transferring money from one bank into a money marketaccount at another
Huntington Bank is offering a 13 month at 5%+ money market for NEW money $25K minimum.
They say it’s completely liquid and can be withdrawn anytime. I have that much in “Rainy Day” funds in Baxter Credit Union doing nothing. What’s the downside..if it’s truly liquid. Are there tax problems if i need to access it?
Terry Says
YOu would open a new account there and have your Credit Union WIRE the money into it. But first, make sure it is a FEDERALLY insured CD that you’re buying at this bank. And get it in writing that you can withdraw some or ALL of the money at any time within the 13 month term AT NO PENALTY OR LOSS OF INTEREST.
