Personal Money Market Account
Money market accounts offer distinct advantages over traditional savings accounts that can help you maximize your returns. A Money Market Savings Account is a savings account offered by banks and credit unions that combines features of checking and savings accounts. Money market accounts provide higher interest rates than regular savings accounts and offer services like check-writing privileges and debit card access.
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You get the best of both worlds with a Sunwest Bank Super Savings Money Market Account. You earn interest on your savings like a standard savings account but also have the flexibility of accessing your funds easily, like a checking account. Here are the key advantages of choosing a money market savings account for your cash reserves:
Earn Higher Interest Rates with a Money Market Account
The main benefit of money market accounts is that they offer higher interest rates than regular savings accounts. Although there are options to enroll in a savings account with a bank or credit union, Sunwest Bank pays competitive interest rates that are typically multiple times higher than traditional savings accounts, making it one of the best money market account options.
Convenient Access to Your Funds
Unlike traditional savings accounts, money market accounts provide services that make it easy to access your money when needed. The Sunwest Bank Super Savings Account comes with a debit card that can be used at ATMs worldwide. You also have the option to write checks directly from your account.
This gives you a lot more flexibility to pay bills, withdraw cash, and transfer money between accounts as needed.
FDIC Insured for Peace of Mind
An important benefit of the Sunwest Bank Super Savings Money Market Account is that it provides the security of FDIC insurance coverage up to the maximum allowable limits.
Knowing your money is backed by the full faith and credit of the FDIC allows you to earn a higher return without worrying about unnecessary risk. Your principal of up to $250,000 is guaranteed safe and secure.
How a Money Market Account Works
A money market account operates similarly to a checking account, with a few key differences. Like a checking account, you can deposit funds and withdraw money anytime. You also have access via checks or debit cards. However, money market accounts pay interest like a savings account.
The interest rate is variable and can fluctuate based on market conditions. But it will always be higher than a traditional savings account rate.
When you open the account, you make a deposit to start earning interest right away. You can add more funds or withdraw money at any time without penalty. Interest compounds daily and is credited to your account monthly.
Why Choose the Sunwest Bank Super Savings Money Market Account?
Sunwest Bank’s Super Savings Money Market Account provides an attractive option for keeping your savings in a high-yield, liquid account. Here are the top reasons to choose this account:
High Interest Rates
The number one reason is to earn a competitive interest rate that maximizes your returns. Sunwest Bank consistently offers rates higher than the national average. You can earn over 25 times more interest than a typical savings account.
Low Minimum Opening Deposit
You can open a Sunwest Bank Super Savings Account with just a $100 minimum deposit. The low opening and minimum balance requirement make it easy to earn high-yield interest immediately.
Low Monthly Maintenance Fees
The monthly service charge of $15.00 is waived by maintaining a minimum daily balance of $2,500.00.
Mobile and Online Banking
The account comes with digital banking features for managing your account anytime. You can conveniently monitor your balance, transfer funds, deposit checks, pay bills, and set up alerts through online or mobile banking.
Debit Card Access
Withdraw cash fee-free at MoneyPass ATMs across the United States. Find a MoneyPass ATM or Sunwest Bank Branch near you.
Check-Writing Privileges
Pay bills directly from your Super Savings Account with included check-writing privileges. Write unlimited checks with no per-check fees.
Top-Notch Customer Service
Sunwest Bank provides exceptional customer service if any questions arise. Their U.S.-based service team is available by phone or email to provide helpful and friendly assistance.
Strong Financial Institution
Sunwest Bank has nearly $3.0 billion in assets and has maintained financial strength and stability for over 50 years. Your money is in good hands at this longstanding institution.
By choosing the Sunwest Bank Super Savings Money Market Account, you get the perfect combination of high-interest earnings, convenient access to your money, and strong customer service – all from a stable, secure financial institution. The account’s user-friendly structure and competitive rates make it a top choice for maximizing savings.
Money Market Accounts: Frequently Asked Questions
What is the difference between a money market account and a savings account?
Money market accounts earn higher interest rates. Savings accounts have very low or no interest and lower minimum opening deposits.
When should I choose a money market over a regular savings account?
If you want to earn higher interest returns on deposits and prefer easy access to funds, a money market account is better than a standard savings account.
Can I write checks and use my debit card with a money market account?
Yes, the Sunwest Bank Super Savings Account includes check-writing privileges and a debit card. You can access your funds easily by writing checks, using your debit card, or withdrawing directly from ATMs.
How does interest compounding work?
Interest accrues daily on your money market account balance and compounds monthly. This allows your interest to earn interest, maximizing your returns over time.
Is my money market account FDIC insured?
Yes, money market deposit accounts like the Sunwest Bank Super Savings Account are FDIC insured up to $250,000 per depositor, providing the highest level of account security.
Start Saving Today
Maximize your savings returns with the high-interest rates, convenient access, and account security of the Sunwest Bank Super Savings Money Market Account. Open your account today and start earning higher yield interest on your money.