Additional information of Elite Money Market Savings account
Money market accounts are a type of savings account that, in practice, make virtually no difference, plus they are equally protected by the FDIC, which covers up to $250,000 per account holder per bank.
U.S. Bank offers a variety of these types of accounts for its customers, such as the Elite Money Market Savings account, which pays your money from the first dollar.
Currently, the profitability of the account is very low, being much more profitable to invest your money in other equally safe products, even if your money is not available for a while, such as fixed-term certificates of deposit.
This account also charges a handling fee of $10 USD per month, which you can avoid if the balance deposited in it exceeds $10,000 USD.
In order to withdraw the money you want, you will have 6 free withdrawals per monthly billing period, which can be made by wire transfer or bank checks. If you want to make more withdrawals you will have to pay a $15 USD fee.
You can also use the balance in the U.S. Bank Elite Money Market Savings account as protection against overdrafts that exceed the available balance in your checking account.
Español: Cuenta Elite Money Market Savings