A Money Market account is an investment account that pays a higher market rate than traditional savings without tying your money up in a Certificate of Deposit. A Money Market account also offers multiple tiers of interest based on the amount you have in your account. The higher your balance, the better your rate.
A Money Market account has these benefits:
- FREE online banking and bill pay
- Interest compounds monthly and is paid monthly
- Check balances and transfer funds with online banking, mobile app and 24-hour telephone banking
- Up to six transactions per month
- No minimum balance fees with daily balance of $2,500
- Minimum opening deposit is only $50
