Rewards Money Market Savings Account from Bank of America

A money market account is a type of savings account in which the bank invests your funds in a series of short-term, highly liquid and very safe financial instruments, such as U. Treasury bills T-billsmunicipal notes and certificates of deposit CDs. Most money market accounts pay higher interest rates than standard savings accounts but offer the same level of safety.

Money market accounts are viable investment vehicles for those who need to access their money in the near future but wish to earn at least a little interest on it in the meantime. For example, a person planning to buy a house in six months might take his down payment money out of the stock market and place it in a money market account. This way, his principal is protected and he still earns something on it.

For investors shopping for a money market account, the SunTrust Signature Money Market Savings Account, offered by SunTrust Banks, Inc. STIis one to consider. It offers low fees for investors with high balances or regular monthly transfers. SunTrust maintains a solid reputation for customer service and has many physical branch locations, particularly in the Southeast region of the country.

On the downside, this money market account pays lower interest than several comparable accounts from online banks, and its fees add up quickly for investors with low balances.

Perhaps the biggest advantage of the SunTrust Signature Money Market Savings Account is that it is offered by a reputable bank that maintains a strong physical presence in many parts of the country.

SunTrust has a solid reputation with its customers, including an A-plus rating with the Better Business Bureau BBB. As ofthe bank maintained nearly 1, branches.

Since it is very rare to hold more than this amount in a money market account, the entirety of a basic terminology about binary options terms you must to know investment should be protected in the highly unlikely event ato tax on overseas earnings a bank failure.

As money market savings account suntrust Aprilthe account paid 0. The highest interest rate offered on a SunTrust Signature Money Market Savings Money market savings account suntrust as of April is 0. In effect, customers give up some yield for the convenience and reliability of a reputable brick-and-mortar bank.

Strictly online bankssuch as Ally Financial NYSE: Fees represent another disadvantage of the SunTrust money market account.

The SunTrust Signature Money Market Savings Account is ideal for customers who prefer to conduct business with a longstanding, reputable bank that offers physical branch locations, and are willing to pay a little more to do so. Those more concerned with receiving the highest yield possible and who do not mind conducting business entirely online may find a better fit with an online bank.

Dictionary Term Of The Day. A measure of what it costs an investment company to operate a mutual fund.

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Is the SunTrust Money Market Account Worth It?

STI By Greg DePersio May 4, — 2: SunTrust Signature Money Market Savings Account Advantages Perhaps the biggest advantage of the SunTrust Signature Money Market Savings Account is that it is offered by a reputable bank that maintains a forex asiaone physical presence in many parts of the country.

SunTrust Signature Money Market Savings Account Disadvantages The highest interest rate offered on a SunTrust Signature Money Market Savings Account as of April is 0. Final Thoughts The SunTrust Signature Money Market Savings Account is ideal for customers who prefer to conduct business with a longstanding, reputable bank that offers physical branch locations, and are willing to pay a little more to do so.

SunTrust shares are now even more attractive to investors willing to ride out the market volatility and swim toward safety. Curious about the best saving accounts and which ones suit investors? A deposit account held at a bank or other financial institution that provides principal security and a modest interest rate. Is this the savings route for you?

Read on to find out what these accounts have to offer. Money market savings accounts can offer higher interest rates than regular or even high-yield bank savings accounts — and perks like these. You know how to spot the highest interest rate, but how do you really get the best deal on savings accounts?

Find out about some of the most profitable available alternatives to depositing money in a traditional bank passbook savings account. Read about the differences between money market accounts and savings accounts, and see why a depositor would elect a money Discover the differences between money market accounts and money market funds, including minimum balance requirements, withdrawal Learn the difference between a money market account and a money market fund.

Both savings vehicles are relatively safe, but Placing funds in a money market account may provide a higher interest rate than a savings account due to the underlying securities Understand the characteristics that distinguish money market accounts from checking, savings account and money market funds No thanks, I prefer not making money.

Top 50 Money Market Rates & High Interest Savings Accounts

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