Thursday, November 23, 2006

Fidelity saga - correction: no fee for supermarket debit cashback

Contrary to what I originally posted in Fidelity saga - mostly there, cashback on a supermarket purchase using a Fidelity debit card does not count against the five free ATM withdrawals that Fidelity gives you each month. So, a cashback purchase twice a week for eight cashbacks per month has no fees from Fidelity. As a result, I will likely use debit card cashback as my primary means of getting my weekly pocket cash.

Note: Even though Fidelity gives you five "free" ATM withdrawals each month, that simply means that Fidelity doesn't add its own fee, but the ATM owner will likely add a fee, such as the $2 my own bank (Wells Fargo) charges per ATM withdrawal for anything other than the bank's debit card. You can get service from Fidelity that refunds even that bank fee, but I haven't paid for that extra service.

-- Jack Krupansky

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