BarbiJKM

I'm an existing Fidelity brokerage account customer, and just completed a rather frustrating IM chat session with a CSR (rather than a phone call; I wanted to be able to print out the answers). The link for the Delta promotion (good until 2/14/11) that includes existing customers who add new money (https://scs.fidelity.com/other/offer...on_delta.shtml) includes an enrollment form that requests SSN but not an existing account number. Completion of registration for the promotion results in an automated email with a link to forms to open a NEW account, but no info on how to make sure an EXISTING account is eligible and enrolled in the promotion.

I was assured that existing customers are included in this promotion and that my MMA account was eligible.

After a roundabout discussion with CS, this is the information I received: (1) No email will be sent confirming your enrollment of an existing account in this promotion; (2) it will take one day (after 4 a.m. following day) for your enrollment to be processed; and (3) after that time you can verify your eligibility only by calling 800-544-6666 (and most likely be given the same 30 minute runaround that I just went through) OR by IM'g through Fidelity's online chat session (make sure and print out everything that's said).

The promotion is apparently tracked by SSN, not account number. One promotion per household, and I was asked specific questions from info on my credit report -- employer, who the CSR named, for example -- so I'm pretty sure I can't enroll my husband too.

oshelef

By MMA do you mean a MySmartCash Account? Or do you have a brokerage account with a money market in it?

BarbiJKM

On my Fidelity statement, the account is called "Fidelity Municipal Money Market." When I first opened it about 20 years ago, it was called "Ultra Services Account (Fidelity USA)." It's basically a money market account with free checking, and I can do brokerage trades from it as well.

oshelef

Ah ok. I have both accounts so it doesn't really matter. I was just trying to clarify.

Phaetotheus

Yes, based on my experience, the "one promotion per household" rule, although not explicitly stated anywhere I can find, applies across all of the airline promotions. Therefore, I couldn't get both the AA promotion for opening an account and the DL promotion for adding money.

AlohaStyle

Can anyone report on if recycling deposits have worked recently? Say I deposit $10,000, transfer to other bank, deposit back into Fidelity some days later etc...

I already have all my stocks/mutual funds in Fidelity so my only option is to move some cash around.

idlebrain

Hello, just depositing the required acounts is enough to get the eligible miles? or does it require any transactions related to trading? thanks

freakflyer

Thanks. I will give that a try. I registered for the American promotion but got an email two days later saying that I don't qualify as I already have an account. They may be flooded right now with requests for this deal.

onthego15

No trading is required. And miles post very quickly (within a few days after my securities had been transferred into Fidelity)

BarbiJKM

As a follow-up to my prior post (#181), and after two IM chats with a rep on the Fidelity site, I received confirmation that my existing MMA account was eligible AND enrolled for the Delta promotion with a new deposit. I have saved and printed out the text of both IM chats.

This morning I got an automated email that says:

"Thank you for signing up for the Fidelity Account® special offer for Delta SkyMiles® members.

Our records indicate that you are not currently eligible for this offer because NASD affiliated customers are not eligible for this offer."

I have no idea what "NASD" is...

The next email in my inbox was a link to a message to my Fidelity account on the website, which says:

"Thank you for your interest in making a deposit to your accounts to take advantage of our Delta SkyMiles promotion.

All non-retirement brokerage accounts (excluding 529 accounts) are eligible for the Delta SkyMiles promotion you referenced in your message. Once you register for the promotion and the request is received in good order, your SkyMiles account will receive the miles eight weeks after the account is funded."

My MMA account is a non-retirement account.

Obviously the automated system is confused about what to do with existing customers. However, the LIVE people seem to agree existing non-retirement accounts are eligible. I'll report what happens when my deposit hits the account. Meanwhile, I'm not paying attention to the automated email!

BarbiJKM

The Delta promotion is now open to existing customers (with non-retirement or 529 accounts) but I'm not sure the American promotion is? The link on the first page of this thread seems to indicate that American's promo is for new accounts, new customers only.

Here are the links:

Delta:

https://scs.fidelity.com/other/offer...on_delta.shtml

AA:

https://scs.fidelity.com/other/offer...shtml?MSC=AA01

uszkanni

NASD stands for "National Association of Securities Dealers." Evidently, Fidelity thinks that you are somehow connected to the brokerage industry. You might check over your account info or the docs you filled out when opening your account(s) to see if you indicated that you were employed by a brokerage firm or an exchange (NASDAQ, NYSE, etc) or have some other connection to the industry.

BillyIdol

LOL, that's why I love these forums. The tricks that people here will think of and thankfully share. It is pretty funny.

HoKo

And are you keeping the funds in there for now or did you transfer them back out already?

+1, are people still using the recycling trick?

And are you keeping the funds in there for now or did you transfer them back out already?

Anyone with data points on this?

onthego15

I put a little over $100,000 worth of securities in a new account last July and received my 50,000 AA miles within a few days. A couple months later I took about $17,000 out to use for another deal. Someone else reported taking everything out after receiving their miles and Fidelity did nothing to them. I will probably transfer the remainder out soon. I'm at six months with Fidelity.

Many, many people ask this same questions about recycling money with Fidelity. In my memory only josephstern has reported doing it, and he did it in early 2010. I don't remember anyone reporting doing it in the past six months (or since this thread with this deal started). And yes, the question has been asked again and again periodically throughout the thread.

So, the short answer is no one has reported recycling money into a Fidelity account with this particular offer.