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With a money market account, you earn interest on your account balance as you would with a savings account. However, one important difference is that interest rates on money market accounts are...
If a person has money market accounts at two FDIC-insured banks, each account will be insured separately up to the established limit of $250,000 per depositor, per FDIC-insured bank, ...
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 ...
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 ...
FDIC deposit insurance covers deposit accounts, which, by the FDIC definition, include: checking accounts and negotiable order of withdrawal (NOW) accounts (interest-bearing checking accounts with a hold option) savings accounts and money market deposit accounts (MMDAs, i.e., higher-interest savings accounts subject to check-writing restrictions)
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.
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