Once you've decided that a money market account is going to be part of your savings strategy, you're ready to start shopping for the right bank. If you're concerned about earning the highest interest rate possible with your savings in a money market account, be aware that online banks often can offer higher rates than their brick-and-mortar counterparts. What they don’t have in overhead costs they can pass on to their customers in the form of great rates.
Wondering what else you should consider before choosing your bank, when you compare money market accounts? Be sure to find out:
- Is there a minimum amount required to open the account?
- Is there a minimum balance required to maintain?
- Will the bank accept automatic deposits in your money market account?
- What happens if you exceed the federal withdrawal and transfer limits applicable to the money market account?
With an Ally Bank Money Market Account, you get a variable rate that's consistently among the most competitive in the country, and you can open and fund your account with any amount. You can use any Allpoint no-fee ATM—plus receive up to $10 reimbursement for fees charged at other ATMs nationwide each statement cycle. You’ll also get free standard checks and a debit card.
Ally Bank, member FDIC