Personal Money Market Accounts
Savings accounts are powerful tools for customers looking to grow their cash reserves, no matter where they are in life. But with various types of savings accounts available to you, it can be hard to confidently choose the right one.
Stuck trying to decide whether a regular savings account or a Money Market Account is better suited to your needs? There are countless benefits to both types of savings accounts, and your friends at West Plains Bank and Trust Company want you to open an account with confidence, whether it’s your first or you’re transferring funds from another financial institution.
Why Choose a Money Market Account?
Personal Money Market Accounts are popular for customers looking for a higher interest rate to reach short-term saving goals, such as starting an emergency fund or saving for the down payment on a car or home. They offer increased flexibility over a regular savings account, letting you deposit funds whenever you’d like, and transfer or withdraw funds a set amount of times each month.
West Plains Bank and Trust Company also offers competitive Money Market Account rates for our customers as part of our commitment to your financial success.
Open a Personal Money Market Account at West Plains Bank and Trust Company
We believe in keeping banking simple for our customers and providing a higher interest rate, both values that are present in our personal Money Market Accounts. Let’s start with the basics.
Customers must maintain a monthly balance of $2,500 in their MMA, and a $100 minimum balance is required to open a Money Market Account. Should your account’s balance* go under the minimum, a $10 fee will be incurred. Once you’ve opened your account and raised your balance, you can sit back and watch as West Plains Bank and Trust Company’s competitive interest rates grow your funds!
Deposits to an MMA may be made in-person or through 24/7 digital banking, after the account has been opened.
Transfers from Money Market Accounts to another account or third party through in-person, mobile or digital banking are limited to six per monthly statement cycle. Debit transactions (withdrawals, checks paid, automatic transfers or payments from an MMA) in excess of six will incur a fee of $5 per transaction.
West Plains Bank and Trust Company is a member FDIC-insured bank, providing the highest level of security on deposits made into your savings account. Our banking team is dedicated to your financial success and your safety. Get started at any of our five full-service locations today!
*New accounts will not be subjected to service charges for a 30-day grace period.