Money Market Accounts are accounts at your bank or brokerage, similar to a checking account, where your money is invested in a certain way where you get a better interest rate than your checking or savings accounts that might earn interest. I don't recall what is available these days in interest bearing checking. I recall at one time that I might have been getting about 2 or 3 percent on my checking but getting about 6 percent on my money market. That was a LOOOOOOONG time ago now. Lately the MM Account has been paying about 1% and my bank has suggested I transfer my money to a "Super High Yield" Money Market account. That, as I recall, would increase my interest rate from about 1.01% to about 1.22% or something like that. I can't imagine how bad a regualar interest bearing checking account might pay. The Money Market accounts also vary in interest rates based on the markets. The catch here is that there is a limit to the number of CHECKS and withdrawals that you can write or make on the money market account. If you write checks on your Checking account your bank may, depending on your balance and their limits and policies, charge you a FEE per check for the services that they provide. With Money Market Accounts, what they charge you might be a fee up to a limit of checks but if you write more than a certain number of checks in a month, they then charge you a PENALTY.

Just checking online with my bank about MM Accounts I find that there is a limit of 6 "Withdrawals or Transfers per month", per Federal Reserve Regulation D. Those transactions include no more than 3 checks and the following

*Transfers and payments from your PC
*Transfers and payments by phone
*Payments authorized in advance
*Payments covered by overdraft protection

Not Included in the limits are,

*Transactions made at a bank branch in person
*Withdrawals made at an ATM