Money Market Accounts

A Money Market Account (MMA) is similar to a savings account except it has a few more requirements and benefits.  Like savings accounts Money Market Accounts are a deposit accounts which accumulate interest based on the amount deposited. The main differences between the two is MMA’s have a relatively high rate of interest and typically requires a higher minimum balance.

Fees will have to be paid if the minimum balance for a particular month is not met.

Are they better than Savings Accounts?

Both Savings and Money Market Accounts are pretty secure investment platforms.  You will earn a higher interest if you meet the guidelines for a MMA.

Here are articles related to all types of savings accounts.