A money market account is a type of savings account that offers higher interest rates than a traditional savings account. Money market accounts are offered by banks and other financial institutions, and they typically have higher minimum deposit requirements and balance requirements than other types of savings accounts. Continue Reading Below
A money market account is a type of savings account that offers higher interest rates than a traditional savings account. Money market accounts are offered by banks and other financial institutions, and they typically have higher minimum deposit requirements and balance requirements than other types of savings accounts. The interest rates on money market accounts can vary depending on the current market conditions and the specific terms of the account. Money market accounts may also offer limited check-writing capabilities and ATM access. In general, money market accounts are a good option for consumers who want to earn a higher return on their savings while still having access to their money. However, it is important to carefully compare the terms and fees of different money market accounts before choosing one.
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