Fidelity Bloom App: Open New Bloom Spend and Save Accounts, Deposit $50 and Earn
Expired
$100 Cash Reward
(New Bloom Customers only)
+313Deal 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.
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.
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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.
Sign up for a Slickdeals account to remove this ad.
So what happens when you close out this bloom account in the future? Do they charge a fee like with other accounts? I think I have 5 accounts with Fidelity already, Im curious how much they will end up taking once Ive used the money in all my accounts
I have an existing Fidelity Cash Management account with checkwriting.
Looking at the FAQs
Would a Mobile Check Deposit (non-Fidelity Investments check) on the Transact tab of the Fidelity Bloom app fulfill the "outside financial institution" requirement for the initial cash back offer, or do you have to link an external non-Fidelity financial account and make a deposit?
Is this deal over? I think I see is the 10% match for 300 and that link doesn't work anymore. There's definitely no $100 promo for $30 deposit nor a five dollar sign up bonus.
I saw the $5 signup bonus and the 10% match for $300, but I didn't see the $100 promo either. I guess I will find out when my deposit goes through on Monday.
I used to feel that way but now I look at it like "It's 'free dinner and a movie date' for 10 minutes worth of work on a Saturday while I watch my dogs play in my yard." Sure it may be like 2/10ths of 1% of my net worth (or something) but that doesn't' change the fact that it's free money and I wasn't doing anything else with those 10 minutes.
I have an existing Fidelity Cash Management account with checkwriting.
Looking at the FAQs
Would a Mobile Check Deposit (non-Fidelity Investments check) on the Transact tab of the Fidelity Bloom app fulfill the "outside financial institution" requirement for the initial cash back offer, or do you have to link an external non-Fidelity financial account and make a deposit?
The way most ACH clearinghouse systems work, a mobile check deposit will work because it rides the same rails as an ACH transfer processed through an aggregator like Plaid.
$100 reward for new customers
We'll add $100 after you deposit $50 or more.5 It's our way of celebrating the start of your journey to better habits.
and scrolling down a bit I see this ...
Built in cash rewards
Rewards are deposited directly to your Fidelity Bloom® Save account.
Get a 10% annual savings match7 from Fidelity® on up to $300 of deposits to your Save account.
Get a 10-cent reward for every purchase with your Fidelity Bloom® debit card.
Take advantage of cash-back shopping from more than 1,000 participating retailers when you shop in the app.
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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
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.firstrepubl
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.
I attached a picture of where you see the $5 bonus.
Sign up for a Slickdeals account to remove this ad.
Will they then automatically add 100$?
Sign up for a Slickdeals account to remove this ad.
Looking at the FAQs
Would a Mobile Check Deposit (non-Fidelity Investments check) on the Transact tab of the Fidelity Bloom app fulfill the "outside financial institution" requirement for the initial cash back offer, or do you have to link an external non-Fidelity financial account and make a deposit?
Looking at the FAQs
Would a Mobile Check Deposit (non-Fidelity Investments check) on the Transact tab of the Fidelity Bloom app fulfill the "outside financial institution" requirement for the initial cash back offer, or do you have to link an external non-Fidelity financial account and make a deposit?
Attachment 14088197
Sign up for a Slickdeals account to remove this ad.
$100 reward for new customers
We'll add $100 after you deposit $50 or more.5 It's our way of celebrating the start of your journey to better habits.
and scrolling down a bit I see this ...
Built in cash rewards
Rewards are deposited directly to your Fidelity Bloom® Save account.
Get a 10% annual savings match7 from Fidelity® on up to $300 of deposits to your Save account.
Get a 10-cent reward for every purchase with your Fidelity Bloom® debit card.
Take advantage of cash-back shopping from more than 1,000 participating retailers when you shop in the app.