A Wells Fargo Money Market Savings℠ account can be opened with a minimum deposit of $100 and there is no monthly service fee with a minimum daily balance of $3,500 or with an automatic monthly transfer, which is a different amount depending on where you live. For California residents the minimum monthly transfer amount to avoid paying a monthly service fee of $10 is $75. This account comes with easy access to funds, competitive rates, and the option to write checks.

Features of the Wells Fargo Money Market Savings℠ account include optional overdraft protection, which will allows for funds to be taken from your savings account if you have insufficient funds in your checking account, secure online access for viewing balances and statements, and online savings tools such as automatic transfers and My Savings Plan® are available to help you meet your savings goals.

Wells Fargo Money Market Savings℠, Competitive Rates & Easy Access

My Savings Plan® is available to Wells Fargo savings account holders and is accessible through Wells Fargo Online®. Use My Savings Plan® to identify your savings goals, assign a goal to separate savings accounts, set the amount of money you wish to set aside, and use the progress bar to track your goals.

Other benefits to banking with Wells Fargo includes account alerts, which allows account holders to be notified if suspicious activity is detected, and Wells Fargo Mobile℠ banking, which lets customers access their accounts, check balances, statements, and even make money transfers from a handheld mobile phone/internet device.

In addition to offering consumer banking services, Wells Fargo meets the needs of small businesses and commercial-sized businesses through offering loans and insurance. A recent addition to the services provided by Wells Fargo is identity theft protection, where customers receive monitoring of public databases, the three main credit bureaus, and up to $10,000 in identity theft insurance. For more information, contact your local Wells Fargo retail branch.

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One of the best features of the Chase Money Market Savings℠ program is not only can your savings account be connected with your checking account, allowing your savings balance to be used to offset your checking account’s monthly service fee, but you can also link your savings and checking accounts for overdraft protection. That’s right, should you fail to properly balance your checking account and make a purchase which causes you to spend more than you have, Chase will automatically take the remaining purchase balance from your savings account, rather than charge you an overdraft fee (often ranging between $30 and $40).

Another nice feature that comes with a Chase Money Market Savings℠ account is that customers are automatically enrolled in the Chase Automatic Savings Program. This allows those of you who are reluctant to regularly set aside money for savings to automatically transfer a given sum on a given date. Customers can start saving money by selecting the amount they wish to set aside and how often to make a transfer by logging into Chase Online℠ and going to the ‘Payments & Transfers’ tab. Your new savings account from Chase will also provide many industry standard features, such as free online banking, paperless statements (online statements), and free email alerts, should there be fraudulent or suspicious activity with your account, Chase will automatically alert you.

Automatically save money via transfers from your Chase Better Banking® Checking account!

A few other things that you’ll want to be aware of, in regards to acquiring a Chase Money Market Savings℠ account, is (i) your interest rate, (ii) your transaction fees, and (iii) your monthly service fee. Your interest rate is compounded, and credited, annually based on your collected balance; account fees may reduce earnings; interest rates are variable, and are determined on a daily basis under Chase’s discretion. Transaction fees include a 3% exchange rate adjustment fee which is applied to debit card purchases and cash withdrawals made outside the U.S. and there’s a $2 fee for using an ATM that is not Chase owned and a $3 ATM fee for withdrawals made outside the U.S. The monthly service fee for this savings account is $12, unless you keep your minimum daily balance above $1,500, in which case your service fee is waived.

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