A type of account offered by banks and credit unions that generally pay higher interest rates than regular savings accounts. They also typically include higher insurance protection and check writing/debit card privileges. Though they may pay better rates, these accounts do come with certain drawbacks. For instance, they may also include limited transactions, more fees, and a minimum balance requirements (with additional fees for falling below the minimum balance required).
Money Market Account
Market Terms
We don't know everything about the markets. We're just devoted to learning. Taken from those smarter than ourselves, here's how we define Money Market Account.