Can I open a money market account with my stimulus package?

Question

My stimulus is only $600, but I want to open a money market account. Can I open an MMA with only $600? Where's the best place to open an MMA?

Answer 1

Talk to your bank.  Ask them about it.  I think the usual minimum deposit for a money market is $1,000 but each bank would set its own minimum.  You may have to check around.  Try www.bankrate.com to compare interest rates in your area.

Answer 2

Go to www.ingdirect.com and open up a high interest rate savings account. No minimums.