A Great Addition to Any Consumer Financial Portfolio
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Contact Us To Get StartedWhat’s a Money Market Account?
A money market account combines the benefits of both a savings and a checking account.
It is like a savings account because you can use interest rates to earn big. It is like a checking account because you can use your money freely. It does not have strict limits on spending or transfers.
Like a savings account, money market accounts offer higher interest rates. Like a checking account, money market accounts let you access your money when you need it using checks.
Advantages of a Consumer Money Market Account:
Higher interest rates. Money market accounts generally have higher interest rates than typical savings accounts. That means that you can accumulate savings faster without having to touch your money.
Federal insurance protection. The Federal Deposit Insurance Corporation (FDIC) ensures these accounts for up $250,000. Invest without worrying about losing your money. This makes money market accounts ideal for consumers that want low-risk savings opportunities.
Check writing. Enjoy check-writing capabilities when you open an account with TFNB. Unlike traditional saving accounts, you can spend the money saved in your money market account. You can also, deposit more funds into your account without penalties or other fees.
Why You Should Choose TFNB
Not all banks are equal when it comes to money market accounts. At TFNB, we offer a low minimum deposit and a low required minimum balance. We also have fewer limitations on what you can do with your money. In fact, our minimum deposit of $5,000.00 is among the lowest in the industry.
We also offer unlimited transfers and withdrawals made in person, by messenger, by mail, or at an ATM. You can also transfer money via telephone (including data transmission) agreement order or instruction to third parties.
The minimum average daily balance required in our money market accounts is $5,000.00. If the average balance drops below that amount, you incur a maintenance fee of $10.00. This is lower than many of our competitors. Otherwise, there are no fees.
Investment Account:
Similar to our money market account, with a lower entry point and tiered interest on balances exceeding $1,000. The minimum opening balance of $1,000.00 help fill the gap while still allowing you to earn interest. The minimum average daily balance required in our money market accounts is $1,000.00. If the average balance drops below that amount, you incur a maintenance fee of $10.00. This is lower than many of our competitors. Otherwise, there are no fees. Contact us today for the latest rates.
Open Your Money Market Account Today
Have questions about opening a money market account? Unsure if a money market account is right for you? We can help you make the right decision for you. Contact a TFNB banker today using the form below, or call us at (254) 840-2836.
