How to get more from your cash at Fidelity

Option 1: Treasury bills, bought at auction

Backed by the U.S. government and free of state income tax. Usually the most you can keep in a high-tax state, and with automatic rollover it runs on its own. New to them? Read the full Treasury bill guide.

1. Go to News & Research, then Fixed Income, Bonds & CDs.
2. Choose New Issue and set Product Type to Treasury.
3. Pick a bill and select Buy.
4. Choose the account and enter the quantity. One unit is $1,000 face value, so $50,000 is 50.
5. Set Auto Roll to Yes so the bill reinvests in the same term at maturity (available on Treasuries up to 5 years). Then Preview Order and Place Order.
6. The order stays open until the auction; enrolled positions show “AR” on your Positions tab.

Steps checked against Fidelity’s own help pages on October 27, 2026.

Option 2: A money market fund

The simplest switch: one trade, and the money is usually available the next business day. Not FDIC-insured, but government and Treasury funds hold only government debt.

1. Search the fund’s ticker in the trade screen and choose Buy. At this firm: a Treasury-only money fund, or SPAXX as your core position if you're on the FDIC sweep (common in IRAs).
2. Enter a dollar amount. Check the fund’s minimum and whether the firm charges a fee to buy it.
3. Ask whether it can be your default cash (“core” or “sweep”) option, so new deposits land there automatically. Some firms allow it; many don’t.

Before you move it

• Leave enough in the sweep for bills, transfers and trades you have coming up.
• T-bills pay their full yield if held to maturity. Sold early, they get the market price, which can be a little more or less.
• Money market funds aren’t FDIC-insured; the sweep usually is. Treasury bills are backed by the U.S. government.
• In an advisory account, ask whether the advisory fee is charged on cash. A 1% fee on cash earning little can cost more than it earns.
• Prefer not to use the broker? TreasuryDirect sells bills directly, with an automatic reinvest option.

Fidelity’s own help pages

• Fidelity: How to trade auction Treasuries (PDF)
• Fidelity: Auto Roll FAQs

General information, not investment advice. Rates and menus change; confirm with Fidelity before you trade. See what Fidelity’s cash rate has cost you so far →