Fidelity Bloom App: Open New Bloom Spend and Save Accounts, Deposit $50 and Earn
Expired
$100 Cash Reward
(New Bloom Customers only)
+313Deal Score
203,119 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.
Been giving this some thought.
'how does the company make $ by doing this.'
What we know is that now we have at least 2, most of us 3 separate fidelity accounts now.
One uh, debit visa card from them.
hmm what else. we gave them $50 to use for awhile.
Are they gonna spin this into some sort of sd effect super duper worthwhile 'Investment of the year' thing?
Write off all those $100 deposits as advertising and show the world how many $50 they made in a week?
Some fancy behind the scenes math goin on here.
It's Fidelity. They make ton of money. More clients + more funds = more potential money to be made. They can afford $135 in bonuses to attract new clients and keep existing ones.
8/27 is only if you already had a Bloom account prior to this new promo:
"existing Bloom clients who have not yet made any deposits into either of their Fidelity Bloom Spend or Fidelity Bloom Save accounts can participate in this offer by making a Qualifying Deposit by August 27"
Everyone should get the bonus as long as you didn't previously receive a Bloom bonus. It takes 7-10 days after the initial deposit clears. The 10% match portion is calculated monthly.
Thanks for the clarification, I thought my cousin was out of luck.
Anyone's app kept asking for 2FA code every time they open it? I even checked the box to remember me.
Dude, yes!
I found that if I enabled biometric sign in, it asks for 2FA every time. But if I turned that off, it doesn't ask anymore, but I'm stuck with entering the password manually each time I need to sign in.
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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.
Been giving this some thought.
'how does the company make $ by doing this.'
What we know is that now we have at least 2, most of us 3 separate fidelity accounts now.
One uh, debit visa card from them.
hmm what else. we gave them $50 to use for awhile.
Are they gonna spin this into some sort of sd effect super duper worthwhile 'Investment of the year' thing?
Write off all those $100 deposits as advertising and show the world how many $50 they made in a week?
Some fancy behind the scenes math goin on here.
Sign up for a Slickdeals account to remove this ad.
"existing Bloom clients who have not yet made any deposits into either of their Fidelity Bloom Spend or Fidelity Bloom Save accounts can participate in this offer by making a Qualifying Deposit by August 27"
Everyone should get the bonus as long as you didn't previously receive a Bloom bonus. It takes 7-10 days after the initial deposit clears. The 10% match portion is calculated monthly.
No any 2FA, I enabled biometric login (fingerprint), it never asked for 2FA yet...
Sign up for a Slickdeals account to remove this ad.
Dude, yes!
I found that if I enabled biometric sign in, it asks for 2FA every time. But if I turned that off, it doesn't ask anymore, but I'm stuck with entering the password manually each time I need to sign in.
I'll try what JSquare suggested and report back.
edit: I'm on Android btw