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Money market accounts usually have higher interest rates than interest-bearing checking accounts or standard savings accounts. A money market mutual fund is an investment account.
Money market accounts (MMAs) Money market funds (MMFs) Provider. Banks and credit unions. Investment firms and brokers. Insurance. FDIC or NCUA up to $250,000
The money market account offered by Ally Bank is an example of an FDIC-insured money market account. The account earns a competitive yield, and it also comes with a debit card and checks.
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 covered by FDIC insurance is protected up to $250,000 per depositor, per insured bank for each account ownership category, according to the FDIC.
A money market account is a savings account, so you will not lose money based on fluctuations in the stock market. However, some money market accounts have monthly fees to watch out for. Which is ...
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