bank account types | Finance de Demain

Everything you need to know about money market accounts

By Faustin Djoufouet Published in Classic Finance

A money market account is a savings account with certain control features. It usually comes with checks or a debit card and allows a limited number of transactions each month. Traditionally, money market accounts offered higher interest rates than regular savings accounts. But nowadays, the rates are similar. Money markets often have higher deposit or minimum balance requirements than savings accounts, so compare your options before deciding on one.

Everything you need to know about the bank check

By Faustin Djoufouet Published in Classic Finance

Everything you need to know about bank checks

A check is a payment agreement between two people or organizations. When you write a check, you are agreeing to pay another person or organization the money you owe them and you are asking your bank to make that payment.

Bank checks, personal checks and certified checks

By Faustin Djoufouet Published in Classic Finance

A cashier's check is different from a personal check because the money is drawn from the bank's account. With a personal check, the money is drawn from your account. Certified checks and cashier's checks may be considered "official checks". Both are used in place of cash, credit, or personal checks. They are used to secure payment. It is difficult to replace these types of checks. For a lost cashier's check, you will need to obtain an indemnity guarantee, which you can obtain through an insurance company, but this is often difficult. Your bank may require you to wait up to 90 days for a replacement check.

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Tag: bank account types

Everything you need to know about money market accounts

Everything you need to know about the bank check

Bank checks, personal checks and certified checks