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What is the difference between money market accounts and savings accounts?

April 26, 2017accounts Money Market savings accounts

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What is the difference between money market accounts and savings accounts?

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A Nationwide Money Market account allows you to earn a more attractive interest rate and write up to three checks per month. Savings accounts have a lower interest rate and a lower balance requirement and do not provide the ability to write checks against your balances.

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Savings accounts allow you to earn interest on money to which you do not need regular access. Money market accounts allow for greater interest earnings potential with limited check writing ability. In addition, higher balance requirements must be met.