Wells Fargo Money Market
Wells Fargo is a financial services company delivering banking, investments and loan services to their customers all over the country. Money market accounts are one of the services provided by the lending institution that is a leader in the financial community and industry.
After acquiring the Wachovia Bank in December of 2008, they have expanded their services and their customer service has been improved as verified by the reviews that can be found online and in other resources such as financial news. Although based in Sioux Falls, South Dakota, over 70 million of their customers have an excellent source of contact for their lending institution. With their brick and mortar locations, ATMs and online website presence you have access to your bank when you need them.
Wells Fargo is reliable and safe. It is the 4th largest bank in the nation.
With over 10,000 brick and mortar locations, 12,000 ATMs in 39 states they are one of the most prevalent banking franchises in America. This makes opening any type of account with Wells Fargo make you feel secure knowing you can access your money market account with Wells Fargo from nearly anywhere in the country.
Wells Fargo has maintained a healthy banking rating throughout the majority of their history as a financial institution going back to their inception in 1870.
Money market accounts are very attractive to financiers searching for a place to deposit large amounts of money with a higher interest rate than a typically savings account that they can access nearly anytime they want. Unlike CDs, money market accounts don’t have penalties for early withdrawals and can function similar to a checking account.
Wells Fargo has two different types of money market accounts for their personal and business customers. Their money market accounts are separated into regular money market accounts and bonus money market accounts.
You can save youself some money by maintaining at least $3500 in the account at all times or by making 2 separate $75 automatic transfers. This way, the monthly maintenance fee is waived.
The APY for the money market accounts does differ between the two. The bonus money market accounts APY is almost triple that of the basic account. However, there is a minimum amount that needs to remain in your bonus account in order to receive the higher rate of interest. Your monthly fee for the money market account is waived for the personal customer, when $3500 remains in the account at all times or 2 separate $75 automatic transfers are made from another Wells Fargo account to your money market account.
Wells Fargo has nearly 300,000 employees and is an industry leader in lending in our country today. Being the fourth largest bank in the nation can provide you with a sense of security in this lending institution.