Money Market Account

Market Terms

We don't know everything about the markets.  We're just devoted to learners.  Taken from those smarter than ourselves, here's how we define Money Market Account.

A type of account offered by banks and credit unions that generally pay higher interest rates than regular savings accounts.  They also typically include higher insurance protection and check writing/debit card privileges.  Though they may pay better rates, these accounts do come with certain drawbacks.  For instance, they may also include limited transactions, more fees, and a minimum balance requirements (with additional fees for falling below the minimum balance required).