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However, some money market accounts have monthly fees to watch out for. Which is better: money markets or savings accounts? Depending on your financial goals, both can be great options.
Usually, if a bank charges a monthly fee for its money market account, there are ways to avoid the fee. An example is CIBC Bank , which charges a $15 monthly fee. You can avoid the fee by ...
While money market accounts work like high-yield savings with FDIC protection, ... Small risk of losing your money. Fees. $0 to $25 in monthly fees with optional fee waiver on most accounts.
It pays to research monthly service fees when you’re shopping for a money market account. Some will waive the fee if you maintain a set minimum balance or set up a direct deposit into the ...
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.
First Internet Bank: Money Market Account. Why it stands out: The First Internet Bank Money Market Account has a $5 monthly fee (waived if your account balance is $4,000 or more) and 0.50% annual ...
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