Rates Current as of Wednesday February 08, 2012

« How do I avoid the ATM charges when I am only taking out a small amount money?

If money market mutual funds allow easy access to my funds and are relatively safe, what are the risks involved in placing my short-term savings in these accounts? »

Why would someone put his or her money into a money market mutual fund?

A money market mutual fund pays a comparatively high yield for a very secure investment. Money market mutual funds are ranked just slightly higher than FDIC insured bank products on overall risk factors and money market mutual funds usually pay a slighter yield than bank products. Money market mutual funds often give the customer limited check writing privileges that offers easy access to their funds. For these reasons, money market mutual funds are one valuable resource for holding short term assets for an emergency fund or for preplanned large expenditures or as a safe heaven during times of investment uncertainty.

This entry was posted on Saturday, October 11th, 2008 at 9:15 pm and is filed under FAQs. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

No user commented in " Why would someone put his or her money into a money market mutual fund? "

Follow-up comment rss or Leave a Trackback

Leave A Reply

Similiar Content You Might Enjoy

Percentage a borrower pays for the use of money, usually expressed as an annual percentage

Best CD Interest Rates August 29, 2011

CD interest rates were, by and large, unchanged for the week. The best short term CD rates increased in yields slightly while long term CD rates moved lower. Overall, the average rate for the top ten best CD interest rates remained in check. The Selectcdrates.com composite CD rate which measures the top ten highest CD

Kentucky CD Rates Victory Community Bank

Victory Community Bank, established in 2002, is a full service neighborhood bank. The bank is headquartered in Ft. Mitchell, KY. Victory Community Bank has three bank branch locations serving the surrounding area. Victory Community Bank has been FDIC insured since December 9, 2002. Victory Community Bank is chartered as a Savings Association. Therefore the primary

Level One Bank was established on October 5, 2007 and is based in Farmington Hills, Michigan. Level One Bank operates as a subsidiary of Level One Bancorp, Inc. The bank has been FDIC insured since October 5, 2007. Level One Bank is chartered as a Federal Reserve Non-member. Therefore the primary regulator is the Federal

American Plus Bank, CA

American Plus Bank is a Chinese American community bank established in 2007. The bank is headquartered in Arcadia, California. American Plus Bank, N.A. has been FDIC insured since August 8, 2007. American Plus Bank, N.A. is chartered as a National Bank. Therefore the primary regulator is the Office of the Comptroller of the Currency (OCC). At

A deposit in a customer’s name that can be withdrawn, such as a checking account, savings account, or certificate of deposit account. Also used to refer to loan accounts such as a credit card account, mortgage loan account, etc.

CD Rates and Mortgage Rates Update September 26, 2011

Bank lending rates made significant improvements for the week ending September 23, 2011. Significant improvement for lending rates translates into lower mortgage rates, credit card rates and auto loan rates. Sadly, when there are improvements in lending rates there are generally losses in other rates or lower bank CD rates and saving account rates. And

Do You Need Short-Term Savings?

Do you need short-term savings? Yes, you most certainly do. And it’s likely you need far more than you have stashed away somewhere. Short-term savings is more than the few hundred you stick in a statement savings account at your local bank to cover next year’s Christmas presents. True short-term savings

The Federal Reserve

The Federal Reserve System is the central bank of the United States. The Fed was created by an act of Congress in 1913. The basis of this creation was to create a government entity directed with the responsibility to foster a sound banking system and a healthy economy. The Federal Reserve System

Interest Rate Risk

The possibility that a bond’s or bond mutual fund’s value will decrease due to rising interest rates.

How should I respond if I receive an unsolicited bank offer over the phone and they asked for personal information to open an account and I had not previously inquired about opening an account?

Never provide any personal or financial information in response to an e-mail or telephone call. If you have done so, consider closing any accounts that may be at risk. You may also want to contact one of the three major credit bureaus to fraud alert notification on your reports.

To collect the principal and interest on a certificate of deposit, bond, or other investment. Or to cash in mutual fund shares by selling them back to the fund. Mutual fund shares may be redeemed on any business day. You will receive the current share price, called net asset value, minus any deferred

Old Point Bank Rates

The Old Point National Bank is a full service community bank located in Virginia. Old Point National Bank has been FDIC insured since January 1, 1934. The bank has 20 banking locations throughout Hampton Roads. For the non-Virginians, Hampton Roads is the name of both a body of water and the area of land that

Avoid Minimum Balance Fees in Checking Accounts, Savings Accounts and Money Markets

One of the most overlooked charges by banks that extract money from your checking account, savings account or money market account is minimum balance fees. If you are a banking customer that frequently takes your account balance to a bare minimum be sure to you are not in a bank account that charges for low minimum balances.

Does the Federal Reserve control or set the prime rate?

No. The prime rate is a benchmark rate used by institutions for pricing business and other credit. Banks set their own rates based on the demand for various kinds of loans, on the cost of money to the banks, and on the administrative costs of making loans. Each bank in accord with other rates

Money Multiplier

The relationship between the monetary base and the money supply. The multiplier explains the money supply has expanded through the banking system by distribution of excess reserves.

Can the bank change the terms of a business checking account?

Generally, a national bank can change the terms of a business checking account as long as the bank notifies account holders at least 30 days before implementing a change to the bank’s availability policy. Exception: Any change that expedites (speeds up) the availability of funds, a positive impact for the consumer, may be disclosed

A financial instrument held by a third party on behalf of the other two parties in a transaction. The funds are held by the escrow service until it receives the appropriate written or oral instructions-or until obligations have been fulfilled. Securities, funds, and other assets can be held in escrow.

A bank employee who handles the funds transactions in the bank such as deposits and withdrawals for the bank customers.

Money Market Fund Resources and Government Regulatory Agencies

Federal Citizen Information Center Produces Federal publications on finance Dept. WWW Pueblo, CO 81009 888/878-3256 www.pueblo.gsa.gov/money.htm Federal Trade Commission 600 Pennsylvania Avenue, NW Washington, DC 20580 202/326-2222 www.ftc.gov Internal Revenue Service 1111 Constitution Avenue, NW Washington, DC 20224 800/829-1040 www.irs.gov Employee Benefits Security Administration U.S. Department of Labor 200 Constitution Avenue, NW Washington, DC 20210 866/463-3278 www.dol.gov/ebsa/ Securities and Exchange Commission Office of Investor Education and Assistance 100 F Street, NE Washington, DC 20549 800/SEC-0330 www.sec.gov/investor.shtml Social Security Administration 6401 Security Boulevard Baltimore, MD 21235 800/772-1213 www.ssa.gov Alliance

CD Rate Updates

CD Interest Rates Mildly Lower January 30, 2012

In the most recent survey of bank CD rates conducted by Selectcdrates.com, CD rates slumped slightly compounding last week’s similar dip. The average yield on the Selectcdrates.com CD rate index moved down to 1.081 percent from an average rate of 1.087 percent found in the previous rate survey. The Selectcdrates.com index covers the top ten [...]

CD Interest Rates Hold Steady January 23, 2012

CD rates remained relatively stable in the most recent survey of the top national CD rates. The average CD rate, as measured by the rates on the best three month, six month, one year, two year and five year CD rates, was unchanged from the previous week. The Selectcdrates.com weekly CD rate survey showed the [...]

CD Interest Rates Display Little Change January 16, 2012

The best CD interest rates available were little changed over the past week. Based on the most recent survey of bank CD rates performed by Selectcdrates.com, the average CD rate gave up less than one basis point or 1/100th of a percent week over week. The average CD rate on the highest three month CDs, [...]

Banking & CD FAQs

Why are there penalties for withdrawing funds from your certificate of deposit before the maturity date?

Certificates of deposit generally pay a higher rate of interest than similar type bank accounts. They pay a higher rate because they have a fixed maturity date that for the most part guarantees the bank has the ability to use these funds for investment and lending activities. One way the bank can make

What is the Annual Percentage Yield (APY)?

Annual percentage yield (APY) is the yield you earn on a deposit over the course of a year; it is a standardized way of comparing investments. The APY is important because it takes into account the assumed compounding of your interest. Compounding is simply a method of making earnings on your earnings.

What is overdraft protection?

Overdraft protection is an agreement with the bank or financial institution to cover overdrafts on a checking account. This service will typically involve a fee and be limited to a preset maximum amount.

What do I do if my bank statement shows an incorrect amount for an ATM withdrawal?

Always save your ATM receipts until you are able to compare them to your monthly statement or you verify your transactions online. If you believe there’s an accounting error involving an ATM transaction, the federal Electronic Fund Transfer Act (EFTA) offers protections. To be fully protected under the EFTA the law states,

Best Rates on CDs
Best Interest Checking Account Rates

Discover Bank IRA CD Rates

Emigrant Direct
Sallie Mae Savings

Bank Deals
Checking Account Promotions
Chase Bank Promotions Bank of America Promotions
Capital One Promotions
Citibank Promotion

Second Chance Bank Account
Online Checking Accounts Roth IRA Accounts

Best Credit Card Rates Low Interest Credit Cards Business Credit Cards Credit Cards with Cash Back Credit Card Applications
Best Credit Card Offers
Low Interest Rate Credit Cards
Credit Cards for Bad Credit

Best Prepaid Cards
Chase Bank Credit Cards
Chase Credit Card Offer Chase Freedom Card
Chase Credit Card Interest Rates
Wells Credit Cards
Apply for Citibank Credit Card
Citicreditcard
Student Citi Card
Citibank Dividend Card Balance Transfer Credit Card HSBC Bank Household Bank Credit Card

Personal Checking Account
Bank Certificates of Deposit
Compare Savings Accounts
Setting Up a Bank Account Online Bank Services
Bank Information
Open a Bank Account
Bank Money Markets
Bank IRA Accounts

Mobile Banking Online Banking

CD Ladder
CD Loan

Best Checking Accounts

Senior Checking Account

Car Loan Rate

Business Checking

Online Brokers

----------Calculators ---------

Savings Account Calculator
Compound Interest Calculator
Mortgage Payment Calculator

About Us | Contact Us | Privacy Policy