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The NCUA insures money market accounts through the National Credit Union Share Insurance Fund. Credit union members can receive up to $250,000 at NCUA-insured credit unions if they fail.
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.
Regulation D was known directly to the public for its former provision that limited withdrawals or outgoing transfers from a savings or money market account. No more than six such transactions per statement period could be made from an account by various "convenient" methods, which included checks, debit card payments, and automatic transactions such as automated clearing house transfers or ...
Frequently asked questions: Money market accounts and your savings. Learn more about the benefits of a money market account when deciding whether it’s a fit for your budget and financial objectives.
Most money market accounts allow the account owner to write a limited number of checks each month. Banks and credit unions also commonly limit the amount of withdrawals that can be made from a ...
This type of account is available through banks and credit unions. Depending on the financial institution, a money market account can come with FDIC or NCUA insurance, which protects your funds ...
Demand deposits or checkbook money are funds held in demand accounts in commercial banks. These account balances are usually considered money and form the greater part of the narrowly defined money supply of a country. Simply put, these are deposits in the bank that can be withdrawn on demand, without any prior notice.
Money market accounts have gained popularity over the past few years as interest rates have risen across all deposit accounts. The most competitive rates surpass a 4 percent annual percentage ...