Comparing Money Market and High-Yield Savings Accounts: Which is Right for You?
High-yield savings accounts and money market accounts are both deposit accounts that offer higher interest rates compared to traditional savings accounts. While they share similarities, there are key differences to consider. High-yield savings accounts typically have no or low minimum balance requirements and limited access to funds, while money market accounts often have higher minimum balance requirements but offer check-writing and debit card access. The choice between the two depends on your financial situation and needs.