Money Market Accounts
A Money Market Deposit Account (or "MMDA") is a class of savings accounts offered by banks and other financial institutions that generally pays interest rates that are equivalent to, and competitive with, money market mutual funds.
PacTrust Bank offers two types of MMDAs:
Choice Money Market
The benefits of a tiered-rate savings account, with the added benefit of limited check-writing capabilities. The ultimate in accessible savings! Ask your local PacTrust Relationship Banker for more details.
Federal regulations require banks to limit the way withdrawals may be made from a money market deposit account. Withdrawals in excess of these limits may result in a fee or account closure. See our Personal Account Deposit Agreement and Disclosures for more details.
FDIC Insured - Your deposits are now federally insured to at least $250,000 per depositor by the Federal Deposit Insurance Corporation (FDIC), and your retirement funds on deposit at PacTrust Bank are separately insured by the FDIC up to an additional $250,000.
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