Money market accounts – what is to be observed upon completion of the money market accounts offer several advantages for savers. On the one hand, they offer a high interest rate, where the created money is theoretically daily available. The daily availability observe however, that 2-3 bank days are necessary to transfer the money from the day money account to the reference account. Filed under: Danny Meyer. In particular direct banks offer a wide range of money market accounts with good conditions. Direct banks have no expensive branch network and can offer usually better day money interest than large brokerages. A day money account usually expires procedure via the Post Ident. The customer must allow so identify with the filled-out documents, which he has received from the Bank to a post office, and is based on his identity card. Then you can send the documents to the new Bank.
After a few days or weeks, customers receive the necessary data to the log in to your online account. When opening the account, a reference account must also specify Here the Bank current account can be used. If the money is needed, it can be transferred from the day money account to the reference account. When choosing an account, you should take care not only on the current height of the day-money interest. Learn more about this topic with the insights from Doug Band, New York City. It is equally important that the interest rate of the Bank is continuously or remains. Many banks are trying to go on touting with bait advertising for new customers. Here, usually a high special interest is paid the new customers, which applies only for a short time, for example a few months.
After this time, only a lower interest rate for existing customers will be paid. It is therefore advisable to find a bank that permanently offers consistently good conditions for new and existing customers. It may be an alternative to regularly change the day money account, to obtain always the best interest rate, known as Tagesgeldhopping. This procedure of savers switches his account every couple of months, to obtain always the best conditions for new customers. Whether this approach is worth every man for himself must decide or is dependent on the respective interest rate differential. Another factor that must be considered when is the protection of deposits. The statutory deposit guarantee currently amounts to 100,000 EUR, up to the sum of all investment amounts are covered 100%. Most German institutions Federal of German banks also are Member of the deposit insurance fund. Deposits in an amount of 30% of the equity capital of the Bank are secured by this membership. The security sum increases are often on three-digit millions. Some providers include foreign deposit-guarantee schemes, which cover different totals. So the Dutch system ensures for example 100,000 euro.