iGo Banking Money Market Accounts – not the highest in the marketplace

Money market accounts have taken off in the banking industry as one of the most sought after investment vehicles of our time. Easy access to your monies while still earning a competitive interest rate is the attraction of these accounts.

Money markets are FDIC insured up to $250,000 and pay a higher rate of return than basic savings or checking accounts. However, you still have the same access to your investments as a basic checking or savings account. ATM withdrawals and check writing capabilities are generally found with almost all money market accounts.

IGo Banking money market accounts permit online banking and automatic transfers from your iGo Banking checking accounts to your money market accounts. Money market accounts will even provide owners with balance alerts for your mobile phone or email accounts that you set up with your money market information.

Interest is competitive and compounds daily with a monthly payment. The larger your money market balance, the more interest payments received and the faster your investment will grow.

iGo Banking money market accounts don’t have a large variation of interest rates for their money market accounts. With only a single interest rate of 1.00 and APY of 1.01, they aren’t the highest in the marketplace. There is a minimum balance to open the account of $25,000 which differs from their savings and checking accounts which only require zero or $1 respectively.

If you are searching for money market accounts with more flexibility, competitive rates and lower initial deposits you definitely would like to look around. You can certainly make money on the interest rate available or offered by iGO, but only because the initial deposit is so large.

iGo's Money Market Account is unfortunately not as attractive as it's Certificate of Deposits Account.

iGO money market accounts are certainly different when compared with what they are offering for their certificates of deposit. The CD accounts with iGo Banking have an enormous variety and selection to choose from for investors. However, certificates of deposit differ from money market accounts in access to your funds. Certificates of deposit have maturity dates that must be met or penalties are applied that can cost an investor their interest and many times a portion of their principal.

Though iGo Banking doesn’t have the highest interest rate for money market accounts the minimum deposit of $25,000 to open the money market account will net you some return on your low risk investment. Your monies are safe and secure with FDIC insurance and their website is wonderful for easy navigation and online banking capabilities.