Money Market Rates 101

Money market funds are very different from money market savings accounts in many ways and are usually a base investment type for hedging funds until a better opportunity for long term investment comes up.  Since there is a difference, we here at Money Market Rates 101 thought we should go over them for you so you can know your options regarding Vanguard money market funds.

Vanguard is an investment firm that offers money market funds for various uses.  Vanguard money market funds are used for stable interest income, convenient money access (there are no terms with money markets), short-term savings, and of course to park cash while awaiting other investment opportunities with Vanguard funds or any other investment bank.

Several options make Vanguard money market investments even more useful for the investor in Vanguard funds.  Scheduled regular automatic investments can be made from money market at Vanguard into other investments (and back again) to increase the return of the money market funds.  Fast electronic money movement from one Vanguard funds account to another can be made, allowing for quick reactions to investment opportunities.

It’s important to note that the investments that make up the interest rate that money market funds receive are always as stable as possible, which means lower returns than other, riskier investments.  These types of money market funds are also not insurable by the FDIC as they are not bank accounts, but investment accounts.  Vanguard funds are mostly invested in Treasury bonds and other stable assets.

So if you’re an investor, especially with an established firm like Vanguard, then check into money market funds available to you through Vanguard money market and see how they can help you round out your investment portfolio.

Everbank specializes in secure investment-style banking and interest yields. Right now, they’re offering a pledge that money market rates at Everbank will be among the top five in the nation. So obviously we here at Money Market Rates 101 had to give them a look and let you know what those Everbank money market rates are up to.

Currently, Everbank rates for money market accounts have two requirements: either a deposit amount higher than $50,000 for a higher rate and a 3-month bonus rate.

Money market rates at Everbank start at 2.16% annual percentage yield (APY) right now for deposits over the minimum $1,500 to open, but under $50,000. Since these rates are guaranteed to stay in the top five nationally, they will be high for some time, we would think.

For deposits over $50,000 at opening (and held for the first 3 months), a bonus rate of 2.51% APY is paid for three months. That’s a pretty good bonus, we think you’ll agree.

On both Everbank rates money market accounts, there is Internet banking as well as mobile phone access free of charge. Up to six withdrawals or transfers may be conducted per month to hold your money market rates at Everbank and there is no monthly account fee if your balance stays above $1,500.

Everbank money market rates are definitely worth a look and we think you’ll be glad you did. Rates change regularly with the market, of course, so be sure to look at money market rates at Everbank before you open your account. All accounts at Everbank are FDIC insured.

Recently on CSPAN, Rep. Paul Kanjorski (D-PA) discussed the reasons for the bank bailout in September.  The CSPAN video below is amazing.  Representative Kanjorski states that on September 18, 2008 there was widespread panic among money market account holders.  Within hours over $550 billion was withdrawn from moeny market funds across the nation.  While the Federal Government spent over $105 billion to try to stop the run on the money market accounts, it quickly realized that it could not prevent the run.  Therefore, the Federal Government temporarily closed down the money market accounts.

According to Rep. Kanjorski, this would have been “the end of our economic/political system as we know it.”  That is a really bold statement.  Quickly the Federal Government agreed to cover money market accounts under the FDIC insurance program and raised the FDIC limits to $250,000.

You absolutely need to watch this video.  There are many amazing statements made by Rep. Kanjorski.

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.

The VirtualBank eMoney Market Account is one of the most popular banking products available at VirtualBank.  Here at money market rates 101 we try to bring you the latest information on the best money market rates.  Consistent with this goal, we bring you this review of the VirtualBank eMoney Market Account.

This VirtualBank money market account starts with an interest rate of 2.50% and an APY of 2.53%.  You can qualify for this 2.50% money market rate by opening a Virtual Bank money market account with as little as $100.  This $100 minimum balance is a very low amount that should allow anyone to open a money market account.

This VirtualBank account has no monthly fees and is FDIC insured.  With today’s uncertainty in the financial markets, opening a money market account that is FDIC insured is very important.  Unlike money market funds, money market accounts add extra protection for your money.  If the fianancial institution fails, your money is protected by FDIC insurance.

The VirtualBank money market rates go up to 3.75% if you invest over $100,000 in the VirtualBank account.  While many do not have $100,000 to invest, if you do, this 3.75% interest rate is one of the best money market rates. You should check out the VirtualBank money market account.

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If you are looking for the best money market rates, the Union Federal Savings Bank money market account is offering some of the highest interest rates on money market accounts in the country.  The Union Federal Savings bank money market account is currently paying 3.75% interest rates with only a $1 minimum balance requirement.

For only have a minimum balanace requirement of $1, it is hard to beat the Union Federal money market account.  These Union Federal accounts are FDIC insured and they boast that they do not charge any hidden fees.  These specs might qualify this as the best money market rates we have found today.

Union Federal was established in 2001 in in North Providence, Rhode Island. It is dedicated to providing its customers with the highest interest rates for people trying to save money and competitive loan rates for borrowers.  While you might not have heard of the Union Federal Savings Bank money market account, you should check it out.

If you are a Wachovia bank customer or just someone looking for the best money market rates, you need to read this review of the Wachovia Money Market account.  Wachovia bank is the forth largest bank in the United States.  With offices all over the United States and the great Wachovia online banking website, opening a Wachovia money market account might be a great choice for anyone looking for a place to save money.

Unlike many smaller banks, Wachovia provides a full range of financial products and services.  Wachovia locations are found in the following states, Alabama, Arizona, California, Colorado, Connecticut, Delaware, Washington D.C. Florida, Georgia, Illinois, Kansas, Maryland, Mississippi, Nevada, New Jersey, New York, North Carolina, Pennsylvania, South Carolina, Tennessee, Texas, Virginia.  In addition to being a great bank, Wachovia retail brokerage services are also found throughout the United States through Wachovia Securities LLC.  This diversity of finance products, makes Wachovia a great bank for anyone looking for one place to do all of the banking.

Wachovia Money Market Rates:

The Wachoiva money market rates are very competitive with other similarly situated full service banks.  While the rates may not be the best money market rates, given the other benefits of banking with Wachovia, we thought that we should still review their money market rates.

Wachovia Money Market Account Features:

These Wachovia money market accounts are FDIC insured.  This insurance should give you some peace of mind that the money that you invest into these accounts will not be lost.  FDIC insurance makes these accounts very safe investments.

In addition to the FDIC insurance and high money market rates, the Wachovia money market accounts also give you access to the Wachovia online banking website.  Wachovia has one of the best online banking websites.  It allows you to monitor your savings accounts, money market accounts and any other Wachovia investments you might have.

I hope that this review of the Wachovia money market account was informative.  If you have any questions, please leave them in the comments below.

As with all Vanguard accounts, the best thing about Vanguard Money Market accounts is the low costs. Vanguard prides itself on keeping costs low so that its investors keep more of their money. This article will review the Vanguard Money Market accounts.

Vanguard money market funds make great savings accounts. The high money market rates offered by Vanguard make them competitive with high interest savings accounts. One of the best things about the these Vanguard accounts are that in addition to getting the best money market rates, you enjoy low costs and check writing privileges too.

Who should open a Vanguard Money Market Account:

Vanguard money market fund accounts are appropriate for investors who:

• People who are looking for a relatively low risk place to save money.
• Are seeking interest income at a rate that may be more competitive than a bank account.
• Would like convenient, free checkwriting. (Checks must be for $250 or more.)
• Will need access to their money in the near future.
• Take a very conservative approach to investment risk.

Vanguard money market funds come in two varieties: vanguard taxable money market funds and vanguard tax-exempt money market funds. If you are a taxpayer in high marginal tax brackets, you might benefit from putting your money into a tax-exempt fund. No matter which option you choose, unlike many money market accounts offered by banks, money market funds are not FDIC insured.

Types of Vanguard Money Market Funds:

Whether you are an individual or a business owner, chances are that Vanguard has a money market account that will suit your investing needs.

• Individual Accounts.
• Joint Accounts
• Uniform Gifts/Transfers to Minors Act (UGMA/UTMA)
• Trust
• Attorney-in-fact
• Custodial account for a minor
• Organization

These vanguard Money Market accounts will be explored in further detail here on Money Market Rates 101.  If you have any questions about these Vanguard money market funds, please ask in the comments below.  These Vanguard accounts have some of the best money market rates, so go check them out.

The Flagstar Bank Money Market Account offers some of the best money market rates in the United States.  If you are looking for a high interest money market account, you will like the the Flagstar money market rates.  This article will review Flagstar Bank, the Flagstar Money Market Account, and the other Flagstar accounts.

Who is Flagstar Bank?

Flagstar Bank is a Michigan bank with its main office in Troy, Michigan.  This is one of the fastest growing banks in Michigan with over 165 flagstar bank locations.  These bank locations are in Michigan, Florida and Georgia.

Flagstar Bank began in 1987.  It is set up as a federal savings bank.  Flagstar has about $16 billion in assets.  Flagstar focuses on consumer accounts and business accounts.  In addition to the Flagstar money market account, it offers automobile loans, boat loans, home mortgages and equity lines of credit.  The Flagstar equity lines are great for home loans used to fix up your home.  In fact, they are a leader in home loans.

Flagstar Bank Money Market Accounts:

Flagstar has some of the best money market rates being offered right now.  They always pride themselves on their competitive rates.  In addition to the great money market rates, Flagstar only requires that you deposit $1 to open an accounts.  This makes this one of the best money market accounts for new investors.  If you don’t have a lot of money, it can be difficult to open a money market account.  However, Flagstar has removed this barrier to entry.

With flagstar bank offering free checking and no minimum balance, you have to visit the Flagstar website to check out its current money market rates.  As of this article, the Flagstar money market rates are from 2.40% to 2.90%.  The 2.90% money market rates are for balances over $100,000.

The Flagstar Express Money Market account combines checking writing of a checking account and interest rates like high interest savings accounts.  Flagstar online banking also has a great website.  They offer online banking with free online billpay, fund transfers and account monitoring.  Flagstar also provides you with a Flagstar Visa debit card that you can use to make purchase out of your money market accounts.

Flagstar Customer Service:

While this money market account is only online, at its heart Flagstar is still a community bank.  This community feeling is said to follow it online with great customer service and support.

If you are looking for the best money market rates, you need to check out the Flagstar Bank money market account.