Fidelity Bloom App: Fintech Nudges, Traditional Broker (0 New User Bonus +  Savings Match)

New user bonus increased to $100 for a limited-time. Fidelity Bloom is a new(er) app from Fidelity Investments targeted at helping young adults become more financially aware and develop better savings habits. iOS and Android. Fidelity has included many “behavioral psychology” features from other fintech startup apps like a match on savings transfers, debit card cash back rewards, rounding up purchases and saving the difference, and shopping portal cashback. The highlights:

  • $50 $100 new Bloom app user bonus. Open a new Bloom account via app and fund it with $50 and get $100 into your Bloom Save account. Valid for both new and existing Fidelity brokerage customers.
  • Annual savings match. For a limited-time, customers will receive an introductory 10% match on the first $300 saved into their Bloom Save account ($30 max). Standard annual match is 5% on first $300 saved.
  • 10 cents from Fidelity with every debit card purchase. Fidelity will automatically deposit 10 cents into the Fidelity Bloom Save account every time customers use the Fidelity Bloom debit card. Reminds me of the Citi Rewards+ credit card.
  • Automatically round up purchases into savings. Customers can automatically round up5 purchases to the nearest dollar and have the difference moved to savings from their Fidelity Bloom Spend to their Fidelity Bloom Save account.
  • Up to 25% cashback through shopping portal. Receive up to 25% cash back into your Fidelity Bloom Save account when you shop in-app with 1,100+ participating retailers.

Interest rate? Is it a bank account? Is it a brokerage account? It’s a SIPC-insured brokerage account:

The Fidelity Bloom App is designed to help with your saving and spending behaviors through your Save and Spend accounts, which are brokerage accounts covered by SIPC insurance. They are not bank accounts and therefore are not covered by FDIC insurance.

You do get a routing number and account number for your two accounts, but the cash is held like their other non-retirement accounts. During the sign-up process, you can pick between one of three options for your core position:

  • Fidelity® Interest-Bearing Option (FCASH)
  • Fidelity Government Money Market Fund (SPAXX)
  • Fidelity Treasury Money Market Fund (FZFXX)

Although I have confidence in Fidelity’s long-term experience and conservatism in running these money market mutual funds, the lack of FDIC coverage is something to note. The rates may change daily. View current rates here.

After you open via app, you can see the account balances at but you’ll still need the app to change any settings. Here’s a screenshot from my app.

Fidelity Bloom App: Fintech Nudges, Traditional Broker (0 New User Bonus +  Savings Match)

Fidelity recently shut down another of its experimental apps called “Fidelity Spire”, so we’ll see if this one catches on a bit better.

Terms & conditions for the $100 limited-time offer:

This offer is valid for new or existing Fidelity Brokerage Services LLC (“Fidelity”) customers who make an initial total deposit of at least $50 (“Qualifying Deposit”) into their Fidelity Bloom Spend account or Fidelity Bloom Save account on or after August 13, 2023 through the Fidelity Bloom app. This offer is limited to one cash award per individual. For clarity, 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, 2023. Existing Fidelity customers who have previously made deposits into their Fidelity Bloom Spend or Save accounts, including individuals who have already participated in the Bloom $50 offer, are not eligible for this offer.

“The editorial content here is not provided by any of the companies mentioned, and has not been reviewed, approved or otherwise endorsed by any of these entities. Opinions expressed here are the author’s alone. This email may contain links through which we are compensated when you click on or are approved for offers.”

Fidelity Bloom App: Fintech Nudges, Traditional Broker ($100 New User Bonus + $30 Savings Match) from My Money Blog.

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