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#Money market account license

Insurance services are provided through First Republic Securities Company, DBA Grand Eagle Insurance Services, LLC, CA Insurance License # 0I13184, and First Republic Investment Management, Inc., DBA Eagle Private Insurance Services, CA Insurance License # 0K93728. Brokerage services are offered through First Republic Securities Company, LLC, Member FINRA/ SIPC. Trust and Fiduciary services are offered through First Republic Trust Company, a division of First Republic Bank and First Republic Trust Company of Delaware LLC and First Republic Trust Company of Wyoming LLC, both wholly owned subsidiaries of First Republic Bank. Investment Advisory services are provided by First Republic Investment Management, Inc. Once you understand the types of accounts most banks offer, you can begin to determine which option might be right for you.Privacy | Security & Fraud Prevention | Accessibility | Terms & Conditionsį provides information to clients about their accounts and financial services by First Republic Bank and its affiliates.īanking products and services are offered by First Republic Bank, Member FDIC and Equal Housing Lender You may want to discuss which type is best for you with your tax advisor before choosing your account. Both types of IRAs offer investment flexibility, tax advantages, and the same contribution limits. You pay no taxes on any investment earnings until you withdraw or “distribute” the money from your account, presumably in retirement. Traditional IRAs offers tax-deferred growth potential. Investment earnings are distributed tax-free in retirement, if the account was funded for more than five years and you are at least age 59½, or as a result of your death, disability, or using the first-time homebuyer exception. The Roth IRA offers tax-free growth potential. These accounts come in two types: the Traditional IRA and Roth IRA. These plans are useful if your employer doesn’t offer a 401(k) or other qualified employer sponsored retirement plan (QRP), including 403(b) and governmental 457(b), or you want to save more than your employer-sponsored plan allows. Individual Retirement Accounts (IRAs): IRAs, or Individual Retirement Accounts, allow you to save independently for your retirement.Some money market accounts also allow you to write checks against your funds, but may be on a more limited basis. Money market accounts can have tiered interest rates, providing more favorable rates based on higher balances.

Both savings and money market accounts have variable rates.

Money market account: Money market accounts are similar to savings accounts, but they typically require you to maintain a higher balance to avoid a monthly service fee.

Be sure you will not need the funds before the end of the CD term, as early withdrawals may have financial penalties. CDs often have higher interest rates than traditional savings accounts because the money you deposit is tied up for the terms of the CD.

Certificate of Deposit (CD): Certificates of deposit or CD, allow you to save your money at a set interest rate for a pre-set period of time - which can range from a few months to several years.

Understanding the account’s terms and benefits will allow for a more informed decision on the account best suited for your needs. Savings accounts vary by monthly service fees, interest rates, and account features. Interest rates can be compounded on a daily, weekly, monthly, or annual basis.

Savings account: A savings account allows you to accumulate interest on funds you've saved for future needs.

To determine the most economical choice, compare the benefits of different checking accounts with the services you actually need. Accounts may have different options to help avoid the monthly service fee. Customers can typically use a debit card or checks to make purchases or pay bills.

Checking account: A checking account offers easy access to your money for your daily transactional needs and helps keep your cash secure.

Here are some definitions to help you navigate your banking needs: To make these decisions, it’s helpful to first understand the differences between the most common bank account types. Should you choose the basic checking option or an account that earns interest? Do you want the convenience of a bundled checking and savings account or the higher returns of a money market account?

When you go to a bank to open a new account, you will have a variety of account types and features to choose from.