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Edward Jones Money Market

Posted on May 18, 2010.
Edward Jones Money MarketWhat are the penalties or closing costs of a money market account?

I want to leave my job and have a small sum of money in an account at Edward Jones money market. I want to use that money to invest in my new career. What are the penalties or the percentage charge to close my account? Or am I better move on behalf of something comparable to my bank, if such a thing exists? Thank you!

The penalties and costs of closing various types of accounts vary widely from company to company. some have no penalties or fees and others have large ones. Your best option in this case is really to call Edward Jones and ask them directly. They can pull up the type of market Mone account you have and determine whether or not there is no penalty.

But just based on the wording of your question, it seems likely that your money market account is in a retirement account. Is this the case? if it is then that you are looking for just 10% of the federal government and the tax charged for early withdrawal.

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