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Deposits are insured. Money market accounts are insured by the FDIC or NCUA for up to $250,000 per person, per account. Dig deeper: High-yield savings account vs. traditional savings account: ...
However, you can also set up direct deposit to go to your money market account and transfer money needed for living expenses to your checking account. This can help you save extra money instead of ...
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.
Money market accounts offered at banks that are insured by the Federal ... certificates of deposit (CDs) and checking accounts. A money market account covered by FDIC insurance is protected up to ...
A money market account is an interest-bearing account you can open at banks and credit unions. Like a savings account, they are a type of deposit account for savers, But a major difference between ...
When you make a deposit in a money market account, it does more than just sit there. It grows. The average money market account rate is currently 0.48 percent, according to Bankrate data .
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