Let's start by clarifying the difference between money market fund interest rates and money market account interest rates. As you may have guessed, they're different because the products themselves are different. A money market fund is an investment account, while a money market account is a type of bank account. Your money in a money market account at an FDIC-member bank is insured by the Federal Deposit Insurance Corporation (FDIC) up to the maximum amount allowed by law. Money market funds operate under a different set of regulations and are not protected by that insurance.

Interest rates on money market accounts vary from bank to bank and fluctuate with the economy. By contrast, money market fund interest rates typically are determined by the performance of the investments that the fund owns. To a certain degree, economic conditions play a part in both, of course, but with money market fund rates of return, there's an assumption that you're willing to take on a slightly greater degree of risk.

So whether you're considering an alternative to money market funds or looking to supplement these and other investments you may own with a low-risk money market account, consider Ally Bank. With an Ally Bank Money Market Account, you earn a variable rate that's consistently among the most competitive in the country according to Bankrate.com, 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 also get free standard checks and a debit card for convenient access to your money.

Learn more at Allybank.com or call live, 24/7 customer service at 877-247-ALLY (2559).

Ally Bank, member FDIC

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