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.