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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
203,303 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
203,303 Views
$100 Cash Reward
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.

551 Comments

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Featured Comments

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 Mar 2005
Renaissance Man
> bubble2 6,204 Posts
1,934 Reputation
PedroR
08-24-2023 at 05:37 AM.
08-24-2023 at 05:37 AM.
Quote from PeakSummit :
After you made your deposit, and you are happy.
well done
1
Reply
Joined Sep 2008
L10: Grand Master
> bubble2 7,483 Posts
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DogAndPony
08-24-2023 at 06:51 AM.
08-24-2023 at 06:51 AM.
So 10% match ($30) plus current yield of 4.97%. Not bad! Wish they would match more. I'll keep loading up on t-bills to squeeze out slightly higher returns.
Reply
Joined Jul 2017
L6: Expert
> bubble2 1,412 Posts
164 Reputation
slicksdeal
08-24-2023 at 07:37 AM.
08-24-2023 at 07:37 AM.
I haven't been able to find info on auto over drafting. If your Spend account has a $0 balance will debit purchases automatically pull from the Save account?
Reply
Joined Jan 2010
L6: Expert
> bubble2 1,362 Posts
444 Reputation
Gysper
08-24-2023 at 08:40 AM.
08-24-2023 at 08:40 AM.
Quote from Freesub1 :
It says 10% annual match… someone please explain Smilie.
Quote from TFSJake :
The match is already clearly explained by Fidelity.
Well for someone who says that and isn't helpful, shouldn't make simple remarks.

But the simple explanation is that Fidelity will match 10% meaning if you deposit $300, you'll get an additional $30 dollars. This is a separate interest from the 4.97% APY you get from just leaving your money in.

The annual means it's only paid out to the max once per year. So to get the maximum $30 bonus as quickly as possible, you put in $300 and you'll get it in one payment.

Or you get put in $50 and let the annual match be paid out longer. It will take 6 payments (6 months) to get it instead.

TLDR: Put in at least $50 to get the $100 bonus. Or put in $300 to get the $100 bonus and the 10% match quicker.
Reply
Last edited by Gysper August 24, 2023 at 08:43 AM.
Joined Aug 2014
L3: Novice
> bubble2 239 Posts
51 Reputation
raks82
08-24-2023 at 10:10 AM.
08-24-2023 at 10:10 AM.
Quote from Gysper :
Well for someone who says that and isn't helpful, shouldn't make simple remarks.

But the simple explanation is that Fidelity will match 10% meaning if you deposit $300, you'll get an additional $30 dollars. This is a separate interest from the 4.97% APY you get from just leaving your money in.

The annual means it's only paid out to the max once per year. So to get the maximum $30 bonus as quickly as possible, you put in $300 and you'll get it in one payment.

Or you get put in $50 and let the annual match be paid out longer. It will take 6 payments (6 months) to get it instead.

TLDR: Put in at least $50 to get the $100 bonus. Or put in $300 to get the $100 bonus and the 10% match quicker.
does this mean, one will be elisgible for another 30 bonus next year? i mean every year they will give 30 bonus?
Reply
Joined Jan 2010
L6: Expert
> bubble2 1,362 Posts
444 Reputation
Gysper
08-24-2023 at 10:31 AM.
08-24-2023 at 10:31 AM.
Quote from raks82 :
does this mean, one will be elisgible for another 30 bonus next year? i mean every year they will give 30 bonus?
Now I actually take it back, something you should read on their website.

https://www.fidelity.com/mobile/bloom-faqs

All of the questions under the Fidelity Bloom Rewards section should help you understand this better.
1
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Joined Aug 2014
L3: Novice
> bubble2 239 Posts
51 Reputation
raks82
08-24-2023 at 11:17 AM.
08-24-2023 at 11:17 AM.
Quote from Gysper :
Now I actually take it back, something you should read on their website.

https://www.fidelity.com/mobile/bloom-faqs

All of the questions under the Fidelity Bloom Rewards section should help you understand this better.
What is the savings match in Fidelity Bloom®?
Savings match is one of the ways we celebrate your progress and reward you for saving. You might be familiar with how many employers often match a percentage of your retirement contributions. Similarly, Fidelity Bloom®'s savings match is basically "free money" that rewards your good financial habits!
Fidelity Bloom offers an annual match of 10% on up to $300 (max of $30) in eligible deposits made to your Fidelity Bloom Save account. Match rewards are deposited to your Fidelity Bloom Save account. They are based on eligible deposits into your Fidelity Bloom Save account in a calendar year and reset annually. Eligible deposits into your Fidelity Bloom Save account include transfers from outside or other Fidelity accounts, cash-back shopping rewards, and Round Up deposits
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Joined Nov 2019
L3: Novice
> bubble2 115 Posts
149 Reputation
RaghavP511
08-24-2023 at 03:06 PM.
08-24-2023 at 03:06 PM.
Quote from Rudrash :
Does it qualify using PayPal or does it have to be an ACH payment through your bank account?
I believe PayPal should qualify. I can't confirm yet though, haven't got the bonus yet.
I used PayPal when I got the SUB for my original Fidelity account, so no reason to think this Bloom account should be any different. I'll follow up in a week or two if/when the bonus hits.
Reply
Joined Aug 2018
L6: Expert
> bubble2 1,047 Posts
70 Reputation
Kraken09
08-24-2023 at 05:02 PM.
08-24-2023 at 05:02 PM.
Did anyone have any luck getting this promo with an existing Fidelity account?

I can't even get the $5.00 promo to pop up and I am worried the $100 promo won't apply. I say this because I read a few earlier posts about existing customers not getting promo info or confirmation.
Reply
Joined Nov 2020
L2: Beginner
> bubble2 33 Posts
30 Reputation
Estrongarm
08-24-2023 at 08:17 PM.
08-24-2023 at 08:17 PM.
Quote from dambargar :
Used my existing fidelity account to login to app showed up $5 bonus for open account then nothing
Same. What ended up happening? Any update?
Reply
Joined Nov 2011
L5: Journeyman
> bubble2 651 Posts
270 Reputation
toky00
08-25-2023 at 01:41 AM.
08-25-2023 at 01:41 AM.
Works, non-issue here.
Reply
Joined Dec 2010
L3: Novice
> bubble2 148 Posts
55 Reputation
cedarhillguy
08-25-2023 at 06:20 AM.
08-25-2023 at 06:20 AM.
Quote from Estrongarm :
Same. What ended up happening? Any update?
Waiting as well, however the terms and conditions for the $100 state "for both new and existing customers, the Net Deposit at the end of the 7 calendar days after your initial funding date ("the qualification period") must be at least $50"

It states later in the terms, "cash award will be deposited directly to the Fidelity Bloom Save account within 10 calendar days after the qualification period".

Based on the above, looks like bonus will arrive around 17 days after opening the account and depositing the money.
Reply
Last edited by cedarhillguy August 25, 2023 at 06:24 AM.
Joined Sep 2005
Traveler
> bubble2 1,088 Posts
254 Reputation
merlinx
08-25-2023 at 07:18 AM.
08-25-2023 at 07:18 AM.
Anyone know if this will work a second time? I signed up for the account then realized I had done this last time. I closed the account and its been closed so these are new accounts. Not sure if its worth wasting my time to do it again.
Reply
Joined Nov 2014
L2: Beginner
> bubble2 28 Posts
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lujacky18
08-25-2023 at 12:47 PM.
08-25-2023 at 12:47 PM.
do i have to initiate by the 27th or does it need to land by the 27th?
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Joined Apr 2015
New User
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hegotlove
08-25-2023 at 06:28 PM.
08-25-2023 at 06:28 PM.
Quote :
Get a 10% match on your first $300 of deposits into your Save account. The only app with a 10% match.
Does my first deposit of $50 to the Spend account make me ineligible for this 10% match for the Save account?
Reply
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