money market deposit account

Definition

A savings account which shares some of the characteristics of a money market fund. Like other savings accounts, money market deposit accounts are insured by the Federal government. Money market deposit accounts offer many of the same services as checking accounts although transactions may be somewhat more limited. These accounts are usually managed by banks or brokerages, and can be a convenient place to store money that is to be used for upcoming investments or has been received from the sale of recent investments. They are very safe and highly liquid investments, but offer a lower interest rate than most other investments. also called money market account.

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You should try to make sure you have a good money market deposit account that will allow you quick access to it.

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We had put the money in a money market deposit account so we would have the government guarantee the funds safety.

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The bank teller sold me on opening a money market deposit account to hold the recent land development capital we obtained to insure safer holdings while we decide where to invest it.

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money market basis Depository Institutions Act of 1982