Money Market Account

A money market account is a deposit account that blends savings-style interest with limited transaction access such as check writing or debit-linked withdrawals.

It should not be confused with a money market fund. A money market account is a bank deposit product, while a money market fund is an investment fund.

Why It Matters

Money market accounts are often used by savers who want:

• more yield than a basic savings account may offer
• better access than a time deposit
• a conservative place to keep larger liquid balances

That usually comes with tradeoffs such as higher minimum balances or more restrictive transaction terms than an ordinary checking account.

Related Terms

• Savings Account: Closely related deposit product with fewer transaction features.
• Checking Account: More transaction-heavy account with a different yield profile.
• Money Market Fund: Distinct investment product that should not be confused with an MMA.
• Certificate of Deposit: Deposit alternative with lower liquidity but often a different yield structure.