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The FDIC only insures money market accounts at FDIC-insured banks. ... If your bank fails, the FDIC should replace your money up to the coverage limits within a few business days. ... bonds and notes.
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.
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 ...
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.
Money market accounts, on the other hand, are traditional, interest-earning deposit products that are federally insured as long as they are deposited at an FDIC-insured institution. They are ...
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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 ...
In many cases, FDIC insurance will cover a larger portion of the funds. With joint accounts, the FDIC insurance covers up to $250,000 per co-owner — or $500,000. However, this limit applies to ...