If you're looking to choose a money market account, here are some factors to consider. A money market account (MMA) is an interest-bearing account at a bank or credit union, and it usually offers higher interest rates than traditional savings accounts. The way money market accounts differ from traditional savings accounts is that they sometimes allow check-writing privileges and come with a debit card that can be used to access money at an ATM. Because they offer a higher level of liquidity you won't find in other savings accounts, like CDs, they’re a good option for short-term savings goals or savings you’ll need to access regularly.
