Money Market Account
A Money Market Account or MMA, acts in the same manner as a savings or deposit account, and also has similar attributes to that of a money market fund. It can also be referred to as a money market deposit account (MMDA). A Money Market Account is insured by the Federal government. Financial institutions such as banks and brokerages can provide a Money Market Account, and can be used for the safe keeping of funds that are planned to be used for future events, or for storing sums received from the selling of an investment/s. The interest paid to the depositor of a Money Market Account is dependent on the current interest rates of the money markets.
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