How do money market accounts differ from regular savings accounts?
Good question! Money market accounts differ from regular savings accounts in a couple of ways. Money market accounts usually pay a higher interest rate compared to a regular savings account and offer some check writing privileges. Things to think about before saving money in this type of account is that usually you will be required to have a minimum deposit to start the account and you must keep an average balance in the account. If the balance on the account does not stay the same then the account goes back to earning the rate of a regular savings account.
