Money Market
A high-yield account for the seasoned saver.
What is a Money Market Account?
Pairing high-yield interest with easy access to your cash, Money Market Accounts are great short- and medium-term savings vehicles for experienced savers looking to build or secure their nest eggs. A cross between a checking account and a savings account, earn interest on your balance while maintaining liquidity. Write checks right from your account to transfer funds or pay for larger planned or unplanned expenses.
How does a Money Market Account work?
At Field & Main, we offer interest rates below or above $2500 on our money market accounts—the higher your balance, the more you’ll earn!
Initial deposits for your Money Market Account are low—only $25—and when you maintain a balance of $2,500, we’ll waive the $5 monthly fee. With up to 6 free withdrawals or transfers each month ($10 per transaction after 6), this account is perfect for individuals looking to balance interest with accessibility.
What are the benefits of a Money Market Account?
Save money.
- No monthly service fee for balances over $2,500 (only $5 for balances under $2,500)
- Up to 6 free withdrawals or transfers each month
- Earn tiered interest on your balance—the more you save, the more you earn!
Convenience.
- Free debit card for purchases and ATM withdrawals
- Check writing capabilities provide an additional payment option
- Free online banking, eStatements, bill pay, and mobile banking with mobile deposit
- Easy transfers from your Field & Main Checking Account to help you grow your savings faster
Peace of mind.
- Never worry about overdrafts: link your Money Market Account to your Field & Main Checking Account to cover overdrafts up to 6
- Set up automatic transfers from your checking account to fund and keep your savings plan on track
How do I qualify for a Money Market Account?
To open a Money Market Account, you’ll need to be at least 18 years of age. You’ll also need to provide:
- A $25 initial deposit in the form of cash or check when opening an account in person
- Online only is provided a routing and account number to fund from an existing account
- Your Social Security Number, address, and phone number
- A valid, state-issued ID
Accounts can be opened online or in person. The online account opening process is quick, easy and may take about 10 minutes.
Open a Money Market Account with Field & Main Bank
Looking to open a savings account with great interest? Apply online or visit one of our convenient regional branches in Henderson, Lexington, Evansville, or Cynthiana to get started today!
Explore Our Other Savings Account Options:
Simple Savings Account – A simple way to save with low fees and competitive interest.
Savings Accounts FAQs
No matter what your goals are, saving should be simple. Below are some answers to the most common questions we receive about savings accounts.
Do savings accounts cost money, or, are there fees?
To avoid any fees, you simply need to keep a balance of at least $100 in your account and be sure to not make withdrawals more than six times per month. A maintenance fee of $1.00 will be imposed every month if the balance on the account falls below the $100.00 minimum. Savings accounts must have fewer than 6 withdrawals or transfers a month. An excess withdrawal fee of $2.00 will be charged for each withdrawal in excess of 6 per month.
Do savings accounts offer check writing capabilities?
Our Money Market accounts offer check writing capabilities, but our Simple Savings and Holiday Helper do not.
Do you offer a savings account for kids, or a young savers account?
We do not offer a young savers account; however, our Simple Savings Account is perfect for kids who are savvy savers! A minimum of $25 is required to open the account, and after the first month, a $100 minimum is required. A maintenance fee of $1.00 will be imposed every month if the balance on the account falls below the $100.00 minimum.
How many withdrawals are allowed per month?
You are allowed 6 withdrawals per month from your savings account. After 6 withdrawals, there is a $2 fee per withdrawal. The 6-withdrawal limit would include any automatic payments that are set up, debit card transactions, and automatic funds transfers or sweeps into another account.
Will the interest rate change on my savings account? What is the rate?
Our rates are subject to change at any time. Please call a Relationship Banker for the latest savings rates.
How is interest paid?
Interest will be compounded monthly and credited to your account monthly.
Can I get a debit card with a savings account?
You may have a debit card with our Simple Savings or Money Market accounts which you can also use to withdraw from an ATM. Keep in mind however, that any time you use your debit card it counts toward the 6-withdrawal limit for savings and Money Market accounts.
Can I set this account up to cover my checking account in case of an overdraft?
Yes, there is a simple agreement we will need you to sign to get this set up. Keep in mind however, that any time you use your debit card it counts toward the 6-withdrawal limit for savings and Money Market accounts.
Start Saving Simply
Field & Main Bank® was designed to feel different. Because of that, setting up your savings account is effortless and streamlined. So give us a call at 1-888-831-1500, come in and see us, or contact us!
