Peoples are very conscious about there saving money. They are looking for a good place to keep their money secure with earning. Because the stock market is unstable, banks are getting battered. As a result there is an often chance to lose your money. So nobody wants to invest their money with risk. But at this time Money market accounts remove this kind of shortcoming.
If you are feeling skittish and do not want to take any risk about your savings then Money market accounts give you a moderate return for little-to-no risk with earning interest.
In finance, the money market accounts are a part of global financial market. A money market deposit account is a good place to deposit an emergency fund or money you will need reasonably quickly. It beats the interest rate on a regular bank savings account. Here, the bank reinvests your money into short-term securities, while offering you a competitive interest rate.
Money market accounts provide access to your money, but if you want to get the higher interest rate then generally a higher minimum balance is necessary to keep and a limit on the number of withdrawals permitted per month, normally around three to six. But now the help of the online banking many banks offer to pay a high interest rate on a small balance. You may use debit card for withdrawals. You can also write a limited amount of checks each month, depending on the bank. There is another restriction such as a fairly high minimum balance must be maintained in order to avoid fees.
Money market accounts are considered safe because your money is insured by the Federal Deposit Insurance Corporation. They give guarantees that the banks don’t lose your money. So keep your money in money market accounts and keep your mind peace by saving your money in secure.