Money market account meaning

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A money market account is variable interest rate, so the banks and credit unions that higher fees and minimum requirements rates on both of these.

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What is a Money Market Account?
A money market account is a type of account offered by banks and credit unions. Like other deposit accounts, money market accounts are insured by the FDIC or. A money market account is a type of interest-bearing account designed to combine the best features of a savings and a checking account. A money market account (MMA) or money market deposit account (MMDA) is a deposit account that pays interest based on current interest rates in the money.