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Money market accounts (MMA) are bank deposit accounts and similar to savings account in some respects. Like regular savings...
Money market accounts (MMA) are bank deposit accounts and similar to savings account in some respects. Like regular savings accounts, MMAs are insured by the FDIC and may limit the number of withdrawals from the account each month. Unlike regular savings accounts, money market accounts pay a higher rate of return and often require a specified amount of money to open a MMA. Banks, in turn, lend the money deposited in these accounts to customers at a slightly higher rate than the amount of interest being paid to the money market accounts. One of the most...