Transportation / Aerospace, education, gov / Military, religion.
Money market accounts (or deposit blackjack rules when to hit accounts) should not be confused with money market funds (or money market mutual funds - mmmfs).
A money market account also allows easier access to the funds as compared to a savings account.
Other Services, some banks offer checks and ATM cards with money market accounts.3 Minimum denominations were eliminated on January 1, 1986, and the limitation that no more than three of the maximum six monthly outward transfers could be by check was eliminated on May 3, 1988.How they work, how CDs work, with a certificate of deposit (CD investors choose a fixed amount (called denomination of the CD) to invest for a fixed duration (the term ).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 markets.For the type of mutual fund, see.The rate may vary with the market but it is always known.
Mason, Ohio : South-Western Cengage Learning.
Money market accounts vs savings accounts.
Similarly, CDs with longer maturity periods tend to offer higher interest rates.As of May 2013, the average 1-year return from a money market account.04, while the average return on a CD.44 according.Telecom, energy/Utility, healthcare, retail, entertainment, bankPurely, purelyMoneyMarket - New Money.45* 25k500k612.Investors are not allowed to add any money to an existing CD; they must invest in a new CD if they want to invest more money.There is generally a 500 minimum.
Customers are permitted to make 6 withdrawals per month (excluding cash withdrawals from automated teller machines ) and violations will result in service charges of approximately 10 per transaction and possible closure of the account.
Interest Rates, while money market account rates change as rates fluctuate, CDs offer a fixed interest rate for the term.