RateAPY

Great Money Market Account Deals

Posted by: RateAPY Bank Rates News
June 9th, 2010

The Leaders In Great Money Market Accounts

Of nearly 200 banks surveyed, the two banks who offer great returns with as little minimum balance as possible are Capital One Direct Banking and AmericaNet Bank. Check out these great deals:

• Capital One Direct Banking, where you can earn 1.29% (1.30% APY), tops the list of “no minimum balance required” money market accounts.
• AmericaNet Bank has a money market account paying 2.00% APY with a minimum balance of only $1 and a maximum balance of $35,000.

For either of these money markets, higher yields can be found with higher minimum balances. For comparison, investigate other banks’ rates for money market accounts.

Why Money Market Accounts Are A Good Choice

Even with limitations on the number of withdrawals you can make, money market accounts are a nice hybrid between a traditional savings account and a traditional checking account. While you are usually limited to about six withdrawals, they can conveniently be made by check or even a Visa debit transaction, so you can earn a high return and still have access to your money.