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You are here probably because you want to learn about Money market savings account central iowa. In this post, we shared all we know about Money market savings account central iowa. We shared this in a kind of question and answer. Now what is this Money market savings account central iowa.
What is a money market account?
Money market account sometimes referred to as money market deposit accounts or money market savings accounts is a special type of account offered by banks and credit unions.
Money market account at a bank is insured by the Federal Deposit Insurance Corporation (FDIC), while one at a credit union is insured by the National Credit Union Administration (NCUA).
You cannot withdraw money or make payments more than six times a month from a money market account by check, debit card, draft, or electronic transfer.
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However, withdrawals or payments by ATM, in person, by mail, messenger, or telephone check (where payment is made by using your checking account number and bank routing number) do not count against the six-transaction limit. Your bank or credit union may also have a minimum deposit that it requires to open a money market account.
A money market account should not be mistaken as Money market mutual fund or money market fund. The difference here is that Money market funds are offered by investment companies and others. Money market funds are not insured by the FDIC or the NCUA, which means you could possibly lose money investing in a money market fund.
The Perfect Savings Partner for our Platinum Checking Customers
The perfect savings partner for our Platinum Checking account, Platinum Money Market ensures your money grows for the future without it being too far away. The Platinum Money Market Savings from Central Bank allows you to use your higher balance to earn greater interest with tiered interest rates.
With higher tiers of interest than our regular Money Market account, Platinum Money Market turns these higher balances into greater growth in addition to providing you with the tools you need to manage your finances:
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- Variable interest, paid monthly based on the following balance tiers:
- $250,000.00 and above
- $100,000.00 – $249,999.99
- $50,000.00 – $99,999.99
- $10,000 – $49,999.99
- Up to $9,999.99
- Six (6) preauthorized debits/statement cycle
- Free ATM Card with No ATM Fees*
- Online Banking
- Bankline 24/7
- Direct Deposit
- Online Statements or monthly paper statements mailed
Additional Information About Platinum Money Market Savings
- Platinum Checking required
- $10,000 minimum deposit to open account
- $10,000 minimum balance or $25,000 average daily balance to avoid fees. If below, $15 fee/statement cycle service charge
Apply for your Platinum Money Market Savings account today using our Platinum Money Market Savings Account Application.
*ATM Card is subject to approval. If you receive an ATM surcharge, bring in or mail your original ATM receipt within 60 days and we will refund the surcharge. Excludes foreign surcharge fees.
Service charge subject to Iowa & Local Option sales tax, excluding our South Dakota locations.
Is there a deposit minimum to set up an account?
Depending on the type of savings account you sign up for, there are varying minimums. The minimum for a Platinum Money Market Savings account is $10,000.
How do I open a savings account?
You can open an account online using New Deposit Account Application or contact a Central Bank personal banker.