F&M Bank Market Rate Money Market Review
F&M Bank Market Rate Money Market is offered by F&M Bank,
founded in 1907 and based in Long Beach, CA.
F&M Bank Market Rate Money Market is available in
50 states (and Washington, DC).
- Low APY. The maximum annual percentage yield for this account is only 0.05.
- Charges a monthly fee. This account charges a monthly service fee of up to $15, but the fee is waived if you keep a minimum balance of $2,500.
- Small minimum initial deposit. You only need $100 to open an account.
Pros & Cons of F&M Bank Market Rate Money Market
- Available in all 50 states.
- Access to physical branches.
- Free debit card
- No charge on incoming domestic or international wire transfers.
- Deposit checks remotely.
- No signup bonus.
- Monthly service charge.
F&M Bank Market Rate Money Market FAQ
Are money market accounts from F&M Bank federally insured?
Yes, your F&M Bank money market accounts are insured up to $250,000 per person by the Federal Deposit Insurance Corporation (FDIC). The FDIC is an independent agency of the United States government that protects you against the loss of your insured deposits if an FDIC-insured bank or savings association fails. FDIC insurance is backed by the full faith and credit of the United States government.
What are the interest rates for F&M Bank Market Rate money market rates?
F&M Bank Market Rate money market offers an APY starting at 0.03% and ranging up to 0.05% (APY stands for annual percentage yield, rates may change). However, to earn interest you must keep a minimum balance of $0.01.
F&M Bank Market Rate money market Rates and Terms
|APY (Annualized Percentage Yield)
||0.03% - 0.05%
What are the fees for F&M Bank Market Rate Money Market?
This account charges a monthly maintenance fee of up to $15.
You can avoid this fee by maintaining a balance of $2,500.
F&M Bank Market Rate Money Market Fees
||up to $15
|Paper Statement Fee
What is the minimum balance for F&M Bank Market Rate money market?
Minimum deposit of $100. You must make an initial deposit of at least $100 to open this account.
Monthly maintenance fee waiver. You can avoid the monthly fee if you keep a balance of $2,500.
Interest rate minimum balance of $0.01. You must keep the account balance above $0.01 to earn interest.
What features and perks does F&M Bank Market Rate money market offer?
This account includes the following features:
- Check images with statement - Reconciiling your account and complying with document retention standards is easier when you have access to a copy of your checks.
- Fraud monitoring - F&M Bank monitors transactions for potentially fraudulent activity.
- Mobile Banking Services - F&M Bank Market Rate money market allows you to manage your money through online banking and a dedicated mobile app. This includes depositing checks in your account with your smartphone.
How to open an account with F&M Bank
- Visit the F&M Bank website.
- Fill in the application form. You will typically need to provide general financial information, such as your name, Social Security Number and address.
- Check the information is accurate and submit your application.
SuperMoney Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website
may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking
on links posted on this website.
Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author’s alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.