If you’re looking for a place to keep your cash that offers more flexibility than a certificate of deposit (CD) while potentially earning more interest than a traditional checking account, you may have come across the term money market account.

So, what is a money market account?

A money market account, often abbreviated as MMA, is an interest-bearing deposit account offered by banks and credit unions. It generally combines some features of savings and checking accounts. Depending on the financial institution and account, you may receive a competitive interest rate along with features such as check-writing or debit-card access.

Money market accounts can be useful for people who want to keep money relatively accessible while earning interest. They can potentially work well for emergency savings, short-term goals, and larger cash balances.

However, an MMA isn’t automatically the best choice for every saver. Minimum-balance requirements, fees, transaction rules, interest rates, and access features can vary significantly between institutions.

This complete guide explains how money market accounts work, how they compare with savings and checking accounts, how they differ from money market funds, and how to determine whether an MMA makes sense for your financial situation.

1. What Is a Money Market Account?

A money market account is a type of deposit account that pays interest on the money you keep with a bank or credit union.

It generally falls somewhere between a traditional savings account and a checking account in terms of features.

Depending on the institution, an MMA may provide:

Interest earnings
Check-writing capabilities
Debit-card access
Online and mobile banking
ATM access
Electronic transfers
Higher balance requirements
Tiered interest rates

The exact features depend on the financial institution.

The main idea is simple:

You keep money in the account, the institution pays interest according to the account terms, and you retain relatively convenient access to the funds.

2. How Does a Money Market Account Work?

When you deposit money into a money market account, the bank or credit union holds the deposit and pays interest according to the account’s terms.

For example, suppose you deposit:

$10,000

and the account offers:

4% APY

If the rate and balance remained unchanged for approximately one year, you could earn roughly:

$400

before taxes and subject to the account’s actual interest calculation and compounding method.

The balance could grow from:

$10,000 → approximately $10,400

assuming no withdrawals, fees, or rate changes.

The actual amount will depend on the account’s APY, balance, interest calculation, compounding, and other terms.

3. Why Are Money Market Accounts Called “Money Market” Accounts?

The name can be confusing because a money market account isn’t the same thing as a money market fund.

The term historically relates to short-term financial markets and the way banks manage deposits and liquidity.

However, from a consumer’s perspective, the important distinction is:

Money market account = deposit account

Money market fund = investment fund

They have different structures and different protections.

We’ll cover this distinction in detail later.

4. Key Features of a Money Market Account

Although accounts vary, many MMAs have several common characteristics.

4.1 Interest Earnings

Unlike many basic checking accounts, money market accounts generally pay interest.

The APY varies by institution and market conditions.

4.2 Check-Writing Access

Some MMAs allow you to write checks directly from the account.

This can be useful if you want access to your savings without transferring the money to checking first.

Not every MMA offers this feature, however.

4.3 Debit Card Access

Some institutions provide a debit card connected to the money market account.

This can provide another way to access your funds.

The specific transaction rules depend on the account.

4.4 Minimum Balance Requirements

Some money market accounts require you to maintain a certain balance.

For example:

$1,000 minimum balance

or:

$5,000 to qualify for a particular APY

If your balance falls below the required threshold, the bank may charge a fee or reduce the applicable interest rate, depending on the account terms.

4.5 Variable Interest Rates

Most money market accounts have variable interest rates.

That means your rate can change.

For example:

4.50% APY today

could become:

4.00% APY later

if the institution changes its rate.

Therefore, don’t assume the rate you see when opening the account will remain unchanged indefinitely.

5. Money Market Account vs. Savings Account

A money market account and savings account are similar in many ways.

Both can:

Earn interest
Hold savings
Provide relatively easy access
Be used for short-term financial goals
Potentially qualify for deposit insurance when offered by an insured institution

The main difference often involves access features and account requirements.

An MMA may offer check-writing or debit-card access, while a traditional savings account may focus more heavily on electronic transfers and savings.

Comparison

Feature	Savings Account	Money Market Account
Earns interest	Yes	Yes
Check writing	Usually not	Sometimes
Debit card	Sometimes	Sometimes
Minimum balance	Often low or none	Often higher
Interest rate	Varies	Varies
Emergency savings	Suitable	Suitable
Everyday spending	Usually not ideal	Usually not ideal
Transaction restrictions	May apply	May apply

The exact differences depend on the financial institution.

6. Money Market Account vs. Checking Account

Checking accounts are primarily designed for everyday transactions.

You may use a checking account for:

Rent
Groceries
Utility bills
Debit-card purchases
Direct deposits
Recurring payments
ATM withdrawals

Money market accounts are generally more focused on saving while still providing some convenient access.

Feature	Checking Account	Money Market Account
Main purpose	Everyday spending	Saving + access
Interest	Often low or none	Usually earns interest
Debit card	Common	May be available
Check writing	Common	May be available
Minimum balance	Often low/none	Can be higher
Daily transactions	Designed for frequent use	Usually less suitable
Emergency savings	Possible	Often suitable

If you frequently spend money throughout the day, a checking account is generally more appropriate.

7. Money Market Account vs. High-Yield Savings Account

This is a particularly important comparison because both can provide competitive interest rates.

A high-yield savings account may offer:

Competitive APY
Low or no monthly fee
Easy electronic transfers
Lower minimum balance
Online access

An MMA may offer:

Competitive APY
Check writing
Debit-card access
Potentially higher minimum balances
Potentially tiered rates

Example

Suppose:

High-yield savings account = 4.25% APY

Money market account = 4.10% APY

If the money market account gives you useful check-writing access, you might decide that the small yield difference is worthwhile.

On the other hand, if the savings account has a higher yield and you don’t need checks or debit-card access, the savings account may be more attractive.

The right choice depends on how you use the money.

8. Money Market Account vs. CD

Money market accounts and CDs can both be used for savings, but they have very different liquidity characteristics.

A CD generally requires you to commit your money for a specific term.

A money market account generally allows more flexible access.

Feature	Money Market Account	CD
Liquidity	Generally high	Lower
Interest rate	Usually variable	Often fixed
Term commitment	None or low	Specific term
Early withdrawal penalty	Generally not a CD penalty	Common
Check access	May be available	Generally not
Emergency fund	Often suitable	Usually less suitable
Rate certainty	Lower	Higher during term

A CD can be useful when you know you won’t need the money for a certain period.

An MMA may be more appropriate when your access needs are uncertain.

9. Money Market Account vs. Money Market Fund

This distinction is extremely important.

A money market account is a deposit account.

A money market fund is an investment fund.

They are not interchangeable.

Money Market Account

Generally:

Offered by a bank or credit union
Pays interest
May have check/debit access
Can qualify for FDIC or NCUA deposit insurance when eligible
Designed as a deposit product

Money Market Fund

Generally:

Offered through an investment provider
Invests in short-term securities
Is a mutual fund or similar investment vehicle
Is not an FDIC-insured deposit
Has investment-related risks

Simple Rule

Remember:

Money market account = bank/credit-union deposit

Money market fund = investment

Never assume that a money market fund has the same deposit-insurance protection as a money market account.

10. Are Money Market Accounts Safe?

Money market accounts can be relatively low-risk places to keep cash when offered by a properly insured bank or credit union.

In the United States, eligible deposits at FDIC-insured banks are generally insured up to applicable limits and ownership categories.

Eligible deposits at federally insured credit unions may receive NCUA insurance, also subject to applicable limits and rules.

However, deposit insurance doesn’t mean every financial product is automatically insured.

Always verify:

The institution’s insurance status
The type of product
Applicable coverage limits
Ownership category
Any other relevant requirements

If you’re outside the United States, check the deposit-insurance system applicable in your country.

11. How Much Interest Can a Money Market Account Earn?

The amount you earn depends on:

Account balance
APY
How long you keep the money deposited
Interest-compounding method
Deposits
Withdrawals
Fees
Rate changes

Example

Suppose you have:

$20,000

and earn:

4% APY

A simplified estimate would be:

$20,000 × 4% = $800

in annual interest if the APY and balance remained unchanged for approximately one year.

The actual amount may differ depending on compounding and account activity.

12. What Is APY?

APY stands for Annual Percentage Yield.

It represents the annual yield of a deposit account while incorporating the effect of compounding.

For example:

Account A: 3.75% APY

Account B: 4.25% APY

If other conditions are similar, Account B offers the higher annual yield.

When comparing money market accounts, APY is generally more useful than simply looking at the stated interest rate.

13. Can Money Market Account Rates Change?

Yes.

Most money market accounts have variable rates.

The financial institution can change the rate according to the account terms and market conditions.

For example:

You open an MMA at:

4.50% APY

Several months later, the bank changes it to:

3.90% APY

Your balance remains in the account, but future interest accrues at the new applicable rate.

This is different from many traditional fixed-rate CDs, where the rate is generally locked for the CD term.

14. How Economic Conditions Affect MMA Rates

Broader interest-rate conditions can influence deposit rates.

Central-bank monetary policy can affect the rates financial institutions offer on deposits.

When market rates rise, banks may increase the rates available on some deposit accounts.

When rates fall, banks may lower them.

However, banks don’t necessarily adjust every account at the same time or by the same amount.

That’s why it’s useful to review your account periodically rather than assuming your original APY will remain competitive forever.

15. Minimum Balance Requirements

Minimum balance requirements are one of the most important things to check before opening an MMA.

For example, an account might require:

$2,500 minimum balance

to avoid a monthly fee.

Another might offer:

4.50% APY on balances above $10,000

but a lower yield below that threshold.

If your balance frequently changes, make sure you understand how those changes affect your rate and fees.

16. Tiered Interest Rates

Some money market accounts use tiered interest rates.

This means different balance levels receive different rates.

For example:

Balance	APY
Under $1,000	1.00%
$1,000–$9,999	2.50%
$10,000+	4.25%

The exact structure varies by institution.

Always read the account disclosure to determine whether the higher APY applies to the entire balance or only a specific portion.

17. Fees Can Reduce Your Earnings

A money market account may have fees such as:

Monthly maintenance fees
Excess transaction fees
Wire fees
ATM fees
Other account-service charges

Suppose your account earns:

$200 in annual interest

but you pay:

$120 in annual fees

Your net interest benefit is much smaller.

A simple way to think about it is:

Net Interest Benefit = Interest Earned − Applicable Fees

When comparing accounts, don’t focus exclusively on APY.

18. Transaction Limits

Money market accounts generally aren’t designed to replace checking accounts for unlimited daily transactions.

Some institutions may impose transaction or withdrawal limits according to the account’s terms and applicable rules.

Depending on the account, you may have restrictions involving:

Checks
Transfers
Debit transactions
Electronic withdrawals
Certain types of account activity

Rules can vary, so read the current account agreement.

If you need to make many transactions every week, a checking account may be more appropriate.

19. Can You Write Checks From a Money Market Account?

Some money market accounts allow check writing.

This can be useful when you need occasional access to a relatively large amount of money.

For example, you might use an MMA to hold money for:

A home renovation
A property-related expense
A major purchase
A large annual bill

However, check-writing availability varies by account.

Never assume that every MMA includes this feature.

20. Can You Get a Debit Card With an MMA?

Some financial institutions provide debit cards with money market accounts.

This can make accessing your money convenient.

However, convenience doesn’t mean the account is intended for unlimited daily spending.

Check:

Transaction limits
ATM fees
Daily withdrawal limits
Network availability
Account-specific restrictions

If you’re constantly using the account for groceries and everyday purchases, a checking account may be a better fit.

21. Money Market Accounts for Emergency Funds

An MMA can be a useful place to hold an emergency fund because it can combine:

Liquidity + Interest + Relative Stability

For example, suppose your essential monthly expenses are:

$3,000

and you decide to maintain:

6 months of expenses

Your target would be:

$3,000 × 6 = $18,000

An MMA could potentially hold some or all of that amount if the account provides the accessibility you need and meets your fee and insurance requirements.

A common emergency-fund guideline is around three to six months of essential expenses, but the appropriate amount varies based on income stability, household circumstances, insurance, debt, and other factors.

22. Money Market Accounts for Short-Term Goals

MMAs can also be useful for short-term goals.

Examples include:

Vacation savings
Home repairs
Car replacement
Education expenses
Moving expenses
Tax reserves
Large annual bills

The benefit is that you can potentially earn interest while keeping the money relatively accessible.

23. Money Market Accounts for Large Cash Balances

Suppose you receive:

$50,000

from the sale of an asset.

You don’t need the money immediately, but you’re still deciding what to do with it.

Instead of leaving it in a low-interest account, you might compare:

High-yield savings accounts
Money market accounts
CDs
Treasury securities
Other suitable cash-management options

The right choice depends on your time horizon, liquidity requirements, tax situation, risk tolerance, and financial goals.

24. Money Market Accounts vs. Long-Term Investments

A money market account generally isn’t designed to maximize long-term wealth.

Consider two different goals.

Goal A: Emergency Fund

You need:

$15,000

and might need it unexpectedly.

An MMA could be appropriate because liquidity matters.

Goal B: Retirement in 25 Years

You don’t need the money for decades.

A diversified long-term investment strategy may have greater growth potential, although investments also involve market risk and can lose value.

The two goals require different financial tools.

25. Advantages of Money Market Accounts

Let’s summarize the major benefits.

25.1 Interest Earnings

Your cash can earn interest rather than sitting completely idle.

25.2 Liquidity

You may have easier access than with a CD.

25.3 Check-Writing

Some accounts provide check-writing capabilities.

25.4 Debit-Card Access

Some accounts offer debit cards.

25.5 Potentially Competitive APYs

Some MMAs can offer attractive yields, depending on market conditions and account terms.

25.6 Deposit Insurance

Eligible deposits at properly insured institutions can receive applicable government-backed deposit insurance.

26. Disadvantages of Money Market Accounts

MMAs also have limitations.

26.1 Minimum Balances

Some accounts require substantial balances.

26.2 Fees

Monthly fees can reduce your earnings.

26.3 Variable Rates

Your APY may decline.

26.4 Transaction Restrictions

The account may not be suitable for frequent spending.

26.5 Rate Competition

Another savings account or CD may offer a better yield depending on market conditions.

26.6 Not a Long-Term Investment

Cash held in an MMA may not provide the growth potential associated with long-term investments.

27. When Should You Consider a Money Market Account?

An MMA may make sense if you want:

A place for emergency savings
Interest on a larger cash balance
Some check-writing access
More flexibility than a CD
A savings vehicle for short-term goals
A separate account for large planned expenses

It may be less suitable if:

You need unlimited daily transactions
The account has a high minimum you can’t maintain
Fees are significant
Another account offers a materially better overall value
Your goal is long-term investment growth

28. When a High-Yield Savings Account May Be Better

A high-yield savings account may be preferable if:

You don’t need check-writing
You primarily make electronic transfers
The savings account has a higher APY
There is no meaningful minimum balance
Fees are lower
You want a simple savings structure

For many savers, the decision may come down to one question:

Do I actually need the additional access features of the MMA?

If not, a high-yield savings account may be simpler.

29. When a CD May Be Better

A CD may be more appropriate if:

You know you won’t need the money during the term
You want rate certainty
The CD APY is meaningfully attractive
You can accept an early-withdrawal penalty
Your financial goal has a defined date

For example, if you know you won’t need $10,000 for 12 months, a one-year CD could be worth comparing with an MMA.

30. When a Checking Account May Be Better

A checking account may be the better choice when you need to:

Pay bills frequently
Use a debit card regularly
Write many checks
Receive payroll
Make everyday purchases
Maintain frequent transactions

The fact that an MMA may offer debit-card or check access doesn’t mean it should replace your checking account.

31. How to Choose the Right Money Market Account

Before opening an MMA, compare the following.

1. APY

What yield are you actually receiving?

2. Minimum Balance

How much must you keep in the account?

3. Fees

Are there monthly maintenance charges?

4. Access

Can you use:

Checks?
Debit card?
ATM?
Online transfers?

5. Transaction Rules

Are there limits on certain withdrawals or transfers?

6. Deposit Insurance

Is the institution properly insured?

7. Rate Conditions

Does the advertised APY require a particular balance?

8. Customer Service

Can you easily resolve problems?

9. Digital Banking

Is the mobile app and online banking experience suitable for your needs?

10. Transfer Speed

How quickly can you move money when necessary?

32. A Money Market Account Comparison Worksheet

Use this table when comparing accounts:

Feature	Account A	Account B	Account C
APY
Interest rate
Minimum opening deposit
Minimum balance
Monthly fee
Check writing
Debit card
ATM access
Transaction limits
Rate tiers
Deposit insurance
Online banking
Transfer speed
Promotional rate

This makes it easier to compare the entire account instead of choosing based on APY alone.

33. How to Calculate the Potential Interest

A simple estimate is:

Interest ≈ Principal × Annual Rate × Time

For example:

$15,000 × 4% × 1 year = $600

This is a simplified calculation.

If the account compounds interest, the actual amount may differ.

A more precise calculation depends on the account’s APY, balance changes, and compounding method.

34. How Fees Change the Calculation

Suppose you earn:

$600 interest

but pay:

$120 in annual fees

Your simplified net benefit would be:

$600 − $120 = $480

This demonstrates why a slightly higher APY isn’t necessarily better if the account has substantial fees.

35. How to Use a Money Market Account Effectively

A money market account can work particularly well when you give it a specific purpose.

For example:

MMA Goal: Emergency Fund

Target:

$15,000

MMA Goal: Home Repair Fund

Target:

$5,000

MMA Goal: Car Replacement Fund

Target:

$20,000

Giving the account a defined purpose can reduce the temptation to spend the money on unrelated purchases.

36. Should You Keep All Your Savings in an MMA?

Not necessarily.

Your financial system may benefit from multiple types of accounts.

For example:

Checking account → Everyday spending

High-yield savings → Emergency fund

MMA → Large short-term goal

CD → Money needed at a known future date

Investment account → Long-term growth

This is just one possible structure.

The best arrangement depends on your financial circumstances.

37. Common Money Market Account Mistakes

Mistake 1: Choosing Based Only on APY

A higher APY doesn’t necessarily compensate for fees or restrictive conditions.

Mistake 2: Ignoring Minimum Balances

You could unexpectedly trigger fees or lose a promotional rate.

Mistake 3: Using the MMA Like a Checking Account

Frequent transactions may conflict with the account’s intended purpose or terms.

Mistake 4: Assuming the Rate Is Fixed

Most MMAs have variable rates.

Mistake 5: Confusing an MMA With a Money Market Fund

They are completely different financial products.

Mistake 6: Ignoring Deposit Insurance

Verify that the institution and product qualify for applicable insurance.

Mistake 7: Chasing Every Rate Change

Switching accounts constantly may not be worthwhile if the financial difference is tiny.

Mistake 8: Keeping Too Much Cash for Too Long

If money is intended for long-term goals, an MMA may not provide the growth potential you need.

38. A Simple Example of Choosing an MMA

Suppose you have:

$25,000

You need:

$10,000

for emergencies.

You also expect to spend:

$5,000

on home improvements within the next year.

The remaining:

$10,000

isn’t needed immediately.

You could evaluate several options:

Emergency Fund

Keep $10,000 in an accessible savings account or MMA.

Home Improvement Fund

Keep $5,000 in an appropriate liquid account.

Remaining $10,000

Compare an MMA, CD, or other suitable option based on your timeline.

The point isn’t that an MMA must be used.

The point is that different portions of your money can have different jobs.

39. Money Market Accounts and Inflation

Inflation is an important consideration.

Suppose your MMA earns:

3.5%

while inflation is:

4.5%

Your account balance is increasing, but the purchasing power of that money may still decline.

This doesn’t make an MMA useless.

Cash accounts serve an important purpose because they provide liquidity and stability.

But money needed for long-term wealth building may require a different strategy.

40. Money Market Accounts and Taxes

Interest earned from an MMA may be taxable depending on your country and circumstances.

In the United States, taxable bank interest is generally reported as income.

The financial institution may provide appropriate tax reporting documents when required.

Tax rules vary by jurisdiction and account type, so don’t assume that the entire interest amount is available to spend after taxes.

41. A 30-Day Money Market Account Review Plan

If you already have an MMA, you can review it over the next month.

Week 1: Review Your Current Account

Write down:

Balance
APY
Fees
Minimum balance
Interest earned
Transaction limits

Week 2: Compare Other Accounts

Look at:

APYs
Fees
Minimums
Access
Insurance
Rate conditions

Week 3: Identify the Purpose of Your Money

Ask:

What is this money actually for?

Emergency fund?

Short-term goal?

Large upcoming expense?

Long-term savings?

Week 4: Make a Decision

You can then decide whether to:

Keep the account
Change accounts
Move some funds
Open a CD
Use a high-yield savings account
Keep the current setup

42. Money Market Account Checklist

Before opening an MMA, ask:

What is the current APY?
Is the APY variable?
Is there a minimum opening deposit?
Is there a minimum balance?
What happens if my balance falls below the minimum?
Is there a monthly maintenance fee?
Does the account allow check writing?
Does it offer a debit card?
Are there transaction limits?
Are there ATM fees?
Is the institution FDIC or NCUA insured, if applicable?
Are my deposits within applicable insurance limits?
Does the advertised APY require a certain balance?
Is the rate promotional?
How quickly can I transfer money?
Does the account fit my financial goal?

Frequently Asked Questions

What is a money market account?

A money market account is an interest-bearing deposit account offered by banks and credit unions. It can combine features of savings accounts with certain checking-style access features, such as check writing or debit-card access, depending on the institution.

Is a money market account the same as a savings account?

No. They are both deposit accounts, but money market accounts may offer additional access features and may have higher minimum-balance requirements. The exact differences depend on the financial institution.

Is a money market account the same as a money market fund?

No. A money market account is a deposit account, while a money market fund is an investment product. Money market funds are not FDIC-insured deposits.

Are money market accounts safe?

Eligible deposits at properly insured banks and credit unions can receive applicable deposit insurance. However, insurance limits and eligibility rules apply, so verify the institution and product.

Can I write checks from a money market account?

Some money market accounts allow check writing. Others do not. Check the account’s specific features before opening it.

Can I use a debit card with a money market account?

Some MMAs offer debit cards, but availability varies. Transaction and withdrawal rules may also apply.

Do money market accounts pay interest?

Yes. Money market accounts generally pay interest, although the rate varies by institution and market conditions.

Can the interest rate change?

Yes. Most MMAs have variable interest rates, so the APY can change over time.

Is a money market account good for an emergency fund?

It can be. An MMA may provide a useful combination of liquidity and interest earnings. However, compare its accessibility, fees, minimums, and APY with high-yield savings accounts.

How much money should I keep in a money market account?

There is no universal amount. Your balance should be based on your financial goals, emergency-fund needs, upcoming expenses, and liquidity requirements.

Is a money market account better than a CD?

Neither is universally better. A money market account generally provides greater liquidity, while a CD may offer rate certainty for a defined period.

Is a money market account better than a checking account?

It depends on the purpose. Checking accounts are generally designed for frequent everyday transactions, while MMAs are more focused on earning interest while maintaining some access.

Is a money market account better than a high-yield savings account?

Not necessarily. Compare APYs, fees, minimum balances, access features, and transaction rules. An MMA may be useful if you value check-writing or debit-card access, while a high-yield savings account may offer a simpler structure.

Can I lose money in a money market account?

Your account can be affected by fees, withdrawals, taxes, and inflation’s effect on purchasing power. Eligible deposits at properly insured institutions receive protection against covered bank failures within applicable limits.

Is money market account interest taxable?

It can be. Tax treatment depends on your jurisdiction and circumstances. In the United States, taxable bank interest is generally treated as income.

Final Thoughts

So, what is a money market account?

A money market account is essentially a deposit account designed to combine interest earnings with relatively convenient access to your money.

It can occupy a useful middle ground between traditional savings and checking accounts.

You may get:

Interest + Liquidity + Some Checking-Style Features

But there are trade-offs.

Some accounts have:

Higher minimum balances
Monthly fees
Variable interest rates
Transaction restrictions
Tiered APYs

That’s why you shouldn’t choose an MMA simply because it advertises a high interest rate.

Before opening an account, compare the APY, fees, minimum balance, transaction rules, check-writing access, debit-card availability, transfer options, and deposit-insurance coverage.

For emergency funds and short-term goals, an MMA can be a useful option when its terms fit your needs.

For everyday spending, a checking account may be more appropriate.

For money you won’t need for a defined period, a CD may provide better rate certainty.

And for long-term wealth building, a broader investment strategy may be more appropriate than keeping everything in cash.

The most important principle is simple:

Give every dollar a purpose.

Use liquid cash accounts for money you may need soon, consider time deposits for money with a defined future date, and evaluate long-term investments separately based on your goals and risk tolerance.

When you understand what a money market account is and how it compares with other financial products, you can make a more informed decision about where your savings should live.

Financial Disclaimer

This article is provided for general educational and informational purposes only and should not be considered financial, investment, tax, legal, or banking advice. Money market account rates, APYs, fees, transaction rules, minimum-balance requirements, deposit-insurance limits, and account terms vary by financial institution and jurisdiction and can change over time. Money market accounts and money market funds are different financial products with different risks and protections. Before opening an account or moving money, review the institution’s current disclosures and terms and consider consulting a qualified financial or tax professional when appropriate.