Ally Money Market - Checking+Savings+Debit Card?

[stephenson]

cheesehead, which of the Fidelity MMF pays 5.2? Thanks!

 

[COcheesehead]

cheesehead, which of the fidelity mmf pays 5.2? Thanks!

fzdxx

 

[stephenson]

OK - just pulled quick comparo screen shots on both ... different mix. Doesn't look like FZDXX can be used as core position, but FZFXX can.

So, I could be moving unused cash into FZDXX for a .2 or so premium over SPAXX?

 

[COcheesehead]

OK - just pulled quick comparo screen shots on both ... different mix. Doesn't look like FZDXX can be used as core position, but FZFXX can.

So, I could be moving unused cash into FZDXX for a .2 or so premium over SPAXX?

It can be used as a core substitute. I have to do manual buys, but once your core is depleted, Fido will pull from the money market. So sells are automatic. So I don’t keep anything in core, just buy FZDXX as needed.

 

[Dtail]

OK - just pulled quick comparo screen shots on both ... different mix. Doesn't look like FZDXX can be used as core position, but FZFXX can.

So, I could be moving unused cash into FZDXX for a .2 or so premium over SPAXX?

When the cash accumulates from my brokered CD's, I do move it to FZDXX. It takes about 1 minute.

 

[euro]

When the cash accumulates from my brokered CD's, I do move it to FZDXX. It takes about 1 minute.

Doesn't FZDXX have a 100k minimum?

 

[Dtail]

Doesn't FZDXX have a 100k minimum?

Yes it does, but just when one establishes the fund. There is no minimum balance once one establishes the 100k amount.
There are a few posters here who stated that Fidelity closed their FZDXX account due to possibly low balances.
Not for me, as one example there are 974 dollars in one FZDXX account and that balance has been there for years.

 

[braumeister]

Also, it only needs $10K to open in an IRA.

 

[MJ]

I've also been a long time customer of Ally. I don't believe it was mentioned here but their money market has been 15 points higher than their savings for quite awhile. In the past, their MM was much lower. I have wondered if they "bank" on existing customers not knowing or noticing the higher rate while marketting their higher MM rate to new customers. Just a thought.

 

[euro]

Yes it does, but just when one establishes the fund. There is no minimum balance once one establishes the 100k amount.
There are a few posters here who stated that Fidelity closed their FZDXX account due to possibly low balances.
Not for me, as one example there are 974 dollars in one FZDXX account and that balance has been there for years.

Good to know - thanks!