Hi Budugu, there is an active thread in the AMEX forum on this card:
http://www.flyertalk.com/forum/showthread.php?t=639209
Yes. Both AMEX and the ATM Owner charge fees. The ATM Owner fees are reimbursed on sizable or heavy-trading accounts.
I do not think that they have an average balance requirement. I think that you just need to have $5k when you apply for the card. Remember you can only spend based upon your account balance. (AMEX applies some formula...)
The Fidelity AMEX Platinum/Gold Deferred Debit Cards are completely independent of the Fidelity Visa Signature and other products, i.e. you can have all or none. You can also get a Visa Debit Card on the account.
Final thoughts (and then we should probably get back on topic...):
a. The Fidelity AMEX Platinum is $320. The regular AMEX Platinum is now $450. AMEX has stated that the Fidelity AMEX price will not change.
b. If you also have a DL AMEX you still get a $55 annual fee discount on your DL AMEX for carrying an AMEX charge card (i.e. the Fidelity AMEX Platinum/Gold)
c. I have the Platinum AMEX. However, the Fidelity Gold AMEX may even be a better deal: its free except for the optional Membership Rewards fee.
d. It may be too late to get these cards. Apply as soon as you can.
e. I am strongly considering Fidelity for all of my banking. (I am historically pro-Citibank.) I like the tax-free core account. There are branches in many cities. Their online bill payment is very good.
Oh... I do not know much about the Ameriprise Card...