what is a money market bank account
A Money Market Account is a type of savings account that usually earns a higher amount of interest than a basic savings account. The minimum balance for this account is often considerably higher than the minimum balance of a basic savings account. They can range from $500-$50,000. When you deposit money into your Money Market Account, it earns interest just like a regular savings account. That interest is the bank's way of thanking you for letting them use your money. Banks then take that money and make other investments or loans.