Money Market Account Rates

When you're looking for Money Market account rates, one path you should also consider is opening a High-Yield Savings account, which offers many of the same benefits as a Money Market account.
read more below

How They're Similar

Money Market accounts were initially created to differentiate themselves from savings accounts with higher interest rates. This has changed in the wake of online banking and the higher rates offered for High-Yield Savings accounts (through methods such as MoneyAisle auctions), the distinction has become less clear. If you compare Money Market account rates with High-Yield Savings account rates you won't find much difference.

How They're Different

Some banks will limit the number of withdrawals you can make from a Money Market account, while not limiting the number of monthly withdrawals you can make from a savings account. It's best to double-check with the bank you plan on opening your account with (whether it's a Money Market account or a High-Yield Savings account) to see if any of these conditions apply.

MoneyAisle Auctions

If you're looking for a safe place to keep your money with a high interest rate, you may be interested in the rates you can get by running a High-Yield Savings account auction through MoneyAisle. You'll get the benefit of a Money Market account (the high rates), and you'll get a great rate - banks bid online in a live auction to get you the best rate available in MoneyAisle's system. You then have the option of accepting or declining the winning bid, and you can accomplish the entire auction process in a couple of minutes by just sitting at your computer.

Related Articles:
Finding the Best Money Market Account
Money Market Account Funds
Money Market Mutual Funds
Money Market Accounts and Savings