High yield money market accounts are one of the easiest and most lucrative online investments. Users enjoy the convenience of having both a savings and checking account, while earning a much higher rate of interest.
New York, NY (PRWEB) May 29, 2014
Today, Creditnet.com, a leading authority on banking, credit, and credit cards, announced the best money market accounts of 2014. A money market account, or a money market deposit account, is a financial account that pays interest based on the current money market. Consumers who use a good money market account can end up accruing significant amounts of interest. Alice Bryant, editor of Creditnet.com, suggests, “High yield money market accounts are one of the easiest and most lucrative online investments. Users enjoy the convenience of having both a savings and checking account, while earning a much higher rate of interest.”
To create their ranking of the best money market accounts, Creditnet experts weighed many factors including APYs, intro rates, minimum deposits, fees, customer reviews, and expert opinions. According to their findings, here are the best money market accounts for consumers today:
GE Capital Bank offers a money market account with a 0.90% APY, one of the best rates on the market. There is no minimum deposit required to open an account, and consumers can open an account in 10 minutes or less. There are no monthly fees or transaction fees, and this account is FDIC insured. Interest is compounded daily and paid monthly, so users can quickly see the benefits of this money market account. Consumers can access their money through electronic transfers, wire transfers, or depositing by check. The GE Capital Bank account is a great money market account allowing users to enjoy maximum flexibility for everyday savings.
Like GE Capital Bank, Ally Bank is another high yield money market account. With this bank, there is a 0.87% APY. There is no minimum deposit required to open an account, and there are no monthly maintenance fees. Deposits are insured by the FDIC up to the maximum allowed by the law, and interest is compounded daily. Users can also deposit checks remotely with Ally eCheck Deposit. Ally Bank offers excellent customer service where members can talk to a real person 24/7. Users have access to online and mobile banking to make their banking experience convenient and simple.
EverBank rounds off Creditnet’s list of the best money market accounts of 2014. With this account, there is a 0.86% APY. There is a minimum deposit of $1500, but there are no monthly fees or transaction fees. Users have access to online and mobile banking, as well as mobile check deposits and paper checks. This account is FDIC insured, and EverBank promises that their money market account yield will be in the top 5% of competitive accounts at leading banks nationwide.
These are the best money market accounts on the market today. For more information regarding money market accounts, access Creditnet’s banking tool: http://www.creditnet.com/banking/money-market.
Creditnet is an authority credit card comparison site that offers innovative comparison tools to help users find the best credit card for their needs. In addition, the Creditnet Credit Talk Forum is a community of over 100,000 members that discuss credit cards, credit, debt, and credit repair daily.