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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
For example, if you have $150,000 in checking, $100,000 in savings and $50,000 in a money market account, then that’s a total of $300,000 at a single FDIC-insured financial institution.
Perhaps the most important difference between money market funds and money market accounts is that money market funds are not insured by the Federal Deposit Insurance Corporation, or FDIC, whereas ...
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.
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.
A money market fund (also called a money market mutual fund) is an open-end mutual fund that invests in short-term debt securities such as US Treasury bills and commercial paper. [1] Money market funds are managed with the goal of maintaining a highly stable asset value through liquid investments, while paying income to investors in the form of ...
Money market accounts combine the features of checking and savings accounts and are FDIC- or NCUA-insured. Money market funds aren’t federally insured or regulated, but can still be a safe place ...