Monday, January 4, 2010

Money Market Subprime What Is The Difference Between A Savings Account And A Money Market Account?

What is the difference between a savings account and a money market account? - money market subprime

I want to open account to a savings account separate from my bank account at a higher interest rate. I think reading about "money accounts. What is the difference between a savings account and a money market account? What are the pros and cons, thanks to one?!

4 comments:

Anonymous said...

A savings account is insured by the FDIC. If the bank does not, the money is blocked on the account, to 250,000. However, the most money is not really "celebrate" in the bank. The bank turns around and pays 90% to others, so that they can earn interest and capital gains. In general, referred the savings account interest rate very little, not even enough to keep inflation under control.

A money market account is an investment account and is not insured. You can lose all that technically the same. However, this has never happened in the history of money market accounts, as most insurance rates on investments (treasury bills and high short-term commercial paper). Moreover, for every dollar that you in there is a real support of the U.S. dollar in the account.

In general, money market accounts have to be higher interest rates than savings accounts, but in today's world is not the case. It is necessary to confirm the prices.

As for the money market and savings accounts are generally used to carry the "emergency fund store"These are funds that are readily available and intends to hold its value in the short term in order to have access to cash if needed.

tinman97... said...

Law are similar. The rules may differ slightly different depending on where your accounts if you need .... To have further information, but in general:

both pays an interest rate of small
the money market usually offer a slightly higher
Money Market Account is a minimum deposit higher (ie, a greater amount) from account opening
Some money markets limit the number of transactions per month

With interest rates generally desirable, very low power, or will pay much attention to. Consider investing in search of other opportunities "" money. The most obvious would be the means to pay debts that you may have, as mentioned, such as credit card numbers or mortgage, these elements have a much better performance than money in a savings account

tinman97... said...

Law are similar. The rules may differ slightly different depending on where your accounts if you need .... To have further information, but in general:

both pays an interest rate of small
the money market usually offer a slightly higher
Money Market Account is a minimum deposit higher (ie, a greater amount) from account opening
Some money markets limit the number of transactions per month

With interest rates generally desirable, very low power, or will pay much attention to. Consider investing in search of other opportunities "" money. The most obvious would be the means to pay debts that you may have, as mentioned, such as credit card numbers or mortgage, these elements have a much better performance than money in a savings account

tinman97... said...

Law are similar. The rules may differ slightly different depending on where your accounts if you need .... To have further information, but in general:

both pays an interest rate of small
the money market usually offer a slightly higher
Money Market Account is a minimum deposit higher (ie, a greater amount) from account opening
Some money markets limit the number of transactions per month

With interest rates generally desirable, very low power, or will pay much attention to. Consider investing in search of other opportunities "" money. The most obvious would be the means to pay debts that you may have, as mentioned, such as credit card numbers or mortgage, these elements have a much better performance than money in a savings account

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