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Do you have money that you don't want to risk in the stock market, but also needs protection from inflation eating away at its value? A money market account (MMA) could be a good bet. Maybe you've saved up an emergency fund and want to earn some sort of return on your money, but you don't want to lose access to the funds as you would if you put it in a certificate of deposit. An account with a competitive money market rate is a remedy for your situation.

Money market rates and account fees vary greatly from bank to bank. Some banks allow you to write checks and use an ATM card with the account free of charge while others charge hefty fees for the same privileges.

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