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What is a money market account? | Consumer Financial
Mar 18, 2016 · A money market account is a special type of account offered by banks and credit unions. Money market accounts are sometimes called money market deposit accounts or money …
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What Is A Money Market Savings Account? | How It Works
If you're looking into opening a money market account, how it works might be of interest to you. For customers, a money market account works similar to a savings account: You deposit your savings …
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How do you open a money market account?
To open a money market account, you can visit a branch of your local bank or credit union. Some of these financial institutions also allow accounts to be opened online. In the United States, a signed account application, valid identification, a social security number, home address, phone number, work address,...
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Why would someone want a money market account?
Financial experts recommend money market accounts for those who want to keep their money in a secure place and earning more interest than it would in a savings or checking account. At the same time, those looking for a higher yield and faster return should consider a CD or a stock market investment.
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Can you lose money with a money market account?
You could lose money by investing in a money market fund. An investment in a money market fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Before investing, always read a money market fund’s prospectus for policies specific to that fund.
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