance. Holdings in your Fidelity Bloom accounts are subject to market risk and risk of loss."

Correct, Fidelity is not a bank, they are a brokerage. However they often partner with banks for sweep funds so that they can be insured. I see mention of BNY on this one not sure if that is just for the debit card or if you have the option of sweeping to them for FDIC coverage.

Same for all brokerages that do these cash/spend type accounts.

Sysop

Joined Jan 2007

L6: Expert

1,813 Posts

275 Reputation

Sysop

04-13-2023 at 03:57 PM.

Quote from happy108

requires a credit check?

There is no credit involved. This is for a debit card and a savings account.

Sysop

Joined Jan 2007

L6: Expert

1,813 Posts

275 Reputation

Sysop

04-13-2023 at 03:59 PM.

Quote from drinkingbird

My individual core account with Fidelity is FDIC-insured like you mention.

-ysmaydeki-

Joined Aug 2016

L4: Apprentice

374 Posts

-ysmaydeki-

04-13-2023 at 04:28 PM.

It says it could take 6 business days for an ETF. That's longer than the 7 calendar days. Am I missing something?

barcode

Joined Apr 2007

L7: Teacher

2,722 Posts

1,105 Reputation

barcode

04-13-2023 at 06:01 PM.

Will you still qualify for this if you did the $150 offer back in November 2022?

E4300

Joined Sep 2011

2,687 Posts

1,020 Reputation

Pro

E4300

04-13-2023 at 06:13 PM.

Quote from iflyer

There is ZERO risk if you don't use the idle cash to buy stock, bond, or mutual fund.

E4300

Joined Sep 2011

2,687 Posts

1,020 Reputation

Pro

E4300

04-13-2023 at 06:14 PM.

Quote from barcode

Will you still qualify for this if you did the $150 offer back in November 2022?

If the previous offer was also Bloom, then you should qualify since this is a new $50 promo.

OutlawCecil

Joined Feb 2018

L3: Novice

299 Posts

77 Reputation

OutlawCecil

04-13-2023 at 08:19 PM.

Quote from E4300

If the previous offer was also Bloom, then you should qualify since this is a new $50 promo.

it's seeing my old 401k from decades back and won't let me continue signing up for bloom for some reason.

CalmHeart2

Joined Jun 2022

L3: Novice

188 Posts

10 Reputation

CalmHeart2

04-13-2023 at 11:22 PM.

Quote from OutlawCecil

it's seeing my old 401k from decades back and won't let me continue signing up for bloom for some reason.

same. whats next?

drinkingbird

Joined Mar 2005

L8: Grand Teacher

3,102 Posts

651 Reputation

drinkingbird

04-14-2023 at 01:31 AM.

Quote from E4300

There is ZERO risk if you don't use the idle cash to buy stock, bond, or mutual fund.

The idle cash is automatically used to buy a money market mutual fund. Low risk, but not 0 (near 0 though). They cannot hold cash as they are not a bank.

SIPC is private insurance and if Fidelity somehow lost their entire assets of over $4.5 Trillion SIPC would declare bankruptcy. Of course that is unlikely to happen, but again, not 0

drinkingbird

Joined Mar 2005

L8: Grand Teacher

3,102 Posts

651 Reputation

drinkingbird

04-14-2023 at 01:36 AM.

Quote from Sysop

My individual core account with Fidelity is FDIC-insured like you mention.

Yeah the bank sweep program is opt-in (and I believe requires you to have their cash management account). However the interest rates are pretty poor even compared to money market, though they do spread it across multiple banks to increase your FDIC coverage.

However doesn't look like bloom allows bank sweep, so your core will be a money market fund.

drinkingbird

Joined Mar 2005

L8: Grand Teacher

3,102 Posts

651 Reputation

drinkingbird

04-14-2023 at 01:42 AM.

Quote from Sysop

There is no credit involved. This is for a debit card and a savings account.

That doesn't matter. Most non-credit accounts are a soft pull for identity verification. If there is any sort of overdraft feature (which is credit) then it can be a hard pull. But there is no guarantee that a savings account won't do a hard pull.