Money market account

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.

This article is about the type of bank deposit account. For the type of mutual fund, see Money market fund.
Part of a series on financial services
Banking
Types of banks
Lists of banks
Accounts · Cards
Accounts
Transaction (checking / current)
Cards
Funds transfer
Terms
Related topics
Financial market (participants)

    Money market accounts should not be confused with money market funds, which are mutual funds that invest in money market securities.

    Share this article:

    This article uses material from the Wikipedia article Money market account, and is written by contributors. Text is available under a CC BY-SA 4.0 International License; additional terms may apply. Images, videos and audio are available under their respective licenses.