which bank has a highest interest rate for money market account?
I too have had this same issue. As a finance major, let me explain two different types of money markets. Banks generally have money market deposit accounts. These generally all have the same market rate and have strict minimum amounts and only allow you to make a certain number of withdrawals per year (generally three). I would suggest getting a money market mutual fund. Check out Emigrantdirect.com The annual percentage yield is just as good, and it is also free. What’s great is you can deposit as little or as much as you want and get the same interest rate. Since it is online there is no overhead, no fees, etc. You just link a checking account to it, and you can transfer the money back and forth as needed as many times as you need! I hope this helps. This seems to be the best out there considering the freedom you have when using their service, and still getting the same return as other money market funds. Sources: emigrantdirect.
