Which bank account combines savings interest with limited check-writing and debit-card access?

A money market account combines savings interest with limited check-writing and debit-card access.

Money market accounts are deposit accounts offered by banks and credit unions. They typically pay interest and may provide checks or a debit card, making them more flexible than many savings accounts. Institutions may require a higher opening deposit or minimum balance than they require for ordinary checking.

The account should not be confused with a money market mutual fund. A bank money market account is a deposit product and may qualify for deposit insurance within applicable limits. A money market mutual fund is an investment product holding short-term securities and is not the same type of insured bank deposit.

Withdrawal rules and fees depend on the institution and applicable regulations. Historically, U.S. Regulation D limited certain savings-account transfers, but the Federal Reserve removed the six-per-month transfer limit in 2020. Banks may still impose their own account terms.