Savings and Money Market deposit accounts are subject to Regulation D. This limits the amount of withdrawals customer can make on these types of accounts per calendar month. The withdrawals included in Regulation D are the following: Automatic or electronic transfers to an account of the same depositor at the same institution, transfers to third parties by pre-authorized automatic transfers (includes ACH) or telephone agreements, order, or instruction.
Money Market Accounts
You'd like to earn interest on savings, but don't want to tie up all your money in investments. If only there were an in-between, right? There is. Money Market Accounts are your "in-between."
You earn interest, plus you retain anytime access you can't get from investments.
Money Market Deposit
Earns interest on entire balance (fees may reduce earnings)
6 withdrawals per month- subject to Regulation D
$6 monthly maintenance fee if balance falls below $2,500
Free online banking with bill pay
Free e-Statements available
Free MasterCard debit card
Free telephone banking
$2,500 minimum deposit to open
Money Market Investment
Earns interest on entire balance
Tiered interest rates; higher rates on larger balances ( fees may reduce earnings)
6 free withdrawals per month; additional withdrawals are $1 each