Are money market accounts federally insured?

Answer A money market deposit account is an interest-bearing account at a bank that is insured by the Federal Deposit Insurance Corporation (FDIC). However, money market mutual funds are not insured by th... Read More »

Top Q&A For: Are money market accounts federally insured

Are Money Market Funds Federally Insured?

Money market funds are not federally insured because such funds are investments that risk losing money in exchange for the possibility of higher rates of return. The exception are money market acco... Read More »

Are money market accounts insured by FDIC?

Yes, money market deposit accounts are insured by the FDIC (Federal Deposit Insurance Corporation). These accounts are insured up to $250,000, which is the legal limit. However, it is possible for ... Read More »

Are Money Market Savings Accounts FDIC-Insured?

The Federal Deposit Insurance Corp. was created through the Banking Act of 1933, during the Great Depression. Its main purpose is to insure bank account holders against the loss of their deposits ... Read More »

Are Bank of America money market accounts insured?

At bank of America, the opening balance of a money market account must be at least $100. Interest is compounded daily and credited monthly. Money market accounts are insured by the FDIC.References:... Read More »