A money market account (MMA) or money market deposit account (MMDA) is a financial account that pays interest based on current interest rates in the money markets.
Money market accounts typically have a relatively high rate of interest and require a higher minimum balance (anywhere from 1000 to 10,000 to 25,000 dollars) to earn interest or avoid monthly fees. The resulting investment strategy is therefore similar to, and meant to compete with, a money market fund offered by a brokerage. The two account types are otherwise unrelated.