How to Save Money with an Online Money Market Savings Account
Online money market savings accounts usually have better interest rates than standard “brick and mortar” type banks. In order to open a money market savings account, go to websites such as emigrantdirect.com or ingdirect.com.
Follow the steps to open the account provided at the above websites. These online banks will require you to verify your identity, and to link your online money market savings account to another checking or savings account. The process will take a couple of days for set up because you will need to verify that you are the holder of the account to which the online money market savings account is linked. After set up, start transferring money regularly to your online money market savings account to start saving money. You can save for a rainy day, your emergency fund, or for investment purposes.
