But can we measure how much incumbent firms try to shape regulations in their favor? Or how much market power leads to political power? No, you cannot lose money in a money market account as long as you're under the FDIC insurance deposit limits.A Stigler Center webinar explores how businesses lobby and compete for political power and whether mergers and industry concentration affect lobbying.įirms compete in markets, and markets are affected by regulators. Always make sure that you're looking out for fees!Ĭan you lose your money in a money market account? Some may charge monthly maintenance fees, especially if you don't keep the minimum balance required.
Money market accounts are offered at banks, credit unions, and even some brokerage firms. Yes! Money market accounts are FDIC insured.Īre money market accounts offered only at banks? With a money market account, you can deposit and withdrawal your money at any time. What's the difference between a money market and a CD?Ī CD is a banking product that has a structured term, and you must keep your money in that CD for the term in order to get your interest payment. The big difference is that a money market account typically pays a little bit higher interest, but it also typically requires a slightly higher minimum balance. Both accounts are FDIC insured, both have limits on how many checks and transfers you can do, and both are offered by banks, credit unions, and investment firms. There is very little difference between a savings account and a money market account. What's the difference between a money market and savings account? Here's our FAQ on money markets based on some of the common questions we get.
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Read our full CIT Bank review here.īonus: Right now, you can earn 1 free year of Amazon Prime (open to new and existing customers) when you open and fund a CIT Bank Money Market account. There are no gimmicks with CIT Bank - you earn interest on your entire balance, and you have a low minimum to get started. You can currently get 0.85% APY if you meet the requirements (whether balance or deposits).
The CIT Bank Money Market Account is one of our top money market picks because they consistently have one of the highest interest rates offered to consumers.Īlso, their platform in incredibly easy to use, with the ability to sign up and get started in minutes. All products and services are presented without warranty. The information in our reviews could be different from what you find when visiting a financial institution, service provider or a specific product's website. strives to keep its information accurate and up to date. And our partners can never pay us to guarantee favorable reviews (or even pay for a review of their product to begin with).įor more information and a complete list of our advertising partners, please check out our full Advertising Disclosure. The College Investor does not include all companies or offers available in the marketplace. has an advertising relationship with some or all of the offers included on this page, which may impact how, where, and in what order products and services may appear. We're proud of our content and guidance, and the information we provide is objective, independent, and free.īut we do have to make money to pay our team and keep this website running! Our partners compensate us. There are thousands of financial products and services out there, and we believe in helping you understand which is best for you, how it works, and will it actually help you achieve your financial goals.