MONEY MARKET DEPOSIT ACCOUNT
\mˈʌnɪ mˈɑːkɪt dɪpˈɒsɪt ɐkˈa͡ʊnt], \mˈʌnɪ mˈɑːkɪt dɪpˈɒsɪt ɐkˈaʊnt], \m_ˈʌ_n_ɪ m_ˈɑː_k_ɪ_t d_ɪ_p_ˈɒ_s_ɪ_t ɐ_k_ˈaʊ_n_t]\
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Savings account type used by banks and brokerage firms to invest in short-term debt obligations using funds held on deposit. This account type typically offers limited check writing privileges. It also typically pays an interest rate higher than regular savings but lower than a time-deposit or certificate of deposit. Also known as a Money Market Demand Account or simply as a Money Market Account. Contrast to Money Market Fund.
By Henry Campbell Black
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Snake's-head
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