Whether a money market account is worth opening depends on your unique financial needs and goals. However, there are some circumstances in which a money market account can be a great fit: Short-term savings goals: A money market account can be a great place to tuck cash away for an upcomi...
What’s the difference between a money market and a checking account? Money market account: pros and cons Checking account: pros and cons How to choose a money market and checking account How does a money market account compare with a savings account and CD?
Best Money Market Account Interest Rates What Is a Money Market Account? How Does a Money Market Account Work? Pros and Cons of Money Market Accounts How to Choose a Money Market Account More Banking Products What to Use a Money Market Account for? Money Market Account vs. Savings vs. CD...
Pros Competitive yields. At least $15 a month in ATM reimbursements. More than 95,000 in-network ATMs. Cons You must qualify in order to receive the highest rates.No minimums and a competitive rate Ally Money Market Account Annual percentage yield 3.85% Minimum deposit requirement $0 ...
The best money market accounts have rates above 5% APY. Here’s how to make your money work harder.
But banks and credit unions can still impose their own limits, so be sure to inquire about transaction limits with any financial institution where you consider opening an account. Pros and cons of money market accounts With many financial institutions offering lower opening deposit requirements ...
Pros and cons Read review Synchrony Bank Rating: 4 stars out of 5 4.0 Bankrate savings score Annual percentage yield 2.25% Min. deposit to open $1 Why Synchrony Bank? Synchrony Bank is known for its credit cards and deposit accounts. Its money market account earns a competitive yield ...
In addition to higher rates, you will also have similar access to your money as with a savings account. This means that you will be able to write checks and withdraw money. More Money Down If you anticipate needing a healthy portion of your savings at any time, however, don't go with...
A money market account (MMA) is a type of savings account that combines the best features of both checking accounts and regular savings accounts. With money market accounts, you can access your savings through checks and debit cards while typically also earning a higher interest rate than you ...
Pros and Cons of Money Market Accounts Pros Your balance earns interest Withdraw and deposit when you like Offers virtually risk-free safety If rates rise, your APY could increase Cons Scoring a high APY may require opening an account at another bank ...