Money market accounts may not be as well-known as traditional savings and checking accounts. But many personal finance experts consider opening a money market account an integral part of a smart financial plan. Money market accounts are bank accounts that usually pay interest rates comparable to the rates of paid by savings accounts.
The difference between money market accounts and savings accounts. Money market accounts generally offer more flexible access to your money. You usually can withdraw your funds with checks, debit cards, electronic transfers and ATMs as long as you stay within federal transaction limits.
By combining some of the features of savings and checking accounts, money market accounts are among the most convenient bank accounts you can find. And if you open an account in an FDIC-member bank such as Ally Bank, your deposits are insured up to the maximum allowed by law.
Opening a money market account is easy. You can open your Ally Bank Money Market Account right from your home computer, tablet or even phone. With an Ally Bank Money Market Account, you won’t pay monthly maintenance fees. 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 get free standard checks and a debit card for convenient access to your money. You can use any Allpoint no-fee ATM—plus receive up to $10 reimbursement for fees charged at other ATMs nationwide each statement cycle.
Learn how Ally Bank can help you make smart choices with your money. Visit Allybank.com or call live, 24/7 customer care at 877-247-ALLY (2559) today.
Ally Bank, member FDIC