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M&T Bank’s e-Money Market Account

M&T Bank is currently offering 1.75% APR on their e-Money Market accounts. While the interest rate is right around average in the current economy, the primary advantage of having an e-Money account is that your principle isn’t locked in for a specific period of time. That alone can be extremely helpful for families or individuals trying to earn interest on their savings while maintaining liquidity in case of unforseen occurences.

In most cases, traditional money market accounts will place limits on how many times the account holder can withdraw money each month. This can be quite inconvenient for people with varying expenses such as a rental property owner who occasionally need to tap into personal savings to fix or repair rental properties. M&T Bank’s e-Money Market Account gives the account holder convenient access to their funds when they want or need them while earning interest up until they are withdrawn. Funds can be accessed at over 1600 ATM’s, over 650 banking branches and even M&T’s Telephone Banking Center.

Just like your regular savings or checking account, the money deposited into an M&T Bank e-Money Market Account is insured by the Federal Deposit Insurance Corporation (FDIC). The FDIC is an fully independent agency of the federal government created in 1933 due to thousands of banks which had failed in the 1920s and early 1930s. Not a single person has lost money in a bank or credit union that was insured by the FDIC since it’s inception.

If you’re interested in opening an account or just want to learn more about M&T Bank’s e-Money Market Account, visit M&T Online Banking.