Money Market FAQs
How large does my balance need to be to open a Money Market Account?
You may open a Classic Money Market account with as little as $1; however, you will only begin to earn interest in balances higher than $2,000.
Tips for increasing your Money Market balances
An easy way to increase your savings quickly is to utilize payroll deduction services, automatically stashing aside extra cash from your paycheck each time you are paid, or alternatively using automatic transfers from your checking on a regular basis.
Are there penalties for withdrawing from my Money Market Account?
You are allowed 6 total withdrawals per month. Additionally, if the withdrawals leave your balance below the minimum necessary to earn interest, you will not earn interest for that statement period.