Financial claims with limited check writing privileges, offered by banks since 1982, that earn higher interest than fully checkable deposits and that require higher minimum balances are

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Money market deposit accounts are financial accounts offered by banks that provide higher interest rates than regular checking accounts, require higher minimum balances, and offer limited check writing privileges. They were introduced in the 1980s as a way for banks to compete with money market mutual funds by offering a similar product that also provides the safety of being insured by the FDIC.

Financial Claims with Limited Check Writing Privileges, Offered by Banks