An account that usually pays higher interest rates than checking or savings accounts, but that may require a higher initial deposit. Money market accounts are offered by brokerage firms and they are not federally insured, unlike most checking and savings accounts.
money market account
noun
The definition of a money market account is a deposit account that pays interest based on money market rates, generally has a high minimum balance requirement and has features of both savings and checking accounts.
An example of a money market account is a bank-offered service that requires people to keep at least a $1,000 balance.
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money market account - Investment & Finance Definition
Webster's New World Finance and Investment Dictionary Copyright © 2010 by Wiley Publishing, Inc., Indianapolis, Indiana.
Used by arrangement with John Wiley & Sons, Inc.
Used by arrangement with John Wiley & Sons, Inc.
Link to this page
Cite this page
MLA Style
"Money market account." YourDictionary. LoveToKnow. www.yourdictionary.com/money-market-account.
APA Style
Money market account. (n.d.). In YourDictionary. Retrieved from https://www.yourdictionary.com/money-market-account
WORDS NEAR money market account IN THE DICTIONARY
- money market account
- money market certificate
- money-market-fund
- money market instruments