Money Market Rates 101

The current Wells Fargo Money Market rates come from a bank with over 150 years in the business. The image of the six-horse gold-laden stagecoach thundering across the American West will forever be linked with this institution.

Opening a Wells Fargo Money Market Savings online is quick and easy if you want competitive rates and easy access to your money with the option to write checks. Of course, this is limited to six transfers per statement period with a maximum of three withdrawals by check, draft, POS, or similar order. Fees will apply if you go over these limits. The minimum opening deposit is $100. To fund your account online, you can transfer the fund from an existing Wells Fargo account, by credit card, or by check or money order by mail or in person. You can also transfer from a non-Wells Fargo account by providing your account number and the nine-digit routing number found on your checking or deposit slip. There are no monthly fees to pay if you maintain a $3,500 minimum balance or if you set up a $75 automatic monthly transfer from another Wells Fargo account. Otherwise, the monthly fee will be $10. You can also enjoy additional benefits which include online banking, mobile banking, and account alerts among other things.

For balances of $0 or more, the APY is 0.05%. However, Wells Fargo is offering a bonus APY of 0.15% on its Money Market Savings account if you maintain a linked PMA Prime Checking account, Wells Fargo Complete Advantage Checking account, Wells Fargo Premium Membership Checking account, or Wells Fargo Custom Management Checking account.

 Visit the Wells Fargo website for more details on their Money market accounts.

The Wells Fargo Money Market rates are valid from 1/09/2010 to 1/15/2010 and are subject to change without prior notice.

Take a look at Georgia Primary Bank Money Market Rates when thinking of planning ahead and saving up for your children’s education. Georgia Primary Bank was formed by a diverse group of business and civic leaders in the Atlanta market to serve the financial needs of businesses and individuals in this area. Enjoy check writing ability while earning a competitive money market rate.

The personal money market rates of Georgia Primary Bank are as follows. For a minimum balance of $0 to $9,999.99, the interest rate is 1.637% with an APY of 1.650%. For a minimum balance of $10,000 to $24,999.99, the interest rate is also 1.637% with an APY of 1.650%. For a minimum balance of $25,000 to $49,999.99, the interest rate is 1.833% with an APY of 1.850%. For a minimum balance of $50,000 to $99,999.99, the interest rate is 2.127% with an APY of 2.150%. For a minimum balance of $100,000.00 and up, the interest rate is 2.469% with an APY of 2.500%.

The commercial money market rates are as follows. For a minimum balance of $0 to $9,999.99, the interest rate is 1.242% with an APY of 1.250%. For a minimum balance of $10,000 to $$24,999.99, the interest rate is 1.242% with an APY of 1.250%. For a minimum balance of $25,000 to $49,999.99, the interest rate is 1.489% with an APY of 1.500%. For a minimum balance of $50,000 to $99,999.99, the interest rate is 1.735% with an APY of 1.750%. For a minimum balance of $100,000.00 and up, the interest rate is 1.980% with an APY of 2.00%.

Fees may reduce earning on these money market accounts and rates may change after the account is opened.

These Georgia Primary Bank Money Market rates are accurate as of 01/04/2010.

Financial market did not see a rebound in 2009 and investors are pinning their hopes on 2010. Wall Street was able to avoid a major disaster at the start of the year but banks were unable to show solid earnings. Money market rates depend on the global economic situation and performance of banks. Donald Jay Korn writes in his review that American financial industry will continue depending on good news from the Wall Street.

Money Market 2010 Outlook is generally positive. Housing market has shown improvements in 2009 and investors will closely watch the trends in 2010. Investors saw a growing interest in the technology sector and equities related to Information Technology business saw major profits. Trends will remain the same in 2010 as investors have eyed the technology business as the major revenue of profits. Innovation and up gradation of current technologies and new engineering solutions will upend this investment.

Another avenue of American economy that holds promise is the retail sector. Increased consumer spending is expected in 2010 especially in gadgets and other technology items. Health sector is showing significant growth and investors have started taking this sector seriously. Donald Jay Korn estimates that healthcare legislation had a strong impact on the health sector stocks and there will be more investments in 2010.

High yield market is appealing according to Donald’s review. He thinks that investors are ready to take this risk. Tax-exempt bonds are another promising avenue of investment. Donald opines that a diversification of economy and solid global performance of commodities can turn things around.

This Bank of America 1.50% Money Market rates are no longer advertised as available in the Pennsylvania and Delaware areas on the home site of Bank of America. The reason may be because the Bank of America is a nationwide financial institution and has different rates in different parts of the country for some of their accounts. The 1.50% on Money Market Accounts was a promotional offer that is about to expire. For those investors that took advantage of this promotional rate, it is still valid but will expire on January 4, 2010. The highest current advertised rate is the bonus APY of 0.95% for accounts over $250,000. For accounts under $10,000 the bonus APY is 0.40%.

There are other financial institutions that are offering money market accounts at 1.50% APY or above. EverBank has a rate of 1.51% APY with a minimum deposit of $1,500. This rate was posted on December 24, 2009. Geddes Federal Savings and Loan Association has an APY of 2.01% and an interest rate of 1.99% with a deposit of $50,000. AmericaNet Bank is the best offer for those with limited funds. They have an APY of 2.00% with a minimum deposit of $1.00. This is their Mega Money Market Checking account and is valid for balances under $35,000. This rate was posted on December 29, 2009.

For those with the Bank of America 1.50% Money Market rates, the account will be changed to a Growth Money Market Account and your rate will be lowered on January 4, 2010 to 0.35% for balances between $10,000 and $24,999.99.

The money market rates 2010 outlook should be more of the same as 2009 was. With a weak economy, the Federal Reserve will be keeping the interest rates low to inspire growth through financial loans. This will require the financial sector to start issuing more loans which they have been reluctant to do.

The global outlook has some economist predicting a 4% growth in domestic GMP while developing economies could reach up to 6.5%. This type of growth will need the manufacturing sectors to expand. This will require loans. The faster the banking system loosens up their restrictions on loans, the faster the economy will move. This will bring inflation and higher interest rates from the Fed to keep it in control.

This is when investors and people trying to save for the future will see an increase in their money market rates. It will all start with the banks making loans.  Some economists are only predicting a 2% GMP rise in the G10 countries. This will slow any type of recovery and help keep inflation and interest rates low.

Unfortunately, the rates of return on savings account are at the mercy of the economy and the financial sector. The Federal Reserve has done its part by lowering the interest rate to 0 and 0.25%. There is nothing else they can do to stimulate the economy. What is holding it back at present is the banking institution not making loans for expansion in the manufacturing sector.

Most believe this will change mid 2010 and the economy will start to grow more rapidly. It will be a long bumpy and boring road to recovery, but it will occur. This is when the money market rates 2010 outlook will begin to improve with higher rates.

With the AmericaNet Bank Money Market Rates above the national norm, I felt compelled to write about them. AmericaNet Bank is a branch of the All America Bank out of Oklahoma. This financial institution has been operating since 1969 and is FDIC insured.

The Mega Money market account is essentially a free checking account with limitations. There is no minimum balance, but any balance that is maintained receives 2.00% APY.  The monthly statements are issued electronically to be environmentally conscious.

This account offers a free AmericaNet Bank Visa checkcard. There is no monthly maintenance or service fee. Access to online banking and all of its features are free of charge. All customer service features are free of charge and there is no minimum balance needed to keep the account open.

The 2.00% APY is calculated on a daily basis on the current balance that is under $35,000. Amounts over $35,000 earn an APY of 1.00%. Under federal regulations of a money market account only 6 withdraws a month are permitted to be free.  Any withdraws over this limit are charged $5 per transaction.

To open a Money Market Accounts all one has to do is apply online. There is nothing that has to be mailed in or faxed.

Why this is advertised as a checking account is beyond me. The 2.00% APY is attractive and a good deal but I have more than 6 bills a month that have to be paid. This is essentially a very good savings account. The limited withdraws will help the account holder save their money.

The AmericaNet Bank Money Market Rates are amongst the best in the nation at the moment.

The New Century Bank Money Market Rates are competitive and come from a solid financial institution. In 1997, this financial institution opened for business in Phoenixville. Since that time, they have added branches that now reach Chester and Delaware counties. This bank has $250 million in assets and over 25,000 open accounts on the books.

The Money Market Accounts earn 2.00% APY with an associated Platinum Checking account. The requirements are a minimum deposit of $50 to open and a minimum balance of $1000 to avoid the monthly maintenance fee. Every month, the interest this account earns is credited to the balance. The transfers for your money market account to another account or to a third party are limed by federal regulations at 6 per statement cycle.

The rate of 2.00% APY is effective thru 5/31/2010. If a Platinum checking account is not opened or associated with this money market account, then the APY will be at a rate of 1.60% until 5/31/2010. There is then a minimum deposit of $1000 to acquire any interest on this account.

If a minimum balance is not kept for the entire month, the maintenance charge is $5.00 per month.

The rate of 2.00% APY is current but subject to change without notice. The current rate was posted on 12/21/09 and is still current and valid.

Join the other 25,000 account holders in trusting New Century Bank. Money market rates are above the national average at this time.

How to choose the right money market account depends on what you need and are looking for. With this type of account, things are not always what they appear to be. Most investors and people saving money would think that the highest interest rate would bring the most for their money. Be aware of the fees that are associated with this type of account.

Many banks and financial institutions offer interest rates higher than traditional savings accounts but take on a monthly maintenance fee. In many cases, this fee amount is equal to or greater than the interest that would be paid out on the balance. This will be translated to either no interest being paid or a loss of your initial deposit if the balance is not high enough to pay for the maintenance. These fees range from $0.00 to $20.00 a month or statement cycle.

The deposits in a money market account are one of the safest investments available to investors. The FDIC insures these deposits up to and including $250,000 at the present time. This type of investment is a low risk but also has a low return.

There are federal restrictions on all money market accounts. One of these is that there is only 6 withdrawals allowed per statement cycle or else a penalty will occur. If there is a chance you will need to make more, then look at the price of the penalty. This price does vary from the different financial institutions.

The current money market rates vary from 1.70% APY at Colorado Federal Savings Bank to numerous ones with an APY of 0.10%. Knowing how to choose the right money market account will be determined on how you plan to use the money.

The current TD Bank Money Market rates are on a tiered system that is dependent on your current balance within your money market account. The tier rates are as follows.

For a balance of $0.01 to $999.99, the APY is 0.10%. For a balance of $1,000 to $9,999.99, the APY is 0.10%. For a balance of $10,000 to $24,999.99, the APY is 0.25%. For a balance of $25,000 to $49,999.99, the APY is 0.50%. For a balance of $50,000 to $99,999.99, the APY is 0.50%. For a balance of $100,000 to $249,999.99, the APY is 0.60%. For a balance of $250,000 to $499,999.99, the APY is 0.60%. For a balance of $500,000 to $999,999.99, the APY is 0.60%. For a balance over $1,000,000, the APY is 0.60%.

There is no minimum amount needed to open a money market account, but unless there is a deposit no interest will be acquired. If a $1000 balance is maintained, then the $12 monthly maintenance fee is waived. This maintenance fee is also waived if the account holder is over the age of 62.

These APY Money Market rates were posted on the TD Bank home web site on 12/08/09 and were still accurate as of 12/10/09 for the state of Pennsylvania. These rates are subject to change without notice before or after an account is opened.

Account holders are allowed to write up to 3 checks a month and enjoy free bill paying as an online banking option. These are the TD Bank Money Market rates that are FDIC insured.

Today, we’re going to diverge a little from our usual subject here at <a href=”http://moneymarketrates101.com“>Money Market Rates 101</a> and look at a different bank, Capital One.

Richmond, VA-based Capital One Financial Corp. is a premier financial institution in the Mid-Atlantic region of the United States. The company has fared better over the years despite the fact that banking sector is still in a financial quagmire. The company offers many direct banking features including its basic online account. Mortgage, loans and other features are also offered by the company.

Under this account, customers are offered an APY of 1.60% for an investment of $2,500. There is also a chance of winning 10% quarterly bonuses on interest earned if the average balance exceeds or equals $15,000

Apart from basic accounts, Capital One money market also has other options for its customers. A high yield market account offers an APY of 1.20% with general banking features included in the package. Customers can use free checks, ATMs and online transfers, among other services.

Capital One interest rates are higher than market average and sometimes as high as three times the national average. The lowest interest rates are accrued on the company’s Business Money and Business Money market accounts; they are 1.10% APY and 1.01% APY, respectively. These rates are subject to change in case of market fluctuations and other factors.

Certificates of Deposit, on the other hand, yield 3.00% APY for a 4-year term. The bank would pay 2.00% APY on a 2-year term certificate. No monthly fees are charged on these accounts. An average interest rate on these CDs would be 0.5% for 1-year term with the APY in the same range.