what is a money market account and how does it work

[{"selector":"#anim-efecbc72-f085-41d2-9988-ceeb4e9848a1","keyframes":{"opacity":[0,1]},"delay":0,"duration":2500,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-be0e3f2f-d60c-470b-8b46-b0aadf4ce7d9","keyframes":{"transform":["translate3d(-87.24138%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":2500,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-5abbf94c-af7e-4717-99f9-111e9b0200f6","keyframes":{"opacity":[0,1]},"delay":0,"duration":2500,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-0364b731-24d1-4579-9645-4e54a7669655","keyframes":{"transform":["translate3d(95.73034%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":2500,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-792c6051-bac0-4d07-a999-9ea8ffe6e74b","keyframes":{"opacity":[0,1]},"delay":0,"duration":2500,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-a3538ec9-35b6-4fec-a5fe-899082158ca0","keyframes":{"transform":["translate3d(0px, 142.19000%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":2500,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-4cdec907-e7c9-4515-85df-923f4c00d70e [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(10.220994233760655%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] 1. what is a money market account Money market accounts are a type of savings account . They pay interest, but some issuers offer account holders limited rights to occasionally withdraw money or write checks against the account.

[{"selector":"#anim-ac275080-abc5-419b-a273-739ae746f0a2 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(59.123416801649164%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-08439dae-b17c-4141-8544-ccf2f179559f","keyframes":{"opacity":[0,1]},"delay":0,"duration":2500,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-20c30cfd-6e57-4aee-8f2c-f14cae50fbe0","keyframes":{"transform":["translate3d(-85.68966%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":2500,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-a23ec2a9-4734-4c71-b3df-b4467ef46ac2","keyframes":{"opacity":[0,1]},"delay":0,"duration":2500,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-4262cadb-0b96-48e1-a7d7-44cabe501b1e","keyframes":{"transform":["translate3d(95.73034%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":2500,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-09cabad4-678c-4063-a414-3b1d21460481","keyframes":{"opacity":[0,1]},"delay":0,"duration":2500,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-c3c9f68e-0818-4a3f-b527-6e93ed11ec38","keyframes":{"transform":["translate3d(0px, 205.70573%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":2500,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] 2. How does a money market account work? As customers deposit funds in a money market account, they earn interest on those funds .

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[{"selector":"#anim-a5395769-85bd-4db8-8b97-8f003ee35a7c","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-01660f55-b0f9-4012-b21f-cb7325a9586a","keyframes":{"transform":["translate3d(-87.41379%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-23b6a247-f108-42f7-a638-bc7b6ab4de77","keyframes":{"opacity":[0,1]},"delay":0,"duration":2500,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-9c995480-934c-44e4-95e8-b373cddb5dc1","keyframes":{"transform":["translate3d(96.17978%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":2500,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-1547edf4-07aa-46d1-a0b7-257657e1d2b3","keyframes":{"opacity":[0,1]},"delay":0,"duration":2500,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-979f1e51-8639-453c-8bc9-4b06ca8d8233","keyframes":{"transform":["translate3d(0px, 603.94284%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":2500,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-908b2f65-c1ac-44cd-b84e-3bf3bcbb215e [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-7.812499744007886%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] 4. Is it safe to put money in money market account? Yes, money market accounts are safe .

[{"selector":"#anim-de5755f6-d9db-491b-81d2-8ea42ed0dd61","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-6dedebdf-1e06-4b4d-9c7d-84ed71e18664","keyframes":{"transform":["translate3d(-85.68966%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-687a9b42-1db4-4b67-a272-957f240dd353","keyframes":{"opacity":[0,1]},"delay":0,"duration":2500,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-c5db3b05-5852-45d5-a917-3d142ad36512","keyframes":{"transform":["translate3d(95.73034%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":2500,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-ab660b98-1564-4e5a-88b6-f5951370199c","keyframes":{"opacity":[0,1]},"delay":0,"duration":2500,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-ec5c6bab-2ede-4810-877e-93a3673cbf08","keyframes":{"transform":["translate3d(0px, 160.23392%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":2500,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-d17c9fcf-d2d4-4bf6-865a-65f6035b1d6f [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-2.800725864040553%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] 5. Do money market accounts pay interest monthly? Interest is generally calculated daily for money market accounts and paid out at the end of each month directly into the account

[{"selector":"#anim-af6c6360-6d82-48fa-b5df-ed55b2d9dc75","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-7ae7481c-b519-47e3-a9a2-50ff676c5aca","keyframes":{"transform":["translate3d(-85.68966%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-3d732d3b-3289-45f7-90f6-8dd327a61c03","keyframes":{"opacity":[0,1]},"delay":0,"duration":2500,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-c0c25be9-f0e2-4453-8826-9f7d69d492ef","keyframes":{"transform":["translate3d(95.73034%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":2500,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-dbdd3bc4-8685-4538-8cdb-584f462a092a","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-597c42e9-04d1-4557-86c8-943bca406b20","keyframes":{"transform":["translate3d(0px, 205.70573%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-7ace6bb1-0d0c-4e3a-8b2f-a4bc5385c5e6 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-31.187035233097294%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] 6. Is money market account better than savings? Money markets typically offer higher interest rates than regular savings accounts.

[{"selector":"#anim-35505e60-41c4-43b7-b637-0ec69a9a9ef8 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-8.227145058053551%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-28c4cd6f-9d78-4a99-a2e0-65da00096214","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-8249f72a-2e83-4632-80f7-d1450733195f","keyframes":{"transform":["translate3d(-83.62069%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-b39a1a51-928f-4b6e-8211-76f97458c911","keyframes":{"opacity":[0,1]},"delay":0,"duration":2500,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-cdcdd788-d25d-4c17-bfcd-af5a6866c462","keyframes":{"transform":["translate3d(96.17978%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":2500,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-5ef2db02-5630-469a-ae90-d8a70f2304a1","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-4b2fcb2b-2489-466f-a2d4-0da8464c9a96","keyframes":{"transform":["translate3d(0px, 158.79441%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] 7. What bank has the best money market account? Best money market rates of January 2024 – Ally Bank®: Earn up to 4.40% APY. – CFG Bank: Earn up to 5.25% APY. – EverBank® (formerly TIAA Bank®): Earn up to 4.75% APY. – First Internet Bank of Indiana: Earn up to 5.46% APY. – Prime Alliance Bank: Earn up to 4.50% APY. – Quontic Bank: Earn up to 5.00% APY.

[{"selector":"#anim-d397a41b-9884-4edb-9735-e664a2ef4160 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-50.500291377045606%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-88640cfb-71d0-41e9-a252-0f80398a7193","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-7562fc5b-b237-4ea3-82cc-96e62562f4b2","keyframes":{"transform":["translate3d(-83.62069%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-023b3ce7-f0f8-4fab-a0df-8920e0cf6cb4","keyframes":{"opacity":[0,1]},"delay":0,"duration":2500,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-9cf4aa8c-558d-4a10-bf07-b5f12db779b0","keyframes":{"transform":["translate3d(98.87641%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":2500,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-9f3df672-fc42-4689-9a03-28bc6c51c9f1","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-4d280c11-5bb3-434c-9552-0046c058fb8e","keyframes":{"transform":["translate3d(0px, 365.81200%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] 8. How long do you have to keep money in a money market account? No, money market accounts do not have time limits or terms .

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