money market account definition

Like a regular savings account a money market account at a bank is insured by the Federal Deposit Insurance Corporation FDIC while one at a credit. Money market demand accounts are included in most counts of money supply.

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Money market account definition A bank or investment account with a fluctuating interest rate.

. So what exactly is a money market account. Money market accounts are a type of savings account that can be opened at any bank or credit union. This account provides interest that is sometimes higher than regular savings accounts interests. Despite its name a money market account MMA has nothing to do with the stock market.

For example a bank may require a minimum balance of 1000 and require that no more than 10. Money market funds typically invest in government securities certificates of deposit commercial paper of companies and other highly liquid low-risk securities. Usually the funds can be withdrawn on demand even though the account is not a checking account. A money market account is an interest-bearing account that you can open at banks and credit unions.

They usually pay a higher interest rate than traditional checking and savings accounts while allowing more access to your funds than a certificate of deposit. They are very similar to savings accounts. Money market accounts usually offer higher interest rates than checking accounts and also allow individuals to write checks and use a debit card. Here are the answers to the most frequently asked questions about MMA money market accounts.

A money market is an account issued by banks and credit unions. An MMA is defined as a unique savings account that generally earns you a. What is the Money Market Account. Money market accounts are sometimes called money market deposit accounts or money market savings accounts.

People search for a money market savings account definition more than 12000 times each month. A market can be described as a money market if it is composed of highly liquid short-term assets. A money market account definition often notes that a money market account functions a lot like a savings account with limited checking account privileges. There are features similar to what you find in savings and checking accounts.

A money market account is a special type of account offered by banks and credit unions. Money market accounts are a type of bank account that combines some of the benefits of checking and savings accounts. What is a money market account and how does it fit into your financial plan. You usually earn a.

A money market account is an interest-bearing account at a bank or credit unionnot to be confused with a money market mutual fund. Money Market Demand Account An account such as a checking or savings account that pays a certain low interest rate to the holder and from which funds may be withdrawn on demand. Learn to compare yield to other savings and investment vehicles and where the best money market accounts are to be found. Money Market Account is a deposit account which pays the interest depending on the current interest rates and gives a secure place for keeping the fund and take advantage of the features like interest on deposits writing checks and faster access to funds.

An account at a bank that pays a higher than normal relative to other bank accounts interest rate in exchange for a high minimum balance and a restriction on how many transactions may take place on the account in a given month.

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