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Fidelity Bloom App: Open New Bloom Spend and Save Accounts, Deposit $50 and Earn Expired

$100 Cash Reward
(New Bloom Customers only)
+313 Deal Score
203,389 Views
Fidelity is offering New Bloom Customers: $100 Cash Reward when you Open 2 Fidelity Brokerage Accounts (Fidelity Bloom Spend and Fidelity Bloom Save) via the Fidelity Bloom App and Deposit $50 or more within 7 calendar days of opening the account (see the instructions below).

Thanks to community member hashir for sharing this deal.

Deal Instructions:
  1. Download the Fidelity Bloom App (iOS or Android)
  2. Open the App and click on "Learn More"
  3. 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
  4. 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 (non-Bloom) customer
  5. They may then offer the following: $5 Bonus for signing up.
  6. You must deposit at least $50 within 7 calendar days to earn the $100 cash award
  7. The $100 cash award will be deposited directly into the Fidelity Bloom Save account within 10 days after the qualification period

Original Post

Written by
Edited August 19, 2023 at 08:14 AM by
Open a Bloom account and deposit $50 to get a $100 bonus. This is open to new Fidelity customers and existing Fidelity customers that don't have a Bloom account.

the Net Deposit at the end of the 7 calendar days after your initial funding date ("the Qualification Period") must be at least $50.

The cash award will be deposited directly to the Fidelity Bloom Save account within 10 calendar days after the qualification period.

https://www.fidelity.com/mobile/bloom
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Deal
Score
+313
203,389 Views
$100 Cash Reward
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Looks fairly straightforward.
Technically opening 2 accounts. A debit & a brokerage account for them to invest your savings.
*edit: as pointed out below by SirMixPix, both accounts are technically brokerage accounts which changes the protections/guarantees a bit.

Anyone seeing fees? I'm not.

looks like even better than OP claimed:

+$5 just for signing up (YMMV, this happened during sign up process for me. it is already showing up in the app under Activity for me)
+$100 if you fund $50 per promo
+$30 (10% match bonus on up to $300 deposit to SAVE account)

so if you park $300 in this for a while you'll get $135 in bonuses (I wasn't sure re timing and didn't dig into the details, others have made educated guesses in comments below)
Updates:
Sounds like they check settled funds at the end of the month and you get the bonus early in the next month.
the 10% is an intro bonus rate, looks like 5% for future years.

edit 2:
185TU and not frontpage?
is it the lack of kickback money for SD since it's via app signups and not a direct affiliate link or what?
wild the promoted garbage that gets pumped to the frontpage with very little engagement while this doesn't. apparently the Lisen phone holder & ESR plastic phone cases are more noteworthy lol

edit 3:
I got my full bonus
8/18 signed up. immediately got $5 bonus
8/21 ACH transfer posted ($300)
8/30 $100 bonus posted
9/01 $30 match bonus posted
Keep in mind, both the accounts are brokerage funds and, while uncommon for low risk mutual funds of these types to lose money, they have and can (in rare instances). They are not fdic protected and do carry more risk, albeit slight, than a 'standard' back account covered under FDIC insurance.
These brokerage accounts are instead SIPC covered, which while similar to FDIC insurance, there are some significant differences.
A good article explaining what is covered and what isn't here: https://www.firstrepublic.com/ins...ifferences
Interesting Quote from above article:
"It's worth noting that SIPC insurance does not cover the value of your stocks, bonds or other investments. Rather, the SIPC replaces your missing stocks and other securities when possible."
I am Not knocking this deal or the opening of accounts to get the deal. Just some fyi that I found while exploring the fine print that I found interesting.
Got the $5. Currently a Fidelity credit card + brokerage customer as well.

I attached a picture of where you see the $5 bonus.

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Joined Nov 2007
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> bubble2 1,722 Posts
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xsupan0va
08-18-2023 at 09:18 PM.
08-18-2023 at 09:18 PM.
Quote from Robial :
From their FAQ " if your Save balance includes $300 in eligible deposits on July 31, you'll receive the maximum reward payout for that calendar year in early August."

I understand this as you really only need to park $300 for abit over a month every year for the $30

For the $100 it says within 10 days after qualification period and the qualification period is 7 days so within 7- 17 days from sign up according to T&C.

So you need to keep 300 balance for 1 year to get a 30$ bonus? Or is it multiple?
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Sirmixpix
08-18-2023 at 09:19 PM.

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08-18-2023 at 09:19 PM.
Keep in mind, both the accounts are brokerage funds and, while uncommon for low risk mutual funds of these types to lose money, they have and can (in rare instances). They are not fdic protected and do carry more risk, albeit slight, than a 'standard' back account covered under FDIC insurance.
These brokerage accounts are instead SIPC covered, which while similar to FDIC insurance, there are some significant differences.
A good article explaining what is covered and what isn't here: https://www.firstrepublic.com/ins...ifferences
Interesting Quote from above article:
"It's worth noting that SIPC insurance does not cover the value of your stocks, bonds or other investments. Rather, the SIPC replaces your missing stocks and other securities when possible."
I am Not knocking this deal or the opening of accounts to get the deal. Just some fyi that I found while exploring the fine print that I found interesting.
6
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Joined Nov 2010
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sweetdreams
08-18-2023 at 09:36 PM.
08-18-2023 at 09:36 PM.
Quote from supersix :
does the debit account accrue interest?
yes it actually all invested in spaxx so it's not fdic insured but sipc insured

money markets are around 4.8-5% rates so fairly comparable to other savings
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Joined Jan 2010
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isitlive
08-18-2023 at 10:02 PM.
08-18-2023 at 10:02 PM.
Quote from tendercrisp :
I'm an existing Fidelity customer. I saw the $5 message when signing up.

Deposited $600 through the app, but didn't see any confirmation for the $100 for funding $50 or the 10% match bonus on up to $300 either in the app or an email.

Did anyone get confirmations for these bonuses?
Did you have to create new user name and password or used the Fidelity login?
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Fanime
08-18-2023 at 10:10 PM.
08-18-2023 at 10:10 PM.
Quote from isitlive :
Did you have to create new user name and password or used the Fidelity login?
I used my regular fidelity user login.
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Fanime
08-18-2023 at 10:12 PM.

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08-18-2023 at 10:12 PM.
Quote from tendercrisp :
I'm an existing Fidelity customer. I saw the $5 message when signing up.

Deposited $600 through the app, but didn't see any confirmation for the $100 for funding $50 or the 10% match bonus on up to $300 either in the app or an email.

Did anyone get confirmations for these bonuses?
Signed up 2 days ago. Got this email from them today.

The rewarding way to spend and save
Your Fidelity Bloom® Spend and Save accounts are officially open, which means you're on your way to smarter saving.

So, what's next? Simple. Be on the lookout for your new debit card that's linked to your Fidelity Bloom® Spend account—it should arrive in the next 7 to 10 days. And in the meantime, don't forget to deposit $50 or more into either your Spend or Save accounts to get $100 from us for a limited time.

Ready to start earning more rewards? If so, here's how it works:
 Get a 10% match2 on your first $300 of deposits into your Save account. The only app with a 10% match.
 Receive 10 cents on every purchase made with your Fidelity Bloom debit card.3
 Have your Fidelity Bloom debit card purchases rounded up—with the change going directly into your Save account.
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Joined Nov 2005
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szone
08-18-2023 at 10:18 PM.
08-18-2023 at 10:18 PM.
Does bonus get reported to IRS?
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sarcasmogratis
08-18-2023 at 10:21 PM.
08-18-2023 at 10:21 PM.
Quote from muthukumaran.1234 :
Hi @sarcasmogratis I don't see the $5 for signing up mentioned in the landing page..is there a separate promo or have they removed it now?

I don't know any trick to it-
It just showed up as an unadvertised bonus when I went through account creation on the app.

"Earn a $5 cash reward for completing your accounts setup" was a small popup during Step 2 choose username and password phase of signing up.

YMMV?
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Fanime
08-18-2023 at 10:22 PM.
08-18-2023 at 10:22 PM.
Quote from szone :
Does bonus get reported to IRS?
Fidelity generally doesn't report bonus amounts under $600. I received a $175 fidelity bonus last year and they didn't issue a real 1099. Just a 1099 De Minimis (not reported to IRS).
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tomatoshoe
08-18-2023 at 10:44 PM.

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08-18-2023 at 10:44 PM.
Got the $5. Currently a Fidelity credit card + brokerage customer as well.

I attached a picture of where you see the $5 bonus.
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puncturepremium
08-18-2023 at 11:42 PM.
08-18-2023 at 11:42 PM.
did this a few months ago. once you deposit 300, your bonuses come in waves. depending on how early or late in the month affects how long bonuses pop up.

worst case 45 days? probably closer to 20 days.

edit for specifics:
6-30 deposit 300
7-3 30 bux
7-14 50 bux
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Last edited by puncturepremium August 19, 2023 at 03:15 AM.
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tsuperwanker
08-19-2023 at 03:04 AM.
08-19-2023 at 03:04 AM.
Quote from puncturepremium :
did this a few months ago. once you deposit 300, your bonuses come in waves. depending on how early or late in the month affects how long bonuses pop up.

worst case 45 days? probably closer to 20 days.
Also did this a month ago, and my last bonus came 30 days after opening the accounts. Just another data point. The Fidelity Bloom app is pretty solid and easy to use.
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johnt50
08-19-2023 at 05:14 AM.
08-19-2023 at 05:14 AM.
Quote from puncturepremium :
did this a few months ago. once you deposit 300, your bonuses come in waves. depending on how early or late in the month affects how long bonuses pop up.

worst case 45 days? probably closer to 20 days.

edit for specifics:
6-30 deposit 300
7-3 30 bux
7-14 50 bux

Did you open the Bloom account using an existing Fidelity login? And, through the app? I am trying to open Bloom account using the existing Fidelity account using the Bloom app and I don't see $100 bonus. Only the 10% match up to $300 deposit
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BootyAndTheHoeFish
08-19-2023 at 05:32 AM.
08-19-2023 at 05:32 AM.
Signed up for this when the bonus was $86 back in the spring (50+30+5+1) and got all of the bonuses deposited in my account within a week. Withdrew the money the next week and had no issues. Did it for both me and my wife to double the amount.

Wish I could do it again. Lol
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