Money Market Account


  • A bank account that restricts the type and number of certain withdrawals and which earns interest similar to that paid by money market funds.

high-yield bank account, high-interest account


Related Terms and Acronyms

  • Combination Account Definition,
    • An account that is part savings and part chequing. You may write cheques and you will be paid interest if you have enough money in the account.
  • Guaranteed Investment Certificate (GIC) Acronym, Important,
    • An investment that pays a set rate of interest over a fixed period of time.
  • High Yield Money Market Account (HYMMA)Acronym,
    • Insured Money Market Account (IMMA)Acronym,
      • Money Market Fund (MMF) Acronym, Important,
        • Mutual funds that invest in short-term debts or securities.
      • Money Market Mutual Fund (MMMF) Acronym,
        • A mutual fund that invests in short-term debt instruments such as Treasury bills, commercial paper, and large CDs. Also referred to as money market fund (MMF).
      • Mutual Fund Definition,
        • A type of investment scheme that pools funds from multiple backers and invests them in securities such as stock or bonds.
      • Parking (prk) Abbreviation,
        • A term that refers to depositing cash in a high-yield money market account until it is transferred to another account to pay bills.
      • Segregated Fund Definition,
        • Investment vehicles that feature both maturity and death guarantees. Segregated funds share similarities with mutual funds but are categorized as insurance products.
      • Term Deposit (TD) Acronym,
        • An investment product in which you deposit a fixed sum of money for a set period of time and are paid interest.
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