banking

What is a money market account?

 

What is a money market account?

The Bankrate.com financial term of the day is: "Money Market Account."

A money market account is a bank account that pays interest and offers you a little more access to your money -- or liquidity -- than a certificate of deposit would. You're allowed to make a limited number of withdrawals, including by check. Typically, there's a minimum balance you need to maintain in a money market account if you want to keep earning that same interest and avoid paying fees.

Want a bank account that earns a return on your money and offers more flexibility than a CD? A money market account may be what you're looking for.

To find a bank account that has what you're looking for, visit the Checking & Savings section at Bankrate.com.

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