What is a money market deposit account (MMDA)?
A) a variable rate MMMF
B) a savings account with limited check-writing privileges
C) a 32-day-to-one year small time deposit
D) none of the above

Question

Quizplus · Accepted Answer

A money market deposit account (MMDA) is essentially a type of savings account offered by banks and credit unions that typically provides a higher interest rate compared to regular savings accounts. One of its key features is that it offers limited check-writing privileges, distinguishing it from regular savings accounts which generally do not allow for this.

What Is a Money Market Deposit Account (MMDA)