As a modern woman today, you’re responsible for your own finances—and not just if you’re married. Wives, too, manage the monthly budgets at their disposal, whether it’s the household budget or the family income. Why not make sure that the money you want to save for a vacation grows a little faster than usual while you wait? If you look around online, there are numerous investment options available today. It depends on whether you really won’t need the amount you’re saving until your vacation or other planned use comes around, or whether you want to keep the option open to access it immediately in case of an emergency.
If you’re already looking for a new bank because you want to open an online checking account, there are offers from internet banks—also known as direct banks—that provide a free money market account along with the checking account. A money market account is a great way to save money easily—whether monthly or whenever you have extra cash to set aside. It has long since replaced the traditional savings account, but thanks to the rise of direct banks online, money market accounts have become very popular in recent years.
How does that work?
You’ll definitely need a checking account as a so-called “reference account” if you want to open a money market account anywhere. However, you don’t necessarily have to open a new checking account—your existing one is perfectly sufficient. It’s much more important to compare the offers from the various banks, as they can differ significantly from one another in several respects:
- Daily Interest Rate
- Maximum Investment Amount
- Minimum Deposit
- Security
- Interest Rate Guarantee
This works very well on information websites and comparison tools, where you can get a good overview of the terms and conditions offered by individual providers. It’s also important to note that overnight deposit accounts are free to maintain. Due to their structure, direct banks can offer better interest rates, which is why it’s particularly worthwhile to compare options and open an account online.
Call Money with Initial Balance
If you find an offer that includes a starting balance, you can look forward to a good return right away. That’s because the bonus money is added to your investment amount and earns interest, so you’ll see a higher profit right from the first year. If you’re interested in a money market account with a starting balance or bonus, there are various banks that offer this—you should check them out first. This could be as little as 20 euros, or as much as 30 euros, depending on the investment amount. Deposit insurance is required by law and is guaranteed by a deposit insurance fund. You can open a money market account using the comparison tool; in most cases, the link to the provider is located right next to the offer.
