How money market accounts differ from savings and checking accountsWhile money market accounts are similar to savings and checking accounts in a lot of ways, there are a few ways in which they differ.
In comparison, money market accounts offer good interest rates, and the best money market accounts can have interest rates over 5% APY.
Additionally, the rate you get on your money market account is frequently dependent on how much money you have in your account.
Just like savings accounts, money market accounts frequently put limits on how many times you can withdraw money per month.
Comparing MMAs to other investment optionsWhen comparing money market accounts to investing, money market accounts have two big advantages: security and liquidity.
Persons:
We've, Banks, Bobbi Rebell, it's, Rebell
Organizations:
Financial, FDIC, Federal
Locations:
Chevron