Money market accounts are great for investors who need to keep money liquid for an approaching need or who like the flexibility that a money market account offers over a certificate or fixed-term account.
Money Market Features:
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Money market accounts have a minimum deposit of $1,000. Dividends are paid based on the daily balance with one rate for $1,000-$10,000 and a higher rate for over $10,000. Dividend rates are set on the tenth of each month for current month. Withdrawals must be at least $250 and may be made by telephone, in person, by check, by fax with signature, electronic mail, or in writing