Money Market Account
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What Are They?
Money market accounts are a type of savings account. They differ from regular savings accounts because you earn a higher interest rate so that you can earn more money.With this account, you can also write a limited amount of checks which means that a money market account offers benefits of both a savings and checking account.
- Earn More Money
- The FDIC Insures Your Money
- Availability of Funds
- Check Writing and Debit Card Acces
- Money Market Accounts Require a Higher Minimum Balance
- Limited Withdrawals
- Interest Rate is Not Fixed
- No monthly fee
- Only takes a small deposit of $100 dollars to get started
- Online banking is very convenient