Money Market Savings Accounts: Explore the Benefits
Whether you’re just starting to save or are an experienced investor, Farmers State Bank offers a range of savings account choices to help your money grow. One such option is our Money Market Savings Account.
How It Works
A Money Market Savings Account is a type of savings account that typically offers higher interest rates than traditional savings accounts. The interest rates on our Money Market Savings Account are tiered based on your account balance, so the more you save, the more you earn.
For account balances below $2,500, a $5 monthly service charge applies. However, this charge can be waived if your average balance remains above $2,500. Additionally, unlimited in-person withdrawals are allowed, but there is a limit to six third-party withdrawals per month, including checks, ACH, and debit card transactions.
Advantages
The Farmers State Bank Money Market Savings Account has several advantages, including:
- Higher Interest Rates: Our Money Market Savings Account offers more competitive interest rates compared to traditional savings accounts, allowing your money to grow faster.
- Ease of Access: Easily access your money market funds through online banking, mobile banking, telephone banking, and at any of our branch locations.
- FDIC-Insured: Money market savings accounts are FDIC-insured up to $250,000 per depositor, providing an extra layer of security and peace of mind.
Opening a Money Market Savings Account
Opening a Money Market Savings Account is easy and straightforward. Simply visit one of our branch locations, and our friendly and knowledgeable staff will be happy to assist you with the setup process.
As with all our accounts, you’ll have access to a range of convenient services that can help you manage your money more efficiently, such as online banking, automatic transfers, telephone banking, ATM cards, and coin counting.
Start Saving Today
At Farmers State Bank, we understand the importance of savings and financial security. Our Money Market Savings Account offers the flexibility and ease of access to help you reach your savings goals faster.
For assistance or inquiries regarding our Money Market Savings Account or any other savings account options, please contact our customer support team at 1-800-350-2844 or contact us.