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MMSA FAQs

What is the Money Market Savings Account?

The Money Market Savings Account (MMSA) is a savings account that offers the potential for higher earnings. The account requires a minimum $2,500 to earn dividends, has
a tiered rate structure, no term restrictions and provides limited access to funds.

What are the MMSA tiers?

The MMSA has four tiered rates that may change weekly.

• $2,500--$9,999
• $10,000--$24,999
• $25,000--$49,999
• $50,000 and over

Dividends are earned daily and credited to the account at the end of each calendar month. Due to the number of days in each calendar month, some months may see higher earnings than others. In addition, the MMSA rate is subject to change on a weekly basis.

What if my balance falls below the $2,500 minimum?

Funds in MMSA with balances below $2,500 will not earn dividends for each day they remain below the minimum.

How can I access my account and what are the limits for transfers and withdrawals?

You may write up to three MMSA checks each month. You can also access your account by using Navy Federal Online^® Account Access, an ATM or by phone.

Federal regulation allows a maximum of six transfers and/or withdrawals per calendar month—up to three by MMSA check, and any online or pre-authorized transfers (including those through the Automated Clearing House (ACH), by telephone or fax request). Checks are counted by the date they are paid, not the date they are written.

There are no monthly limits on the number of transfers or withdrawals made in person at a branch, through an ATM or by mail.

What if I exceed the number of authorized transactions within a calendar month?

We’ll honor any checks or ACH debits that exceed the monthly limit, but an “excessive item fee” per check will be debited from your account. Electronic systems, such as Account Access, will block the over-limit transactions altogether. By law, Navy Federal must monitor MMSA activity. Excessive transactions that are limited by the regulation could result in the incurring of fees and/or account closure.

What happens if I write a check for an amount that exceeds my account balance?

The check will be returned and an overdraft fee in the amount shown in the current Schedule of Fees and Charges would apply.  Funds will not be transferred from your other accounts or NAVchek^® Overdraft Protection/Line of Credit to pay for the overdraft.