Is a Money Market Checking Account Also a Savings Account?

Answer Money market deposit accounts (MMDAs) are bank savings accounts that have some of the withdrawal capabilities of checking accounts. Some people think money market accounts are checking accounts bec... Read More »

Top Q&A For: Is a Money Market Checking Account Also a Savin...

Is there a difference between the APY on a savings account& a high-yield money market account?

No, the formula for annual percentage yield (APY) is one plus the periodic interest rate. Then raise the sum to the power of the number of periods of investment. Finally, subtract one. The formula ... Read More »

Why should everyone have a money market savings account?

A money market account (MMA) is basically a high-interest savings account offered by banks and credit unions. This is a product that everyone should consider for keeping emergency money. Money dep... Read More »

Can I pay bills out of my savings or money market account?

On One Hand: Yes You CanA consumer can use her savings or money market account to pay bills. Many times, both of those types of accounts come with checks or debit cards that the consumer can use to... Read More »

Does Crown Banking Come With a Free Savings or Money Market Account?

Crown Banking, a checking package from Wachovia, a Wells Fargo company, offers both a free savings account and a free money market account. However, customers must maintain a minimum balance in the... Read More »