Ads
related to: bank of america money market account minimum balance
Search results
Results From The WOW.Com Content Network
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.
Minimum balance requirements. ... but premium accounts — like Bank of America Preferred Rewards — often come with hefty minimum balance requirements of $20,000 or more. ... Money market accounts.
Bank of America’s basic savings account has a $100 minimum opening deposit. There’s also an $8 monthly fee that’s waived if: You maintain a minimum daily balance of $500.
This compares to the 0.01% APYs some of the biggest national banks like Chase and Bank of America pay. ... Money market account. ... Minimum balance requirements. High account minimums can be a ...
Money market accounts are insured by the FDIC or NCUA for up to $250,000 per person, per account. Drawbacks of a money market account. May require minimum balance. An MMA may require a minimum ...
When you make a deposit in a money market account, it does more than just sit there. It grows. The average money market account rate is currently 0.48 percent, according to Bankrate data. Make ...
Ad
related to: bank of america money market account minimum balance