Home » What Is a Money Market Account, and Do I Need One?

What Is a Money Market Account, and Do I Need One?

by Firststatebank

In the banking and credit union sectors, a money market account is typically a savings deposit account. High-rated money market accounts may pay higher interest rates than traditional savings accounts, but they may also have higher minimum deposit and balance requirements.

  • Opening a money market account is simple, but you should choose a good band account because some money market accounts do not require a minimum opening balance. You will need these items to open your money market account.
  • You should have your government-issued photo identification card with you. Always be ready to lift a security freeze on your credit file in order to open the account if necessary. Keep track of the routing and account numbers for the accounts you’re using to fund this new one. Have your social security number handy as well.
  • Cash or a check may also be required to fund a new account opened in the branch.

First State Bank in Iowa provides good money market rates with a low interest rate. We also provide home mortgage loans, business loans, agricultural loans, and other services. Please contact us right away! https://www.fsbwc.com/

You may also like

Leave a Comment