Anthony1971
DIS Veteran
- Joined
- Mar 11, 2005
The benefit for Wells Fargo is to sell you product and move you to a paid advisor if you don't have one already. Otherwise they are fine as they are FDIC insured. Money Markets are NOT FDIC insured but have a very very very..... low chance of losing money but there is still risk. I will not suggest against anything but my experience with big name branch banks etc that offer special rates eventually go away and you will need to open a new account elsewhere. In the case of Brokered account you will need to call to have the money transferred not an online transaction so you will get a sales pitch. If you plan on keeping your cash as cash there are some very close online bank CD rates to what is offered.