Has anyone used Fidelity statements (cash requirement held in SPAXX) for their DTV visa application?
Vs. ie) a Bank of America. I find the yield is higher and prefer to keep my cash requirements in a money market account. Thanks
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TLDR : Answer Summary
The conversation discusses the use of Fidelity statements from a SPAXX account for a DTV visa application. Respondents express concern that immigration authorities may not recognize Fidelity as a bank and may not accept this type of account. Suggestions include transferring funds to a high-yield savings account, such as those offered by Marcus, which have been successfully used in other applications. There is also advice to accompany the Fidelity statements with a cover letter to clarify the nature of the account.
I'd be very surprised if that type of account is accepted.
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It's a gamble because, more than likely, they have never heard of this type of account and you will be relying on their ability to understand it.
You'd be better off moving the required cash into a high-yield savings account like Marcus which I used for my application with no problem. If you really want to use your SPAXX account, you might want to give some thought to doing a cover letter explaining, in a kind of indirect way, what the account is. "Please find attached statements from my money market savings account showing more than the minimum required balance." That way you're not leaving them free to think, "WTH kind of account is this? Fidelity? Nah, that's a brokerage." Good luck!
Anonymous ******************
Fidelity is not a bank. Most likely they won't agree to it.