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Path: utzoo!linus!gatech!akgua!dlp
From: dlp@akgua.UUCP (D.L. Philen [Dan])
Newsgroups: net.invest
Subject: Re: M-L CMA info request
Message-ID: <1723@akgua.UUCP>
Date: Tue, 8-Oct-85 08:25:35 EDT
Article-I.D.: akgua.1723
Posted: Tue Oct  8 08:25:35 1985
Date-Received: Thu, 10-Oct-85 06:16:22 EDT
References: <4300014@inmet.UUCP>
Organization: AT&T Technologies/Bell Labs, Atlanta
Lines: 24


About ML-CMA accounts:  My wife and I have been using one as our regular
checking account for several years now.  We deposit all our checks to it
and write all our checks (groceries, laundry, bills etc) from it.
We think it is great.  We get money market interest (what bank does that)
and we have the advantage of a checking account.  The rule is a minmium
of 20k deposit to open an account (they may have changed that by now)
but you only have to have the 20k there when you open the account.
You can withdraw the 20K after you open the account if you want to.
Also you can bounce protection by drawing against securities in the
account.  This is nice when your checks pass in the mail ie. the
savings and loan deposits your mortgage a day before your paycheck is
posted.  Your local bank will barf at that one.  I don't have much
nice to say about local banks.  My opinion is that in our local area
all the local banks are in colusion.  Ever try to shop interest rates
and get a true story from them.  Enough of the soap box!.  The bottom
line is I don't have anything bad to say about ML-CMA.  We have been very
pleased with it.  While we maintain a SMALL amount in a local bank to keep
an account open, we use ML for everything else.  Great service.  No problems!

                           Remember the call of the  week-end shopper,
                                           "CHARGE!"

                                    akgua!dlp