Question

features of money market

Answer 1

Money market deposit accounts have competitive interest rates, especially when compared to traditional savings accounts. Their rates are typically about a half a percentage point lower than Treasury bills.

You can access your money whenever you need to, and take withdrawals in person, write checks, or transfer the money into your checking account.

There are no limits to how many bank transfers you can make per month from a money market deposit account and a checking or savings account held at the same bank.

You can move your money if the interest rates drop, without penalties or fees for withdrawing the money and putting it into a different investment.

You can connect your money market deposit account to your brokerage account and purchase stocks, bonds and treasuries by phone from your money market account.