Fidelity Cash Management Accounts -- can only categorize as "Investments"?

Question

Why do some Fidelity Cash Management Accounts only have the option to categorize as "Investments"?

I have two Fidelity Cash Management accounts — one is a personal account which I added a year ago and has the option for me to classify as a "Checking" or "Investment" account. I categorize as "Checking" to keep it grouped with my other deposits accounts since that is how I use it.

My other Fidelity CMA is a joint account with rights of survivorship and it only has the option to categorize as "Investment" even though it is essentially the exact same type of account as my personal Fidelity CMA.

Why is this the case? It would be nice to give the option to choose for all cash management accounts.

SRC54 · Accepted Answer

This seems to be locked by Fidelity, and it is the same in Quicken Classic.  I got around it in Quicken Classic by making my CM account a manual account.

You can try making yours manual, put it where you want, and then add a new account and link it.  But this has not worked for everyone. @franks was able to get it work by first making it manual, then deleting it and making a new manual account before then linking it.  You can view his post in the thread below.

We have been given to understand that QS is working on a solution to this, because most of us want our cash management accounts to be listed either as Checking or Savings.  Here is a link to vote for this:

https://community.simplifimoney.com/discussion/12671/allow-users-to-classify-an-investment-account-as-a-non-investment-account

Please add your vote.

Vulpes · Accepted Answer

@SRC54 thank you for the suggestion, it worked for me! The steps I took:

* Deleted incorrectly categorized Fidelity joint CMA
* Added a dummy manual account to Checking
* Re-added all my Fidelity accounts (checked every box, and it only found my joint CMA as "new")
* Linked with the dummy manual account sitting in Checking