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I use a tax free bond fund for an emergency fund. Many of them will allow telephone transfers and check writing. So your funds are instantly available. You tend to get pretty good yield with them. But it depends on how often you dip into your emergency fund. Every check creates an entry on your income taxes. Most have $1000 minimums to open the account. There are also sometimes limitations on checks. No checks smaller than $500, etc. So you write the check to yourself and deposit it in your checking account.
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