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Despite the many advantages of an MMA, there are a few areas where it can come up short for some. Let’s look at the other side of the coin. Withdrawal and transfer restrictions — The Federal Reserve places limits on withdrawal and transfer activities for both savings accounts and MMAs. […]

What Is a Money Market Account? A money market account is a type of deposit account that pays interest on deposits and allows withdrawals with some restrictions. MMAs are offered primarily by banks and credit unions of all sizes, and can be used for short-term or long-term savings. Some examples […]