Fidelity’s Cash Management Account offers unlimited worldwide ATM fee reimbursement — matching Charles Schwab as the top ATM accounts available. The main difference: Fidelity publishes a $500–$2,500 daily ATM limit, while Schwab’s is essentially the machine’s maximum.
Fidelity ATM Withdrawal Limits
| Account | Daily ATM Limit |
|---|---|
| Fidelity Cash Management Account (standard) | $500 |
| Fidelity CMA (increased) | Up to $2,500 |
| Fidelity brokerage debit | Up to $2,500 |
| Fidelity brokerage margin account | Higher (varies) |
Fidelity ATM Fee Reimbursement: How It Works
Like Schwab, Fidelity reimburses ATM fees automatically:
- Use any ATM anywhere in the world
- ATM charges a fee
- Fidelity reimburses it — no cap, no claim required
- Appears in your account within a few business days
Foreign transactions: No foreign transaction fees charged by Fidelity. The interbank exchange rate applies.
How to Increase Your Fidelity ATM Limit
Fidelity’s standard $500 ATM limit can be increased:
- Login to Fidelity.com → Cash Management Account → Manage debit card
- Request an increase online or by calling 1-800-343-3548
- Limits can be increased to $2,500 for accounts with established history
Fidelity Cash Management Account: Full Feature Overview
| Feature | Details |
|---|---|
| Monthly fee | $0 |
| Minimum balance | $0 |
| ATM fees | Reimbursed unlimited worldwide |
| Daily ATM limit | $500 (up to $2,500) |
| Foreign transaction fee | 0% |
| Zelle | Not supported |
| FDIC insured | Yes — through partner banks, up to $5 million |
| SIPC protection | Uninvested cash held in money market |
| APY | Competitive (swept to money market) |
Unique feature: Fidelity CMA cash is automatically swept into a money market fund that earns interest. Idle cash earns more than typical checking accounts.
FDIC Coverage: Fidelity’s Standout Advantage
Fidelity CMA uses a program bank network for FDIC coverage, providing up to $5 million in FDIC insurance — compared to the standard $250,000 at most banks including Schwab. This is a major advantage for high balances.
| Bank | FDIC Coverage |
|---|---|
| Fidelity CMA | Up to $5,000,000 |
| Charles Schwab | $250,000 |
| Chase | $250,000 |
| Ally | $250,000 |
Fidelity vs. Schwab: ATM Comparison
| Feature | Fidelity CMA | Schwab Investor Checking |
|---|---|---|
| ATM limit | $500–$2,500 | Machine maximum |
| ATM fee reimbursement | Unlimited worldwide | Unlimited worldwide |
| Foreign transaction fee | 0% | 0% |
| Requires brokerage | No (standalone) | Yes (Schwab One) |
| Zelle | ❌ No | ❌ No |
| FDIC coverage | Up to $5M | $250K |
| Interest on cash | Money market rate | Small |
Which to choose:
- High balance holders → Fidelity (5x FDIC coverage)
- Want no published ATM cap at all → Schwab (machine maximum)
- Using for travel abroad → Both are identical in cost
Fidelity ATM Access Strategy
For international travel:
- Fidelity cards work at any ATM globally
- All fees reimbursed, no foreign surcharge
- Carry the Fidelity debit card as backup or primary
For large cash withdrawals:
- Request ATM limit increase to $2,500 before your trip
- For anything above $2,500, plan a wire or ACH to a local bank where you can withdraw at a branch
Bottom Line
Fidelity Cash Management Account is the best option for high-balance savers who want ATM fee reimbursement plus FDIC coverage up to $5 million. For everyday ATM use, it’s equivalent to Schwab. The $500 default ATM limit is the only friction point — increase it to $2,500 through the website for full capability.