Money Market Rates 101

Here at Money Market Rates 101, we look at money market savings offers from all over the country.  Today, we’re looking at savings at SunTrust.

SunTrust Bank offers a number of investment options in both certificates of deposit and general saving accounts. SunTrust money market account can be opened online as the company website offers a simple procedure. They have created a new portal on their website where customers can find information on money market at SunTrust and other investment features.

There are a number of savings at SunTrust options but all shares some common features; rules and regulations are almost exactly the same. The minimum deposit balance for opening a money market account is $1,001. Minimum collected daily balance should be at least $2,500. No maintenance fee is charged if the balance requirement is met, otherwise; $15 per month are charged as a monthly fee if balance requirement is not met.

Excessive withdrawal fee of $15 is also levied on these accounts. This fee is accrued in case of more than six pre-authorized, telephone funds transfers or third party transactions during the statement period. The fee is charged at the time of withdrawal.

A checking account with the company is required for investments in money markets. The bank offers an online facilitation service where potential customers can interact with the company representatives over an internet chat system. They will also be able to open accounts through the company website; there is simply no need for any old style document based system. The bank also offers CD investments and IRA investments under its money markets program.