{"id":22054,"date":"2025-10-31T23:09:57","date_gmt":"2025-10-31T23:09:57","guid":{"rendered":"https:\/\/budgetadirect.com\/?p=22054"},"modified":"2025-10-31T23:09:59","modified_gmt":"2025-10-31T23:09:59","slug":"what-is-a-money-market-account","status":"publish","type":"post","link":"https:\/\/budgetadirect.com\/?p=22054","title":{"rendered":"What Is A Money Market Account?"},"content":{"rendered":"<div id=\"\">\n<div class=\"overflow-hidden relative bg-blue-50 aspect-video w-full rounded-lg\"><\/div>\n<p>\n            Images by Getty Images; Illustration by Issiah Davis\/Bankrate\n        <\/p>\n<\/p><\/div>\n<div>\n<div id=\"block_c21473e041b7b3ecaa0ade92d018c7bb\" class=\"key-takeaways sm:border-l-4 border-(--accent) sm:pl-8 my-8 relative\" style=\"--accent: var(--color-blue-medium)\">\n    <!-- htmlmin:ignore --><\/p>\n<h2 class=\"heading-4 mt-0 mb-4 text-crop-none max-sm:flex max-sm:items-center max-sm:gap-4\" id=\"key-takeaways\" data-position=\"0\" data-beam-element-viewed=\"\" data-id=\"br-h2-0-onpage-placement\" data-type=\"h2\" data-location=\"Editorial\" data-name=\"h2_all\" data-text=\"Key takeaways\" data-outcome=\"\">\n    <span class=\"shrink-0\">Key takeaways<\/span><br \/>\n        <span class=\"max-sm:h-0.5 max-sm:w-full max-sm:w-full max-sm:bg-(--accent) max-sm:rounded-full max-sm:block\"\/><br \/>\n    <\/h2>\n<p>    <!-- htmlmin:ignore --><\/p>\n<ul class=\"flex flex-col text-gray-700 mb-0 gap-2 list-disc\">\n<li class=\"pl-4 relative marker:text-(--accent)\">\n                                                            A money market account is a deposit account that earns interest while providing check-writing and debit card access to your funds.\n                                                <\/li>\n<li class=\"pl-4 relative marker:text-(--accent)\">\n                                                            Money market accounts currently earn between 0.47% and 4.00%+ APY, with top accounts offering rates significantly higher than traditional savings accounts, according to Bankrate\u2019s rate tracking.\n                                                <\/li>\n<li class=\"pl-4 relative marker:text-(--accent)\">\n                                                            These accounts are FDIC-insured up to $250,000 per depositor and combine the security of savings accounts with the transaction flexibility of checking accounts.\n                                                <\/li>\n<li class=\"pl-4 relative marker:text-(--accent)\">\n                                                            Money market accounts work best for emergency funds and short-term savings goals where you need both competitive interest rates and occasional access to cash.&#13;<\/p>\n<\/li>\n<\/ul>\n<\/div>\n<p>A money market account is a savings tool that combines competitive interest rates with greater flexibility than traditional savings accounts. Money market accounts (MMAs) provide additional access to your funds through checks, debit cards and electronic withdrawals, making it easier to manage your money when needed.<\/p>\n<p>These accounts are federally insured by the Federal Deposit Insurance Corporation (FDIC) at banks or the National Credit Union Administration (NCUA) at credit unions, offering both security and growth potential. However, they may have withdrawal limits and higher minimum balance requirements compared to regular savings accounts.<\/p>\n<div class=\"TipBox flex sm:items-center gap-6 sm:gap-7 md:gap-8 mx-2 sm:mx-8 mb-8\">\n    <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"TipBox-icon Icon icon-offset-blue-200 text-gray-900 icon-highlight-blue-600 mt-4 sm:-mt-4 md:-mt-1\" viewbox=\"0 0 24 24\" fill=\"currentColor\" focusable=\"false\"><title>Lightbulb Icon<\/title>\n<path d=\"M10.725 18.804c.22 2.389 1.25 4.196 2.486 4.196 1.243 0 2.277-1.825 2.49-4.23a.66.66 0 0 0 .08-.318c0-.667.458-1.22 1.042-1.918l.013-.015c.787-.949 1.764-2.125 1.764-4.025C18.6 9.844 16.429 7 13.2 7c-3.23 0-5.4 2.837-5.4 5.486 0 1.918.979 3.105 1.768 4.056l.028.033c.563.683 1.007 1.221 1.022 1.885.003.13.042.247.107.344Z\" fill=\"transparent\" class=\"icon-offset\"\/><path fill-rule=\"evenodd\" clip-rule=\"evenodd\" d=\"M12 4.386a.698.698 0 0 1-.692-.7V1.7c0-.385.311-.7.692-.7.38 0 .692.315.692.7v1.986c0 .385-.312.7-.692.7Zm-5.557 2.32h.005-.01.005Zm.489-.202a.674.674 0 0 1-.489.202.728.728 0 0 1-.488-.202l-1.384-1.4a.708.708 0 0 1 0-.988.689.689 0 0 1 .977 0l1.384 1.4a.708.708 0 0 1 0 .988Zm6.529 11.454c0 .385.311.7.692.7v.009c.38 0 .692-.315.692-.7 0-.718.501-1.313 1.141-2.065l.014-.016c.863-1.021 1.932-2.287 1.932-4.333 0-2.852-2.378-5.915-5.916-5.915-3.537 0-5.916 3.054-5.916 5.906 0 2.065 1.073 3.343 1.938 4.367l.03.036c.617.735 1.103 1.314 1.12 2.029.009.385.32.673.71.682.38-.009.674-.332.674-.717-.026-1.225-.761-2.1-1.479-2.95-.83-.98-1.609-1.907-1.609-3.455 0-2.18 1.825-4.507 4.532-4.507 2.708 0 4.533 2.337 4.533 4.515 0 1.526-.807 2.484-1.587 3.412l-.022.027-.008.01c-.724.854-1.471 1.736-1.471 2.965Zm-.008-4.051-.744.752v2.774c0 .385-.312.7-.692.7a.698.698 0 0 1-.692-.7v-2.774l-.796-.805a.708.708 0 0 1 0-.988.688.688 0 0 1 .978 0l.51.516.458-.464a.688.688 0 0 1 .978 0 .708.708 0 0 1 0 .989ZM2.192 12.322h1.955c.38 0 .692-.314.692-.7 0-.384-.312-.7-.692-.7H2.192a.698.698 0 0 0-.692.7c0 .386.311.7.692.7Zm11.84 8.252h-3.918a.698.698 0 0 1-.692-.7c0-.385.311-.7.692-.7h3.918c.38 0 .692.315.692.7 0 .385-.312.7-.692.7Zm-3 1.986h1.963c.38 0 .692-.315.692-.7 0-.385-.312-.7-.692-.7H11.03a.698.698 0 0 0-.692.7c0 .385.312.7.692.7Zm10.776-10.237h-1.955a.698.698 0 0 1-.692-.7c0-.385.312-.7.692-.7h1.955c.38 0 .692.315.692.7 0 .385-.311.7-.692.7Zm-4.259-5.617a.33.33 0 0 0 .003 0h-.008.005Zm-.49-.202c.138.13.31.2.49.202a.674.674 0 0 0 .488-.202l1.384-1.4a.708.708 0 0 0 0-.988.689.689 0 0 0-.978 0l-1.384 1.4a.708.708 0 0 0 0 .988Z\" class=\"icon-base\"\/><\/svg>    <\/p>\n<p class=\"w-full mb-0\">\n        <strong class=\"font-bold\"><br \/>\n            Bankrate\u2019s take:<br \/>\n        <\/strong><br \/>\n        The key difference between money market accounts and other deposit accounts is their hybrid nature \u2014 they earn interest like savings accounts but offer transaction capabilities similar to checking accounts. This makes them ideal for specific financial situations where you need both growth and accessibility.\n    <\/p>\n<\/div>\n<h2 data-position=\"1\" data-beam-element-viewed=\"\" data-id=\"br-h2-1-onpage-placement\" data-type=\"h2\" data-location=\"Editorial\" data-name=\"h2_all\" data-text=\"How do money market accounts work?\" data-outcome=\"\">How do money market accounts work?<\/h2>\n<p>Money market accounts generate interest on your balance, typically calculated daily and paid monthly. Banks and credit unions calculate interest daily and pay it monthly, typically quoting rates as annual percentage yield (APY) to help you compare earning potential across different accounts.<\/p>\n<h3><strong>Interest rate mechanics<\/strong><\/h3>\n<p>Money market accounts feature variable rates, meaning your earnings can rise or fall when market rates change. For example, if the Federal Reserve adjusts its target interest rate, your APY may follow suit. This variability means your returns aren\u2019t guaranteed like they would be with certificates of deposit.<\/p>\n<p>According to Bankrate\u2019s data, the national average money market account APY is 0.47%, but the best money market accounts offer rates over 4.00% APY \u2014 almost than 10 times the average. This wide range makes comparison shopping essential.<\/p>\n<h3><strong>Access and transactions<\/strong><\/h3>\n<p>You can typically access your money via checks, debit cards or electronic transfers, though withdrawals may be limited under federal guidelines or bank policies. Some accounts require higher minimum balances to avoid fees or earn the best rates. <\/p>\n<p>The transaction flexibility distinguishes money market accounts from traditional savings accounts, which rarely offer check-writing or debit card access. This makes money market accounts particularly useful when you need to write a large check \u2014 such as paying a contractor or making a down payment \u2014 directly from your savings.<\/p>\n<h3><strong>Safety and insurance<\/strong><\/h3>\n<p>Unlike money market funds which are investment products, money market accounts are deposit accounts protected by federal insurance up to $250,000 per depositor at each institution. <\/p>\n<p>This insurance protection guarantees your principal even if the bank fails, making money market accounts one of the safest places to keep your cash while earning interest.<\/p>\n<section class=\"editorial-insight-box --insight-box +mg-vertical-md\" data-template=\"insight_box\">\n<div class=\"card-body border-l-4 border-blue-800\">\n<div class=\"content-wrapper\">\n<p>\n                    Bankrate insight: Best of both worlds\n                <\/p>\n<div class=\"content wysiwyg wysiwyg--flush\">\n<p>Money market accounts offer a sweet spot between savings accounts and checking accounts. You get better interest rates than most checking accounts while maintaining easier access to your money than you\u2019d have with CDs or other time-locked savings products.<\/p>\n<p>Based on Bankrate\u2019s analysis, the average checking account earns just 0.18% APY, while money market accounts average 0.47% APY \u2014 and the best accounts exceed 4.00% APY. That\u2019s a substantial difference in earning potential while still keeping your funds accessible.<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/section>\n<h2 id=\"pros-cons\" data-position=\"2\" data-beam-element-viewed=\"\" data-id=\"br-h2-2-onpage-placement\" data-type=\"h2\" data-location=\"Editorial\" data-name=\"h2_all\" data-text=\"What are the pros and cons of money market accounts?\" data-outcome=\"\">What are the pros and cons of money market accounts?<\/h2>\n<div id=\"block_47a84611a1ab575afbb0397fee18ed3b\" class=\"flex flex-col gap-8 my-6 not-wysiwyg\">\n<div class=\"ProsAndConsList\" data-js-selector=\"ProsAndConsList\">\n<div class=\"ProsAndConsItem\">\n        <!-- htmlmin:ignore --><\/p>\n<h3 class=\"ProsAndConsItem-header\">\n    Pros<br \/>\n    <\/h3>\n<p>    <!-- htmlmin:ignore --><\/p>\n<ul class=\"ProsAndConsItem-list\">\n<li>\n                    <strong>Competitive interest rates:<\/strong> Currently, the best money market accounts pay over 4 APY, helping your money grow faster than traditional savings accounts and potentially outpacing inflation.\n                <\/li>\n<li>\n                    <strong>Federal insurance protection:<\/strong> Your deposits are insured up to $250,000 per account owner, provided the account is at an FDIC-member bank or NCUA-member credit union.\n                <\/li>\n<li>\n                    <strong>Flexible access:<\/strong> Unlike CDs, you can access your funds when needed through checks, debit cards and electronic transfers without early withdrawal penalties.\n                <\/li>\n<\/ul><\/div>\n<div class=\"ProsAndConsItem\">\n        <!-- htmlmin:ignore --><\/p>\n<h3 class=\"ProsAndConsItem-header\">\n    Cons<br \/>\n    <\/h3>\n<p>    <!-- htmlmin:ignore --><\/p>\n<ul class=\"ProsAndConsItem-list\">\n<li>\n                    <strong>Higher minimum balance requirements:<\/strong> Money market accounts often require larger deposits than traditional savings accounts, either to open the account or earn the top APY.\n                <\/li>\n<li>\n                    <strong>Potential withdrawal restrictions:<\/strong> While federal limits have been relaxed, many banks still impose transaction limits that could result in fees if exceeded.\n                <\/li>\n<li>\n                    <strong>Variable rates:<\/strong> Your interest rate can change over time, potentially decreasing your earnings if market rates fall.\n                <\/li>\n<li>\n                    According to Bankrate\u2019s current rate tracking, the national average money market account APY is 0.45%, but the best money market accounts offer rates between 4.00% and 4.50% APY\u2014more than 10 times the average. This wide range makes comparison shopping essential.\n                <\/li>\n<\/ul><\/div>\n<\/div><\/div>\n<h2 data-position=\"3\" data-beam-element-viewed=\"\" data-id=\"br-h2-3-onpage-placement\" data-type=\"h2\" data-location=\"Editorial\" data-name=\"h2_all\" data-text=\"How to choose the best money market account\" data-outcome=\"\">How to choose the best money market account<\/h2>\n<p>Finding the right money market account involves evaluating several key factors beyond just interest rates. The difference between an average account and a top-tier account can mean hundreds or even thousands of dollars in additional earnings over time.<\/p>\n<ul class=\"wp-block-list\">\n<li>\n<strong>APY comparison:<\/strong> Look for accounts offering the highest money market account APYs to maximize your earnings. Online banks often provide higher APYs than traditional brick-and-mortar institutions.<\/li>\n<li>\n<strong>Minimum balance requirements:<\/strong> Check whether the account\u2019s balance requirements align with your financial situation. Some accounts require $1,000 or more to avoid fees or earn the advertised yield. <\/li>\n<li>\n<strong>Fee structure:<\/strong> Review potential fees including monthly maintenance charges, excess withdrawal fees, transfer fees or early closure penalties. Look for accounts that waive fees with reasonable balance requirements.<\/li>\n<li>\n<strong>Access features:<\/strong> Consider how you\u2019ll need to access your funds. Some accounts offer checks and debit cards, while others may limit withdrawal options. Verify how many withdrawals are allowed per statement cycle.<\/li>\n<li>\n<strong>Digital banking features:<\/strong> Evaluate the bank\u2019s online banking platform and mobile app capabilities, including features like mobile check deposit, real-time balance updates and account alerts. <\/li>\n<\/ul>\n<div class=\"InlineCta not-wysiwyg my-12\">\n            <img decoding=\"async\" class=\"InlineCta-image\" src=\"https:\/\/budgetadirect.com\/wp-content\/uploads\/2025\/10\/Central-savings-money-market-account-rate-forecast.jpg\" alt=\"\"\/><\/p>\n<div class=\"InlineCta-body\">\n                    <!-- htmlmin:ignore --><\/p>\n<h3 class=\"InlineCta-title\">\n    Compare money market account offers today<br \/>\n    <\/h3>\n<p>    <!-- htmlmin:ignore --><\/p>\n<p class=\"InlineCta-copy\">Achieve your savings goals with a money market account that offers a high yield and check-writing privileges.<\/p>\n<p>        Compare rates<\/p><\/div>\n<\/div>\n<h2 data-position=\"4\" data-beam-element-viewed=\"\" data-id=\"br-h2-4-onpage-placement\" data-type=\"h2\" data-location=\"Editorial\" data-name=\"h2_all\" data-text=\"What is the difference between a money market account vs. other accounts?\" data-outcome=\"\">What is the difference between a money market account vs. other accounts?<\/h2>\n<p>Understanding how money market accounts compare to other deposit and savings products helps you determine which account type best fits your financial needs and goals.<\/p>\n<div class=\"w-full overflow-x-auto\">\n<table class=\"wp-block-table Table Table--stripedOdd Table--spacing1 align-middle has-fixed-layout wrapped\">\n<thead>\n<tr>\n<th><strong>Feature<\/strong><\/th>\n<th><strong>Money market account<\/strong><\/th>\n<th><strong>Savings account<\/strong><\/th>\n<th><strong>Checking account<\/strong><\/th>\n<th><strong>Certificate of deposit<\/strong><\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td><strong>Average APY <\/strong><\/td>\n<td>0.47%<\/td>\n<td>0.61%<\/td>\n<td>0.18%<\/td>\n<td>1.65%-2.01%<\/td>\n<\/tr>\n<tr>\n<td><strong>Access<\/strong><\/td>\n<td>Checks, debit card, transfers<\/td>\n<td>Transfers, ATM<\/td>\n<td>Unlimited transactions<\/td>\n<td>None until maturity<\/td>\n<\/tr>\n<tr>\n<td><strong>Transaction limits<\/strong><\/td>\n<td>Often limited (6\/month)<\/td>\n<td>Often limited (6\/month)<\/td>\n<td>Unlimited<\/td>\n<td>None allowed<\/td>\n<\/tr>\n<tr>\n<td><strong>Minimum balance<\/strong><\/td>\n<td>Often high ($1,000+)<\/td>\n<td>Often low ($0-$100)<\/td>\n<td>Often low ($0-$100)<\/td>\n<td>Varies ($500+)<\/td>\n<\/tr>\n<tr>\n<td><strong>Best for<\/strong><\/td>\n<td>Emergency funds, short-term goals<\/td>\n<td>Long-term savings<\/td>\n<td>Daily transactions<\/td>\n<td>Fixed-term savings<\/td>\n<\/tr>\n<tr>\n<td><strong>FDIC insurance<\/strong><\/td>\n<td>Yes, up to $250,000<\/td>\n<td>Yes, up to $250,000<\/td>\n<td>Yes, up to $250,000<\/td>\n<td>Yes, up to $250,000<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div><figcaption class=\"wp-element-caption\">Average APY source: Bankrate data<\/figcaption><p><strong>Money market vs. checking accounts:<\/strong> Money market accounts typically offer much higher interest rates than checking accounts but aren\u2019t designed for unlimited daily transactions. They\u2019re ideal for occasional access while earning interest.<\/p>\n<p><strong>Money market vs. savings accounts:<\/strong> Both pay interest and are designed for saving, but money market accounts often provide checks and debit cards for easier access. However, they typically require higher minimum balances.<\/p>\n<p><strong>Money market vs. CDs:<\/strong> Certificates of deposit may pay higher rates but lock up your money for specific terms. Money market accounts offer more liquidity for shorter-term needs and goals.<\/p>\n<h2 data-position=\"5\" data-beam-element-viewed=\"\" data-id=\"br-h2-5-onpage-placement\" data-type=\"h2\" data-location=\"Editorial\" data-name=\"h2_all\" data-text=\"Money market accounts vs. money market mutual funds\" data-outcome=\"\">Money market accounts vs. money market mutual funds<\/h2>\n<p>While money market accounts and money market funds have similar names, they are very different. Most notably, money market funds are considered an investment because they are a type of mutual fund. They are not covered by FDIC insurance, and you could lose your principal. Here is a breakdown of their primary differences.<\/p>\n<div class=\"w-full overflow-x-auto\">\n<table class=\"Table Table--stripedOdd Table--spacing1 align-middle wrapped\">\n<thead>\n<tr>\n<th><strong>Money market account<\/strong><\/th>\n<th class=\"has-text-align-left\" data-align=\"left\"><strong>Money market fund<\/strong><\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td><strong>Bank deposit account<\/strong><\/td>\n<td class=\"has-text-align-left\" data-align=\"left\"><strong>Investment\/mutual fund<\/strong><\/td>\n<\/tr>\n<tr>\n<td>FDIC\/NCUA insured up to $250,000<\/td>\n<td class=\"has-text-align-left\" data-align=\"left\">No federal insurance<\/td>\n<\/tr>\n<tr>\n<td>Principal guaranteed<\/td>\n<td class=\"has-text-align-left\" data-align=\"left\">Principal can fluctuate<\/td>\n<\/tr>\n<tr>\n<td>Lower, stable returns<\/td>\n<td class=\"has-text-align-left\" data-align=\"left\">Potentially higher returns<\/td>\n<\/tr>\n<tr>\n<td>Easy access via checks\/debit cards<\/td>\n<td class=\"has-text-align-left\" data-align=\"left\">Access within one business day<\/td>\n<\/tr>\n<tr>\n<td>Suitable for emergency funds<\/td>\n<td class=\"has-text-align-left\" data-align=\"left\">Better for parking investment cash<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p><strong>Key distinction:<\/strong> Money market accounts are safe, insured deposit accounts perfect for emergency funds and short-term savings. Money market funds are investments that could lose value and aren\u2019t suitable for money you can\u2019t afford to lose.<\/p>\n<h2 data-position=\"6\" data-beam-element-viewed=\"\" data-id=\"br-h2-6-onpage-placement\" data-type=\"h2\" data-location=\"Editorial\" data-name=\"h2_all\" data-text=\"FAQs about money market accounts\" data-outcome=\"\">FAQs about money market accounts <\/h2>\n<ul class=\"Accordion w-full align\">\n<li x-id=\"['panel-who-should-choose-a-money-market-account', 'heading-who-should-choose-a-money-market-account']\" x-data=\"{ expanded: 0 }\" class=\"Accordion-item\">\n<button class=\"Accordion-titleContainer py-4 px-3 sm:px-6 group sm:py-6\" type=\"button\" :id=\"$id('heading-who-should-choose-a-money-market-account')\" :aria-controls=\"$id('panel-who-should-choose-a-money-market-account')\" :aria-expanded=\"expanded ? true : false\" x-on:click=\"expanded = !expanded\" :data-outcome=\"expanded ? 'open_accordion' : 'close_accordion'\"><!-- htmlmin:ignore --><\/p>\n<h3 class=\"Accordion-title my-0 mr-2 md:flex-1\">\n    Who should choose a money market account?<br \/>\n    <\/h3>\n<p><!-- htmlmin:ignore --><span class=\"Accordion-icon Icon mb-0 block leading-none Icon--sm icon-base-blue-600\" aria-hidden=\"true\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"Icon-glyph\" viewbox=\"0 0 24 24\" fill=\"currentColor\" focusable=\"false\"><title>Caret Down Icon<\/title>\n<path d=\"M12 17.152c-.33 0-.675-.131-.94-.378L3.384 9.09a1.32 1.32 0 0 1 0-1.86c.51-.51 1.351-.51 1.862 0L12 13.977l6.755-6.747c.51-.51 1.351-.51 1.862 0 .51.51.51 1.35 0 1.86l-7.694 7.684a1.295 1.295 0 0 1-.94.378H12Z\" class=\"icon-base\"\/><\/svg><\/span><\/button><\/p>\n<div class=\"Accordion-contentWrapper\" :id=\"$id('panel-who-should-choose-a-money-market-account')\" :aria-labelledby=\"$id('heading-who-should-choose-a-money-market-account')\" x-show=\"expanded\" x-collapse=\"\" role=\"region\" style=\"height: 0; overflow: hidden; display: none;\">\n<div class=\"Accordion-content text-gray-700 px-3 pb-4 sm:px-6 sm:pb-6\">\n<p>Money market accounts work best for people who need a safe place to store emergency funds or short-term savings while earning competitive interest. They\u2019re ideal if you want check-writing or debit card access to your savings without sacrificing too much earning potential.<\/p>\n<p>However, they\u2019re not suitable for long-term savings goals where CDs might offer better rates, or for daily spending where checking accounts provide unlimited transactions.<\/p>\n<h3 class=\"text-lg font-bold text-text-100 mt-1 -mb-1.5\"\/>\n<\/div>\n<\/div>\n<\/li>\n<li x-id=\"['panel-do-you-pay-taxes-on-a-money-market-account', 'heading-do-you-pay-taxes-on-a-money-market-account']\" x-data=\"{ expanded: 0 }\" class=\"Accordion-item\">\n<button class=\"Accordion-titleContainer py-4 px-3 sm:px-6 group sm:py-6\" type=\"button\" :id=\"$id('heading-do-you-pay-taxes-on-a-money-market-account')\" :aria-controls=\"$id('panel-do-you-pay-taxes-on-a-money-market-account')\" :aria-expanded=\"expanded ? true : false\" x-on:click=\"expanded = !expanded\" :data-outcome=\"expanded ? 'open_accordion' : 'close_accordion'\"><!-- htmlmin:ignore --><\/p>\n<h3 class=\"Accordion-title my-0 mr-2 md:flex-1\">\n    Do you pay taxes on a money market account?<br \/>\n    <\/h3>\n<p><!-- htmlmin:ignore --><span class=\"Accordion-icon Icon mb-0 block leading-none Icon--sm icon-base-blue-600\" aria-hidden=\"true\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"Icon-glyph\" viewbox=\"0 0 24 24\" fill=\"currentColor\" focusable=\"false\"><title>Caret Down Icon<\/title>\n<path d=\"M12 17.152c-.33 0-.675-.131-.94-.378L3.384 9.09a1.32 1.32 0 0 1 0-1.86c.51-.51 1.351-.51 1.862 0L12 13.977l6.755-6.747c.51-.51 1.351-.51 1.862 0 .51.51.51 1.35 0 1.86l-7.694 7.684a1.295 1.295 0 0 1-.94.378H12Z\" class=\"icon-base\"\/><\/svg><\/span><\/button><\/p>\n<div class=\"Accordion-contentWrapper\" :id=\"$id('panel-do-you-pay-taxes-on-a-money-market-account')\" :aria-labelledby=\"$id('heading-do-you-pay-taxes-on-a-money-market-account')\" x-show=\"expanded\" x-collapse=\"\" role=\"region\" style=\"height: 0; overflow: hidden; display: none;\">\n<div class=\"Accordion-content text-gray-700 px-3 pb-4 sm:px-6 sm:pb-6\">\n<p class=\"whitespace-normal break-words\">Yes, interest earned on money market accounts is considered taxable income. The IRS requires you to report all taxable interest on your federal income tax return. If you earn more than $10 in interest, you\u2019ll typically receive a Form 1099-INT from your bank to help with tax reporting.<\/p>\n<h3 class=\"text-lg font-bold text-text-100 mt-1 -mb-1.5\"\/>\n<\/div>\n<\/div>\n<\/li>\n<li x-id=\"['panel-is-there-a-penalty-for-withdrawing-money-from-a-money-market-account', 'heading-is-there-a-penalty-for-withdrawing-money-from-a-money-market-account']\" x-data=\"{ expanded: 0 }\" class=\"Accordion-item\">\n<button class=\"Accordion-titleContainer py-4 px-3 sm:px-6 group sm:py-6\" type=\"button\" :id=\"$id('heading-is-there-a-penalty-for-withdrawing-money-from-a-money-market-account')\" :aria-controls=\"$id('panel-is-there-a-penalty-for-withdrawing-money-from-a-money-market-account')\" :aria-expanded=\"expanded ? true : false\" x-on:click=\"expanded = !expanded\" :data-outcome=\"expanded ? 'open_accordion' : 'close_accordion'\"><!-- htmlmin:ignore --><\/p>\n<h3 class=\"Accordion-title my-0 mr-2 md:flex-1\">\n    Is there a penalty for withdrawing money from a money market account?<br \/>\n    <\/h3>\n<p><!-- htmlmin:ignore --><span class=\"Accordion-icon Icon mb-0 block leading-none Icon--sm icon-base-blue-600\" aria-hidden=\"true\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"Icon-glyph\" viewbox=\"0 0 24 24\" fill=\"currentColor\" focusable=\"false\"><title>Caret Down Icon<\/title>\n<path d=\"M12 17.152c-.33 0-.675-.131-.94-.378L3.384 9.09a1.32 1.32 0 0 1 0-1.86c.51-.51 1.351-.51 1.862 0L12 13.977l6.755-6.747c.51-.51 1.351-.51 1.862 0 .51.51.51 1.35 0 1.86l-7.694 7.684a1.295 1.295 0 0 1-.94.378H12Z\" class=\"icon-base\"\/><\/svg><\/span><\/button><\/p>\n<div class=\"Accordion-contentWrapper\" :id=\"$id('panel-is-there-a-penalty-for-withdrawing-money-from-a-money-market-account')\" :aria-labelledby=\"$id('heading-is-there-a-penalty-for-withdrawing-money-from-a-money-market-account')\" x-show=\"expanded\" x-collapse=\"\" role=\"region\" style=\"height: 0; overflow: hidden; display: none;\">\n<div class=\"Accordion-content text-gray-700 px-3 pb-4 sm:px-6 sm:pb-6\">\n<p class=\"whitespace-normal break-words\">It depends on your bank\u2019s policies. While the Federal Reserve no longer mandates the six-withdrawal limit, many institutions still enforce this restriction. Exceeding allowed withdrawals may result in fees or account reclassification. Always check your specific account terms.<\/p>\n<h3 class=\"text-lg font-bold text-text-100 mt-1 -mb-1.5\"\/>\n<\/div>\n<\/div>\n<\/li>\n<li x-id=\"['panel-what-is-the-highest-paying-money-market-account-right-now', 'heading-what-is-the-highest-paying-money-market-account-right-now']\" x-data=\"{ expanded: 0 }\" class=\"Accordion-item\">\n<button class=\"Accordion-titleContainer py-4 px-3 sm:px-6 group sm:py-6\" type=\"button\" :id=\"$id('heading-what-is-the-highest-paying-money-market-account-right-now')\" :aria-controls=\"$id('panel-what-is-the-highest-paying-money-market-account-right-now')\" :aria-expanded=\"expanded ? true : false\" x-on:click=\"expanded = !expanded\" :data-outcome=\"expanded ? 'open_accordion' : 'close_accordion'\"><!-- htmlmin:ignore --><\/p>\n<h3 class=\"Accordion-title my-0 mr-2 md:flex-1\">\n    What is the highest-paying money market account right now?<br \/>\n    <\/h3>\n<p><!-- htmlmin:ignore --><span class=\"Accordion-icon Icon mb-0 block leading-none Icon--sm icon-base-blue-600\" aria-hidden=\"true\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"Icon-glyph\" viewbox=\"0 0 24 24\" fill=\"currentColor\" focusable=\"false\"><title>Caret Down Icon<\/title>\n<path d=\"M12 17.152c-.33 0-.675-.131-.94-.378L3.384 9.09a1.32 1.32 0 0 1 0-1.86c.51-.51 1.351-.51 1.862 0L12 13.977l6.755-6.747c.51-.51 1.351-.51 1.862 0 .51.51.51 1.35 0 1.86l-7.694 7.684a1.295 1.295 0 0 1-.94.378H12Z\" class=\"icon-base\"\/><\/svg><\/span><\/button><\/p>\n<div class=\"Accordion-contentWrapper\" :id=\"$id('panel-what-is-the-highest-paying-money-market-account-right-now')\" :aria-labelledby=\"$id('heading-what-is-the-highest-paying-money-market-account-right-now')\" x-show=\"expanded\" x-collapse=\"\" role=\"region\" style=\"height: 0; overflow: hidden; display: none;\">\n<div class=\"Accordion-content text-gray-700 px-3 pb-4 sm:px-6 sm:pb-6\">\n<p class=\"whitespace-normal break-words\">Money market rates change frequently, but top accounts currently offer APYs hovering around 4 percent APY. Online banks typically offer the most competitive rates. Check our regularly updated best money market account rates for current offerings.<\/p>\n<h3 class=\"text-lg font-bold text-text-100 mt-1 -mb-1.5\"\/>\n<\/div>\n<\/div>\n<\/li>\n<li x-id=\"['panel-how-does-a-money-market-account-differ-from-a-high-yield-savings-account', 'heading-how-does-a-money-market-account-differ-from-a-high-yield-savings-account']\" x-data=\"{ expanded: 0 }\" class=\"Accordion-item\">\n<button class=\"Accordion-titleContainer py-4 px-3 sm:px-6 group sm:py-6\" type=\"button\" :id=\"$id('heading-how-does-a-money-market-account-differ-from-a-high-yield-savings-account')\" :aria-controls=\"$id('panel-how-does-a-money-market-account-differ-from-a-high-yield-savings-account')\" :aria-expanded=\"expanded ? true : false\" x-on:click=\"expanded = !expanded\" :data-outcome=\"expanded ? 'open_accordion' : 'close_accordion'\"><!-- htmlmin:ignore --><\/p>\n<h3 class=\"Accordion-title my-0 mr-2 md:flex-1\">\n    How does a money market account differ from a high-yield savings account?<br \/>\n    <\/h3>\n<p><!-- htmlmin:ignore --><span class=\"Accordion-icon Icon mb-0 block leading-none Icon--sm icon-base-blue-600\" aria-hidden=\"true\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"Icon-glyph\" viewbox=\"0 0 24 24\" fill=\"currentColor\" focusable=\"false\"><title>Caret Down Icon<\/title>\n<path d=\"M12 17.152c-.33 0-.675-.131-.94-.378L3.384 9.09a1.32 1.32 0 0 1 0-1.86c.51-.51 1.351-.51 1.862 0L12 13.977l6.755-6.747c.51-.51 1.351-.51 1.862 0 .51.51.51 1.35 0 1.86l-7.694 7.684a1.295 1.295 0 0 1-.94.378H12Z\" class=\"icon-base\"\/><\/svg><\/span><\/button><\/p>\n<div class=\"Accordion-contentWrapper\" :id=\"$id('panel-how-does-a-money-market-account-differ-from-a-high-yield-savings-account')\" :aria-labelledby=\"$id('heading-how-does-a-money-market-account-differ-from-a-high-yield-savings-account')\" x-show=\"expanded\" x-collapse=\"\" role=\"region\" style=\"height: 0; overflow: hidden; display: none;\">\n<div class=\"Accordion-content text-gray-700 px-3 pb-4 sm:px-6 sm:pb-6\">\n<p class=\"whitespace-normal break-words\">Both offer competitive interest rates, but money market accounts typically provide checks and debit card access for easier fund access. High-yield savings accounts may offer slightly better rates but usually don\u2019t include transaction features. The best choice depends on whether you value access convenience or maximum yield.<\/p>\n<h3 class=\"text-lg font-bold text-text-100 mt-1 -mb-1.5\"\/>\n<\/div>\n<\/div>\n<\/li>\n<li x-id=\"['panel-can-i-lose-money-in-a-money-market-account', 'heading-can-i-lose-money-in-a-money-market-account']\" x-data=\"{ expanded: 0 }\" class=\"Accordion-item\">\n<button class=\"Accordion-titleContainer py-4 px-3 sm:px-6 group sm:py-6\" type=\"button\" :id=\"$id('heading-can-i-lose-money-in-a-money-market-account')\" :aria-controls=\"$id('panel-can-i-lose-money-in-a-money-market-account')\" :aria-expanded=\"expanded ? true : false\" x-on:click=\"expanded = !expanded\" :data-outcome=\"expanded ? 'open_accordion' : 'close_accordion'\"><!-- htmlmin:ignore --><\/p>\n<h3 class=\"Accordion-title my-0 mr-2 md:flex-1\">\n    Can I lose money in a money market account?<br \/>\n    <\/h3>\n<p><!-- htmlmin:ignore --><span class=\"Accordion-icon Icon mb-0 block leading-none Icon--sm icon-base-blue-600\" aria-hidden=\"true\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"Icon-glyph\" viewbox=\"0 0 24 24\" fill=\"currentColor\" focusable=\"false\"><title>Caret Down Icon<\/title>\n<path d=\"M12 17.152c-.33 0-.675-.131-.94-.378L3.384 9.09a1.32 1.32 0 0 1 0-1.86c.51-.51 1.351-.51 1.862 0L12 13.977l6.755-6.747c.51-.51 1.351-.51 1.862 0 .51.51.51 1.35 0 1.86l-7.694 7.684a1.295 1.295 0 0 1-.94.378H12Z\" class=\"icon-base\"\/><\/svg><\/span><\/button><\/p>\n<div class=\"Accordion-contentWrapper\" :id=\"$id('panel-can-i-lose-money-in-a-money-market-account')\" :aria-labelledby=\"$id('heading-can-i-lose-money-in-a-money-market-account')\" x-show=\"expanded\" x-collapse=\"\" role=\"region\" style=\"height: 0; overflow: hidden; display: none;\">\n<div class=\"Accordion-content text-gray-700 px-3 pb-4 sm:px-6 sm:pb-6\">\n<p class=\"whitespace-normal break-words\">No, you cannot lose your principal in an FDIC or NCUA-insured money market account, up to the $250,000 insurance limit. However, if your account has fees that exceed your interest earnings, your balance could decrease. Also, inflation could erode your purchasing power over time if your interest rate doesn\u2019t keep pace.<\/p>\n<h2 class=\"text-xl font-bold text-text-100 mt-1 -mb-0.5\" data-position=\"7\" data-beam-element-viewed=\"\" data-id=\"br-h2-7-onpage-placement\" data-type=\"h2\" data-location=\"Editorial\" data-name=\"h2_all\" data-outcome=\"\"\/>\n<\/div>\n<\/div>\n<\/li>\n<\/ul>\n<h2 data-position=\"8\" data-beam-element-viewed=\"\" data-id=\"br-h2-8-onpage-placement\" data-type=\"h2\" data-location=\"Editorial\" data-name=\"h2_all\" data-text=\"How to find the best money market account rates\" data-outcome=\"\">How to find the best money market account rates<\/h2>\n<p>The difference between an average money market account and a top-tier account can mean hundreds or thousands of dollars in additional earnings. Bankrate tracks rates from over 4,800 financial institutions daily to help you identify the best opportunities.<\/p>\n<ul class=\"wp-block-list\">\n<li>\n<strong>Compare APYs regularly: <\/strong>Money market rates change frequently based on Federal Reserve policy and competition among banks. What\u2019s competitive today may not be next month. Bankrate updates rate data daily to ensure you\u2019re seeing current offers.<\/li>\n<\/ul>\n<ul class=\"wp-block-list\">\n<li>\n<strong>Understand balance tiers: <\/strong>Many banks advertise their highest rate prominently, but that rate may only apply to balances above $25,000 or even $100,000. Always check what rate applies to YOUR specific balance level before opening an account.<\/li>\n<\/ul>\n<ul class=\"wp-block-list\">\n<li>\n<strong>Consider online banks: <\/strong>Online-only banks consistently offer the highest money market rates \u2014 often 8-10 times the national average \u2014 because they have lower overhead costs than traditional banks. These institutions are FDIC-insured and provide the same federal protections.<\/li>\n<\/ul>\n<div class=\"Callout flex flex-col gap-y-6 border-4 border-solid border-blue-100 rounded-lg py-8 px-6 md:px-10 mt-8 mb-16\">\n            <!-- htmlmin:ignore --><\/p>\n<h3 class=\"heading-3 my-0 text-crop-none text-blue-700\">\n    Ready to start earning more on your savings?<br \/>\n    <\/h3>\n<p>    <!-- htmlmin:ignore --><\/p>\n<div class=\"Callout-content text-gray-900 text-left wysiwyg m-0\">\n        Compare money market account rates from hundreds of FDIC-insured banks and credit unions. See which accounts offer the highest APYs for your balance level, with no obligation to apply.<br \/>\n\u00a0<br \/>\nCompare money market rates now \u2192<\/p><\/div>\n<\/p><\/div>\n<p><span style=\"color: rgba(21,21,21,var(--tw-text-opacity)); font-family: var(--font-family-sans); font-size: 2.25rem; font-weight: bold; letter-spacing: -0.015625rem;\">Bottom line<\/span><\/p>\n<p>Money market accounts offer an excellent balance of safety, growth potential and accessibility for shorter-term savings goals. They\u2019re particularly valuable for emergency funds, where you need the security of federal insurance and the flexibility to access funds when unexpected expenses arise.<\/p>\n<div class=\"HelpfulCTA mx-auto flex flex-col items-center gap-6 my-6 py-12 text-base border-y border-gray-200\" data-helpful-cta=\"\" data-beam-element-viewed=\"\" id=\"did-you-find-this-helpful\" data-type=\"cta\" data-location=\"article-bottom\" data-position=\"banner\" data-text=\"Did you find this page helpful?\">\n<div class=\"HelpfulCTA-initial w-full flex flex-col items-center gap-4\" data-cta-initial=\"\">\n<div class=\"HelpfulCTA-question text-lg font-bold text-center text-gray-900\">\n            Did you find this page helpful?<\/p>\n<div id=\"oBFSM9xJVq\" class=\"hidden\">\n<div class=\"wysiwyg wysiwyg--sm wysiwyg--flush max-w-xs\">\n<p class=\"mb-6 text-base\">\n                            <strong class=\"block font-bold text-gray-900\">Why we ask for feedback<\/strong><br \/>\n                            Your feedback helps us improve our content and services. It takes less than a minute to<br \/>\n                            complete.\n                        <\/p>\n<p>Your responses are anonymous and will only be used for improving our website.<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>Help us improve our content<\/p>\n<div class=\"HelpfulCTA-actions flex gap-4 mt-2\">\n            <button type=\"button\" class=\"HelpfulCTA-btn HelpfulCTA-btn--yes border border-2 border-blue-600 text-blue-600 rounded px-6 py-2 transition font-semibold flex items-center gap-2 hover:bg-blue-50\" data-cta-yes=\"\" data-beam-element-clicked=\"\" id=\"did-you-find-this-helpful-yes\" data-type=\"button\" data-location=\"article-bottom\" data-position=\"banner\" data-text=\"Yes\" data-outcome=\"response submitted\"><br \/>\n                <span class=\"Icon\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"Icon-glyph\" viewbox=\"0 0 24 24\" fill=\"currentColor\" focusable=\"false\"><title>Thumbs Up Icon<\/title><path d=\"M13.165 2.175c.322 0 .57.022.774.065.796.161 1.43.624 1.85 1.345.71 1.216.722 3.067.023 5.499h.516c2.28 0 3.422 0 4.337.548a3.844 3.844 0 0 1 1.721 2.25c.29 1.032 0 2.13-.592 4.336l-.516 1.926c-.312 1.151-.484 1.786-.882 2.324a3.368 3.368 0 0 1-1.442 1.098c-.625.247-1.28.248-2.475.248l-.021.01h-4.595c-.42 0-.636 0-.84-.032a4.19 4.19 0 0 1-.635-.15c-.204-.065-.387-.162-.763-.355l-1.69-.856c-.014.034-.026.069-.043.102a2.334 2.334 0 0 1-1.044 1.044c-.495.247-1.012.248-1.948.248h-.161c-.936 0-1.453 0-1.947-.248a2.333 2.333 0 0 1-1.044-1.044C1.5 20.038 1.5 19.52 1.5 18.585v-7.683c0-.936 0-1.452.248-1.947A2.387 2.387 0 0 1 2.792 7.91c.494-.248 1.01-.247 1.947-.247h.16c.937 0 1.454 0 1.95.247.353.177.653.44.875.763.64-.606 1.788-2.184 3.31-5.142.183-.366.312-.603.538-.819.193-.193.462-.355.72-.441.302-.097.539-.097.873-.097ZM4.739 9.288c-.624 0-1.076 0-1.227.076a.721.721 0 0 0-.323.322c-.075.15-.075.603-.075 1.216v7.683c0 .624 0 1.076.075 1.227.065.14.183.248.323.323.151.075.603.075 1.227.075h.16c.625 0 1.078 0 1.228-.075a.722.722 0 0 0 .323-.323c.075-.15.075-.603.075-1.227v-7.683c0-.624 0-1.065-.075-1.227a.672.672 0 0 0-.323-.322c-.15-.075-.603-.076-1.227-.076h-.161v.01ZM13.057 3.8c-.14 0-.226 0-.259.011-.032 0-.086.043-.107.064a2.98 2.98 0 0 0-.226.399c-2.187 4.272-3.53 5.647-4.33 6.092.003.162.004.34.004.536v7.82l2.217 1.122c.28.14.42.216.56.27.107.032.214.064.332.075.151.021.314.021.626.021h4.594c1.022 0 1.539 0 1.862-.129a1.84 1.84 0 0 0 .763-.58c.215-.28.355-.808.613-1.765l.517-1.927c.495-1.85.775-2.873.603-3.475a2.309 2.309 0 0 0-1-1.313c-.538-.323-1.594-.323-3.51-.323h-1.129c-.226 0-.473 0-.72-.15a1.087 1.087 0 0 1-.464-.614c-.075-.301 0-.528.076-.754.957-2.97.603-4.26.301-4.777-.183-.312-.44-.506-.774-.57-.14-.033-.377-.033-.549-.033Z\" class=\"icon-base\"\/><\/svg><\/span> <span class=\"text-base leading-4\">Yes<\/span><br \/>\n            <\/button><br \/>\n            <button type=\"button\" class=\"HelpfulCTA-btn HelpfulCTA-btn--no border-2 border-blue-600 text-blue-600 rounded 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0-4.34-.548a3.843 3.843 0 0 1-1.722-2.248c-.29-1.033 0-2.13.593-4.324l.517-1.925c.312-1.162.484-1.786.882-2.323.377-.495.872-.871 1.443-1.097.624-.248 1.281-.248 2.476-.248h4.597c.42 0 .635 0 .84.032.215.032.431.086.636.15.193.065.387.162.753.345l1.702.864c.017-.04.033-.082.053-.122a2.333 2.333 0 0 1 1.044-1.043c.496-.247 1.013-.247 1.95-.247h.16ZM7.503 3.798c-1.022 0-1.54 0-1.862.13-.302.118-.56.322-.765.58-.215.28-.345.775-.614 1.753l-.517 1.926c-.495 1.85-.775 2.871-.602 3.474a2.308 2.308 0 0 0 1 1.312c.539.323 1.594.322 3.51.322h1.142c.236 0 .473 0 .72.15.227.14.388.367.453.625.075.28 0 .516-.075.742-.959 2.969-.603 4.27-.301 4.775.183.312.44.506.774.57.162.033.41.033.572.033.128 0 .203 0 .236-.01.021 0 .085-.044.107-.065.032-.032.14-.237.227-.399 2.208-4.308 3.556-5.671 4.352-6.102a39.945 39.945 0 0 1-.003-.523v-7.79L13.63 4.175c-.28-.14-.41-.215-.56-.27a1.796 1.796 0 0 0-.344-.085c-.151-.022-.313-.01-.625-.022H7.503Zm11.596.001c-.625 0-1.077 0-1.228.076a.72.72 0 0 0-.323.322c-.075.15-.075.603-.075 1.226v7.68c0 .623 0 1.075.075 1.226.075.14.183.247.323.322.15.075.603.075 1.228.075h.16c.625 0 1.078 0 1.228-.075a.778.778 0 0 0 .324-.322c.075-.151.075-.603.075-1.227V5.423c0-.623 0-1.076-.075-1.226a.722.722 0 0 0-.324-.322c-.15-.076-.603-.076-1.227-.076h-.161Z\" class=\"icon-base\"\/><\/svg><\/span> <span class=\"text-base leading-4\">No<\/span><br \/>\n            <\/button>\n        <\/div>\n<\/p><\/div>\n<p>    <!-- Yes Form --><\/p>\n<p>    <!-- No Form --><\/p>\n<div class=\"HelpfulCTA-thankyou flex flex-col items-center gap-2\" data-cta-thankyou=\"\" style=\"display:none;\">\n<p>Thank you for your<br \/>\n            feedback!<\/p>\n<p>Your input helps us improve our<br \/>\n            content and services.<\/p>\n<\/p><\/div>\n<\/div><\/div>\n<p>Read the full article <a href=\"https:\/\/www.bankrate.com\/banking\/mma\/what-is-a-money-market-account\/\" target=\"_blank\" rel=\"noopener\" rel=\"nofollow\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Images by Getty Images; Illustration by Issiah Davis\/Bankrate Key takeaways A money market account is a deposit account that earns interest while providing check-writing and debit card access to your funds. Money market accounts currently earn between 0.47% and 4.00%+ APY, with top accounts offering rates significantly higher than traditional savings accounts, according to Bankrate\u2019s<\/p>\n","protected":false},"author":1,"featured_media":22055,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[58],"tags":[],"class_list":{"0":"post-22054","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-homes"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>What Is A Money Market Account? | BudgetADirect<\/title>\n<meta name=\"description\" content=\"Images by Getty Images; Illustration by Issiah Davis\/Bankrate Key takeaways A money market account is a deposit account that earns interest while\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/budgetadirect.com\/?p=22054\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"What Is A Money Market Account? 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