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Money market accounts (MMAs) Money market funds (MMFs) Provider. Banks and credit unions. Investment firms and brokers. Insurance. FDIC or NCUA up to $250,000
The FDIC only insures money market accounts at FDIC-insured banks. The NCUA insures money market accounts through the National Credit Union Share Insurance Fund.
A money market account covered by FDIC insurance is protected up to $250,000 per depositor, per insured bank for each account ownership category, according to the FDIC.
The money market account offered by Ally Bank is an example of an FDIC-insured money market account. The account earns a competitive yield, and it also comes with a debit card and checks.
Online-only banks and digital accounts may not sound as familiar as bigger names, though each is FDIC-insured or partners with an FDIC-insured bank to offer deposit accounts that are protected for ...
Money market accounts are insured by the FDIC or NCUA for up to $250,000 per person, per account. Dig deeper: High-yield savings account vs. traditional savings account: Why it’s worth the ...
A money market account is a savings account, so you will not lose money based on fluctuations in the stock market. However, some money market accounts have monthly fees to watch out for. Which is ...
Typically, as the Fed rate rises, so do APYs on savings products like CDs, high-yield savings accounts and money market accounts — surging up to 4.5% and higher today to accelerate your savings.