Technology Blog

Online money market account

Many of the readers in this blog are big business men (some of my friends that is) and I would like to tell them something about an online money market account, this is not promotion of a particular product but an insight to what it is.

A money market account is just like a regular savings bank account but the deposit that you keep always has to be above a certain limit like a thousand dollars. These accounts give more interest as compared to savings bank accounts.

Today technology has taken it to the next level. You can have money market accounts online! There are many banks offering this service (but be careful!). I wrote this post after surfing through the web and seeing that there is limited information on it.

Here is a quick summary of what an Online money market account is:

• Its an online account
• Requires a large initial deposit which has to be maintained all the time
• Some banks have a limit of three to four cheques a month

You must be wondering why I put it here, one is to give more info my blog readers and second is I am just amazed where technology has taken us. With the help of few computers, banks are able to reach the homes of every individual! Imagine a man in the 80’s who wanted to start an account like this, he had to go to a bank, fill a form etc… But now just one online application and a credit card number can do the trick.

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