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Knowledge Base Article

Money Market Accounts: How Cards Work at an ATM and Point of Sale (POS)

How do they work?

Using a Money Market Account (MMA) card at the ATM:

MMA cards are issued to access funds on your MMA account through the ATM.

  • To access funds from MMA with a MMA card, you must select checking.
  • If you select savings the system pulls from the primary savings account.

Using an ATM card at the ATM to access funds in a MMA:

  • When using an ATM card and you select checking, the system will automatically pull funds from your standard checking account.
  • When using an ATM card and you select checking, but do not have a standard checking account, funds will withdraw from the MMA, because MMA is a checking account type.
  • When using an ATM card and you select savings, funds will be withdrawn from the primary savings account.

Using a Debit card at the ATM:

MMA accounts are independent from the your regular checking and savings accounts. Therefore, when a debit card is used at the ATM, if funds are not available in checking, the system will not pull from MMA.

  • When using a debit card and you select checking, the system will automatically pull funds from your standard checking account.
  • If you select savings the system pulls from the primary savings account.

Using Overdraft protection for a Money Market Account:

  • Upon request, MMA can be set up as protection for an eligible account. The MMA is not automatically set up as overdraft protection.
  • MMA is not an eligible account to be covered by Overdraft protection. 

POS transactions using an ATM or Debit card

POS transactions made with a debit card do not allow withdrawals from savings. When a POS transaction is made using a debit card or ATM card, the system will first look for the standard checking account to withdraw from. If no funds  are available in checking or you do not have a standard checking account, the system can pull from the MMA. This is because MMA is a checking account type.