If you want to close a money-market-fund account, you should do it by phone rather than by using your check-writing privilege, Donoghue's Moneyletter says. This is because it will be difficult for you to determine the exact size of your money fund will be when your check clears. If you write or call the fund to close out your account, you can simply tell the fund to send you the balance, leaving the accounting up to the fund.
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