How safe is it to put money into a money market account?
79972
Money Market Accounts are very safe.\n\nMany money market accounts place restrictions on the amount of transactions you can make in a month (such as five or less). Furthermore, you usually have to maintain a certain balance in the account to receive the higher rate of interest. Some banks require at least $500, others require a much higher balance.\n\nWhat Is a Money Market Fund?\nIn short, it is a mutual fund that invests solely in money market instruments. Just like a mutual fund, it issues redeemable units to investors and must follow guidelines set out by the SEC. A money market fund's net asset value (NAV) is also determined at the end of each day.\n\nMoney market funds, however, are completely different from money market accounts and money market instruments. Money market accounts are basically special kinds of savings accounts that you can open at any local bank, and a money market instrument is a form of highly-liquid short-term debt security. Furthermore, unlike a bank account, returns from money market funds are not guaranteed even though they are lower risk. Their stability rests solely upon the investments that make up their portfolios and it is possible for the fund to lose money, although the odds of this occurring are rare.
552625
try your bank its safer there.
933938
You know there is a minimum amount you have to invest in money market funds. Probably at least 18,000 pounds or 10,000 US
522545
Use proper English if you want people to help understand you. IF you don't give details, how do you expect someone to help you. I bet you are one of those who claim to have a large bank account frozen so you can transfer the money into a open account in the US to rob someone. Old trick. Give it up. They are not that many stupid people here.
297113
You can open an account with any bank if you have the money. As long as you dont have bad checks.
810955
Its is relatively safe. The one thing is is that one password into Google CHeckout (GC) will give people access to your info. But Google Checkout is very secure, and I use it myself, so I would go ahead.
822546
The money can go into your checking account. Its really a great system, the deposits clear within 24 hours and the fees are minimal.
175245
Yes, the money is safe. However, it is in a money market savings account, meaning it is earning a low rate of return compared to other investments (although not necessarily compared to other money market accounts).\n\nThe lawsuit will not endanger any money that you have invested (or are planning to invest) into an Express IRA account. However, you should evaluate whether or not this is a good investment for you.\n\nThe issue that has brought about this lawsuit (other than Attorney General Spitzer's gubernatorial campaign) seems to be the fact that many of these accounts lose money after fees. If your account is (hypothetically) earning 3% per year, that may not offset the account fees, depending on how much is invested. A net loss on the account after fees is still likely to provide you with a tax benefit, but you should look for an alternative IRA investment, which will provide real investment gains in addition to the tax benefit.
197121
This is true. You have to have a real bank account for this type of thing. If you don't have one already, go talk to your bank. If you do, you can feel secure using it for this purpose. I have even set up a "sweep" account with my bank, whereby all money that is deposited to the account is automatically transferred to my "real" account each night. That way I have limited exposure to the risk of an unauthorized withdrawal.
651441
I'm sure it's possible, legal and safe but a normal bank will give you a hard time if you don't at least show up in person to open the account.  They'll also give you a hard time if you don't give them a SIN number.  Foreigners don't get SIN numbers - they get TIN numbers - they're the same thing basically so maybe the bank would be happy if you gave them one of those.
606147
The person that you sent the money order to will still be able to cash.  As long as that individual have id, they should be fine, and long as the money order is not fake, there should not be any problems with them cashing the money order.
604447
I don't have qany experience with that site myself, but does it meet all the requirements to be safe? You can read my article on how to avoid internet money scams at:\nhttp://www.webcashlink.com/articles/work-from-home.html
873544
You cannot save every sucker from him/herself. But bankers could be more careful about wiring money to Nigeria. It's amazing how many bankers ask no questions when victims of scam artists ask to wire $1 million, more or less, to an unknown account in a Lagos bank.
12958
According to this site, "The BSA requires banks to maintain records of funds transfer in amounts of $3,000 and above."\n\nSo, if you deposit like $2500 or something, you should be fine.  Just don't deposit like $2999, or that'll REALLY set them off (I think they call that "smurfing" and they look out for it.)
1009475
Don't do this.  The cost of changing dollars into the currency of your choice will be very expensive and the net benefit will be very small.  Also remember that unless you have a significant amount (e.g. more than the equivalent of $10,000) you won't be able to keep it in an interest bearing account without incurring fees.\n\nIf you're committed to doing this then I'd probably put it in the Euro.
493351
It's definitely legal. It's called the ForEx market and there are scams on TV trying to sell programs that supposedly tell you when to buy and sell various currencies. Anyway, it's probably the riskiest market possible for trading. Also, you lose lots of the money in comissions, etc, so you're probably better off just buying a bond.
325645
Safety - safe, FDIC insured up to $10K. Unless someone bombs your bank, the money is safe.\n\nGrowth rate - this SUCKS for savingts accts. They give less tthan 1% return. If youre interested in savings accts, use Orange (ingdirect.com) who is offering 3.95% currently - way better, but still not as good as a CD. \n\nInflation Protection - none. Inflation grows faster than the measly 1% return youre getting...\n\nLiquidity - excellent! You can get at it whenever you need to witth an ATM card! \n\nTax avoidance - none. Get sent a 1099 at the end of the year. However, in order to get dinged on your taxes, you need to make more than $600...at 1% interest, that means that you have $600,000 in a savings acct...doubtful at this point.\n\nWhat really irks me is that they take your money and lend it to people, charging 15 - 19%, pocket 14-18% and give you 1%. BS!!!