Continued third party transactions or preauthorized transfers, over the regulatory limit, will
result in the money market account or savings account being closed or converted to a checking account.
Exceeding the regulatory limit on transfers, payments or withdrawals on more than an occasional basis may
result in money market account being converted to a transaction account.
Not exact matches
Excessive transactions may
result in changing your Business
Money Market account to a Business Checking
account and will be subject to the features and fees as described
in the Business Checking Accounts and Related Charges
in effect at that time.
However, our disclosures state that more than 3 withdrawals from a
Money Market Account in a statement period can
result in a fee and / or a lower interest rate.
Any change
in the interest rate (up or down) can have an unpredictable impact on the stock
market, and for those with savings invested
in the
markets, like many traditional 401 (k) plans or
money market accounts, the
results can be nerve - racking.
I've often mentioned that the term «high yield» is used relatively, because you'll find most rates at banks and financial institutions to be set at even lower levels,
resulting in an average APY of 1.001 % for
money market and savings
accounts.
Failure to maintain the minimum balance, at any time,
in the
Money Market account will
result in forfeiture of dividends and a $ 10.00 monthly fee.
You've seen some of the
results in your
money market and bank
account yields: you're lucky to earn enough interest on your liquid savings to underwrite your Starbucks habit.
When the fear response is triggered, the
results are predictable: counterproductive investor behaviors, such as selling after a large
market decline or keeping all one's retirement
account in a
money market fund.
Traders with big
accounts do not feel pressure or a «need» to trade... they are more relaxed and patient, and this
results in them making
money faster than the small -
account mentality trader who is constantly looking for trades and desperately trying to force
money out of the
market.