Money Market Eligibility Requirements-Charitable

Answered by:

Question:

What types of accounts are offered to charitable organizations? Can they open a money market account and what are the money market eligibility requirements?

Answer:

by Ken Golliher:
There are no restrictions on what types of accounts can be offered to "non profits" or charitable organizations. Eligible accounts include:

Non interest bearing DDA
Interest bearing DDA
NOW
MMDA
Other types of savings accounts
Time deposits

Answer:

by John Burnett:

Viewed from the opposite perspective, other than any restrictions your bank may impose, there are no eligibility requirements for a money market deposit account.