What's a money market account? Is it similar to an online savings account?

Similar questions: money market account similar online savings.

Money markets are similar to savings account, but they are usually not FDIC insured. Money market fundDefinitionAn open-end mutual fund which invests only in money markets. These funds invest in short term (one day to one year) debt obligations such as Treasury bills, certificates of deposit, and commercial paper.

The main goal is the preservation of principal, accompanied by modest dividends. The fund's net asset value remains a constant $1 per share to simplify accounting, but the interest rate does fluctuate. Money market funds are very liquid investments, and therefore are often used by financial institutions to store money that is not currently invested.

Unlike bank accounts and money market accounts, most deposits are not FDIC insured, but the risk is extremely low (only those funds administered by banks are FDIC-insured, but some others are privately insured). Although money market mutual funds are among the safest types of mutual funds, it still is possible for money market funds to fail, but it is unlikely. In fact, the biggest risk involved in investing in money market funds is the risk that inflation will outpace the funds' returns, thereby eroding the purchasing power of the investor's money.

Also called money fund. Sources: investorwords.com/3107/getword.cgi .

Money Market account is invested in a mutual fund A money market account is invested in a mutual fund called a money market mutual fund. The fund invests mostly in treasury bills or T-Bills. T-Bills are short term debt obligation backed by the U.S.Government with a maturity of less than 1 year.

Since a money market account is a mutual fund, it is not FDIC insured. An online savings account is just a regular savings account offered by your bank. Just like your regular cheuqing account or savings account with a passbook.An online savings account only differs that you can only do your banking online or by phone, not through the tellers.

Because there is lower cost in offering these types of accounts, most banks pass the savings to you in the form of higher interest. Sources: investopedia.com .

Yeah its similar yeah its similar but you usually earn a higher rate like with paypal you get 5.03 percent return of the money you have in there if you invest into thier money market. Sources: my opinion and experiance .

It's a type of savings account with balance minimums and lower interest According to investopedia, a money market account is .... "A savings account that offers the competitive rate of interest (real rate) in exchange for larger-than-normal deposits. " So what kind of rates do you get for that "larger-than-normal deposit? " Here’s some current MMA rates from bank rate.com.(http://www.

Bankrate.com/brm/rate/chk_sav_home. Asp) MMA 3.57% $10K MMA 4.04% Not nearly as nice as rates one might get from EmigrantDirect, HSBCDirect, INGDirect or other types of online-savings accounts. And to top it off, you’ll need to fork over $2,500 - $10,000 (the higher rate requires $10k) to you bank.

. Sources: http://www.investopedia.com/terms/m/moneymarketaccount.asp .

A money market account is an interest-bearing account that is usually designed for a small number of withdrawals. A good link can be found here, but the short answer is money-market accounts entice customers with what are usually higher interest rates, but they often have more restrictions, such as higher minimum deposits and limits on the number of withdrawals. Austindeadhead's Recommendations Money market deposit accounts and super now accounts .

" "can I use my savings account to make payment" "Okkkkkk. So, one of the financial institutions I use offers a savings account and various CDs..." "which bank has a highest interest rate for money market account?" "What would be the best savings account and bank for my situation?

Can I use my savings account to make payment.

Okkkkkk. So, one of the financial institutions I use offers a savings account and various CDs...

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