Money market accounts (MMAs) and certificates of deposit (CDs) may seem interchangeable. They're both bank products that offer interest and peace of mind, as they're FDIC-insured. However, choosing between them ultimately depends on the specific objective you have for the cash and your need...
Money market accounts, also referred to as MMAs, are a type of savings account that is FDIC insured up to applicable limits and earns interest. Your interest rates will vary based on your zip code and balance. With our best interest rates, a Huntington Relationship Money Market Account can ...
Savings Accounts, Money Markets and CDs Watch your savings grow with an account that offers competitive rates and terms that best fit your goals and lifestyle. Make real financial progress knowing that your money is insured by the FDICfootnote 11. Easily manage your money online with a variety...
Money market accounts at federally insured banks are very safe, as they are protected by theFederal Deposit Insurance Corp. (FDIC)in the event that a bank fails. The FDIC insures up to $250,000 per depositor, per account ownership type at each bank. This means that if you have $200,00...
Money market accounts that are offered by banks (money market DEPOSIT accounts, or MMDA’s) are FDIC insured, but many are also offered by mutual funds and investment brokerage firms that aren’t covered by FDIC. There is, therefore, some risk of loss as a result. ...
Money market mutual funds, however, aren't insured by the government—even if you take one out at a bank. Features of Money Market, Other Types of Accounts for Saving Source: Investopedia Features of MMAs Check-Writing and Debit Card
Money Market accounts typically have more Checking-like features, such as electronic funds transfers, checks, debit cards and ATM withdrawals. Both will be insured (Member FDIC), keeping your deposits safe. Savings accounts generally only allow access to funds via electronic funds transfers, telephone...
As you can see, the accounts are more alike than they are different. They are each offered by FDIC-insured banks, and both offer relatively low interest rates. Money market accounts might fit your needs if you are interested in putting some money away for a rainy day, while Savings account...
“They’re liquid, earn interest, have check writing and/or debit card privileges, and are FDIC-insured.” And as mentioned before, many money market accounts also have minimum balance requirements and may offer higher interest rates, at least on larger balances. Since money market and saving ...
FDIC Insurance and Safety Both savings and money market accounts are insured by either the Federal Deposit Insurance Corp. (for banks) or the National Credit Union Association (for credit unions), meaning the government insures your deposits up to $250,000. Money Market Funds Do not confuse...