![]() The FDIC insures funds held at banks up to $250,000 per depositor, for each account ownership category, in the event of a bank failure. Money market accounts are considered safe investments so long as funds are held at a financial institution insured by the FDIC at banks or the NCUA at credit unions. The money market account must be nationally available to appear on this list. High minimum deposit and balance requirements affected scores negatively. We also considered whether there were complex tier structures or requirements to earn the APY or other stipulations to earn the APY. And we prioritized money market accounts offering check-writing and debit card privileges. Accounts with high customer experience ratings and highly rated online and mobile banking tools were also ranked higher. Here’s the weighting assigned to each category:īanks and credit unions offering the highest APYs rose to the top of this list, as did those with low fees and easy-to-meet minimum deposit and balance requirements. ![]() All of the accounts on our list are online-based accounts. We ranked each account on 14 data points within the categories of APY, minimum requirements, customer experience, digital experience, fees and accessibility of funds. To create this list, Forbes Advisor analyzed 59 money market accounts at 44 financial institutions, including a mix of traditional brick-and-mortar banks, online banks and credit unions. Vio Bank Cornerstone Money Market Accountīethpage Federal Credit Union Money Market Account Read our full Connexus Credit Union Review.Ĭonnexus Credit Union High Yield Money Market Accountīest Overall Credit Union Money Market Account In addition to the regular group and geographic categories of membership, you can become a member of Connexus by making a one-time $5 donation to the Connexus Association. And Connexus offers 24/7 online and mobile banking options for access to your money. This account includes the ability to write checks. Balances below $1,000 do not earn dividends. While you must deposit at least $1,000 to open an account, there’s no penalty if your balance falls below $1,000. The highest tier pays 4.01% APY but requires a hefty balance of $1,000,000 or more. ![]() But for those willing to jump through some hoops, the rewards may be worth the effort. Granted, this account from Connexus has a more complicated earning structure than some of the other accounts on our list. If you forgo an inspection and a problem arises it will be your responsibility.Connexus Credit Union’s High Yield Money Market Account is a tiered-rate account paying higher dividends for larger deposits. If a problem is discovered before closing, you can go back to the seller and negotiate repairs. When your offer has been accepted, you will want to have a professional perform a home inspection. After considering some of these factors, submit an offer. You maybe want to consider a stronger offer in this case. Low inventory or a desirable neighborhood or if there are multiple offers on a house means you're in a seller‘s market. If there is an abundance of home inventory this is considered a buyer‘s market, giving you a little more negotiating power. A qualified real estate agent should be able to help you do this. Do your research to figure out what a fair price is. Now that you've found the perfect home, you need to make an offer. Make a list of must-have and nice-to-have features for your new home when shopping. Make sure you factor in commute time, neighborhood demographics, distance from shopping, school districts and the potential future value of the home when looking for a home. Once you determine what you can afford, you can begin searching for homes that fit your budget and meets your needs.
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