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The primary difference between a money market account and a savings account is how you can access your money. With a money market account, you’ll typically get a checkbook and/or debit card.
Yet a high-yield savings account can also be a great way to store your money, and you can avoid the minimum balance requirements and monthly fees of some money market accounts. This story was ...
Final Take To GO. The bottom line is money cannot be directly lost from a money market account from any bank, credit union, online bank or financial institution.
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 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 ...
While you probably can’t use your money market account for everyday transactions without incurring a penalty, you can make occasional deposits or withdrawals throughout each statement period ...
The money market account resembles its checking account cousin in that you can write checks and also get cash at an ATM. The number of withdrawals you can make, either by check or debit card ...
With a money market account, you can also write a withdrawal slip at your bank branch to receive cash. You might be able to use your money market account to pay bills online, too, by permitting an ...
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