Explanation[ edit ] Money market funds seek to limit exposure to losses due to creditmarketand liquidity risks. Rule 2a-7 of the act restricts the quality, maturity and diversity of investments by money market funds. Under this act, a money fund mainly buys the highest rated debtwhich matures in under 13 months. Funds are able to pay dividends to investors.
Open an account in just minutes. There are no monthly fees. You can make up to 6 withdrawals per month. Free online and mobile banking. Why open a money market account?
A money market account is a great way to receive more interest with less risk. Whether you're trying to balance out an investment portfolio or just trying to grow your hard-earned money, a money market account is a good liquid option between a traditional savings account and a certificate of deposit.
Why Dime Community Bank? For over years, Dime has been providing the right products and services to help individuals achieve their financial goals.
We take that responsibility seriously and are committed to helping you achieve yours. As a trusted community bank, we are actively involved in our communities and value these relationships. Just an account that will help you grow your money in a steady, safe and secure manner.
You can make up to six withdrawals per monthly statement cycle without any penalties or fees. How are withdrawals made with the DimeDirect Money Market?
Withdrawals from the DimeDirect Money Market Account are made via the external transfer feature through the Dime online banking.
To set up an external transfer to and from another financial institution, please follow the below: Log into your Dime online banking Click the Pay and Transfer tab Under External Transfers click Make An External Transfer Click Add External Account You will then be asked to confirm your identity by receiving a call at the telephone number we have on file The external financial institution can then be added Small dollar amount deposits will be sent electronically to that institution When the deposits are ready to be confirmed you will receive an email Once confirmed the external transfer feature can be utilized.
Wire transfers are not allowed unless in person at one of our 29 branch locations. We cannot accept wire instructions via telephone, email or fax. It is a variable rate account and can be changed at any time. We cannot offer to title the DimeDirect Money Market Account in the name of a trust, however, the trust can be set up as a beneficiary.The best money advice is often the simplest.
We rounded up tips on saving and investing from financial planners, bestselling authors, and even Warren Buffett, to help you save and earn the most money. May 07, · Some pension funds are starting to cut current retirees' pensions to keep from running out of money.
For money market funds, there are several fees investors should be aware of before investing. The biggest is the expense ratio, which is a percentage fee charged on the fund for management expenses.
For money market funds, these fees are typically very low, usually below %. Also, there may be balance requirements or transaction fees. 1 Vanguard Prime Money Market Fund Investment Objective The Fund seeks to provide current income while maintaining liquidity and a stable share price of $1.
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