Corporate Money Market

  

The corporate money market account is no way different from the traditional money market account except for the fact that they are less safe and provide higher yields.

The corporate houses try to earn maximum return by investing in mutual funds and meeting brokers.

Instead of wasting time in transferring funds to the third party it is wiser to earn competitive interest rates by depositing money in the corporate money market account. In this way the businessman can concentrate on more important activities.

The following benefits are provided by the corporate money market account:

• Offers market competitive interest rates.
• Earns interest on working capital balances.
• Improves cash flow through safe and liquid investments.
• It provides access to balances whenever necessary.
• The corporate money market deposits minimizes the fees that are associated with transferring balances from one institution to the other.
• The corporate money market deposit reduces the time researching for alternative investments.
• The Federal Deposit Insurance Corporation insured the maximum amount of the deposits.

The corporate money market accounts are of three types:

• Corporate Money Market Savings Account : With the corporate money market savings account, one can earn interest on his entire balance. The corporate money market savings account can also be accessed with the help of Phone Bank, ATMs, Checks and Internet banking, 24 hours a day. The minimum balance required to open the corporate money market savings account is $1000.
• Corporate Money Market Investment Account : The interest rate for the corporate money market investment is tied to the national money market fund index. This account is insured by the Federal Deposit Insurance Corporation and earns rates of interest. There is also 24 hours access to the account. The advantage of the corporate money market investment account is that the earnings from this account increases with increase in savings. The minimum amount of money required to open the corporate money market investment account is $ 10,000. The average daily balance is also $10,000.
• Corporate money market investment premier : The highest interest rate on savings can be enjoyed through the corporate money market investment premier account. The interest rate is higher than that of the national bank money market investment account. As the balance increases in the account, so do the interest rates. The advantage of using the corporate money market investment premier account is that more savings is associated with higher returns. The account, like the previous accounts can be accessed 24 hours using the Internet or phone banking and ATM. The minimum amount of money required to open an account is $10,000.

For more details on the corporate money market one may view the websites like bremer.com, karlblovet.com, bankrate.com, wachovia.com etc.