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Money market accounts provide exclusive superb combination regarding security and set access to cash. The money in a money market account is available whenever you want it, without the penalties and hassles associated with a CD. At the similar occasion, the money is safe, along with deposit money market funds carrying whole FDIC insurance. As with all bank accounts, although, the rates on money market accounts vary, and moving your money out of 1 bank to other could make you a higher rate.

Difficulty: Moderate

Instructions

2 Pull a copy regarding your most recent statement from your existing money market account. Look with the buyer service phone number or address.

3 Call up the customer assistance number to the bank, or write a letter using their customer service address. Inform the deposit that is you wish to close your account. Ask that is a check for the proceeds be sent to your home address, or transferred electronically to the new consideration. If you would like to have the resources transferred electronically to the new account, be truly to provide your current bank with your new bank's name and address, and the routing and consideration numbers about the new account.

References

Bankrate.com: Money Market Accounts

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