Money Market Rates 101

Bank of America is one of the largest online banks.  Like most banks, Bank of America has a money market account that you should take a look at.  Hopefully, this review of the Bank of America money market savings account.

The Bank of America Balance Rewards money market account provides the flexibility provided by a B of A checking account and the higher interest of a savings account.  BoA has designed its money market savings account to give you higher interest rate savings, quick access to your savings, and an added cash bonus that will helps you build your savings quicker.

One of the best aspects about the Bank of America savings account is its check writing feature.  B of A allows you to write up to three checks per month.  While you can’t use this money market account as your primary checking account, it is nice to know that you can write checks with this account.  While you can only write three checks per monthly billing cycle, Bank f America allows unlimited withdrawals and transfers.

One of the coolest features of the Bank of America account is the Balance Rewards program.  The Balance Rewards program gives you an annual cash bonus at the end of the year.  This bonus payment is calculated by multiplying your lower average monthly balance in your money market account by the bank of america bonus factor.  The current bonus factor is 0.50.

The Bank of America money market rates are not the best money market rates, but they are worth considering.  Bank of America provides a lot of other nice features that make their interest rates acceptable.

I hope that you have enjoyed this Bank of America money market savings account review.  If you have any questions not answered in this review, please ask a question in the comments.  Additionally, we would love to hear your review of the Bank of America money market account or the Balance rewards program.