Online Money Market Accounts

Rani · #1 (**permalink**) 09-15-2005, 04:30 PM

I'd like some advice pertaining to the following scenario. I have 200K and want to start two 100K Money Market accounts with two different banks. I'm doing this in order to be insured for the entire 200K since FDIC only insures 100K per account per insured bank. Which banks do you recommend? I have read the Emigrant vs. ING thread. They both sound okay to me (disallowing Emigrants crappy customer service). Are there any other banks people reccomend? Does anyone have any experience with MetLife?
Thanks,
Rani

Rani · #2 (**permalink**) 09-15-2005, 04:33 PM

Oh yeah, I'd also like to know who offers downloadable Quicken or Microsoft Money statements/qif files.

Fern · #3 (**permalink**) 09-16-2005, 12:58 PM

I opened up on online monkey market acct with Western Financial Bank in California. They're guaranteeing 3.5% thru year's end and everything seems fine. They have no minimum deposit.

gakline · #4 (**permalink**) 09-16-2005, 01:20 PM

Quote:

Originally Posted by Rani

I'm doing this in order to be insured for the entire 200K since FDIC only insures 100K per account per insured bank.

You might want to think about splitting this up into a third or fourth account. Because any interest you would earn over the 100K would not be insured.