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Navy Federal Credit Union, for example, allows for unlimited withdrawals by any method from its Money Market Savings account. However, it requires a higher minimum balance — $2,500 — to earn ...
The Federal Deposit Insurance Corporation (FDIC) and National Credit Union Administration (NCUA) insure up to $250,000 in a money market account, so you can be confident you won’t lose your ...
Money within a money market account is insured by the Federal Deposit Insurance Corporation or the National Credit Union Administration for up to $250,000 per person, per account.
A money market account (MMA) or money market deposit account (MMDA) is a deposit account that pays interest based on current interest rates in the money markets. [1] The interest rates paid are generally higher than those of savings accounts and transaction accounts; however, some banks will require higher minimum balances in money market accounts to avoid monthly fees and to earn interest.
Advantages of money market accounts often include high yields, liquidity and federal insurance for your funds. They may come with the ability to pay bills, write checks and make debit card purchases.
Money market accounts offered at banks that are insured by the Federal Deposit Insurance Corp. (FDIC) receive the same level of FDIC insurance as other types of bank accounts including savings ...
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