You can write
checks from a money market account (another advantage they have over savings accounts) and in some cases you can get a debit card tied to your money market account.
Federal regulations limit the number of transactions (transfers or withdrawals) you can
make from a Money Market Account to just six per monthly statement period.
Federal regulations limit the number of transfers and electronic
payments from a money market account to a maximum of six (6) per statement cycle from the following categories: preauthorized transfers, including overdraft protection; telephone transfers; and electronic transactions, including WebsterOnline transactions, Checks, Check Card payments to third parties, Automated Clearing House (ACH) transactions and wire transfers.
Please note that the number of withdrawals
allowed from money market accounts is limited so please refer to your Deposit Account Disclosure for Consumer Accounts for more details.
Federal law requires that no more than six preauthorized or automatic transfers (including online and telephone transfers) to other accounts you have with us or to third parties may be made
from the Money Market Account during any statement cycle.
Regulatory limit of six (6) transfers or payments (preauthorized, automatic, by telephone, or from a personal computer) including drafts, checks, debit card, or similar order (including POS transactions) payable to a third party,
from your money market account per statement cycle.
For example, you can not make more than six withdrawals or payments per statement cycle by check, debit card, draft or electronic
transfer from your money market account, and you'll have limited check - writing ability from the account.
You may have more ways to access your
funds from a money market account (for example, through checks), while you may only have access to your savings account via an electronic transfer or ATM / debit card.
Dividends
paid from money market accounts, such as deposits in savings banks, credit unions or other financial institutions, do not qualify and should be reported as interest income.
For example, a business may transfer $ 10,000
from a money market account to its checking account.
From money market accounts to certificates of deposit, there is a solution waiting for you at BancorpSouth.
How do I stop payment on a check
from my Money Market Account?
Program withdrawals
from Money Market accounts are limited to six per month.
* Transfers
from Money Market accounts to another account or to third parties by preauthorized automatic, telephone, or electronic transfers are limited to a combined total of six (6) per month.
The key difference is that you can't write checks from a High Yield Savings account, but you can write a limited number of checks
from your Money Market Account.
For example, you may want to set up a repeating transfer schedule to automatically transfer $ 500
from your money market account to a checking account at the end of each month.
From a Money Market account to a CD, we'll keep your money safe and give it opportunities to grow.
Credit Unions are able to pay dividends on business checking accounts, eliminating the need to transfer to and
from a Money Market Account.
Under existing federal regulations, you may make a maximum of six preauthorized transfers (including telephone transfers and automatic transfers)
from your money market account each month.
Also, you often have the option of writing checks
from a money market account (although you are often limited to the number you can write each month).
People Pay is a free service that allows you to send money
from your Money Market account to almost anywhere with an email address or mobile phone number.
Note: Federal law limits the number of certain types of withdrawals and transfers
from a Money Market Account to a combined total of six per calendar month per account.
Federal law limits the number of certain types of withdrawals and transfers
from a Money Market Account to a combined total of six per calendar month per account.