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I just realized that my fidelity core position is fcash which is described as a free credit balance and shows a current interest rate of 1.19% as of august 1st We would like to show you a description here but the site won’t allow us. It gives options to change to two different money market accounts spaxx (shows a 7 day yield of 1.42%) or fzfxx (shows a 7 day yield of 1.49%).
I plan to transfer money from bank account to fidelity and plan to invest that money asap and don’t plan to keep free cash in fidelity Learn about your fidelity brokerage account.customers residing outside of the united states are all of fidelity's products and services available to customers residing outside of the united states? The money market fund spaxx is a core position, meaning you don't have to sell it to use the funds to purchase securities
It's treated same as cash for that purpose
The only difference is spaxx is invested in very short term treasuries and repurchase agreements, so its basically good as cash, but there is an incredibly small chance that it could lose some money Fcash is not invested at all. The taxable interest bearing cash option (fcash) is a free credit balance, whereas the fidelity government money market fund (spaxx) is a taxable money market mutual fund Finally, you can determine your current core position on fidelity.com by clicking accounts & trade and selecting positions in the dropdown.
You can check out a list of available core positions and details about each one in the link below Available core positions next, let's discuss state tax efficiency. Government agency and treasury debt, and related repurchase agreements Intended for investors seeking as high a level of current income as is consistent with the preservation of capital and liquidity.1,2
In principle, the first is a money market mutual fund and the second is a type of savings account
When both earn 0% per year, it doesn't matter which you choose Honestly, i think fidelity should stop offering one of these This decision just causes confusion and there is no effective difference. Fcash versus spaxx versus fzfxx
I am interested in comparing the features of these 3 core positions because i am considering a switch from fcash to spaxx In particular i am looking for confirmation that spaxx will operate exactly the same as fcash. Our goal is to help redditors get answers to questions about fidelity products and services, money movement, transfers, trading and more. Now, the two money markets you've mentioned, fidelity government money market fund (spaxx) and fidelity treasury fund (fzfxx), are eligible core positions in nonretirement brokerage accounts (except for cash management accounts), in addition to fidelity cash (fcash).
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The editorial team of investortrip publishes articles on various topics related to investments and trading platforms. Professionalsea6988 spaxx vs cash management What is the difference between the two Can't i just keep money in spaxx, which has a higher yeild
I can get debit cards and checks through spaxx Why get the cash management account?
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