5 Benefits of a Money Market Account
Make the Ally Bank Money Market Account Work for You
Money market accounts are a popular option for people looking to save money. These accounts often are available from online banks like Ally Bank, which offers customers the convenience of online banking and the advantage of competitive interest rates. Five benefits of money market accounts include:
1. FDIC Insurance. The Federal Deposit Insurance Corporation (FDIC) insures deposits and the interest accrued up to the maximum amount allowed by law. FDIC insurance protects the money in your money market account the same way it does in regular savings accounts.
2. Availability of Funds. Another benefit of money market accounts is access to funds. You can make up to six withdrawals per statement cycle in the form of transfer, check or debit card transactions. ATM withdrawals are not included in the limit. This means your money isn’t tied up the way it is in other types of accounts, such as CDs. (For specific information about the Ally Bank Money Market Account click here .)
3. Interest Rates. The interest rate you get for a money market account may be determined by several factors, including the bank you use and the amount of money you deposit. Ally Bank interest rates (as published by Bankrate.com ) are generally among the most competitive in the country and the interest rates are not determined by the deposit amount.
4. Check Writing and Debit Card Access. Unlike regular savings accounts, some money market accounts including the Ally Money Market Account provide you with the ability to write checks and access funds using a debit card. This provides added flexibility should you ever need money from that account.
5. Account Benefits. At Ally Bank, your money market account can be opened and funded with any amount. And there are no monthly maintenance fees or minimum balance requirements. Plus, Ally doesn’t charge fees to use ATMs nationwide. And, if you are charged ATM fees by other banks in the U.S. we’ll automatically reimburse you at the end of your monthly statement period. You’ll also enjoy 24/7 live customer support, via web chat at Allybank.com and by phone at 877-247-ALLY (2559). Take a look at all the great features that come with an Ally Bank Money Market Account and see how easy online banking can be.
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Learn About the Risks of Options Trading
Options involve risk and are not suitable for all investors. Options investors may lose the entire amount of their investment in a relatively short period of time.
Prior to buying or selling options, investors must read a copy of the Characteristics and Risks of Standardized Options brochure (PDF), also known as the options disclosure document. It explains the characteristics and risks of exchange traded options.
You can also request a printed version by calling us at 1-855-880-2559 .
A few things you should know
Ally Financial Inc. (NYSE: ALLY) is a leading digital financial services company and a top 25 U.S. financial holding company offering financial products for consumers, businesses, automotive dealers and corporate clients. Ally Bank, the company’s direct banking subsidiary, offers an array of banking products and services.
Deposit products (“Bank Accounts” on Ally.com) are offered by Ally Bank, Member FDIC. In addition, mortgage products are offered by Ally Bank, Equal Housing Lender . NMLS ID 181005. Credit and collateral are subject to approval and additional terms and conditions apply. Programs, rates and terms and conditions are subject to change at any time without notice.
The Ally CashBack Credit Card is issued by TD Bank, N.A.
Securities products and services are offered through Ally Invest Securities LLC, member FINRA and SIPC.
View all Securities disclosures
Options involve risk and are not suitable for all investors. Review the Characteristics and Risks of Standardized Options brochure before you begin trading options. Options investors may lose the entire amount of their investment in a relatively short period of time.
Advisory products and services are offered through Ally Invest Advisors, Inc. an SEC registered investment advisor. Brokerage accounts are serviced by Ally Invest Securities LLC and advisory client account assets are kept in custody with Apex Clearing Corporation, members FINRA and SIPC. View all Advisory disclosures
Foreign exchange (Forex) products and services are offered to self-directed investors through Ally Invest Forex LLC. Ally Invest Forex LLC, NFA Member (ID #0408077), acts as an introducing broker to GAIN Capital Group, LLC (“GAIN Capital”), a registered FCM/RFED and NFA Member (ID #0339826). Your forex account is held and maintained at GAIN.
Ally Invest Forex LLC and Ally Financial Inc. are separate, but affiliated companies. View all Forex disclosures
Futures trading services are provided by Ally Invest Futures LLC member NFA. Trading privileges are subject to review and approval. Not all clients will qualify. View all Futures disclosures
Forex, futures, options and other leveraged products involve significant risk of loss and may not be suitable for all investors. Products that are traded on margin carry a risk that you may lose more than your initial deposit. Increasing leverage increases risk. Spot Gold and Silver contracts are not subject to regulation under the U.S. Commodity Exchange Act.
Forex and futures accounts are NOT PROTECTED by the Securities Investor Protection Corporation (SIPC).
Products offered by Ally Invest, but not limited to, Ally Invest Advisors, Ally Invest Securities, Ally Invest Forex, and Ally Invest Futures are NOT FDIC INSURED, NOT BANK GUARANTEED, and MAY LOSE VALUE.
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