what is a money account
A money market account is a type of savings account offered by banks and credit unions just like regular savings accounts.The difference is that they usually pay higher interest, have higher minimum balance requirements (sometimes $1000-$Â­2500), and only allow three to six withdrawals per month.ith bank accounts, the money in a money market account is insured by the Federal Deposit Insurance Corporation (FDIC), which means that even if the bank or credit union goes out of business, your money will still be there.