What is the difference between an Online Savings Account and Money Market Account?

The differences are their rates and the ways you can withdraw money from them. Both let you make unlimited deposits electronically, by wire, and by mailed check. Both also allow six electronic and telephone withdrawals and transfers per statement cycle — as limited by federal law — although a Money Market Account does provide more options for how you can make those transactions.

To summarize:

• Our Online Savings Account usually has a higher APY and lets you withdraw via bank-to-bank online transfers only.
• Our Money Market Account usually has a lower APY but lets you withdraw money by debit card, check, and bank-to-bank online transfers.