Comments on: Best Money Market Account (MMA) Rates

By: RALPH F DUPUY

RALPH F DUPUY — Sun, 17 May 2009 03:55:22 +0000

DEMAND NOTES BY GMAC MMA, APRIL 09 ,RATE IS 3.92%, ANNUAL YLD 4.0%

By: jim

jim — Thu, 08 Jan 2009 17:33:23 +0000

AIG Bank is still around. The FDIC doesn’t publish which banks are on their watch list so there’s no way to know, plus your funds are FDIC insured.

Are there other risks you were referring to?

By: satchmo

satchmo — Thu, 08 Jan 2009 17:08:57 +0000

I’m not sure when this was written, but is AIG bank still around? What about the others? Which one of these is most guaranteed not to go under? I heard good reviews about GMAC, but what about others like Onbank, which are pretty new? the blog doesn’t address risks of each MMA account

By: jim

jim — Mon, 05 Jan 2009 19:09:07 +0000

It’s not technically an MMA, at least I didn’t think so when I created this list.

By: Paul

Paul — Mon, 05 Jan 2009 17:10:40 +0000

Why isn’t the Dollar Savings Direct 4.00% rate listed on here? Is it not a MMA?

By: jim

jim — Fri, 02 Jan 2009 05:25:30 +0000

Money market funds typically have better yields and there are also tax exempt funds that make the yields even more attractive.

By: akhter

akhter — Fri, 02 Jan 2009 05:16:23 +0000

Why would one get a money-market fund then? Are the yields higher on the MMFs?

By: Eric N.

Eric N. — Sat, 27 Dec 2008 23:40:01 +0000

Oh right that makes sense. Thanks Jim.

By: jim

jim — Wed, 24 Dec 2008 02:11:05 +0000

You’re right but some people like MMAs because they are in that middle zone and only want one account.

By: Eric N.

Eric N. — Wed, 24 Dec 2008 01:47:02 +0000

So I might be missing something but if someone already has a checking and savings account, does a MMA provide any additional/different benefits outside of the yield? Maybe I’m just a little confused…I know about the existence of MMAs but I’ve never come across compelling reasons to open one really.