BEST MONEY MARKET ACCOUNTS FREE OF MONTHLY

They will typically come with a debit card or checks and allow a limited number of transactions each month. A money market account is a savings account that has some checking account features. UFB offers one of the highest interest rates out there on money market accounts, but there are also specific requirements for account holders. The account provides an interest rate of 0.20 on balances of 25,000 or higher. For the first 25,000, the bank offers an interest rate of 0.50. The account is backed by FDIC insurance for up to 250,000.You are now leaving University Federal Credit UnionвЂ™s website and being directed to University Financial Services where all services are provided by Cetera Advisor Networks and not University Federal Credit Union.Get the best of both worlds with a Consumers High Interest Money Market account.

The key difference is that they pay a higher rate of return than savings accounts, and you may find that the minimum opening deposit and daily balance requirements are substantially higher.However, they are a great way to earn a return on your money if you happen to be sitting on a large stash and would look to rake in some interest without investing or parking it into a Certificate of Deposit. How so? Well, most are accompanied by a debit card and checks, unlike traditional savings accounts. What is a money market account?Simply put, a money market account is a savings account accompanied by checking account features. But how do they work? And are they an option you should consider if you want to make your money work harder for you.Keep reading for the answers to these questions, along with a comprehensive listing of the best money market accounts out there. The more you invest.If youвЂ™ve recently searched for a checking or savings account, chances are you may have also spotted money market accounts on the list of offerings from the financial institution. At Travis, we offer five Money Market Accounts for the best return on your savings.

A minimum daily balance of over $25,000- 1.00 percentEven better, youвЂ™ll never pay a monthly fee for the duration of the account. A minimum daily balance of $0 to $24,99- 0.90 percent Ally Bank Money Market AccountThe APYs on the Ally Bank Money Market Account are as follows: So, weвЂ™ve compiled a list of the top products to help you get started on your search. Top Money Market AccountsWith so many money market accounts to choose from, itвЂ™s easy to get overwhelmed when exploring your options. Plus, youвЂ™ll earn a return that blows the interest rate on checking accounts out the water.

Maintain a daily balance of at least $10,000You can make up to six withdrawals per month without incurring any fees, and the account can also be used for overdraft protection if it is linked to your checking account. Schedule a recurring monthly transfer of at least $25 from your BBVA Compass checking account All you need is a minimum opening deposit of $25 to open an account, and there are no balance requirements for you to meet before you can start earning a return on your money.However, a monthly service charge of $15 does apply but can be waived if you meet one of the following criteria: BBVA Compass Clear Choice Money Market AccountThe BBVA Compass Clear Choice Money Market Account pays an APY of 1.80 percent to account holders. In addition, remote check deposit with Ally eCheck Deposit or you can elect to use their postage-paid envelopes to deposit funds. And in the event you do incur surcharges from ATMs that are out of the Allpoint network, Ally Bank will reimburse you for up to $10 in fees for that particular statement cycle.You should also know that there are no caps on the number of deposits or ATM withdrawals you can make per month.

Best Money Market Accounts Free Of Monthly

Incoming wire transfers are also permitted. And if your balance is below this amount, youвЂ™ll still earn 0.85 percent APY without spending a dime to keep the account open.Deposits can be made via the mobile app, by setting up a recurring transfer from another bank or your Capital One checking or savings account, or at a physical location. Not only is it also free of monthly service charges, but this account allows you to earn an APY of 2.00 percent on balances of $10,000 or more.

There are no monthly maintenance fees, but you will incur a fee of $10 per transaction (capped at $50) once you exceed six transactions in a month.A unique feature of this account is the ability to not only transfer funds to external accounts but to also send funds to PayPal. CIT Bank Money Market AccountWith an opening deposit of $100 or more, you can be on your way to earning an APY of 1.85 percent with the CIT Bank Money Market Account. But only six withdrawals are permitted on a monthly basis.Account holders can also use the digital savings tools to help them map out, execute, and reach their savings goals faster.

Sallie Mae Bank Money Market AccountWhile Sallie Mae is thought to only specialize in servicing student loans, they also have a hidden gem in their arsenal. YouвЂ™ll also be able to use the funds in your account by swiping your debit card or writing a check.Another added benefit is the first fee forgiveness feature, which will let you off the hook for the first mishap on an annual basis. 1.90 percent on balances that exceed $100,000Upon opening an account, youвЂ™ll be able to access your cash if needed in a jiffy from the network of over 60,000 fee-free ATMs. 1.85 percent on balances less than $100,000

For subsequent years, their tiered earnings structure is as follows: While this may seem a bit hefty, youвЂ™ll earn an introductory APY of 2.15 percent in the first year. Not only will you avoid monthly account fees, but thereвЂ™s also no cost to use online bill pay or make mobile check deposits.To open an account, youвЂ™ll need to make a deposit of $5,000 or more. TIAA Bank Yield Pledge Money Market AccountThe TIAA Bank Yield Pledge Money Market Account is another fee-free way to grow your money. You will also have check-writing capabilities, and select transfers can be initiated without paying an additional fee.

1.70 percent APY on balances between $50,000 and $99,999.99 1.60 percent APY on balances between$25,000 and $49,999.99 1.15 percent APY on balances between $10,000 and $24,999.99

YouвЂ™ll also receive a debit card when you open an account to use for everyday purchases. However, this fee can be avoided if you maintain a daily balance of $5,000 or more.Mobile deposit is available free of charge, or you can use UFBвЂ™s free postage-paid envelopes to get funds to your account without spending a dime. A monthly service fee of $10 applies if your balance is below $4,999.99. UFB High Yield Money Market AccountThe UFB High Yield Money Market Account pays an APY of 1.60 percent on all balances. But for accounts that do not meet this minimum threshold, TIAA Bank will reimburse up to $15 per month in ATM fees.

But since not all accounts are accompanied by the same perks, youвЂ™ll want to do your homework before moving forward.