What Is Money Market Account And What Do I Need For It?

By Author: fsbwc
Total Articles: 3
Comment this article

A money market account is typically a savings deposit account in the banks and credit unions sector. The high-rated money market accounts can pay a higher interest rate compared to traditional savings accounts, but their minimum deposit and balance requirements can also be higher.

Opening a money market account is easy but you should have to choose a good bank and account because some money market accounts do not a minimum opening balance requirement. You will need these things with you to open your money market account

• You should have your photo identification card issued by government with you
• Always be prepared to lift a security freeze for your credit file to open the account if needed
• Keep your routing and account number for the account you’re using to fund into this new account
• Also have your social security number available with you

You may also need cash or a check to fund a new account opened in the branch.

First State Bank is offering good money market rates in Iowa with less interest rate. We also offer home mortgage loans, business loans, agricultural loans and more. Contact us now! https://www.fsbwc.com/