You can earn a competitive APY with the High Yield Money Market account, but you’ll only earn interest on balances of $1,000 or more. You’ll also need at least $1,000 to open this account. Pros and cons Read review Sallie Mae Bank Rating: 4.9 stars out of 5 4.9 Bankrate ...
Some of the best MMAs, such as theAlly Bank Money Market Account, even offer debit cards where you can spend the cash in your account directly on purchases at a store like you would if it were cash from a checking account. The Ally Bank Money Market Account ranks asour best overallfor ...
When deciding between a money market account vs. savings account, your choice really dependson accessibility, the minimum balance requirement, and the interest rate. A regular ole savings account works best for storing yourstarter emergency fund—mostly because some money market accounts require a min...
If you’re looking for a safe place toinvest your money, you may be trying to decide between a money market account or a money marketmutual fund. Both offer steady returns and areless volatilethaninvesting in the stock market. Despite the similarities—and similar-sounding names—there are di...
As you’re considering which account is best for you, it’s smart to consider first what is a money market account vs. a savings account? Here’s what you need to know: Money market account: Maintain growth and easy access Not to be confused with money market funds, which are a type...
money market account to the mix “because of the higher interest rate—to store my savings for short-term goals, for investing or for money I’ll be needing soon,” she explains. Maybe it’s not about deciding between a money market or a checking account but getting the best of both ...
How to find the best money market account If you do choose to open a money market account, make sure to shop around. “Not all money market accounts are the same,” says Charles Krawitz, chief capital markets officer at Alliant Credit Union. “Look closely at the balance requirements, in...
The best ways to use either On the surface, money market accounts and savings accounts may seem to compete with one another for the depositor’s dollars, but that isn’t nearly true. Each has a place in your finances, but under different circumstances and for different purposes. ...
If check-writing is a feature you find useful, shop from the best rates on true money market accounts that offer this feature. Just don't assume that if the account has "money market" in its name it offers the ability to write checks. Some banks simply use the term on regular savings ...
The term money market account (MMA) refers to an interest-bearing account at a bank or credit union. Thebest money market accountshave some features that are not found in other types of accounts. Most money market accounts pay a higher interest rate than regular (passbook) savings accounts a...