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What is a money market savings account?

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29th Nov 2009 by cocacolabuffet

A money market account is a type of savings account offered by banks and credit unions just like regular savings accounts. The difference is that they usually pay higher interest, have higher minimum balance requirements, and only allow a limited number of withdrawals per month. Another difference is that, many money market accounts will let you write up to a limited number of checks each month. A money market account is invested in short-term, low risk money market instruments.

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6th Nov 2009 In Investing 1 Answers | 474 Views

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