A Money Market Account is similar to a Checking Account however it pays a higher interest rate as long as you maintain a minimum balance of $1,000. If your Checking Account typically has a balance over $2,500 you may want to consider opening a Money Market Account to earn interest.
You can open a Money Market Account with an initial deposit of $2,500. As long as your balance stays over $1,000 you’ll continue to receive interest on your funds. There are no monthly service fees unless your account balance drops below $500.
A Money Market Account is not the type of account you pay your daily bills from. It’s designed as a way to keep a sizeable amount of savings available so you can write a sizeable check at any time.
Money Market Account Features
- Write up to three checks per month without a penalty.
- Make up to three non-check withdrawals per month.
- Authorize up to six pre-authorized drafts per month.
- Receive low-cost custom Money Market checks.