Ford Money Market Account

elboberino · November 6, 2003

So my old man sent me this form in the mail for a Ford Money Market account. I filled it out, sent a check for a grand and now have a new account with Ford paying 2.53% interest. I know I will probably get burned for this at least once, and I am sure my warning level will go up but hey, the interest they were offering was 4 times better than the interest I was getting a my bank back home. According to my records, I made $0.53 last month on my old money market account. At that rate I'll be rich by the time my great-great-great-grandkids write an article like this on a forum about hover-trucks. Anyways, I just thought I should let everyone know and if anyone knows of a GM Money Market Account paying a higher interest rate, definitely let me know 'cause I can pull the money out and move it.

MCourson · November 6, 2003

Hey I wont flame ya. I look at it this way, your getting money out of Ford.

elboberino · November 6, 2003

Hey I wont flame ya. I look at it this way, your getting money out of Ford.

Ancient Chinese man say, "Good philosophy."

naskie18 · November 6, 2003

Anyways, I just thought I should let everyone know and if anyone knows of a GM Money Market Account paying a higher interest rate, definitely let me know 'cause I can pull the money out and move it.

You ever looked at something like GMAC Demand Notes or GMAC Smart Notes? I don't have a clue what a money market account is or how it works, but I've had my money in GMAC Demand Notes for years, its currently paying 2.75% interest. Basically, it works like a checking account that pays interest, except that you can only make deposits of $50 or more and you can only write checks for $250 or more. I don't remember how Smart Notes works, I was looking into it a couple years ago, but I don't remember anything about it.

www.demandnotes.com is the website, if you want to look into it.

scooter70 · November 6, 2003

I've had mine open for a few years now. A couple of years ago, they were paying 3.5% if you had under $15k in there... those were the days!

Note: I get my whole paycheck from Ford, so I get more than just a few % a month out of them... If anyone else wants the forms to open an account, I think that you (or I) might get a few bucks for refering a friend.

naskie18 · November 6, 2003

I've had mine open for a few years now. A couple of years ago, they were paying 3.5% if you had under $15k in there... those were the days!

Yeah, back in the day my demand notes used to be around 4%....boy I wish it was still that high now

seadoons · February 6, 2004

To everyone out there - a money market account is an awesome idea - it is like a savings account in that your money is liquid (accessible) but the interest rates are much higher. I am going to open one with Ford or demand notes.