Business and Personal Finance Dictionary

# A B C D E F G H I J K L M N O P Q R S T U V W X Y Z 

• MONEY MARKET ACCOUNT
  
  These bank savings accounts normally pay interest at rates comparable to those offered by money market mutual funds. One appeal of money market accounts is that they have the added safety of Federal Deposit Insurance Corporation (FDIC) protection, up to a limit of $100,000 per depositor. One drawback may be that some banks reduce the interest they pay or impose fees if your balance falls below a specific amount. Money market accounts offer check-writing privileges, although there are usually limits on the number of withdrawals you can make each month.
  
  Back