Use this neutral checklist before taking any advertised money market rate seriously.
Label
Confirm APY versus interest rate versus projected yield.
Confirm APY versus interest rate versus projected yield.
Product
Identify deposit account, sweep account, or fund.
Identify deposit account, sweep account, or fund.
Access
Review withdrawal timing, transfers, and limits.
Review withdrawal timing, transfers, and limits.
Fees
Look for maintenance, advisory, transfer, and closure fees.
Look for maintenance, advisory, transfer, and closure fees.
Term
Check whether 4.9% is promotional, variable, or tiered.
Check whether 4.9% is promotional, variable, or tiered.
Protection
Read safety language from official sources, not social ads.
Read safety language from official sources, not social ads.