The Perfect Way To
More bang for your buck.
Leader Bank’s Money Market accounts provide you with all of the benefits and flexible access to your funds that come with a traditional Checking account but with a tiered interest rate that will help you earn more the higher your balance is! Plus, you’ll have access to your money any time you need it.
Bank with Confidence
Rest easy knowing funds in your Money Market are secure with Leader Bank through with Federal Deposit Insurance Corporation (FDIC) coverage up to $250,000. Plus maximize coverage on deposits beyond this limit with Leader Bank through the IntraFi Cash Service network
Access Funds Anytime
Unlike a Certificate of Deposit, you’ll be able to use funds in your Money Market account whenever you need them. It’s the best of both worlds – a higher rate and flexible access to your money!
Streamlined Account Management
With Leader Bank’s Online and Mobile Banking platforms, you’ll be able to easily manage your account on the go. Transfer funds and pay bills anytime, anywhere!
You may only make six (6) preauthorized, automatic, telephone or third party check transfers from your Money Market account each statement cycle. Bill payments will count towards the six (6) monthly allotted transactions. We reserve the right to at any time require not less than seven (7) days’ notice in writing before any withdrawal from your account. You must maintain a minimum balance of $10.00 in the account each day to obtain the minimum disclosed APY. A monthly service charge of $6.00 will be imposed every statement cycle if the account balance falls below $1,000.00 on any day of the statement cycle.
FAQs
What is a Money Market Account?
A Money Market is a type of deposit account that combines some of the features of Checking and Savings accounts. Like a Savings account, Money Markets pay interest on your account balance. And similar to Checking accounts, funds in a Money Market account can be used with a checkbook or debit card at will.
Are money market accounts FDIC-insured?
Yes. Money Market funds are insured up to the FDIC limit of $250,000. Plus, Leader Bank is proud help our clients maximize access to coverage beyond this limit through the IntraFi Cash Service network!
When can you withdraw from a money market account?
Unlike like a CD account, you can withdraw money from your Money Market account whenever you need to. However, it’s important to note that some banks may place limits on how many withdrawals you can make from a Money Market during a statement period. At Leader Bank, you are allowed to make six preauthorized, automatic, telephone or third-party check transfers from your Money Market account each statement cycle.
Do money market accounts have minimum balances?
Minimum balance requirements will vary by financial institution. At Leader Bank, only $10 is required to open a Money Market account and earn interest.
What’s the difference between a money market account and a regular savings account?
While Money Market accounts share some features with traditional Savings accounts, the primary difference is how you access your money. With a Money Market account, you’ll be able to withdraw and spend money similar to how you would with a Checking account – with a debit card or checks.
What should I use money market accounts for?
A Money Market account is perfect if you already have money saved up and want to earn interest on it, but still need quick and easy access to it.
Get the Most Out of Your Savings With Easy Access to Your Account!
With a Leader Bank Money Market account you’ll get a great rate to put your savings to work for you!
Absolutely! And with free Online and Mobile banking managing your account on the go is easier than ever.
Savings Goal Calculator
The information provided by these calculators is for illustrative purposes only and the calculated results are not guaranteed. The default figures shown are hypothetical and may not be applicable to your individual situation. Be sure to consult a financial professional prior to relying on the results.
