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While money market accounts are great for saving and managing your money, it’s important to remember that a money market account is not considered an investment tool, and to build a long-term ...
Money market accounts operate similarly to a savings account, and quite a few come with tools you would associate with a checking account, such as a debit card and check-writing abilities. You ...
A money market account is a type of interest-bearing account that combines the strong rates of a high-yield savings account with the features of a checking account. MMAs offer rates of 4.5% APY or ...
Unlike money market funds, money market accounts carry FDIC protection. All in all, money market accounts function more like savings accounts, whereas money market funds are investment funds .
A money market account (MMA) or money market deposit account (MMDA) is a deposit account that pays interest based on current interest rates in the money markets. [1] The interest rates paid are generally higher than those of savings accounts and transaction accounts; however, some banks will require higher minimum balances in money market accounts to avoid monthly fees and to earn interest.
A money market account combines the features of a savings and checking account so you're able to earn a return on your money while also writing checks and taking cash withdrawals against your balance.
Both money market accounts and money market funds are great vehicles for growing your money. See how they compare and learn about the pros and cons of each option.
Money market accounts are often thought to earn higher interest rates than savings accounts, but that’s not always true. At traditional banks, money market accounts can earn barely more than a ...